Industry's Invisible Champion in Fuses:SINOFUSE

Industry's Invisible Champion in Fuses:SINOFUSE

Fuse Industry:

A fuse is a device that protects circuits from overcurrent. In operation, the fuse is connected in series within the circuit, with the load current flowing through it. When a short circuit or overload occurs, the thermal effect of the excess current causes the fuse element to melt and vaporize, creating an open circuit. This open circuit generates an electric arc, which the fuse extinguishes to cut off the faulty circuit, thereby protecting the circuit.

Depending on the strength of the electricity and different application scenarios, fuses can be divided into electronic fuses and power fuses. Electronic fuses are generally suitable for low voltage, small power, and electronic control circuits, mainly used in various electronic products, household appliances, automotive low-voltage circuits, etc. Power fuses are generally suitable for high voltage, large power circuits, mainly used in traditional power generation, transmission and distribution, metallurgy, mining, electrochemical industry, communication, new energy wind and solar power generation and storage, new energy vehicles, rail transit, ships and other industrial fields.

Market Competition:

According to statistics from Paumanok Publications Inc., in the global fuse industry in 2019, Littelfuse, Eaton Bussmann/Bussmann, Mersen/Mersen, PEC, SCHURTER, ABB, and SOC collectively held approximately 90% of the global market share. Zhongrong Electric accounted for 1.3% of the global share and is in the process of accelerating its catch-up.

Company Analysis: Zhongrong Electric

Main Business:

The company's main business is in fuse products, including power fuses, electronic fuses, and impulse fuses. Among them, power fuses can be widely used in new energy vehicles, wind and solar power generation and storage, rail transit, and communication fields. The category is the most abundant, including round tube fuses, square body fuses, and chip fuses. Each series of products has different uses, which can meet the differentiated needs of customers in different business fields.

Key Customers:

The company ranks first in the domestic market share for fuse products in the new energy vehicle industry, having entered early into the supply chains of leading new energy vehicle enterprises such as Tesla, BYD, and CATL. According to a research report by the China Electric Vehicle Hundred People's Association, in 2019, the company held a 55% market share in fuses for new energy vehicles, ranking first in the industry.