Automotive Fuse Global Market Report 2024

An automotive fuse is an electrical component in vehicles designed to safeguard various components, electronics, and cables from potential damage caused by excessive current flow. Each fuse is assigned a rating, indicating the maximum amperage or voltage it can handle before failing.

The primary types of automotive fuses, classified by fuse type, include blade fuses, glass tube fuses, semiconductor fuses, and others. Blade fuses, prevalent in modern cars, feature a plastic body with two metal prongs. Glass tube fuses find use in various vehicles and accessory applications. Semiconductor fuses are specifically designed to limit current. In terms of voltage, automotive fuses are categorized into 12V and 24V, 24-48V, 49-150V, 151-300V, and >300V. By application, they are segmented into auxiliary fuse, charge inlet fuse, battery fuse, and engine fuse. Automotive fuses are predominantly employed in passenger cars and commercial vehicles, with distribution channels encompassing both Original Equipment Manufacturer (OEM) and aftermarket sales.

The automotive fuse market research report is one of a series of new reports that provides automotive fuse market statistics, including automotive fuse industry global market size, regional shares, competitors with an automotive fuse market share, detailed automotive fuse market segments, market trends and opportunities, and any further data you may need to thrive in the automotive fuse industry. This automotive fuse market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive fuse market size has grown strongly in recent years. It will grow from $18.32 billion in 2023 to $19.32 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth observed during the historic period can be attributed to several factors, including an increase in vehicle production, the implementation of safety regulations, expansion in the electric vehicle (EV) market, and the rapid pace of urbanization.

The automotive fuse market size is expected to see strong growth in the next few years. It will grow to $23.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing prevalence of autonomous vehicles, economic market expansion, the widespread adoption of automotive electronics, and a rise in disposable income. Noteworthy trends expected during this period encompass miniaturization, the integration of smart fuses, the incorporation of Advanced Driver Assistance Systems (ADAS), and an emphasis on partnerships and collaborations within the automotive industry.

The increasing demand for electronic components within the automobile industry is anticipated to be a driving force behind the growth of the automotive fuse market in the forthcoming years. The proliferation of technology has led to the integration of new electronics in automobiles. Advanced technologies such as autonomous systems, self-driving capabilities, and onboard computers overseeing functions like vehicle temperature, GPS, and exhaust emission necessitate a substantial amount of new electrical equipment. As reported by Wired Magazine in November 2021, the demand for semiconductors saw a significant increase of 29.7 percent between August 2020 and August 2021. This surge in the need for electronic components in the automotive sector is a key factor propelling the growth of the automotive fuse market.

The escalating production of vehicles is poised to be a driving factor in the growth of the automotive fuse market. Vehicle production involves the manufacturing and assembly of automobiles, encompassing cars, trucks, and other motor vehicles, for both consumer and commercial use. Automotive fuses play a crucial role in vehicle production, serving as a critical component for safeguarding the vehicle's electrical systems, components, and passengers from electrical faults, overcurrent situations, and potential hazards. According to data from the Board of Governors of the Federal Reserve System in October 2023, total vehicle production in the United States increased to 11.06 million units in September, up from 10.77 million units in June. This upswing in vehicle production is expected to drive the growth of the automotive fuse market.

The opportunity to expand the use of automotive fuses is emerging with the improvement in quality and the development of fully insulated chips. The enhanced quality of fully insulated chips presents an opportunity for broader utilization, given that these chips are more powerful and energy-efficient. In September 2022, Novosense Microelectronics Co Ltd., a China-based company specializing in the manufacturing and sale of integrated sensor chips, isolation, and interface chips, introduced a collection of automotive-qualified chips known as the NOVOSENSE automotive-qualified LDO NSR31/33/35 family chips. These chips are specifically designed for use in systems powered by vehicle batteries, catering to automotive applications with high standby power consumption due to their ultra-low static power consumption of 5uA and low drop-out voltage.

Major players in the automotive fuse market are strategically focusing on product launches to gain a competitive edge, as exemplified by the introduction of the 828 Series of High Voltage Cartridge Fuses. This series is specifically engineered to safeguard high-voltage electrical circuits with defined voltage and current ratings. A noteworthy instance is Littlefuse Inc., a US-based electronic manufacturing company, which unveiled the 828 Series of High-voltage cartridge fuse in April 2022. This fuse is meticulously designed and tested for application in small automotive settings, featuring a high interrupting rating and an overcurrent protection feature. Its compact size and broad operating temperature range make it an ideal protection device for use in electric vehicle Power distribution units and on-board chargers.

In May 2021, Mersen, a prominent French international company operating in two key business segments, Advanced Materials and Electrical Power, made a significant move by acquiring Fusetech, a leading fuse manufacturer. This strategic acquisition serves Mersen's objectives of enhancing fuse production and integrating a high-performance location for manufacturing new products. Notably, Fusetech was initially a 50-50 joint venture between Mersen and Hager before the acquisition, underscoring the strategic growth and consolidation efforts in the automotive fuse market.

Major companies operating in the automotive fuse market include Eaton Corporation, Littelfuse Inc., Mersen S.A., SCHURTER Inc., SIBA, Sensata Technologies, Carling Technologies Inc., Mouser Electronics Inc., OptiFuse, Anodyne Electronics Manufacturing Corp., Blue Sea Systems, GLOSO TECH Inc., ON Semiconductor, Fuzetec Technology Co. Ltd., Pacific Engineering Corporation, Dongguan Better Electronics Tech. Co. Ltd., Anixter, NTE Electronics Inc., AEM Components (USA) Inc., E-T-A Elektrotechnische Geräte GmbH, Bel Fuse Inc., S&C Electric Company, G&W Electric Company, Mersen S.A., TE Connectivity Ltd., Bourns Inc., Cooper Bussmann, Keystone Electronics Corp., Phoenix Contact, Siemens Aktiengesellschaft, Vishay Intertechnology Inc., Weidmüller Interface GmbH & Co. KG, Würth Elektronik GmbH & Co. KG

Asia-Pacific was the largest region in the automotive fuse market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive fuse market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the automotive fuse market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The automotive fuse market consists of sales of glass tubes, blades, semiconductors, and other automotive fuses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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