221 Users Online
Metal Oxide Varistors Market
Metal oxide varistors is a voltage-dependent resistor and nonlinear device that provides excellent transient voltage suppression. Metal oxide varistors are the most prevalent technology used in electrical transient protection products, which are used to protect various types of electronic devices and semiconductor elements from electrostatic discharge, inductive load switching, and lightning. Metal oxide varistors are used for over-voltage protection, line to line protection, arching protection, voltage spike protection, and switching protection. Due to these factors, the Metal oxide varistors market would grow at steady rate, during the forecast period.
The COVID-19 pandemic has impacted global economics and many industries like semiconductors and electronics. The COVID-19 impact across the electronic and semiconductor industry faces significant monetary losses and a substantial decrease in market growth. Due to the pandemic lockdown, the supply chain from raw materials to final products would take months to recover. Expected recovery scenarios suggest that semiconductor sector will experience negative year-on-year revenue growth in 2020. Due to the COVID-19 outbreak, the semiconductor market has decline significantly in 2020, which also affects the growth of the metal oxide varistors market.
Increasing Demand from Semiconductor and Electronics Industry to Drive Metal oxide varistors Adoption
The metal oxide varistors market is looking to ensure opportunities in various industries such as consumer electronics, industrial, telecommunication, automotive, and semiconductor. The increasing demand for semiconductors, and electronic devices and developing the demand for electronic products with sophisticated characteristics, comfort, and connectivity are some of the main variables driving the development of the market for metal oxide varistors.
Metal oxide varistors are widely used in the electronic and communication industry to protect the circuit and its components. The metal oxide varistors absorbs the potentially harmful energy and protects the circuit from damage. Hence, the increasing number of electronic devices and circuits is increasing the demand for a metal oxide varistors.
Increasing Use of Metal Oxide Varistors for Outdoor LED Lighting
LED lighting is increasingly replacing legacy light sources in outdoor applications. A variety of surge protective devices are used in outdoor LED lighting to restrain surge energy and minimize surge impact. Metal oxide varistors are generally used for surge protection in power distribution panels due to their high surge energy handling capability and quick response to transient voltage. Therefore, metal oxide varistors are also suitable for use as surge protection devices in outdoor LED lighting applications. Hence, with the rise in outdoor LED lighting, the market is expected to grow in the coming years.
Some of the prominent players in metal oxide varistors market are TDK Corp., KEMET Electronics Corporation, Centra Science Corp., MDE Semiconductor, Amotech Corp., Vishay Intertechnology, Moda-Innochips, General Electric, Murata Manufacturing Co. Ltd., Panasonic Corporation, Littelfuse, Inc., Dean Technology, and among others.
Based on the region, the metal oxide varistors market has been segmented into North America, Latin America, East Asia, Europe, South Asia & Pacific, and Middle East & Africa. North America is holding the largest market share due to the increasing deployment of IoT connected devices demanding metal oxide varistor, as well as the presence of several local manufacturers that provide metal oxide varistor. The increasing demand for IT hardware in East Asia and South Asia & the Pacific is boosting the metal oxide varistor market in the region, which is promoting many market players to boost their manufacturing capacity.
The metal oxide varistors market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with Metal oxide varistors market attractiveness as per segment. The metal oxide varistors market report also maps the qualitative impact of various market factors on metal oxide varistors market segments and geographies.