Market Research Report-2022-2028 Global and China Fuse Industry Research

Published Date: 2022-06-20
1.1.1 Analysis of the current status of the fuse industry
1. SMD fuses are growing rapidly. Portable and thin electronic products are becoming more and more powerful. With the continuous miniaturization and low power consumption of electronic products, the demand for fuses is also constantly decreasing in size and current.

2. The global fuse market is highly concentrated, and users tend to choose mid-to-high-end suppliers with high brand awareness.

3. Most domestic manufacturers have gaps in technological innovation, production technology and efficiency compared with international leading brands, lack competitiveness in the high-end market, and the influence of domestic brands needs to be improved.


1.1.2 Development Trend of Fuse
1. Benefit from new energy vehicles, new energy photovoltaic wind power generation, communications, rail transit, digital technology and other industries
With the development of the industry, the market demand for fuses shows a rapid growth trend.

2. As Asia has become the main sales market for fuses, the world's major fuse manufacturers have shifted their production bases to Asia, mainly in China, India and other countries. The entry of foreign capital will bring advanced technology and drive the rapid development of the local fuse industry. .

3. With the diversification of application circuits, customers continue to put forward personalized requirements for the performance of fuses, requiring fuses to integrate more and more intelligent functions. It is speculated that in the future, new markets such as intelligence and modularization will appear in fuses.

1.1.3 Risks faced by the development of the fuse industry
1. The cost of raw materials accounts for a large proportion of the cost of products, such as metal copper and silver. Under the influence of international metal prices, enterprises will face the risk of large fluctuations in raw material prices.

2. With the gradual decline of the subsidy policy for new energy electric vehicles in recent years, the industrial pattern has gradually become clear, and the development of the industry is changing from policy-driven to market-driven. OEMs have continued to reduce costs in the upstream fuse supply chain. Therefore, the sales unit price and gross profit margin of electric vehicle fuses in the industry are at risk of decline. If the market competition intensifies in the future, the national industrial policy is adjusted, and new products cannot be successfully introduced to the market, the gross profit margin may further decline.

3. The fuse industry has a relatively high degree of marketization. At present, a competition pattern in which foreign-funded enterprises and domestic enterprises coexist has been formed. Among them, the mid-to-high-end market competitors are mainly international well-known brand manufacturers and a few domestic leading enterprises. For domestic local enterprises, they will face the risk of intensified market competition.

1.1.4 Analysis of the Overall Scale of Global Fuse
Benefiting from the development of new energy, smart grid, communication technology, digital technology and other technologies, the global electronic power industry is expected to enter a new round of rapid development. Fuse is a safety component to protect various circuit systems. The rapid development of the electronic power industry will Drive the market demand of the fuse industry. In 2021, the global fuse market sales reached USD 3.255 billion and is expected to reach USD 4.745 billion in 2028, with a compound annual growth rate (CAGR) of 6.92% (2022-2028). In the next few years, the industry will have great uncertainty. The forecast data for 2022-2028 in this article is based on the historical development of the past few years, the opinions of industry experts, and the opinions of analysts in this article.

As Asia has become the main sales market for fuses, the global production base has shifted to Asia. Manufacturers such as internationally renowned brands Eaton, Mersen, and Littelfuse have set up production bases in China, India and other countries. The entry of foreign capital will bring advanced technology and drive The local fuse industry is developing rapidly. At the regional level, the Chinese market has changed rapidly in the past few years. In 2021, the market size will be US$1.108 billion, accounting for about 34.04% of the global market. It is expected to reach US$1.671 billion in 2028, when the global share will reach 35.21%. However, under the influence of the international form, as the center of gravity of semiconductor manufacturing begins to move to Southeast Asia, Southeast Asia will grow the fastest in the future.

From the perspective of product type and technology, the market size of electronic consumer plug-in fuses in 2021 will be US$438.38 million, accounting for about 13.47% of the global market; the market size of electronic consumer chip fuses will be US$475.85 million, accounting for about 14.62% of the global market. %; The market size of low-voltage fuses for industrial photovoltaic electric vehicles is 725.78 million US dollars, accounting for about 22.30% of the world. The new energy market will be the main driver of future growth, and the photovoltaic and electric vehicle industries will be the main drivers of fuse growth. However, with the gradual decline of the subsidy policy for new energy electric vehicles in recent years, the industrial pattern has gradually become clear, and the development of the industry is changing from policy-driven to market-driven. OEMs have continued to reduce costs in the upstream fuse supply chain. Therefore, the sales unit price and gross profit margin of electric vehicle fuses in the industry are at risk of decline. If the market competition intensifies in the future, the national industrial policy is adjusted, and new products cannot be successfully introduced to the market, the gross profit margin may further decline.

From the perspective of product market application, consumer electronics are the largest and fastest growing demand market for circuit protection components (fuses). The development of new technologies such as communications, digital technology, and the Internet of Things will continue to drive the rapid growth of global consumer electronics and generate market demand for fuses.

At present, major global manufacturers include Littelfuse, Mersen and Eaton, etc. In 2021, the global top 5 manufacturers will account for more than 46.56% of the market share. It is expected that the industry competition will be more intense in the next few years, especially in the Chinese market. The local enterprises in the Chinese market have gradually developed, completed the domestic substitution of imported products, and occupied a certain market share in the international market.
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