Metal Oxide Varistor Market Outlook 2027 By End User, Construction, Size, Share, Trends, Growth Forecast

According to TechSci Research, 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.

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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.

Market Segmentation

The Global Metal Oxide Varistor Market is segmented based on Type, End User, Construction, Sales Channel, Region and by Company. Based on Type, the market is further fragmented into Disc Metal Oxide Varistor, Strap Metal Oxide Varistor, Block Metal Oxide Varistor, Ring Metal Oxide Varistor and Others. Based on End User, the market is segmented into Consumer Electronics, Telecom Equipment, Automotive Electronics, Industrial Power Electronics, Lighting Ballasts and Others. Also, segmentation of the market based on the Construction is done into Through Hole and Surface Mounted. Based on Sales Channel, the market is segmented into Manufacturer/Distributor/Service Provider and Aftermarket. The market analysis also studies the regional segmentation divided among the Asia-Pacific region, European region, North American region, Middle East & African region, and South American region. The Asia Pacific Metal Oxide Varistor Market stood at USD3626.82 million in the year 2021 and is projected to grow at a CAGR of 4.50% during the forecast period. Asia Pacific comprises some of the most infrastructurally sound nations, such as China, Japan, Taiwan, South Korea, India and Australia.  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 Global Metal Oxide Varistor Market.

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.
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Global Metal Oxide Varistor Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Metal Oxide Varistor Market, By Type:

o   Disc Metal Oxide Varistor

o   Strap Metal Oxide Varistor

o   Block Metal Oxide Varistor

o   Ring Metal Oxide Varistor

o   Others

·         Metal Oxide Varistor Market, By End User:

• Consumer Electronics
• Telecom Equipment
• Automotive Electronics
• Industrial Power Electronics
• Lighting Ballasts
• Others
• Metal Oxide Varistor Market, By Construction:
• Through Hole
• Surface Mounted
• Metal Oxide Varistor Market, By Sales Channel:
• Manufacturer/Distributor/Service Provider
• Aftermarket

·         Metal Oxide Varistor Market, By Region:

• Asia-Pacific
• China
• Japan
• Taiwan
• South Korea
• India
• Australia
• Europe
• Germany
• United Kingdom
• France
• Italy
• Russia
• Spain
• Netherlands
• Poland
• North America
• United States
• Canada
• Mexico
• Middle East & Africa
• Saudi Arabia
• United Arab Emirates
• South Africa
• South America
• Brazil
• Argentina
• Colombia
• Chile

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Metal Oxide Varistor Market

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