EV Pyro-Fuse Market Share 2023-2030

Oct 30, 2023

The global EV Pyro-Fuse market was valued at US$ 470.11 million in 2022 and is anticipated to reach US$ 1395.89 million by 2029, witnessing a CAGR of 13.72% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

An EV Pyro-Fuse refers to a specific type of fuse engineered for electric vehicles (EVs) with the primary purpose of swiftly and securely halting the electrical current in case of a fault occurrence, like a short circuit or overload. Its main objective is to safeguard the EV's battery and other electrical constituents from potential harm.
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The functioning principle of Pyro-Fuses entails the utilization of a small quantity of gunpowder to generate an explosion. This explosion leads to the rupture of a miniature metal tube, thereby interrupting the flow of electricity. This entire process occurs within an incredibly short span of time, effectively preventing any damage to the EV's electrical system.

Typically, Pyro-Fuses are situated within the battery pack of the electric vehicle. Furthermore, they may also find application in other components with high voltage requirements, such as the motor controller.

The major global manufacturers of EV Pyro-Fuse include: Autoliv, Daicel, Pacific Engineering Corporation (PEC), Littelfuse, Mersen, Eaton, Miba AG, MTA Group, and Xi'an Sinofuse Electric, etc. In 2022, the world's top three vendors accounted for approximately 65.13% of the revenue.

Report Scope

This report aims to provide a comprehensive presentation of the global market for EV Pyro-Fuse, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding EV Pyro-Fuse.

The EV Pyro-Fuse market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global EV Pyro-Fuse market comprehensively. Regional market sizes, concerning products by Voltage, by Application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the EV Pyro-Fuse manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Voltage, by Application, and by regions.

By Company

Autoliv
Daicel
Pacific Engineering Corporation (PEC)
Littelfuse
Mersen
Eaton
Miba AG
MTA Group
Xi'an Sinofuse Electric

By Voltage

High Voltage (Above 700V)
Mid Voltage (400V-700V)
Low Voltage (Below 400V)

By Vehicle

Passenger Electric Vehicles (PEVs)
Commercial Electric Vehicles (CEVs)
Two-Wheelers and Three-Wheelers
Electric Buses
Other

By End-User

Automotive OEMs (Original Equipment Manufacturers)
Electric Vehicle Component Suppliers
Aftermarket and Replacement Parts

By Sales Channel

Direct Sales
Distributors/Wholesalers
Online Retailers
Automotive Service Centers

Latest Trends:

Development of new technologies:
Solid-state fuses: In 2022, Autoliv announced the development of a new solid-state fuse for electric vehicles. This fuse is designed to be more reliable and efficient than traditional fuses.
Remotely activated fuses: In 2023, Littelfuse announced the development of a new fuse that can be remotely activated. This fuse is designed to be used in electric vehicles to prevent fires in the event of a crash.
Increased demand for safety features in electric vehicles:
In 2022, the European Union adopted new safety regulations for electric vehicles. These regulations require all electric vehicles to be equipped with EV Pyro-Fuses.
In 2023, China announced plans to increase the number of electric vehicles on its roads by 20%. This is expected to drive the demand for EV Pyro-Fuses in the country.
Growing adoption of electric vehicles in emerging markets:
In 2022, India announced plans to introduce 30 million electric vehicles by 2030. This is expected to drive the demand for EV Pyro-Fuses in the country.
In 2023, Indonesia announced plans to ban the sale of gasoline-powered vehicles by 2040. This is expected to drive the demand for EV Pyro-Fuses in the country.
Increased focus on lightweight and compact designs:
In 2022, Mersen announced the development of a new EV Pyro-Fuse that is 50% lighter than traditional fuses. This fuse is designed to be used in electric vehicles to save space and weight.
In 2023, Eaton announced the development of a new EV Pyro-Fuse that is 30% smaller than traditional fuses. This fuse is designed to be used in electric vehicles to save space and weight.
Development of new applications:
In 2022, Autoliv announced the development of a new EV Pyro-Fuse that can be used in solar panels. This fuse is designed to protect solar panels from electrical faults.
In 2023, Littelfuse announced the development of a new EV Pyro-Fuse that can be used in wind turbines. This fuse is designed to protect wind turbines from electrical faults.

