중전압 퓨즈 시장 예측(-2030년) : 유형별, 유통채널별, 용도별, 최종사용자별, 지역별 세계 분석

According to Stratistics MRC, the Global Medium Voltage Fuse Market is accounted for $1.1 billion in 2023 and is expected to reach $1.8 billion by 2030 growing at a CAGR of 6.4% during the forecast period. A medium-voltage fuse is a protective device used in electrical systems to interrupt current flow when it exceeds safe levels, thereby safeguarding equipment from damage and preventing electrical faults. Medium-voltage fuses are designed to operate reliably in medium-voltage applications such as capacitor protection, transformers, and motors.

According to REN21's Renewables 2022 Global Status Report, India ranked third in renewable energy installations in 2021, after China. India alone installed 15.4 gigawatts (GW) of renewable energy projects in 2021.

Market Dynamics:

Driver:

Expansion of industrial infrastructure and urbanization

The expansion of industrial infrastructure and urbanization act as significant drivers in the medium voltage fuse market. As urban areas grow and industrial activities expand, there's a heightened demand for reliable electricity distribution and power protection systems. Medium-voltage fuses play a crucial role in ensuring the safe and efficient operation of electrical networks within these infrastructures. The need for effective protection against voltage surges and faults in medium-voltage systems amplifies, driving the adoption of medium-voltage fuse solutions to safeguard critical equipment and infrastructure assets.

Restraint:

Volatility in raw material prices impacting manufacturing costs

Fluctuations in the prices of materials like copper, aluminum and insulating materials directly impact manufacturing costs, affecting profit margins for fuse manufacturers. Sudden spikes in raw material prices can lead to increased production expenses, making it challenging for manufacturers to maintain competitive pricing. This volatility also adds uncertainty to production planning and inventory management, complicating business operations and potentially limiting investment in innovation and expansion within the market.

Opportunity:

Adoption of smart grid technologies

The adoption of smart grid technologies presents a significant opportunity in the medium voltage fuse market. Smart grids rely on advanced monitoring, communication, and control systems to optimize the distribution and consumption of electricity. This increased intelligence in the grid necessitates enhanced protection against voltage fluctuations and faults, driving the demand for medium-voltage fuses. As smart grids continue to expand globally to improve energy efficiency and reliability, the need for reliable and high-performance medium-voltage fuse solutions is expected to grow, fostering market expansion.

Threat:

Stringent regulations and standards

As governments worldwide prioritize electrical safety and reliability, manufacturers face increasing pressure to meet stringent performance criteria and certification requirements. This necessitates investment in research and development to develop innovative fuse solutions that adhere to evolving standards, driving up production costs. Additionally, compliance challenges may delay product launches and market entry, impacting competitiveness and market share..

Covid-19 Impact:

The COVID-19 pandemic disrupted the medium-voltage fuse market by causing supply chain disruptions, labour shortages, and reduced industrial activity. Project delays and cancellations in sectors like construction and infrastructure further dampened demand. However, the increasing emphasis on renewable energy and infrastructure investments for economic recovery post-pandemic may drive market growth at a slower pace due to lingering uncertainties.

The indirect sales segment is expected to be the largest during the forecast period

In the medium voltage fuse market, the indirect sales segment is anticipated to dominate during the forecast period due to the extensive distribution network of wholesalers, distributors, and retailers. Indirect sales channels offer manufacturers a broader market reach, especially in regions with complex supply chains or fragmented markets. Additionally, indirect sales often involve value-added services such as technical support and after-sales assistance, enhancing customer satisfaction. This accessibility and added support contribute to the segment's projected growth and market leadership.

The transformer protection segment is expected to have the highest CAGR during the forecast period

The transformer protection segment is anticipated to experience robust growth in the medium voltage fuse market during the forecast period. This growth is attributed to the rising deployment of transformers across various industries, necessitating reliable protection against electrical faults and overloads. Additionally, increasing investments in power infrastructure and the expansion of renewable energy projects drive the demand for medium voltage fuses specifically designed for transformer protection, fueling the segment's growth trajectory.

Region with largest share:

The Asia Pacific region is positioned to spearhead the medium voltage fuse market during the forecast period due to rapid industrialization, urbanization, and infrastructural development initiatives across countries like China, India, and Japan. Additionally, increasing investments in renewable energy projects and the expansion of electrical infrastructure drive the demand for medium-voltage fuses in the region. Moreover, favorable government policies and initiatives to enhance electrical safety further bolster market growth, solidifying Asia Pacific's leadership position.

