According to MarketsandMarkets’ research report titled “Electric Fuse Market by Type (Power Fuse & Fuse Link, Distribution Cutouts, Cartridge & Plug Fuse), Voltage (Low, Medium), End-Users (Utilities, Industrial, Residential, Commercial, Transportation), and Region - Global Forecast to 2023”, the global electric fuse market is projected to reach $4.3 billion by 2023 from an estimated $3.5 billion in 2018, at a CAGR of 4.24%. Growth is attributed to increasing investments in renewable and energy storage, increasing investments in T&D infrastructure plans, and revival of investments in construction sector.
- Medium voltage segment is expected to hold the largest share of the electric fuse market, by voltage, during the forecast period.
- Power fuse & fuse link segment accounts for the largest contributor in the electric fuse market during the forecast period.
- Transportation segment is expected to be the second fastest growing segment of the electric fuse market, by end-use, during the forecast period.
- Utilities segment is expected to be the largest contributor during the forecast period.
- Asia Pacific to be the largest market for electric fuse.
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