Dublin, Feb. 21, 2025 (GLOBE NEWSWIRE) — The “Hybrid and Electric Vehicle Fuses – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for Hybrid and Electric Vehicle Fuses was valued at US$2.8 Billion in 2024 and is projected to reach US$10.3 Billion by 2030, growing at a CAGR of 24.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Eaton Corporation PLC, Littelfuse Inc., MERSEN SA, Pacific Engineering Corporation, SCHURTER Holding AG and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
What Factors are Driving the Growth of the Hybrid and Electric Vehicle Fuse Market?
Several factors are driving the rapid growth of the hybrid and electric vehicle fuse market, including the increasing adoption of electric and hybrid vehicles, advancements in EV technology, and the growing emphasis on safety and reliability in EV design. One of the primary drivers is the global shift toward electric and hybrid vehicles as part of the broader effort to reduce carbon emissions and combat climate change. As automakers transition from internal combustion engine vehicles to electrified powertrains, the demand for high-voltage fuses that can protect EVs’ electrical systems is rising dramatically. The growing market for electric vehicles is creating a parallel demand for the components that ensure their safe operation, including fuses.
Advancements in electric vehicle technology are also contributing to the growth of the fuse market. As EV batteries become more powerful and charging systems faster, the need for more robust, high-current fuses has increased. Modern EVs are designed to handle high voltage and current levels, particularly during fast charging, and fuses must be capable of withstanding these conditions while providing reliable protection. Additionally, the development of new battery technologies and powertrain architectures is creating a need for fuses that can be adapted to different vehicle designs, further driving demand for specialized fuses in the EV market.
The increasing focus on safety and reliability in electric vehicle design is another key factor fueling the growth of the EV fuse market. Automakers and regulators alike are placing greater emphasis on the safety of electric vehicles, particularly in terms of battery protection and electrical safety. As part of this effort, fuses are becoming an essential component in ensuring that EVs meet stringent safety standards. The growing concern over battery safety, especially in light of high-profile incidents involving battery fires or malfunctions, has heightened the need for advanced fuses that can provide fast and reliable protection against electrical faults.
The rise of fast charging and ultra-fast charging infrastructure is also boosting demand for fuses in the hybrid and electric vehicle market. Fast charging places significant stress on a vehicle’s electrical system due to the high currents involved, making it essential to have fuses that can handle these conditions without compromising safety or performance. As the global charging infrastructure expands and consumers demand faster charging options, the need for fuses designed specifically for fast charging applications will continue to grow.
Government regulations and incentives supporting the adoption of electric and hybrid vehicles are further driving the market for EV fuses. Many countries are implementing policies to phase out internal combustion engine vehicles and promote the use of EVs, leading to increased investment in EV manufacturing and infrastructure. These policies are encouraging automakers to produce more electric vehicles, which in turn is boosting demand for the components needed to ensure their safe operation, including high-voltage fuses. Additionally, safety regulations for EVs are becoming more stringent, requiring automakers to incorporate advanced fuse technologies to meet these regulatory requirements.
The expansion of hybrid and electric vehicle production in emerging markets is another factor driving growth in the EV fuse market. As countries such as China and India invest heavily in electric mobility to reduce air pollution and dependence on fossil fuels, the demand for EVs and their components is increasing. These emerging markets represent a significant opportunity for growth in the EV fuse market, as automakers and suppliers seek to meet the needs of a rapidly expanding customer base.
With advancements in EV technology, growing emphasis on safety and reliability, and increasing global adoption of electric vehicles, the hybrid and electric vehicle fuse market is poised for continued growth. As the automotive industry transitions to more sustainable and electrified powertrains, fuses will remain a critical component in ensuring the safety, performance, and longevity of hybrid and electric vehicles, supporting the broader shift toward cleaner and more efficient transportation.
Report Scope
The report analyzes the Hybrid and Electric Vehicle Fuses market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.
Segments
Application (Hybrid Electric Vehicles (HEVs), Battery Electric Vehicles (BEVs)).
Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Hybrid Electric Vehicles (HEVs) Application segment, which is expected to reach US$9 Billion by 2030 with a CAGR of a 25.2%. The Battery Electric Vehicles (BEVs) Application segment is also set to grow at 19.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $815.1 Million in 2024, and China, forecasted to grow at an impressive 23.5% CAGR to reach $1.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Hybrid and Electric Vehicle Fuses Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 42 major companies featured in this Hybrid and Electric Vehicle Fuses market report include:
- Eaton Corporation PLC
- Littelfuse Inc.
- MERSEN SA
- Pacific Engineering Corporation
- SCHURTER Holding AG
- SOC Corporation
Key Attributes
| Report Attribute | Details |
| No. of Pages | 244 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $2.8 Billion |
| Forecasted Market Value (USD) by 2030 | $10.3 Billion |
| Compound Annual Growth Rate | 24.4% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Hybrid and Electric Vehicle Fuses – Global Key Competitors Percentage Market Share in 2025 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Electric Vehicles (EVs) and Hybrids Drives Growth in Hybrid and Electric Vehicle Fuses Market
- Expansion of Charging Infrastructure Spurs Adoption of High-performance Fuses in EVs
- Growth in Focus on Vehicle Safety and Reliability Expands Addressable Market for EV Fuses
- Increasing Focus on High-voltage Fuses for Fast Charging and High-power Applications Fuels Market Demand
- Increasing Focus on Lightweight and Compact Fuse Designs Expands Addressable Market
- Technological Advancements in Solid-state and Fast-acting Fuses Drive Market Innovation
For more information about this report visit https://www.researchandmarkets.com/r/qf4cpj
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- Hybrid and Electric Vehicle Fuses Market
