Current-Limiting Fuses Market Size, Share, Growth Analysis, By Voltage(Low voltage, medium voltage, and high voltage), By Application(Transformers, capacitors, motor starters, feeder circuits), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20D2118 | Region: Global | Published Date: April, 2024
Pages: 202 |Tables: 65 |Figures: 75

Current-Limiting Fuses Market Insights

Global Current-Limiting Fuses Services Market size was valued at USD 2.84 billion in 2022 and is poised to grow from USD 3.28 billion in 2023 to USD 10.39 billion by 2031, growing at a CAGR of 15.50% in the forecast period (2024-2031).

The global current-limiting fuses market is a rapidly growing industry that plays a crucial role in ensuring the safety and efficiency of electrical systems. Current-limiting fuses are designed to limit the amount of current that passes through a circuit, protecting electrical equipment and preventing costly damage or dangerous situations. The purpose of the market is to provide reliable and efficient current-limiting fuses to a wide range of industries, including power generation, transmission, and distribution, as well as industrial, commercial, and residential applications. Modern and dependable current-limiting fuses are required due to the rising demand for electricity and the expanding usage of renewable energy sources. The market is driven by several factors, including the growing demand for electricity worldwide, the increasing focus on energy efficiency and sustainable energy sources, and the need for reliable and safe electrical systems.

Additionally, the rising demand for electronic devices and appliances, as well as the expansion of the automotive industry, are fueling the growth of the market. However, the market also has to deal with issues including the high cost of modern current-limiting fuses and the absence of industry standards. Another barrier to entry for new competitors may be caused by the complexity of contemporary electrical systems and the demand for specialized solutions. The creation of intelligent current-limiting fuses that can be monitored and controlled remotely, as well as the incorporation of cutting-edge technologies like IoT and AI to increase the efficiency and dependability of electrical systems, are important industry trends. Additionally opening up new business potential are the rising use of renewable energy sources and the desire for electric vehicles.

US Current-Limiting Fuses Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 2.84 billion

Largest Segment

Low Voltage

Fastest Growth

Low Voltage

Growth Rate

15.50% CAGR

Global Current-Limiting Fuses Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)

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Current-Limiting Fuses Market Segmental Analysis

Global Current-Limiting Fuses Market is segmented on the basis of voltage, application, and region. By voltage, the market is segmented into low voltage, medium voltage, and high voltage. By application, the market is segmented into transformers, capacitors, motor starters, feeder circuits, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Current-Limiting Fuses Market Analysis By Voltage

The low voltage segment is the largest segment in the global current-limiting fuses market. This can be attributed to the widespread usage of low voltage fuses in various applications such as residential, commercial, and industrial sectors. Low voltage fuses are commonly used in appliances, electrical circuits, and electronics as protection against overcurrents, short circuits, and ground faults. The increasing demand for consumer electronics, as well as the growing trend of automation and digitalization in the industrial sector, are expected to drive the growth of the low voltage segment in the global current-limiting fuses market.

The medium voltage segment is the fastest-growing segment in the global current-limiting fuses market. This can be attributed to the increasing demand for renewable energy sources such as solar and wind power generation, which require medium voltage fuses for protection against overcurrents and short circuits. The growing adoption of electric vehicles is also expected to drive the demand for medium voltage fuses. For instance, according to the International Energy Agency, the number of electric cars on the road worldwide increased from 2 million in 2016 to 10 million in 2020, and is expected to reach 145 million by 2030. This growth in the electric vehicle market is expected to drive the demand for medium voltage fuses in the coming years.

Current-Limiting Fuses Market Analysis By Application

The transformers segment is the largest segment in the current-limiting fuses market by application. Transformers play a crucial role in power transmission and distribution networks and are widely used in industries such as power generation, oil and gas, and manufacturing. Current-limiting fuses are used in transformers to protect them from overcurrent and short circuits, which can damage the equipment and cause power outages.

The fastest-growing segment in the current-limiting fuses market by application is motor starters. Motor starters are used to control the starting and stopping of electric motors, and they require protection from overcurrent and short circuits. Current-limiting fuses are commonly used in motor starter circuits to ensure the safe operation of motors and prevent damage to the equipment. The increasing adoption of electric motors in various industries, such as automotive, aerospace, and manufacturing, is expected to drive the demand for current-limiting fuses in motor starter applications.

Global Current-Limiting Fuses Market Size By Voltage 2021(%)

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Current-Limiting Fuses Market Regional Insights

North America dominated the global current-limiting fuses market, primarily driven by the rising demand for electricity, coupled with the increasing number of smart grid initiatives in the region. In addition, the region's market is anticipated to increase as a result of the rising demand for renewable energy sources and the requirement to upgrade aging power infrastructure. According to the International Energy Agency (IEA), the U.S. is the largest producer of natural gas and oil in the world, which requires a reliable power supply to maintain its position in the market, thus leading to a high demand for current-limiting fuses.

