Global Metal Oxide Varistor (MOV) Market Size was valued at USD 24.3 Billion by 2035 | CAGR of 6.15%

Global Metal Oxide Varistor (MOV) Market Size was valued at USD 24.3 Billion by 2035

According to a Research Report Published by Spherical Insights & Consulting, The Global Metal Oxide Varistor (MOV) Market size is estimated to grow from USD 12.6 billion in 2024 to USD 24.3 billion by 2035, at a CAGR of 6.15% during the forecast period 2025-2035.

Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the " Global Metal Oxide Varistor (MOV) Market Size, Share, and COVID-19 Impact Analysis, By Type (Disc, Strap, Block, Ring, and Others), By Application (Consumer Electronics, Automotive, Telecommunications, Industrial Equipment, and Others), By End-User (Residential, Commercial, and Industrial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035. " Detailed Report Decription Here : https://www.sphericalinsights.com/reports/metal-oxide-varistor-mov-market

The metal oxide varistor (MOV) market focuses on devices that protect electrical and electronic circuits from transient voltage surges by clamping excessive voltages. MOVs are widely used in surge protection for consumer electronics, power supplies, telecommunications, automotive electronics, and power transmission systems, as well as in smart grids and data centers. Market growth is driven by rising demand for advanced surge protection solutions, fueled by expanding consumer electronics, solar and renewable energy, electric vehicles, and smart grid deployments. Additionally, developments in telecommunications, data centers, industrial automation, and Industry 4.0 are increasing the need for MOVs to safeguard critical components against voltage spikes, particularly in emerging markets experiencing rapid infrastructure and electronics production growth. The MOV market faces challenges as frequent voltage surges reduce durability, raising maintenance requirements.

The disc segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.

Based on the type, the metal oxide varistor (MOV) market is divided into disc, strap, block, ring, and others. Among these, the disc segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Disc MOVs are extensively used in consumer electronics and industrial applications, where space efficiency and reliability are crucial, offering versatile protection for devices ranging from home appliances to advanced industrial machinery.

The consumer electronics segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the application, the metal oxide varistor (MOV) market is divided into consumer electronics, automotive, telecommunications, industrial equipment, and others. Among these, the consumer electronics segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The growth of smart homes and IoT devices boosts demand for MOVs, as consumer electronics require consistent power and protection from voltage spikes, making MOVs essential for reliable operation.

The residential segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the end-user, the metal oxide varistor (MOV) market is divided into residential, commercial, and industrial. Among these, the residential segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Rising smart home adoption and connected devices drive residential MOV demand, as these systems need stable power and protection from electrical disturbances, making MOVs essential for safe and reliable home operation.

Asia Pacific is expected to hold the majority share of the global metal oxide varistor (MOV) market during the forecast period.

Asia Pacific is expected to hold the majority share of the global metal oxide varistor (MOV) market during the forecast period. Asia Pacific is expected to dominate the MOV market due to rapid industrialization, expanding electronics manufacturing, renewable energy projects, and smart grid development, with countries like China, India, Japan, and South Korea driving demand for reliable surge protection solutions across multiple sectors.

North America is anticipated to grow at the fastest pace in the global metal oxide varistor (MOV) market during the forecast period. Strong technology company presence and continuous investments in infrastructure and renewable energy are fueling MOV demand in North America, with the United States and Canada leading growth through smart infrastructure development and technological innovation initiatives.

Major vendors in the global metal oxide varistor (MOV) market are TDK Corporation, Eaton Corporation PLC, Vishay Intertechnology, Littelfuse, Inc., ABB, Bourns, Inc., Panasonic Corporation, KEMET Corporation, General Electric, EPCOS AG, Siemens AG, Murata Manufacturing Co., Ltd., Dean Technology, Inc., KYOCERA AVX Components Corporation, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development 

• In January 2024, Bourns, Inc. launched the EdgMO varistor series, offering advanced, space-saving surge protection. With flexible voltage and surge rating options, designers can optimize clamping voltage, reduce leakage current, and enhance reliability. The series supports compact, high-performance protection for diverse electronic applications.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the metal oxide varistor (MOV) market based on the below-mentioned segments:

Global Metal Oxide Varistor (MOV) Market, By Type

• Disc
• Strap
• Block
• Ring
• Others

Global Metal Oxide Varistor (MOV) Market, By Application

• Consumer Electronics
• Automotive
• Telecommunications
• Industrial Equipment
• Others

Global Metal Oxide Varistor (MOV) Market, By End-User

• Residential
• Commercial
• Industrial

 Global Metal Oxide Varistor (MOV) Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 
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