Multilayer Varistor Market to Grow at a Steady Rate of ~10%
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.
What is Driving Demand for Multilayer Varistor?
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.
Increased Adoption for Automotive Circuit Protection to Proliferate Multilayer Varistor Demand
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.
Asia Pacific Demand Outlook for Multilayer Varistor
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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Who are the Key Manufacturers and Suppliers of Multilayer Varistor?
Some of the leading manufacturers and suppliers of multilayer varistor include
- Vishay Intertechnology Inc.
- Eaton Corporation PLC
- TDK Electronics AG
- SFI Electronics Technology Inc
- INPAQ Technology Co.Ltd.
- Cham How Corporation
- Avnet Inc.
- Murata Electronics North America Inc. and others.
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.
An Adaptive Approach to Modern-day Research Needs
Multilayer Varistor Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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- Above 1210
By End-use Industry
- Consumer Electronics
- Energy & Power
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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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