Published: Jun, 2018
The global metal oxide varistor market is competitive in nature with a high number of players operating in it across the globe, stated a new market research study by Transparency Market Research. The expected rise in the number of companies, especially local players is projected to strengthen the competitive scenario of the overall market in the next few years. Some of the key players operating in the global metal oxide varistor market across the globe are General Electric, TDK Corp., KEMET Corp., MDE Semiconductor Inc., Moda-Innochips Co. Ltd., Dean Technology Inc., Amotech Corp., Centra Science Corp., Vishay Intertechnology Inc., and Murata Manufacturing Co. Ltd. A rise in the research and development activities is considered as one of the key factors estimated to accelerate the growth of the overall market in the next few years and enhance the competitive scenario across the globe.
According to the research report by Transparency Market Research, in 2016, the global market for metal oxide varistor was worth US$7.73 bn and is predicted to reach a value of US$20.79 bn by the end of 2025. The market is projected to register a promising 11.7% CAGR between 2017 and 2025.
Development of Industrial Infrastructure to Drive Asia Pacific Market
The global metal oxide varistor market has been categorized on the basis of geography into the Middle East and Africa, Latin America, North America, Asia Pacific, and Europe. Among these, Asia Pacific is projected to witness a healthy growth throughout the forecast period. In the last few years, this region accounted for a large share of the market and is likely to remain in the similar position in the next few years. The high development of the industrial infrastructure and the increasing investments in the communication technologies are some of the key factors that are projected to encourage the growth of the Asia Pacific market in the next few years. Furthermore, the Middle East and Africa is predicted to witness a healthy growth in the next few years.
On the basis of type, the global market for metal oxide varistor has been categorized into strap metal oxide varistor, disc metal oxide varistor, ring metal oxide varistor, and block metal oxide varistor. The ring metal oxide varistor is estimated to witness high growth and account for a large share of the global market in the next few years. As per the study, this segment is likely to maintain its leading position in the coming years, further followed by the disc metal oxide varistor segment throughout the forecast period.
Growing Demand for electronics to Drive Global Metal Oxide Varistor Market
Metal oxide varistors are also known as surge-suppressor, which are considered as an essential electronic component that protects the electronic products from high voltage. Thanks to this, the demand for metal oxide varistor is projected to increase significantly throughout the forecast period. In addition to this, the increasing popularity and the number of applications of Internet of Things by a large number of industry players is considered as another major factor, which is likely to accelerate the growth of the global metal oxide varistor market in the next few years. Furthermore, the rising defense budget and the growing demand for the manufacturing of electronic devices are further projected to enhance the overall growth of the market in the coming few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Metal Oxide Varistor (MOV) Market (Type - Disc, Strap, Block, and Ring; End User - Automotive Electronics, Line Voltage Equipment, Wireless Handset Telecommunication, Industrial Power Electronics, Consumer Electronics, and Lighting Ballasts; Construction - Surface Mount and Through Hole; Composition - Zinc Oxide) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
- The leading players in the global metal oxide varistor market to focus on the development of new products to encourage market growth.
- Development of electronics market to encourage growth of the Asia Pacific market for metal oxide varistor in the next few years.
The global metal oxide varistor market has been segmented as below:
Global Metal Oxide Varistor Market, By Type
- Disc metal oxide varistor
- Strap metal oxide varistor
- Block metal oxide varistor
- Ring metal oxide varistor
Global Metal Oxide Varistor Market, By End User
- Automotive Electronics
- Line Voltage Equipment
- Wireless Handset Telecommunication
- Industrial Power Electronics
- Consumer Electronics
- Lighting Ballasts
Global Metal Oxide Varistor Market, By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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