Medium Voltage Fuse Market – Snapshot
Medium voltage fuses and high voltage fuses have been used interchangeably to describe fuses operating above 600 V. However, technically speaking, medium voltage fuses are the fuses intended for voltage range between 3600 V to 36000 V. On the other hand, high voltage fuses are intended for voltage above 36000 V. Medium voltage fuses also differ from high voltage fuses as they have tube liners and spring mechanism embedded in them. These fuses come in different limiting types and design but are not intended to provide overload protection.
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Rise in demand for electricity and reliable power transmission is expected to be a major driver of the market. The market is also expected to grow from the demand arising from the growing construction and automotive sector. Moreover, the increased expenditure and initiatives on renewable energy resources are also expected to bolster the growth of the global medium voltage fuse market. However, the market is expected to be hindered by the impact of price based competition as local players from developing economies steadily penetrate the mature markets with low cost offerings, and players from developed economies defend their market share by responding with their own offerings with slashed prices to compete with the low cost strategy of smaller players. This increases the risk of stagnation of companies from intense price-based competition in the near future.
The global medium voltage fuse market is segmented on the basis of type, product type, and application. On the basis of type, the market is segmented into current limiting fuses and expulsion fuses. Based on product type, the market been segmented into Type H, Type K, Type T, Type R, Type E, Overhead Current Limiting Back-up fuse, Overhead Current Limiting Full-range fuse, Oil Submersed Current Limiting Back-up fuse, Oil Submersed Current Limiting Full Range fuse, and Others. Current-limiting fuses operate much faster on high fault currents compared to expulsion fuses, and is expected to contribute to the growth of the market. The fuse is designed to cut off or reduce fault currents when its current-responsive element is melted by current within the specified current-limiting range of the fuse. All these features make current limiting fuses more attractive over the period 2018 – 2026.
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In terms of application, the global medium voltage fuse market is segmented into transformers, motor starters/motor circuits, feeder circuits/ feeders, switchgear, capacitors, and others. The transformers segment is divided into power transformers, potential transformers, and distribution/service transformers sub-segments. Based on application, the transformers segment is expected to contribute major share in the global medium voltage fuse market due to the growing world energy needs. Transformers segment is followed by motor starters/motor circuits segment in terms of market share. Feeder circuits/ feeders segment is expected to witness rapid growth throughout the forecast period.
The global medium voltage fuse market is expected to be driven by the North America region. North America is estimated to contribute major share in the overall medium voltage fuse market with the U.S. providing most of the revenue. The presence of major industry players along withthe adoption of such fuses across many verticals is expected to drive the market in the region. Asia Pacific is expected to emerge as the fastest growing region for the medium voltage fuse market. This growth is from China, Japan, and India, while Southeast Asian countries with their growing motorization and need for energy are also expected to contribute substantially to the region’s growth.
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Major players in the medium voltage fuse market include ABB Ltd., Littelfuse, Inc., Bel Fuse, Inc., DF Electric, Eaton Corporation, SIBA GmbH, Fuseco Inc., General Electric, IPD Group Limited, Mersen S.A, Mitsubishi Electric, Fusetek, Pennsylvania Breaker, LLC, and Powell Industries Inc .Other prominent players include Schneider Electric SA, Toshiba Corporation, Denco Fuses, DriescherEisleben, and LSIS Inc.
Need for Uninterrupted Electric Supply across Various Countries to Prove as a Vital Growth-Generating Factor for the Medium Voltage Fuse Market
The booming population numbers across the globe are leading to an increased need for electricity generation. The demand for reliable power transmission has increased considerably. Furthermore, industrialization has spread its wings across a large number of countries and regions. The escalating manufacturing activity, good government policies, and the measures taken by numerous countries to increase their countries’ industrial influence will serve as prominent growth factors for the global medium voltage fuse market between 2018 and 2026.
- The rising urbanization is also an important factor for the maximization of power-generation initiatives across various regions. The increasing need for electricity-generation is directly proportional to the growth of the medium voltage fuse market. Medium voltage fuses are characterized into the fuses that are used in operations that are more than 600 V. These types of fuses are used for voltage range from 3600 V to 36000 V. The advantages attached to the functionality of the medium voltage fuse will bring promising growth through the assessment period.
- The escalating interest of foreign companies in developing economies such as India and China due to the availability of cheap labor and vast resources is pushing these countries to develop a reliable electrical infrastructure. Thus, the medium voltage fuse market is expected to derive rapid growth from these countries. Attractive investments from diverse companies and firms in medium voltage fuse companies will further fuel the growth prospects to a great extent.
- The SARS-CoV-2 pandemic has had great repercussions on a massive number of sectors and industries across the globe. The medium voltage fuse market is no stranger. The closure of manufacturing facilities resulted in a decline in the demand and production of these fuses. This aspect resulted in heavy losses for the players. However, the governments of numerous countries have introduced relaxations in lockdown restrictions, which will help in boosting the growth of the medium voltage fuse market.
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