Disc Metal Oxide Varistor Market Share Driven by Grid Modernization and Surge Protection Demand | Valuates Reports

Disc Metal Oxide Varistor- Market Size
The global market for Disc Metal Oxide Varistor was estimated to be worth US$ 929 million in 2024 and is forecast to a readjusted size of US$ 1022 million by 2031 with a CAGR of 1.4% during the forecast period 2025-2031.

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The Disc Metal Oxide Varistor market is experiencing strong momentum as industries prioritize advanced surge protection solutions to support modern power distribution systems and sensitive electronic infrastructure. Evolving market trends indicate rising adoption of high-performance varistors for safeguarding communication networks, industrial equipment, and renewable energy installations. The push toward grid resilience, expanding digitalization, and continuous upgrades in electrical safety standards continue to shape the overall market size and create sustained market growth across global applications.

In the type segment, LV MOV devices account for a significant market share due to their wide usage in consumer electronics, low-voltage panels, and industrial control systems. Their reliability, compact structure, and stable clamping performance make them the preferred choice for mainstream surge protection. HV-MV MOV units are witnessing faster expansion as utilities and heavy-duty industries increase the deployment of high-voltage protection systems needed for substations, transmission networks, and large-scale energy equipment. Together, both segments reinforce strong design diversity aligned with evolving market trends in safety and performance.

Across applications, the power sector leads the market as distribution networks, transmission lines, and substations rely heavily on disc MOV technology to ensure uninterrupted operation and equipment safety. The telecommunication segment is expanding quickly with increasing demand for stable connectivity and protection of network hardware. Additional adoption in building, railway, petrochemical, new energy, and other industrial environments also contributes significantly to overall market size, supported by the growing need for robust surge mitigation solutions across mission-critical operations.

Key companies including ABB, Siemens, Toshiba, Elpro, MacLean Power Systems, OTOWA Electric, MEIDENSHA CORPORATION, Nanyang Jinguan, Pinggao, RIGHT ELECTRIC, Zhejiang Bitai, YUEQING TIANYI, Nanyang Zhongwei, Nanyang Jinniu, and Wuhan Yinghe maintain strong competitive positions through advanced material engineering, manufacturing expertise, and continuous product improvements. Their emphasis on quality, durability, and performance reliability strengthens their market share while their investments in technology and global distribution networks support ongoing market growth.

Regionally, Asia-Pacific, led by China, Japan, and South Korea, dominates production and consumption due to rapidly expanding industrial infrastructure and extensive power system upgrades. North America and Europe also contribute significantly, driven by modernization of grid networks and rising protection requirements across utilities and commercial facilities. Markets in Southeast Asia, Latin America, the Middle East, and Africa continue to gain traction as industrialization and electrification accelerate. According to the broader market forecast, rising investment in renewable energy, digital infrastructure, and utility modernization will continue to drive innovation, strengthening long-term growth prospects for the global Disc Metal Oxide Varistor market.

Segment by Type

• LV MOV
• HV-MV MOV

Segment by Application

• Telecommunication
• Power
• Building
• Railway
• Petrochemical
• New Energy
• Others

By Company

ABB, SIEMENS, TOSHIBA, Elpro, MacLean Power Systems, OTOWA Electric, MEIDENSHA CORPORATION, Nanyang Jinguan, Pinggao, RIGHT ELECTRIC, Zhejiang Bitai, YUEQING TIANYI, Nanyang Zhongwei, Nanyang Jinniu, Wuhan Yinghe

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