This character is a Other Symbol and is commonly used, that is, in no specific script.
The glyph is not a composition. It has no designated width in East Asian texts. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. The word that U+23DB forms with similar adjacent characters prevents a line break inside it.
The Wikipedia has the following information about this codepoint:
In electronics and electrical engineering, a fuse is an electrical safety device that operates to provide overcurrent protection of an electrical circuit. Its essential component is a metal wire or strip that melts when too much current flows through it, thereby stopping or interrupting the current. It is a sacrificial device; once a fuse has operated, it is an open circuit, and must be replaced or rewired, depending on its type.
Fuses have been used as essential safety devices from the early days of electrical engineering. Today there are thousands of different fuse designs which have specific current and voltage ratings, breaking capacity, and response times, depending on the application. The time and current operating characteristics of fuses are chosen to provide adequate protection without needless interruption. Wiring regulations usually define a maximum fuse current rating for particular circuits. Short circuits, overloading, mismatched loads, or device failure are the prime or some of the reasons for fuse operation. When a damaged live wire makes contact with a metal case that is connected to ground, a short circuit will form and the fuse will melt.
A fuse is an automatic means of removing power from a faulty system; often abbreviated to ADS (Automatic Disconnection of Supply). Circuit breakers can be used as an alternative to fuses, but have significantly different characteristics.