The Asia-Pacific region is expected to be the fastest-growing region in the global current-limiting fuses market due to the increasing demand for power, the growth of the manufacturing industry, and the rising adoption of smart grid technology in countries such as China and India. In addition, the increasing investment in the renewable energy sector in the region is also driving the demand for current-limiting fuses. For instance, India has set a target to achieve 175 GW of renewable energy capacity by 2022, which will require significant investments in the power infrastructure, thereby driving the demand for current-limiting fuses in the region.

Global Current-Limiting Fuses Market Size By Geography, 2021-2030
  • Largest
  • Fastest

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Current-Limiting Fuses Market Dynamics

Current-Limiting Fuses Market Drivers

Increasing demand for electricity

  • The increasing demand for electricity from various end-use sectors such as residential, commercial, and industrial is driving the demand for current-limiting fuses. This is because these fuses help in the protection of electrical equipment, thereby preventing damage to the equipment and ensuring a continuous supply of electricity. For instance, according to the International Energy Agency (IEA), global electricity demand is expected to grow by 4% in 2021 and 3.5% in 2022.

Stringent government regulations

  • To guarantee the dependability and safety of electrical equipment, governments all over the world are putting strict laws into place. This is driving the demand for current-limiting fuses, as they help in protecting electrical equipment from overloading and short-circuiting. For instance, in the United States, the National Electrical Code (NEC) mandates the use of current-limiting fuses in various electrical applications.

Current-Limiting Fuses Market Restraints

High cost

  • Current-limiting fuses are often more expensive than traditional fuses, which can act as a restraint to the growth of the market. This is because the cost of the materials used in current-limiting fuses, such as silver and copper, is higher than the materials used in traditional fuses. Additionally, the installation and maintenance of current-limiting fuses can also be more expensive than traditional fuses.

Competition from circuit breakers

  • Circuit breakers are an alternative to current-limiting fuses and are often preferred over fuses due to their ability to trip faster and their ease of resetting. This is a potential restraint to the growth of the current-limiting fuses market as circuit breakers can replace the need for fuses in certain applications.

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Current-Limiting Fuses Market Competitive Landscape

Global Current-Limiting Fuses Market is highly competitive, with several established players and new entrants vying for market share. Some of the key players in the market are actively involved in research and development activities to introduce innovative products and gain a competitive edge in the market. They are also focusing on expanding their geographic reach by entering into strategic partnerships, collaborations, and mergers and acquisitions. For instance, in June 2021, Eaton Corporation PLC announced its acquisition of Tripp Lite, a leading provider of power quality and connectivity solutions, to expand its offering of critical power solutions. In addition, these players are also focusing on providing customized solutions to meet the specific needs of their customers. They are investing heavily in developing new technologies and improving their manufacturing processes to enhance the efficiency and reliability of their products.

Top Player’s Company Profiles in Current-Limiting Fuses Market

  • ABB Ltd. (Switzerland)
  • Eaton Corporation plc (Ireland)
  • Siemens AG (Germany)
  • Schneider Electric SE (France)
  • Mitsubishi Electric Corporation (Japan)
  • Bel Fuse Inc. (US)
  • Littelfuse Inc. (US)
  • SIBA GmbH (Germany)
  • Mersen S.A. (France)
  • Legrand S.A. (France)
  • Toshiba Corporation (Japan)
  • General Electric Company (US)
  • Fusetek (US)
  • E-T-A Elektrotechnische Apparate GmbH (Germany)
  • Cooper Bussmann (US)
  • DF Electric (Spain)
  • Edison Fusegear (US)
  • Beloxxi Industries Limited (Nigeria)
  • Gould Shawmut (US)
  • G&W Electric Company (US)

Current-Limiting Fuses Market Recent Developments

  • In April 2023, Eaton Corporation, a renowned entity in intelligent power management, finalized the acquisition of Jiangsu Ryan Electric Co., Ltd., a China-based manufacturer specializing in power distribution and sub-transmission transformers. By integrating Jiangsu Ryan Electric Co., Ltd.'s expertise and offerings, Eaton aims to strengthen its position and expand its influence across diverse markets worldwide. 

  • In February 2023, Littelfuse, Inc. made headlines with its acquisition of Western Automation Research and Development Limited, a prominent organization based in Ireland recognized for its expertise in designing and producing electric shock protection devices.

Current-Limiting Fuses Key Market Trends

  • Adoption of renewable energy sources: The increasing adoption of renewable energy sources such as solar and wind power is driving the demand for current-limiting fuses. This is because these fuses help in protecting the electrical equipment used in renewable energy systems from overloading and short-circuiting. For instance, according to the International Energy Agency (IEA), renewable energy sources are expected to account for 90% of the global power capacity additions in 2021 and 2022.
  • Development of smart grids: The development of smart grids is driving the demand for current-limiting fuses. This is because smart grids require advanced protection and control systems, which can be provided by current-limiting fuses. For instance, according to the Smart Electric Power Alliance, the global smart grid market is expected to reach $120 billion by 2026, which could drive the demand for current-limiting fuses in the coming years.

