Dublin, April 15, 2024 (GLOBE NEWSWIRE) -- The "Metal Oxide Varistors (MOV) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Metal Oxide Varistors (MOV) Market to Reach $27.6 Billion by 2030
The global market for Metal Oxide Varistors (MOV) estimated at US$12.6 Billion in the year 2023, is projected to reach a revised size of US$27.6 Billion by 2030, growing at a CAGR of 10.3% over the analysis period 2023-2030.
In 2023, the competitive market presence for Metal Oxide Varistors (MOVs) varied across players worldwide, with some exhibiting strong or active presence, while others occupied niche or trivial positions within the market landscape. Amidst this market scenario, the global economic update set the backdrop for understanding the broader economic conditions influencing the MOV market.
The report introduced Metal Oxide Varistors (MOVs) and explored the various types available in the market, providing insights into their applications and functionalities. Ring MOV, one of the segments analyzed in the report, is projected to record 10.8% CAGR and reach US$12.9 Billion by the end of the analysis period. Growth in the Block MOV segment is estimated at 10.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 11.6% CAGR
The Metal Oxide Varistors (MOV) market in the U.S. is estimated at US$1.4 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$8.3 Billion by the year 2030 trailing a CAGR of 11.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.6% and 8.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR.
Looking ahead, the global market prospects and outlook for MOVs were analyzed, with a focus on the dominance of Ring MOVs as the largest type within the market segment. Competition within the MOV market was assessed, shedding light on the competitive landscape and the market share of key players worldwide. Additionally, the report highlighted world brands operating in the MOV market and outlined recent market activities, providing valuable insights into the dynamics shaping the MOV industry.
MARKET OVERVIEW
- Metal Oxide Varistors (MOV) - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Global Economic Update
- An Introduction to Metal Oxide Varistor (MOV)
- Types of MOVs
- Global Market Prospects & Outlook
- Ring MOVs: The Largest Type
- Competition
- World Brands
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Need to Ensure Reliability & Safety of Electrical Power Systems Enhances Significance of MOVs
- Need for Protection Devices: Growth Opportunities for Metal Oxide Varistors
- Automotive Electronics: Rising Demand for Communication Technologies Bodes Well for the Market
- Average Value of In-Vehicle Electronics Per Vehicle (In US$) for the Years 2018, 2025 & 2030
- Breakdown of the Total Cost of Electronics in an Automobile (in %) for the Years 1970, 1980, 2000, 2017, 2020 and 2030
- As Industry 4.0 Redefines Manufacturing & Industrial Infrastructure Continues to Expand, the Imperative Need to Protect Equipment Drive Demand for MOV
- Rising Use of Smart Electronics Devices to Fuel Demand for MOVs in Consumer Electronics Sector
- Global Opportunity for Consumer Electronics (In US$ Million) for Years 2020, 2022, 2024, 2026 and 2028
- Worldwide Shipments of Smartphones, Tablets, and Laptops (in Million Units) for the Years 2019, 2021 and 2023
- Rising Use of MOVs for Outdoor LED Lighting
- Rising Importance of MOVs in Lighting Ballasts
- Telecommunication Systems Protection: MOVs Come to the Fore
- MOV Emerges as a High Performance Solution for AC Power Line Protection
- MOVs Find Use as Lightening Protection Devices
- Metal Oxide Varistor Blocks: The Main Component of Distribution Arresters
- MOV Disk: A Glance at Factors Impacting Quality
- Environmental Pollution Concerns Drive Focus on Eco-Friendly MOVs
FOCUS ON SELECT PLAYERS(Total 94 Featured)
- ABB Ltd.
- Eaton Corporation PLC
- Bourns, Inc.
- Elecsound Technology Co,. Ltd
- Jackcon Capacitor Electronics Co., Ltd.
- Cheng Tung Industrial Co., Ltd.
- Hitano Enterprise Corporation
- Continental Device India Ltd. (CDIL)
- Fatech Electronic (Foshan) Co., Ltd.
- Guangdong Hongzhi Electronics Co., Ltd.
- Elpro International Ltd.
- Fenghua (H.K.) Electronics Ltd.
- Inpaq Technology Co., Ltd.
- China Metallurgical Information and Standardization Institute (CMISI)
- Gujarat Poly Electronics Limited
For more information about this report visit https://www.researchandmarkets.com/r/b4u6n4
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