Automotive Fuse Market is Forecasted to Reach US$ 6.0 Billion in 2031, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global automotive fuse market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:

https://stratviewresearch.com/Request-Sample/3953/automotive-fuse-market.html#form

Market Statistics:

Market Size in 2024: US$ 3.0 billion

Market Size in 2031: US$ 6.0 billion

Growth (CAGR): 10.1% during 2024-2031

Leading Propulsion Type: HEV

Leading Vehicle Type: LV (light vehicle)

Leading Voltage Type: Low-Voltage

Leading Low-Voltage Application Type: Braking & Safety Systems

Leading High-Voltage Application Type: Battery Pack

Leading Fuse Type: Cartridge Fuse

Leading Voltage Range Type: Less than 100 VDC

Leading Region: Asia-Pacific

Forecast Period: 2024-2031

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 8

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Automotive Fuse Market:

The global automotive fuse market is segmented based on propulsion type, vehicle type, voltage type, low-voltage application type, high-voltage application type, voltage range type, fuse type, and region.

Based on propulsion type - The automotive fuse market is segmented into ICE, BEV, and HEV. HEV is expected to be the dominant propulsion type, whereas BEV is expected to experience the fastest growth in the coming years. The automotive fuses include both types of fuses: low voltage fuses and high voltage fuses. ICE requires only low-voltage fuses, whereas HEVs and BEVs require both low- and high-voltage fuses as they operate with two different battery systems. The transition from traditional internal combustion engine (ICE) vehicles to battery electric vehicles (BEVs) is accelerating due to environmental policies, regulatory frameworks, and advancements in battery technology, which are reducing the cost of EVs. As BEV production expands, the need for high-voltage and safety fuses will surge, making BEVs the fastest-growing segment in the automotive fuse market.

Based on the vehicle type – The market is segmented into LV and M&HCV. LV is expected to remain the market's dominant and faster-growing vehicle type during the forecast period. LV, including passenger cars, SUVs, and light trucks, represent the majority of vehicles on the road worldwide. This segment accounts for a significant portion of total vehicle sales and is expected to continue dominating the market in the coming years. As a result, the demand for automotive fuses, which are essential components in these vehicles, will be strong and consistent.

Based on the voltage type - The market is segmented into low-voltage and high-voltage fuses. Low-voltage fuses will dominate the market due to their widespread use across numerous vehicle systems. High-voltage fuse also holds a significant share of the market, as they are designed to handle significant currents and protect critical high-voltage components, making them more expensive per unit.

Based on the low-voltage application type - The market is segmented into infotainment system, lighting system, HVAC system, braking & safety system, propulsion & power system, and other auxiliaries. Braking & safety systems are essential in all vehicles, including ICE vehicles, hybrids, and electric vehicles. As a result, the widespread integration of these systems across all vehicle types drives a higher demand for fuses, leading to an increased total volume requirement in the automotive fuse market.

Based on the high-voltage application type - The market is segmented into battery pack, inverter, DC-DC converter, on-board charger, and electric motor. The battery pack is the largest application in the automotive high-voltage fuse market. It is driven by its critical role in electric and hybrid vehicles, high cost and technological complexity, and the growing demand for electric mobility.

Based on the voltage range type - The market is segmented into less than 100 VDC, 100 VDC to 500 VDC, and 500 VDC to 1000 VDC. Less than 100 VDC fuses will dominate the market in the coming years due to their extensive use in low-voltage systems across both ICE and electric vehicles, as well as their cost-effectiveness and standardization. The 500 VDC to 1000 VDC fuse segment is expected to experience the fastest growth, driven by the rising adoption of high-voltage systems in electric and hybrid vehicles. The demand for faster charging extended driving ranges, and enhanced performance in these vehicles is fueling the need for 500 VDC to 1000 VDC.

Based on the fuse type - The market is segmented into blade fuse and cartridge fuse. Cartridge fuse dominate the automotive fuse market due to their critical role in high-value, high-performance systems requiring advanced technology and superior current/voltage protection. Their use in safety-critical applications such as powertrains, electric motors, and battery management systems, along with their complexity and high-quality materials, drives their demand despite their higher cost.

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to maintain its leading position over the forecast period. This growth outlook is majorly attributed to the following–

·      Its dominance in global automotive production, especially in the electric and hybrid vehicle segments.

·      Ongoing technological advancements and government regulations promoting electrification and enhanced safety standards will further reinforce the region's leadership throughout the forecast period.

Likewise, Europe remains the second-largest region in the automotive fuse market, With growing EV adoption, strict regulations, and strong automotive production.

Automotive Fuse Market Drivers:

Some of the key drivers listed in the report are given below.

·      Increase in automotive production

·      Increasing shift towards battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs)

·      Stringent safety and emission regulations,

·      Rising integration of advanced driving assistance systems (ADAS)

·      Increase in integration of infotainment systems and IoT-based automotive technologies

·      Technological advancement in fuse design

Top Companies in the Automotive Fuse Market:

The market is moderately concentrated, with some local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players.

·      Littlefuse, Inc.

·      Pacific Engineering Corporation (PEC)

·      Eaton

·      Schurter

·      Xi 'an Zhongrong Electric Co., LTD.

·      Sensata Technologies, Inc.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

Related Reports:

-         EV High-Voltage Fuse Market

-         EV Fuse Market

You may also like:

-      In Flight Entertainment Market

-      Infrared Sensor Market

-      Aircraft Interior Lighting Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

Are you looking for any specific data customized to your objectives? We are just a mail away.

Stratview Research

E-mail: sales@stratviewresearch.com

Direct: +1-313-307-4176