Region with highest CAGR:

The North American region is poised for substantial growth in the medium voltage fuse market owing to increasing investments in upgrading aging power infrastructure, the expansion of renewable energy projects, and stringent regulations promoting electrical safety and reliability. Additionally, the growing adoption of electric vehicles and smart grid technologies further drives demand for medium voltage fuses. Moreover, initiatives aimed at enhancing grid resilience and reliability contribute to the region's favorable growth prospects in the medium voltage fuse market.

Key players in the market

Some of the key players in Medium Voltage Fuse Market include ABB Inc., Alstom SA, Bel Fuse, Inc., Denco Fuses, Inc., DF Electric, Driescher Eisleben, Eaton Corporation Plc, Fuseco Inc, G&W Electric Company, Hubbell Power Systems, IPD Group Limited, Littelfuse, Inc., LSIS Inc., Mersen S.A, Mitsubishi Electric, Pennsylvania Breaker, LLC, Powell Industries Inc., Schneider Electric, SIBA GmbH and Toshiba Corporation.

Key Developments:

In April 2023, Eaton Corporation acquired a 49% stake in Jiangsu Ryan Electric Co., Ltd., a China-based manufacturer of power distribution and sub-transmission transformers. The acquisition is expected to enhance Eaton's presence across the globe in the next few years.

In February 2023, Littelfuse, Inc. announced the acquisition of Western Automation Research and Development Limited, a leading company in Ireland that specializes in the design and manufacture of electric shock protection devices. This acquisition is aimed at improving Littelfuse's e-mobility off-board charging infrastructure.

In February 2022, ABB helps utilities protect against wildfires with new Hi-Tech Valiant(TM) fire mitigation fuse. Hi-Tech ValiantTM full-range current-limiting fuse contains sparks within the device to help reduce risk of wildfire ignitions. It is designed to improve system safety and support utility infrastructure, resiliency and fire mitigation planning.

Types Covered:

• Expulsion Fuses
• Current Limiting Fuses
• Dropout Fuses
• Back-up Fuses
• Other Types

Distribution Channels Covered:

• Direct Sales
• Indirect Sales

Applications Covered:

• Transformer Protection
• Capacitor Protection
• Motor Protection
• Other Applications

End Users Covered:

• Utilities
• Industrial Sector
• Commercial Sector
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Medium Voltage Fuse Market, By Type

• 5.1 Introduction
• 5.2 Expulsion Fuses
  • 5.2.1 Type R
  • 5.2.2 Type E
• 5.3 Current Limiting Fuses
  • 5.3.1 Type H
  • 5.3.2 Type K
• 5.4 Dropout Fuses
• 5.5 Back-up Fuses
• 5.6 Other Types

6 Global Medium Voltage Fuse Market, By Distribution Channel

• 6.1 Introduction
• 6.2 Direct Sales
• 6.3 Indirect Sales

7 Global Medium Voltage Fuse Market, By Application

• 7.1 Introduction
• 7.2 Transformer Protection
• 7.3 Capacitor Protection
• 7.4 Motor Protection
• 7.5 Other Applications

8 Global Medium Voltage Fuse Market, By End User

• 8.1 Introduction
• 8.2 Utilities
• 8.3 Industrial Sector
  • 8.3.1 Oil & Gas
  • 8.3.2 Mining
  • 8.3.3 Manufacturing
• 8.4 Commercial Sector
• 8.5 Other End Users

9 Global Medium Voltage Fuse Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 ABB Inc.
• 11.2 Alstom SA
• 11.3 Bel Fuse, Inc.
• 11.4 Denco Fuses, Inc.
• 11.5 DF Electric
• 11.6 Driescher Eisleben
• 11.7 Eaton Corporation Plc
• 11.8 Fuseco Inc
• 11.9 G&W Electric Company
• 11.10 Hubbell Power Systems
• 11.11 IPD Group Limited
• 11.12 Littelfuse, Inc.
• 11.13 LSIS Inc.
• 11.14 Mersen S.A
• 11.15 Mitsubishi Electric
• 11.16 Pennsylvania Breaker, LLC
• 11.17 Powell Industries Inc.
• 11.18 Schneider Electric
• 11.19 SIBA GmbH
• 11.20 Toshiba Corporation