Northbrook, IL -- (SBWIRE) -- 10/10/2018 -- The Automotive Fuse Market is projected to grow at a CAGR of 6.84% from 2017 to 2025, to reach USD 24.33 billion by 2025 from USD 14.33 billion in 2017. The demand for an increase in vehicle power and battery capacity in electric & hybrid vehicles is projected to fuel the demand for high voltage fuse for traction motor and battery.

Semiconductor fuse type is estimated to show the fastest growth during the forecast period

The market for semiconductor fuse is projected to grow at the highest CAGR during the forecast period from 2017 to 2025 by value, as these types of fuses are used to increase the safety of the electrical circuits and various components such as lighting system, infotainment system, and brake and clutch pedal circuits among others. Hence, with an increase in focus on safety, & luxury, the demand for these fuse types will be on the rise. A single semiconductor fuse has the ability to handle more than one electrical circuit with increased safety and durability. Due to the increasing use of ECUs and advanced features in vehicles, the semiconductor fuse market is expected to grow in the future.

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HEV segment is estimated to have the largest share in electric & hybrid vehicle fuse market

The fuse market of HEV segment is projected to be the largest market, by value, owing to the highest sales of HEV, globally, especially in the Asia Oceania Region. Increasing demand for the premium HEV is expected to showcase a huge impact in the automotive fuse market owing to the number of fuses used in the D, E, and F vehicle segments are much higher than the low vehicle segments. Additionally, with time, many premium features like ambient lighting, advanced ADAS features are expected to make their way into mass-produced HEVs.

Asia Oceania and Europe are estimated to dominate the automotive fuse market

Asia Oceania and Europe are estimated to dominate the automotive fuse market during the forecast period. While Asia Oceania is estimated to be the largest market, Europe is estimated to be the fastest growing market during the forecast period by value, in which 48V vehicles is estimated to play a major role. Increasing demand for vehicle safety features and government mandates on safety technologies such as airbag are expected to drive the automotive fuse market in the Asia Oceania region. On the other hand, the market growth in Europe can be attributed to the increased sales of EVs in countries such as Norway, France, and the Netherlands. Automotive OEMs in Europe are also known for their early adoption of vehicle safety features. Driver seatbelt reminders, TPMS, gear shift indicator, protection of pedestrians are some of the safety features mandated by the European Union which eventually increase the application of fuse.

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The key companies profiled in the study are Eaton (Ireland), ON Semiconductor (US), Littelfuse, Inc. (US), Sensata Technologies, Inc. (US), MERSEN S.A. (France), Pacific Engineering Corporation (Japan), SCHURTER Holding AG (Switzerland), OPTIFUSE (US), AEM Components (USA), Inc. (US) and Fuzetec Technology Co., Ltd. (Republic of China).

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