DUBLIN–(BUSINESS WIRE)–The “Automotive Fuse – Global Market Outlook (2019-2027)” report has been added to ResearchAndMarkets.com’s offering.
The Global Automotive Fuse market accounted for $16.33 billion in 2019 and is expected to reach $32.07 billion by 2027, growing at a CAGR of 8.8% during the forecast period.
Some of the factors propelling the growth of the market are the increasing application of high-voltage architecture, increasing demand for vehicle power and battery capacity and increasing vehicle safety & comfort features in mid-segment vehicles. However, the lack of development in the low voltage fuses is hindering the growth of the market.
Based on the fuse type, the blade segment is anticipated to hold considerable market share during the forecast period owing to the reasons like they are more compact, lighter, durable and have a simpler structure which is extensively used by the OEMs.
By geography, Asia-Pacific is going to have a