Solid-state fuses: In 2022, Autoliv announced the development of a new solid-state fuse for electric vehicles. This fuse is designed to be more reliable and efficient than traditional fuses.
Remotely activated fuses: In 2023, Littelfuse announced the development of a new fuse that can be remotely activated. This fuse is designed to be used in electric vehicles to prevent fires in the event of a crash.

By Application

Safety Systems
Thermal Runaway Protection
Crash Safety Systems
Emergency Disconnect Systems
Other Safety and Emergency Applications

Production By Region

North America
Europe
China
Japan

North American market for EV Pyro-Fuse is estimated to increase from US$ 110.52 million in 2023 to reach US$ 232.95 million by 2029, at a CAGR of 13.23% during the forecast period of 2023 through 2029.

Japan market for EV Pyro-Fuse is estimated to increase from US$ 231.11 million in 2023 to reach US$ 458.94 million by 2029, at a CAGR of 12.11% during the forecast period of 2023 through 2029.

Europe market for EV Pyro-Fuse is estimated to increase from US$ 284.92 million in 2023 to reach US$ 627.92 million by 2029, at a CAGR of 14.08% during the forecast period of 2023 through 2029.

Consumption by Region

North America
U.S.
Canada

Asia-Pacific
China
Japan
South Korea
Southeast Asia
India

Europe
Germany
France
U.K.
Italy
Russia
Rest of Europe

Latin America
Mexico
Brazil
Argentina
Rest of Latin America

Market Drivers:

Increasing demand for EVs: The global electric vehicle market is experiencing rapid growth as more individuals are embracing electric vehicles due to their environmental benefits and cost-effectiveness. This trend is projected to continue, thereby driving the demand for EV Pyro-Fuses.
Need for safety features in EVs: Electric vehicles feature high-voltage battery packs that can pose risks if not adequately protected. EV Pyro-Fuses serve as a crucial safety measure, effectively preventing electrical fires and other potential accidents.
Regulatory requirements: Governments worldwide are enacting regulations mandating specific safety features, including EV Pyro-Fuses, in electric vehicles. This regulatory landscape is expected to stimulate the demand for these fuses in the upcoming years.
Advances in technology: Recent years have witnessed significant technological advancements in EV Pyro-Fuses. These advancements have resulted in enhanced reliability, efficiency, and affordability of EV Pyro-Fuses. As a result, these innovations are poised to further propel market growth in the foreseeable future.

Recent Developments:

Daicel announced in January 2023 that it had developed a new EV Pyro-Fuse that is more reliable and efficient than previous models. The new fuse is designed to withstand higher currents and temperatures, and it is also smaller and lighter than previous models. This new fuse is expected to boost the demand for EV Pyro-Fuses in the coming years.
Littelfuse announced in February 2023 that it had received a major order for EV Pyro-Fuses from a leading Chinese automaker. The order is a major boost for Littelfuse and it is a sign of the growing demand for EV Pyro-Fuses in the Chinese market.
Mersen announced in March 2023 that it had expanded its production capacity for EV Pyro-Fuses in order to meet the growing demand for these fuses. The expansion is a sign of Mersen's commitment to the EV Pyro-Fuse market and it is a positive development for the overall market.
Autoliv announced in April 2023 that it had partnered with a leading Chinese automaker to develop new EV Pyro-Fuses for the Chinese market. The partnership is a sign of the growing cooperation between global and Chinese companies in the EV Pyro-Fuse market.
Eaton announced in May 2023 that it had developed a new EV Pyro-Fuse that is specifically designed for use in high-voltage battery packs. The new fuse is designed to withstand the high currents and temperatures that are found in high-voltage battery packs. This new fuse is expected to boost the demand for EV Pyro-Fuses in the coming years.

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