Current-Limiting Fuses Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

Our analysis of the Global Current-Limiting Fuses Market indicates that the market would expand significantly over the forecast period due to rising electricity demand and rising demand for dependable and effective power distribution systems. The market is also expected to benefit from the increasing adoption of renewable energy sources, which require specialized fuses to ensure safe and efficient operation. Additionally, the market is likely to witness significant growth in emerging economies, where there is a high demand for electricity infrastructure development. However, the market is also facing challenges, such as the increasing adoption of alternative technologies and the availability of low-cost substitutes, which could potentially impact market growth.

Report Metric Details
Market size value in 2023 USD 2.84 billion
Market size value in 2031 USD 10.39 billion
Growth Rate 15.50%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Voltage
    • Low voltage, medium voltage, and high voltage
  • Application
    • Transformers, capacitors, motor starters, feeder circuits, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • ABB Ltd. (Switzerland)
  • Eaton Corporation plc (Ireland)
  • Siemens AG (Germany)
  • Schneider Electric SE (France)
  • Mitsubishi Electric Corporation (Japan)
  • Bel Fuse Inc. (US)
  • Littelfuse Inc. (US)
  • SIBA GmbH (Germany)
  • Mersen S.A. (France)
  • Legrand S.A. (France)
  • Toshiba Corporation (Japan)
  • General Electric Company (US)
  • Fusetek (US)
  • E-T-A Elektrotechnische Apparate GmbH (Germany)
  • Cooper Bussmann (US)
  • DF Electric (Spain)
  • Edison Fusegear (US)
  • Beloxxi Industries Limited (Nigeria)
  • Gould Shawmut (US)
  • G&W Electric Company (US)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Current-Limiting Fuses Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Current-Limiting Fuses Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Current-Limiting Fuses Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Current-Limiting Fuses Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Current-Limiting Fuses Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Current-Limiting Fuses Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Current-Limiting Fuses Services Market size was valued at USD 2.84 billion in 2022 and is poised to grow from USD 3.28 billion in 2023 to USD 10.39 billion by 2031, growing at a CAGR of 15.50% in the forecast period (2024-2031).

Current-Limiting Fuses Market is highly competitive, with several established players and new entrants vying for market share. Some of the key players in the market are actively involved in research and development activities to introduce innovative products and gain a competitive edge in the market. They are also focusing on expanding their geographic reach by entering into strategic partnerships, collaborations, and mergers and acquisitions. For instance, in June 2021, Eaton Corporation PLC announced its acquisition of Tripp Lite, a leading provider of power quality and connectivity solutions, to expand its offering of critical power solutions. In addition, these players are also focusing on providing customized solutions to meet the specific needs of their customers. They are investing heavily in developing new technologies and improving their manufacturing processes to enhance the efficiency and reliability of their products. 'ABB Ltd. (Switzerland)', 'Eaton Corporation plc (Ireland)', 'Siemens AG (Germany)', 'Schneider Electric SE (France)', 'Mitsubishi Electric Corporation (Japan)', 'Bel Fuse Inc. (US)', 'Littelfuse Inc. (US)', 'SIBA GmbH (Germany)', 'Mersen S.A. (France)', 'Legrand S.A. (France)', 'Toshiba Corporation (Japan)', 'General Electric Company (US)', 'Fusetek (US)', 'E-T-A Elektrotechnische Apparate GmbH (Germany)', 'Cooper Bussmann (US)', 'DF Electric (Spain)', 'Edison Fusegear (US)', 'Beloxxi Industries Limited (Nigeria)', 'Gould Shawmut (US)', 'G&W Electric Company (US)'

The increasing demand for electricity from various end-use sectors such as residential, commercial, and industrial is driving the demand for current-limiting fuses. This is because these fuses help in the protection of electrical equipment, thereby preventing damage to the equipment and ensuring a continuous supply of electricity. For instance, according to the International Energy Agency (IEA), electricity demand is expected to grow by 4% in 2021 and 3.5% in 2022.

Adoption of renewable energy sources: The increasing adoption of renewable energy sources such as solar and wind power is driving the demand for current-limiting fuses. This is because these fuses help in protecting the electrical equipment used in renewable energy systems from overloading and short-circuiting. For instance, according to the International Energy Agency (IEA), renewable energy sources are expected to account for 90% of the power capacity additions in 2021 and 2022.

North America dominated the current-limiting fuses market, primarily driven by the rising demand for electricity, coupled with the increasing number of smart grid initiatives in the region. In addition, the region's market is anticipated to increase as a result of the rising demand for renewable energy sources and the requirement to upgrade aging power infrastructure. According to the International Energy Agency (IEA), the U.S. is the largest producer of natural gas and oil in the world, which requires a reliable power supply to maintain its position in the market, thus leading to a high demand for current-limiting fuses.

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