Analysis of Multilayer Varistor market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The multilayer varistor market is anticipated to grow at a CAGR of 10% during the forecast period 2021-2031, and is estimated to reach US$ 100 Mn by 2021. Multilayer varistors are largely used in various applications, owing to its high transient energy absorption ability.
The multilayer varistor are basically used to protect electronics circuit used in mobile phone, scanner, motherboard, handheld device, and I/O Port such as VGA, USB, PS2 and RS232. Owing to significant advantages offered by multilayer varistors, its demand is expected to increase in the coming period.
Due to increasing urbanization, the adoption of IoT is largely increased and owing to this the growth can be seen in the development of wireless communication devices, which is increasing multilayer varistor demand. In addition, to protect against excessive transient voltages and to deliver optimal operating conditions the multilayer varistors are used as a control element in circuits of various electronic devices.
Controlling excessive transient voltages can prevent any electronic circuit from damage which will reduce the maintenance cost of the system. Thus features of multilayer varistors such as voltage stabilization, high reliability, and cost effectiveness are some of the major factors that are expected to propel the growth of the market during the forecast period.
Multilayer varistors offers transmission of elevated connected energies at low cost which is likely to drive the sales of multilayer varistors across industries. Furthermore, the rise in applications of power transmission and allocation electronics is expected to propel the multilayer varistors demand, globally.
Multilayer varistors are used to design transient voltage suppression, which are used to prevent damage to circuits and sensitive devices from voltage spikes. Today’s automobiles employ electronics for assisted driving, self-driving, communications, safety, engine performance optimization with engine control unit (ECU), navigation and cameras.
Moreover, the ADASs (advanced driver assistance systems) in current automobiles and electric vehicles have multiple processors as well as high-current sensors and actuators. Thus these vehicles will require transient voltage suppression devices for protection against voltages spikes without increases in size and weight of the components. Hence the increased adoption of multilayer varistors in automotive industry is expected to create more opportunities in the market.
The demand for multilayer varistors is anticipated to grow at a significant rate in Asia Pacific region owing to rapid expansion and presence of end user industries like telecommunication, automotive, energy & power, manufacturing and others across the developing economies like South Korea, Japan and India.
In addition, most of the key players have manufacturing and production facilities in this region, thus it is another significant factor driving production of multilayer varistor. However, during the COVID-19 pandemic outbreak in 2020, most of the manufacturing plants in China and Japan were closed down during the lockdowns imposed by government, or were functional with minimal operations. This has impacted the supply and demand for most of the semiconductor products. However, during Q4, 2020, the market recovered back slightly and is anticipated to grow at a steady growth rate.
Moreover, the up-gradation of electric circuits and networks in the U.S. and Europe is also expected to lead to the higher demand for multilayer varistors in these regions.
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Some of the leading manufacturers and suppliers of multilayer varistor include
Key players in the market are focusing on expanding and deploying new lineup of multilayer varistors to meet rising demands from various end-user industries. For instance, Littelfuse, Inc. is a leading manufacturer of sensing, circuit protection products, and power control. The company’s products are largely used in applications that use electrical energy. The company largely focuses on strategic acquisitions to broaden its product offerings to the automotive, industrial and consumer industry.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, 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 market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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According to Fact.MR's recent studies, the multilayer varistor market is anticipated to expand at a CAGR of 10% between 2022 and 2032, reaching US$ 100 million by 2022.
Because of increased urbanization, IoT adoption is rising, and as a result, development can be observed in the development of wireless communication devices, which is boosting multilayer varistor demand.
The Multilayer Varistor market will generate its major share in the Asia Pacific due to rapid growth & presence of end-user sectors such as telecommunication, automotive, energy & power, & manufacturing.
The multilayer varistor market is likely to be worth US$ 110 Million in 2022.
The multilayer varistor market has high growth potential due to high demand and usage in electronic circuits from high protection against damage occurrence.
The manufacturers in the multilayer varistor industry are likely to find the most opportunities in the North American region.
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