Albany, NY -- (SBWIRE) -- 02/15/2018 -- For a foreseeable future, the global medium voltage fuse market is prosperous, with the demand projected to multiply at a healthy CAGR of 5.3% during the forecast period of 2017 to 2025. While the growth of industrial and construction industry is reflecting positively on the medium voltage fuse market, addition traction is coming from sustained demand for electricity and reliable power delivery as well as increased initiatives on renewable energy resources. On the other hand, cheaper products offered by domestic players is eating out considerable chunk of the demand and thereby restraining the global medium voltage fuse market. As far as the valuations of the market for medium voltage fuse is concerned, it was evaluated at US$2,116.3 mn in 2017 and is estimated to reach US$3,194.8 mn by 2025, globally.
The global medium voltage fuse market is segmented on the basis of type and application. Based on type, the market is segmented into current limiting fuses, expulsion fuses, and EEI-NEMA Type K & T and Type H & N. Moreover, current limiting fuses have been further segmented into E-Rated Fuses, R-Rated Fuses, PT Fuses/ E-Rated PT Fuses, and C-Rated Fuses. Similarly, the expulsion fuses have been further segregated into boric acid fuses and others.
During the forecast period, the current limiting fuses segment is expected to contribute major share in the global medium voltage fuse market, followed by expulsion fuses segment. Frequently referred as silver-sand fuses, current limiting fuses are essentially used for overcurrent protection in electric distribution systems. These fuses are specifically designed to disconnect or reduce fault currents as soon as current-responsive element is melted by the current within the specified current-limiting range of the fuse.
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The adoption of current limiting fuses is increasing, and the said segment is anticipated to witness a healthy growth throughout the forecast period. Among the current limiting fuses sub-segments, the E-Rated Fuses are expected to hold a major share of the medium voltage fuse market, while R-Rated Fuses are anticipated to witness a rapid growth.
Based on application, the global medium voltage fuse market is bifurcated into transformers, motor starters or motor circuits, feeder circuits or feeders, switchgear, and capacitors. The transformers segment, which is further categorized into power transformers, potential transformers and distribution or service transformers, is remain most profitable. This strong demand for transformers is due to the growing energy needs across the world. Transformers segment is followed by motor starters or circuits category, whereas Feeder circuits or feeders segment is expected to witness impressive growth in the near future.
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In 2017, North America medium voltage fuse market was evaluated at US$644.7 mn, and is projected to be worth US$961.4 mn by 2025, contributing to the most prominent chunk of the demand in the global medium voltage fuse market, among all regions. That being said, Asia Pacific is catching up to the demand-valuation quickly too, with its worth estimated to reach US$962.9 mn by the end of the forecast period.
The developed country of the U.S. is currently providing most of the revenue in the global medium voltage fuse market, which is a reflection of the presence of major industry players along with the adoption of such fuses across many verticals is expected to drive the market in the region. The surging growth of Asia-Pacific region as a medium voltage fuse market is accountable from the emerging economies of China, Japan, and India, as well as South East Asian countries with their growing motorization and need for energy.
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ABB Ltd., Bel Fuse, Inc., Eaton Corporation, Littelfuse, Inc., SIBA GmbH, DF Electric, Fuseco Inc., General Electric, IPD Group Limited, Mersen S.A, Fusetek, Powell Industries Inc., Pennsylvania Breaker, LLC, and Mitsubishi Electric as some of the leading companies of the global medium voltage fuse market.