Electric Fuse Market Worth $4.3 Billion by 2023 - Exclusive Report by MarketsandMarkets™ - 0 views
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Almira Coyne on 17 Jul 20the global Electric Fuse Market is projected to reach USD 4.3 billion by 2023 from an estimated USD 3.5 billion in 2018, at a CAGR of 4.24%. This growth can be attributed to growing investments in renewable and energy storage, increasing investments in T&D infrastructure plans, and revival of investments in construction sector. Don't miss out on business opportunities in Electric Fuse Market. Speak To Our Analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=35385419 The medium voltage segment is expected to hold the largest share of the Electric Fuse Market, by voltage, during the forecast period. The medium voltage segment is estimated to dominate the Electric Fuse Market in 2018 and is projected to have the largest market share during the forecast period. The medium voltage range for fuses is defined as fuses with the capacity to open circuit at voltage range above 1 kV to 38 kV. The high demand for medium voltage fuse is due to the continuous construction of transmission and distribution network along with high replaceability of fuses. The major end uses of medium voltage fuses are for electric utilities, transformers & substations, distribution networks, and heavy industries such as oil & gas industry. The medium voltage fuses are mostly the power fuses used for current limiting function, motor circuit protection, and for back up for protection from default current.