Automotive varistor market is expected to grow at a significant CAGR during the forecast period. The use of IoT has risen dramatically in recent years, resulting in a significant surge in the development of wireless communication devices. These gadgets are made up of a variety of electronic circuits and parts. Varistors are utilised as control components in circuits to give optimal operating conditions or to protect against excessive transient voltages. Excessive transient voltages can be controlled to prevent damage to electronic circuits, lowering system maintenance costs. This feature is projected to boost varistors demand, propelling the multilayer varistors market.
Further, owing to its major benefits over replacements such as laser diodes, there has been a noticeable increase in demand for multilayer varistors. Multilayer varistors provide low-cost transmission of high connected energies, which is expected to propel the global multilayer varistors market. Furthermore, the automotive varistors market is likely to benefit from an increase in global applications of power transmission and allocation electronics. Automotive OEMs are transitioning away from combustion technology in order to increase performance, reduce emissions, and improve fuel efficiency in order to comply with regulations, and these factors are projected to drive market growth in the near future. The two most common types of varistor include metal oxide varistor (MOV) and silicon carbide varistor (SiC). The MOV is a nonlinear transient suppressor that consists of zinc oxide (ZnO). Before MOV, SiC was popular in the market that has been utilized in high voltage, high power applications. However, there is a limitation of these devices which is a significant standby current. Hence, a series gap is needed to reduce the standby power consumption.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Competitive Landscape:TDK Corp., General Electric Co., and Eaton Corporation Plc, among others.
Automotive Varistor Market Report Segmentation
By Type
- Metal Oxide Varistor
- Silicon Carbide Varistor
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Automotive Varistor Market by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
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