Metal Oxide Varistor Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027, Segmented By Type (Disc Metal Oxide Varistor, Strap Metal Oxide Varistor, Block Metal Oxide Varistor, Ring Metal Oxide Varistor, Others), By End User (Consumer Electronics, Telecom Equipment, Automotive Electronics, Industrial Power Electronics, Lighting Ballasts, Others), By Constr
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMetal Oxide Varistor Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027, Segmented By Type (Disc Metal Oxide Varistor, Strap Metal Oxide Varistor, Block Metal Oxide Varistor, Ring Metal Oxide Varistor, Others), By End User (Consumer Electronics, Telecom Equipment, Automotive Electronics, Industrial Power Electronics, Lighting Ballasts, Others), By Constr
Global Metal Oxide Varistor Market was valued at USD8,693.25 million in 2021 and is anticipated to project a robust growth in the forecast period with a CAGR of 4.17% due to high investment and development in industrial sector.
Metal Oxide Varistor is a type of electronic device that protects semiconductor elements from switching and induced lightning surges. It's a nonlinear device that protects a circuit against high voltage spikes by altering its resistance. The metal oxide varistor is usually made of zinc oxide or similar material. These items give the varistor its quality of passing current at normal required levels. When the electric current rises to a specific point, called a breakover point or breakover voltage, tiny particles of zinc oxide begin to conduct current. This prevents the high-voltage current from passing through all the devices and equipment connected to it. Metal oxide varistors are frequently used as voltage clamping devices to protect small or heavy devices from transient voltage surges.
Adoption of Electric Vehicles Driving Market Growth
Increasing agitation of climate change has been significant in cheering governments worldwide to adopt electric vehicles. Electric vehicles run on chargeable batteries, which can power the vehicle for several kilometers once charged. Charging ports are installed at a regular distance to recharge the battery. Metal oxide varistors can play a key role in protecting electrical components from sudden voltage surges. Thus, the various countries' electric vehicle adoption is likely to propel the demand for Global Metal Oxide Varistor Market.
Increasing Number of Electrical Equipment
Businesses worldwide have been increasingly relying on various electrical equipment. From implementing business operations to using connected devices for building operations, the demand for electrical equipment is rising. Heavy dependence on networked devices such as laptops, cell phones, and smart home devices further pumps the demand for such connected devices. However, these networked devices are highly prone to damage due to risks such as transient voltage and power surges which can be mitigated using Metal Oxide Varistor (MOV) in these devices. Thus, rising demand for connected devices and electrical equipment around the globe is expected to propel the Global Metal Oxide Varistor Market.
The Emergence of Smart City
The home automation and smart city concept have been gaining immense popularity worldwide. Smart homes make operations of the houses fast and easy with the help of sensors and networked and voice-recognition devices. Additionally, building automation increase the operational efficiency of the buildings, leading to lesser emissions from building operations. There are various factors instrumental in giving traction to the smart city concept. On the one hand, individuals and businesses have been increasingly relying on the Internet of Things (IoT) and connected devices to operate the home that they reside. On the other hand, governments worldwide have been pressing on the concept of green and energy-efficient cities, which are likely to contribute to fulfilling commitments such as reduction of carbon footprint and net zero emissions from the buildings by 2050. For instance, 28 cities, mostly from the North America and Europe regions such as Portland, London, Los Angeles, to name a few, have signed up for the ‘Net Zero Carbon Buildings Commitment’ led by the ‘World Green Building Council.’ Such factors are expected to boost demand for various connected devices essential for building automation, thus benefitting the Global Metal Oxide Varistor Market.
Increased Demand for LED Lightening
LED lights consume less energy and are more energy-efficient. Additionally, LED lights have less carbon footprint owing to reduced carbon emissions when the lights are on. Therefore, various countries have undertaken efforts to replace the high energy consuming conventional lights with LED lights. Many national governments worldwide have even formulated policies and initiatives to promote LED lights in their respective countries. For instance, the government of India has initiated replacing all conventional lights with LEDs in all government institutions and public utilities/infrastructure. However, even for the LED lights to function efficiently, the lights must have surge protection components to protect the lights from damage caused by voltage transients. Therefore, the shift from conventional lights to LED across the globe is likely to benefit the Global Metal Oxide Varistor Market.
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Market Segmentation
While the United States Metal Oxide Varistor Market stood at USD664.95 million in the year 2021 and is projected to grow at a CAGR of 3.80% during the forecast period
Company Profiles
TDK Corporation, Kemet Corporation, Vishay Intertechnology, Inc., Murata Manufacturing Co., Ltd., Littelfuse, Inc., Panasonic Corporation, Elpro International Limited, Dean Technology Inc., MDE Semiconductor, Inc., Amotech Co., Ltd., Kyocera AVX Components Corporation, General Electric Company, Moda-InnoChips Co., Ltd., Centra Science Corp., Chenshuo Electronics (Jiujiang) Co., Ltd. are among the major market players in the
| Attribute | Details |
| Market size value in 2021 | USD8,693.25 million |
| Revenue Forecast in 2027 | USD11075.90 million |
| United States Market size value in 2021 | USD664.95 million |
| Growth Rate | 4.17% |
| Base Year | 2021 |
| Historical Years | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022E-2027F |
| Report Coverage | · Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Type · End User · Construction · Sales Channel |
| Regional Scope | Asia-Pacific; Europe; North America; Middle East & Africa; South America |
| Country Scope | China; Japan; Taiwan; South Korea; India; Australia; Germany; United Kingdom; France; Italy; Russia; Spain; Netherlands; Poland; United States; Canada; Mexico; Saudi Arabia; UAE; South Africa; Brazil; Argentina; Colombia; Chile. |
| Key Companies Profiled | TDK Corporation, Kemet Corporation, Vishay Intertechnology, Inc., Murata Manufacturing Co., Ltd., Littelfuse, Inc., Panasonic Corporation, Elpro International Limited, Dean Technology Inc., MDE Semiconductor, Inc., Amotech Co., Ltd., Kyocera AVX Components Corporation, General Electric Company, Moda-InnoChips Co., Ltd., Centra Science Corp., Chenshuo Electronics (Jiujiang) Co., Ltd. |
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