Metal Oxide Varistor Market to Grow with a CAGR of 4.17% through 2027
Rising demand for connected devices and electric vehicles is driving the growth of Global Metal Oxide Varistor Market in the forecast period, 2023-2027. According to TechSci Research report, “ Metal Oxide Varistor Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027 ” , the global metal oxide varistor market stood at USD8,693.25 million in 2021 and is projected to grow at a CAGR of 4.17% in the forecast period, 2023-2027. The surge in the adoption of electric vehicles and the growing popularity of smart building concepts are the key factors driving the demand for global metal oxide varistor in the next five years. An increase in the environmental concerns and stringent emission norms implemented by the government of various countries are accelerating the demand for alternate fuel automobiles. The fluctuations in crude oil prices and limited availability on earth are fueling the adoption of electric vehicles across t...