The electric fuse market is projected to grow at a CAGR of 4.95% during the forecast period. The electric fuse market has a significant market size owing to its application as a safety device in an electrical circuit. It is used as a prot`The flow of high current through a wire for which it is not designed and manufactured can cause heating, melting or burning which can lead to severe accidents of fire.

In order to avoid such condition, an electrical fuse is used in the circuit. The major factors which are driving the electric fuse market are increasing infrastructural development and rising demand for luxurious vehicles. An electric fuse can be AC fuse and DC fuse. At present, 30% of the whole cost of vehicles is associated with electronics equipment. High adoption of the smart grid is also expected to augment the market. 

The electrical fuse market is segmented on the basis of By Voltage, By Material, By End-Use Industry, And By geography.