Global Hybrid and Electric Vehicle Fuses Market to Reach $3 Billion by 2027
Amid the COVID-19 crisis, the global market for Hybrid and Electric Vehicle Fuses estimated at US$861.8 Million in the year 2020, is projected to reach a revised size of US$3 Billion by 2027, growing at aCAGR of 19.5% over the period 2020-2027. Battery Electric Vehicles (BEVs), one of the segments analyzed in the report, is projected to record 14% CAGR and reach US$410.9 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hybrid Electric Vehicles (HEVs) segment is readjusted to a revised 20.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $256.3 Million, While China is Forecast to Grow at 19.5% CAGR
The Hybrid and Electric Vehicle Fuses market in the U.S. is estimated at US$256.3 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$539.4 Million by the year 2027 trailing a CAGR of 19.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.7% and 17.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.2% CAGR.We bring years of research experience to this 9th edition of our report. The 126-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Eaton Corporation PLC
- Littelfuse, Inc.
- MERSEN SA
- Pacific Engineering Corporation
- SCHURTER Holding AG
- SOC Corporation