The global EV fuse market is projected to grow significantly, reaching an anticipated value of US$ 5.6 billion by 2031, according to a report by Stratview Research. This growth accompanies an annual rate of 13.9% from 2024 to 2031, driven by the increasing adoption of electric vehicles (EVs) including battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs). The market segmentation includes various types of fuses used across different applications, with low-voltage fuses dominating by volume due to their widespread use, while high-voltage fuses lead by value for their roles in critical high-voltage systems. Asia-Pacific is expected to be the leading region, supported by its strong EV production infrastructure and growing EV adoption, followed by Europe, which benefits from strict regulations and increasing EV production capabilities.

Elsewhere in the market, LG Energy Solution was a notable mover up 4.9% and closing at ₩330,500. At the same time, Zebra Technologies lagged, down 17.1% to finish the session at $238.50, not far from its 52-week low.

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Don't miss our Market Insights article, "Automakers Caught In The Tariff Crossfire," for timely analysis of EV market turbulence amid tariff uncertainties.

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• NIO settled at $3.74 down 1.6%, close to the 52-week low.
• Tesla finished trading at $267.28 down 5.5%. On Wednesday, the company announced it delivered 336,681 vehicles and produced 362,615 in Q1 2025, with 10.4 GWh of energy storage deployed.
• Ford Motor finished trading at $9.54 down 6%.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Sources:

• Simply Wall St
• "EV Fuse Market is Forecasted to Reach US$ 5.6 Billion in 2031, Says Stratview Research" from Stratview Research on GlobeNewswire (published 03 April 2025)

Companies discussed in this article include KOSE:A373220 NYSE:NIO NasdaqGS:TSLA NYSE:F and NasdaqGS:ZBRA.

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