Electric Fuse Market for Energy Industry: Overview
Rapid increase in energy consumption has been largely driven by the long-term trend of production growth in energy-intensive industrial sectors. Fuses have been used as essential safety devices from the early days of electrical engineering. Electricity consumption is increasing exponentially across the globe. Governments of various countries are undertaking modernization and development of power generation infrastructure. Electricity plays a crucial role in modern life. Electric fuse is an important component of the energy industry. Fuse is an electrical safety device that provides overcurrent protection of an electrical circuit power generation, transmission, and distribution sectors account for extensive use of electric fuse. Developed and developing countries are striving to develop new power generation, transmission, and distribution infrastructure. They are also revamping their existing infrastructure. Electric fuse forms an important component of the equipment utilized in power infrastructure. Increase in demand for electricity, especially in the transmission and distribution networks, is boosting the demand for electric fuse.
Electric fuse is considered an ideal equipment for power utility companies. It helps connect two remote substations. Often, substations get overloaded and require an extra transformer capacity to improve the overall reliability of the transformer.
Electric Fuse Market for Energy Industry: Key Segments
The electric fuse market for energy industry can be segmented based on type, voltage level, and region. Based on type, the electric fuse market can be divided into 1-11 kV, 11-22kV, and up to 33kV. Manufacturers of electric fuse are increasingly focusing on developing wires and cables with less detrimental impact on the environment. One of the major restraints of electric fuse is upgrading and constructing a transformer. This is a capital intensive process. The tensile strength and fatigue strength of electric fuse joints are low. These are some of the restraints of the electric fuse market. New and environment-friendly technologies are emerging in order to save upon the production cost of electric fuse.
Electric Fuse Market for Energy Industry: Regional Outlook
In terms of region, countries in Asia Pacific such as India, China, and Japan are investing significantly in the development of electric fuse of environmentally-friendly and halogen-free insulation. Several end-users are replacing their old equipment such as transmission and distribution transformers, power cables, circuit-breakers, and switchgears with technically advanced transmission and distribution equipment to revamp their existing transmission networks. North America offers high potential for the electric fuse market. The usage of electric fuse is expected to increase in the region, as the U.S. government plans to refurbish infrastructure and produce eco-friendly energy distribution and transmission control systems. The North America Electric Reliability Corporation (NERC) has mandated consistency in standards for grid interconnections. Hence, various electric utility companies are investing in restoring, upgrading, and maintaining existing transmission lines. This is driving the demand for electric fuse. Countries in Europe such as Germany, France, Sweden, and the U.K. are increasingly focusing on infrastructure investments for the development and improvement of renewable energy projects. This is anticipated to create the need to connect renewable energy sources to the grid network, thereby augmenting the usage of electric fuse due to their properties such as low transmission loss. The electric fuse market in Middle East & Africa is estimated to expand in the near future. Countries such as Saudi Arabia, Kuwait, Bahrain, and Qatar have invested significantly in electric fuse for the development of the energy sector.
Electric Fuse Market for Energy Industry: Key Players
Key players operating in the electric fuse market for energy industry include Schneider Electric, Siemens AG, Mersen, ABB Ltd, and Hubbell.
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