Metal Oxide Varistor Market: Recent Industry Developments and Growth Strategies Adopted by Players

The global market for metal oxide varistor (MOV) has been deriving much growth from the rising popularity of Internet of Things (IoT) across the world. The extensive increase in the demand for consumer electronic goods and the upsurge in the adoption of metal oxide varistor in automobile applications are also boosting the market’s progress remarkably.

Over the forthcoming years, the global market for MOV is likely to witness substantial growth at a healthy CAGR of 11.7% from 2017 to 2025. The opportunity in this market is expected to increase from a value of US$7.73 bn in 2016 to US$20.79 bn by the end of 2025. The market, although looks thriving at present, it may face challenges from the dynamic nature of the semiconductor and electronics industry in the coming years.

Browse the Report @

https://www.transparencymarketresearch.com/metal-oxide-varistors-market.html

Demand for Ring MOV to Remain Strong

Based on the type of MOV, the global MOV market has been classified into disc MOV, strap MOV, block MOV, ring MOV, and various other types, such as chip varistor and multilayered chip varistor. The ring MOV segment held the leading position in the global market in 2016 with a share of more than 44%.

On the basis of construction, the global market has been segmented into surface mount MOV and through-hole MOV. Although marginally, the through-hole MOV segment has been leading the overall market and is intended to remain doing so throughout the next few years.

Request Sample @

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=15548

Asia Pacific to Continue as Global Leader

In terms of the geography, Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America have been considered as the prominent segments of the worldwide MOV market. Driven by the increasing demand for smart devices, Asia Pacific led this market in 2016 with a share of more than 54%.

The market for MOV in the Middle East and Africa, which stood second in 2016, is also projected to retain its place in the near future, thanks to the increasing demand for consumer electronics, smart automobile applications, technologically advanced healthcare devices, and process automation systems in the power, and the oil and gas industries. Among others, the Europe MOV market is anticipated to witness healthy growth in the years to come on account of the rising number of smart phone users.

TDK Corp., General Electric, KEMET Corp., Moda-Innochips Co. Ltd., MDE Semiconductor Inc., Dean Technology Inc., Centra Science Corp., Amotech Corp., Vishay Intertechnology Inc., and Murata Manufacturing Co. Ltd. are some of the prominent players operating in the global MOV market.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.