Automotive fuse boxes are basic electronic modules of the car that are used for protecting devices associated through wiring. Such fuse boxes are utilized for circuits possessing a DC capacity of more than 24 volts; however, in some situations, they are used for systems with capacity of 42 volts.
Rise in number of the electronic components in the vehicle, in order to provide more advanced safety and security features, is a major reason that is driving the penetration of fuse boxes in the automotive industry. Production of automotive fuse boxes is directly proportional to the production of vehicles across the globe. Hence, increase in vehicle production is likely to propel the market for automotive fuse boxes. Introduction of electric vehicle is a major factor driving the automotive fuse boxes market, as electric vehicles possess more complex electronic systems.
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An advanced fuse box is required in order to protect these complex electronic systems. Surge in the number of electronic, electrical, and electro-mechanical features in cars has led to several innovations in the design and operation of vehicle power modules, with fuse boxes as the only choice to guard the circuits. Traditional automotive fuse boxes dominate the market; however, there exists a demand for light, low unit cost, and more intelligent electronic fuse boxes. This, in turn, is anticipated to offer a probable solution for cutting down costs and reduce weight of vehicles substantially.
The global automotive fuse boxes market can be segmented based on type, mounting, vehicle type, electric vehicle type, sales channel, and region.
Based on type, the automotive fuse boxes market can be classified into blade, glass tube, Bosch, and others. Blade type fuse boxes are extensively utilized in vehicles owing to their higher efficiency, low cost, and simpler design. Bosch type of fuse boxes are mostly utilized in older vehicles and the automotive fuse boxes market share held by the Bosch segment is anticipated to decline during the forecast period. Therefore, the segment is likely to register a minimal (CAGR) between 2018 and 2026.
In terms of mounting, the automotive fuse boxes market can be divided into battery mounted fuse boxes and others.
Most fuse boxes are integrated in passenger vehicles, as passenger vehicles have a higher number of advanced features and they have more advanced and complex electronic systems. Furthermore, passenger vehicles are higher in numbers in the automotive industry, as compared to commercial vehicles. Hence, the passenger vehicle held a major share for the automotive fuse boxes market in 2017. Regulatory bodies are enacting stringent norms on commercial vehicles for safety and security of these vehicles. Hence, vehicle manufacturers are providing various functionalities for commercial vehicles, thereby driving the commercial vehicle segment of the automotive fuse boxes market.
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Radical shift from conventional internal combustion (IC) engines to the battery electric vehicles is boosting the share of the electric vehicles in the automotive market. In terms of electric vehicle type, the automotive fuse boxes market can be split into battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle.
According to sales channel, the automotive fuse boxes market can be bifurcated into OEM and aftermarket. Regular replacement, due to failure in the fuse boxes systems, is likely to boost the aftermarket segment.
Based on region, Asia Pacific is likely to lead the global automotive fuse boxes market, followed by Europe, North America, Latin America, and Middle East & Africa.
Global players operating in the automotive fuse boxes market include Eaton, Mersen, LEONI Wiring Systems, Hella KGaA Hueck & Co, Cooper Industries, Littelfuse, Inc., and MTA advance automobile Solution.
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