Global Medium Voltage Fuse Market: Snapshot
For a foreseeable future, the global medium voltage fuse market is prosperous, with the demand projected to multiply at a healthy CAGR of 5.3% during the forecast period of 2017 to 2025. While the growth of industrial and construction industry is reflecting positively on the medium voltage fuse market, addition traction is coming from sustained demand for electricity and reliable power delivery as well as increased initiatives on renewable energy resources. On the other hand, cheaper products offered by domestic players is eating out considerable chunk of the demand and thereby restraining the global medium voltage fuse market. As far as the valuations of the market for medium voltage fuse is concerned, it was evaluated at US$2,116.3 mn in 2017 and is estimated to reach US$3,194.8 mn by 2025, globally.
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Current Limiting Fuses Leading Type Segment
The global medium voltage fuse market is segmented on the basis of type and application. Based on type, the market is segmented into current limiting fuses, expulsion fuses, and EEI-NEMA Type K & T and Type H & N. Moreover, current limiting fuses have been further segmented into E-Rated Fuses, R-Rated Fuses, PT Fuses/ E-Rated PT Fuses, and C-Rated Fuses. Similarly, the expulsion fuses have been further segregated into boric acid fuses and others. During the forecast period, the current limiting fuses segment is expected to contribute major share in the global medium voltage fuse market, followed by expulsion fuses segment. Frequently referred as silver-sand fuses, current limiting fuses are essentially used for overcurrent protection in electric distribution systems. These fuses are specifically designed to disconnect or reduce fault currents as soon as current-responsive element is melted by the current within the specified current-limiting range of the fuse. The adoption of current limiting fuses is increasing, and the said segment is anticipated to witness a healthy growth throughout the forecast period. Among the current limiting fuses sub-segments, the E-Rated Fuses are expected to hold a major share of the medium voltage fuse market, while R-Rated Fuses are anticipated to witness a rapid growth.
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Transformers Generate Maximum Demand, Application-wise
Based on application, the global medium voltage fuse market is bifurcated into transformers, motor starters or motor circuits, feeder circuits or feeders, switchgear, and capacitors. The transformers segment, which is further categorized into power transformers, potential transformers and distribution or service transformers, is remain most profitable. This strong demand for transformers is due to the growing energy needs across the world. Transformers segment is followed by motor starters or circuits category, whereas Feeder circuits or feeders segment is expected to witness impressive growth in the near future.
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As per a new market research report published by Transparency Market Research titled “Medium Voltage Fuse Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2026,” the global medium voltage fuse market is expected to reach US$ 1,708.9 Mn by 2026.
In terms of geography, the global medium voltage fuse market has been segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America.
Higher incorporation of medium voltage fuses from transformers and motor starters/motor circuits application areas (as these fuses help them to maintain reliability and safety during transmission) is expected to add to the region’s market share.
The region is also helped by the presence of a large automobile and power sector.
Request a PDF Sample of Medium Voltage Fuse Market -https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=49761In 2016, based on type, majority revenue share in the global medium voltage fuse market was held by current limiting fuses segment.
This is due to the low maintenance cost associated with them.
