Automotive Fuse Market is Forecasted to Reach US$ 6 Billion in 2031, Says Stratview Research

/EIN News/ -- Detroit, April 03, 2025 (GLOBE NEWSWIRE) -- The global automotive fuse market is projected to witness a growth rate of 10.1% annually from 2024 to 2031, with an anticipated size of US$ 6 billion by 2031, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global automotive fuse market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights

Market Size in 2031 (billion US$)	6
Growth (CAGR)	10.1% during 2024-2031
Forecast Period	2024-2031
Trend Period	2018-2022
Base Year	2023
Number of Segments Covered	8
Number of Tables & Graphs	100+
Country-Level Market Assessment	20

Segment Insights on the Automotive Fuse Market:

The global automotive fuse market is segmented based on propulsion type, vehicle type, voltage type, low-voltage application type, high-voltage application type, voltage range type, fuse type, and region.

Based on propulsion type - The automotive fuse market is segmented into ICE, BEV, and HEV. HEV is expected to be the dominant propulsion type, whereas BEV is expected to experience the fastest growth in the coming years. The automotive fuses include both types of fuses: low-voltage fuses and high-voltage fuses. ICE vehicles require only low-voltage fuses, whereas HEVs and BEVs require both low- and high-voltage fuses as they operate with two different battery systems. The transition from traditional internal combustion engine (ICE) vehicles to battery electric vehicles (BEVs) is accelerating due to environmental policies, regulatory frameworks, and advancements in battery technology, which are reducing the cost of EVs. As BEV production expands, the need for high-voltage and safety fuses will surge, making BEVs the fastest-growing segment in the automotive fuse market.

Based on the vehicle type – The market is segmented into LV and M&HCV. LVs are expected to remain the market's dominant and faster-growing vehicle type during the forecast period. LVs, including passenger cars, SUVs, and light trucks, represent the majority of vehicles on the road worldwide. This segment accounts for a significant portion of total vehicle sales and is expected to continue dominating the market in the coming years. As a result, the demand for automotive fuses, which are essential components in these vehicles, will be strong and consistent.

Based on the voltage type - The market is segmented into low-voltage and high-voltage fuses. Low-voltage fuses will dominate the market due to their widespread use across numerous vehicle systems. High-voltage fuses also hold a significant share of the market, as they are designed to handle significant currents and protect critical high-voltage components, making them more expensive per unit.

Based on the low-voltage application type - The market is segmented into infotainment systems, lighting systems, HVAC systems, braking & safety systems, propulsion & power systems, and other auxiliaries. The braking & safety system holds the largest market share, whereas the propulsion & power system will be the fastest-growing. Braking & safety systems are essential in all vehicles, including ICE vehicles, hybrids, and electric vehicles. As a result, the widespread integration of these systems across all vehicle types drives a higher demand for fuses, leading to an increased total volume requirement in the automotive fuse market.

Based on the high-voltage application type - The market is segmented into battery pack, inverter, DC-DC converter, on-board charger, and electric motor. The battery packs are the largest application in the automotive high-voltage fuse market. It is driven by its critical role in electric and hybrid vehicles, high cost and technological complexity, and the growing demand for electric mobility.

Based on the voltage range type - The market is segmented into less than 100 VDC, 100 VDC to 500 VDC, and 500 VDC to 1000 VDC. Less than 100 VDC fuses will dominate the market in the coming years due to their extensive use in low-voltage systems across both ICE and electric vehicles, as well as their cost-effectiveness and standardization. The 500 VDC to 1000 VDC fuse segment is expected to experience the fastest growth, driven by the rising adoption of high-voltage systems in electric and hybrid vehicles. The demand for faster charging, extended driving ranges, and enhanced performance in these vehicles is fueling the need for 500 VDC to 1000 VDC.

Based on the fuse type - The market is segmented into blade fuse and cartridge fuse. Cartridge fuses dominate the automotive fuse market due to their critical role in high-value, high-performance systems requiring advanced technology and superior current/voltage protection. Their use in safety-critical applications such as powertrains, electric motors, and battery management systems, along with their complexity and high-quality materials, drives their demand despite their higher cost.

Blade fuses are widely used in common, less complex applications such as lighting, infotainment, and low-voltage circuits. Their affordability, simplicity, and compatibility across all vehicle types make them a standard component in nearly every vehicle on the road.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to maintain its leading position over the forecast period. This growth outlook is majorly attributed to the following–

• Its dominance in global automotive production, especially in the electric and hybrid vehicle segments.
• Ongoing technological advancements and government regulations promoting electrification and enhanced safety standards will further reinforce the region's leadership throughout the forecast period.

Likewise, Europe remains the second-largest region in the automotive fuse market, with growing EV adoption, strict regulations, and strong automotive production.

Automotive Fuse Market Drivers:

Some of the key drivers listed in the report are given below.

• Increase in automotive production.
• Increasing shift towards battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs).
• Stringent safety and emission regulations.
• Rising integration of advanced driving assistance systems (ADAS).
• Increase in the integration of infotainment systems and IoT-based automotive technologies.
• Technological advancement in fuse design.

Top Companies in the Automotive Fuse Market:

The market is highly fragmented, with over 100 players across the region. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players.

• Littlefuse, Inc.
• Pacific Engineering Corporation (PEC)
• Eaton
• Schurter
• Xi'an Zhongrong Electric Co., LTD.
• Sensata Technologies, Inc.

What Deliverables Will You Get in This Report?

Key questions this report answers	Relevant contents in the report
How big is the sales opportunity?	In-depth analysis of the Automotive Fuse Market
How lucrative is the future?	Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?	Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?	Market segment analysis and forecast
Who are the top players and their market positioning?	Competitive landscape analysis, Market share analysis
How complex is the business environment?	Porter’s five forces analysis, PEST analysis, and Life cycle analysis
What are the factors affecting the market?	Drivers & challenges
Will I get the information on my specific requirements?	10% free customization

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• EV High-Voltage Fuse Market
• EV Fuse Market

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