The fuse market is growing at a considerable rate due to tough competition among existing players, increased expenditure on renewable energy sources, increasing demand of power transmission equipment, and growing industrialization and urbanization globally. Rising demand of power is creating ample opportunities for the fuse market to grow in the coming years.
Fuse is an electrical component used to protect the electrical components from the high current. The fuse melts and separates if there is an event of unnecessary increase in the current flow. In industrial and automotive applications generally cartridge type fuses are used with sheath materials other than glass. A safety sheath contains a thin piece of fuse wire to reduce the threats of arc blast if the wire burns open with violent force, which generally happens in the case of severe over current.
While designing the fuse, the designer considers the conditions after a fuse blows and the wire separates by an air gap with high supply voltage between the ends. Most of the industrial fuses consist of disposable wire elements to replace the wire and decrease the expenditure. Semiconductor devices use semiconductor fuses that open very rapidly if there is an event of overcurrent. Semiconductor devices such as transistors are biased to overcurrent conditions, so they require rapid protections which can be given by semiconductor fuses. There are various substitutes for the fuses present in the market such as ground fault detectors, but such devices are restricted for single purpose only and do not provide protection against overheating.
On the basis of component configuration, the fuse market can be categorized as industrial grade power fuse, miniature glass cartridge fuse, thick and thin film chip fuse, radial leaded micro fuse, polymer PTC resettable fuse, and automotive blade fuse. On the basis of type, the Global fuse market can be categorized as renewable cartridge fuse, non-renewable cartridge fuse, non-renewable plug fuse, fuse holder, special purpose fuse, fuse blocks, renewal links or element, and miscellaneous fuse.
On the basis of voltage level, the fuse market can be categorized as high voltage fuse, medium voltage fuse, and low voltage fuses. On the basis of end-user industries, the fuse market can be classified as automotive, electronics and electrical equipment, residential building construction, non-automotive transportation equipment, and non-residential building construction.
The major restraints in the fuse market include increasing prices of raw materials, sensitivity of fuses which makes them prone to short circuit in some situations. Fuses are being replaced by circuit breakers and this trend is expected to continue in the coming years. However; there are still certain market areas at component level protection where fuse can only be used due for cost advantages and few operational factors.
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