Chip MOV Market Outlook: Steady Growth Expected, Reaching $116.5 Mn by 2031
The Global Chip Metal Oxide Varistor (MOV) Market ( チップ金属酸化物バリスタ（MOV）市場),
valued at US$ 82.2 million in 2022, is projected to expand at a compound annual
growth rate (CAGR) of 3.9% from 2023 to 2031, reaching a market size of US$
116.5 million by the end of 2031.
Metal oxide varistors (MOVs) have garnered significant
attention and widespread adoption within the automotive industry due to their
unparalleled ability to absorb and dissipate large energy surges. These
components are essential for protecting automotive electronics against voltage
spikes and transients, thus ensuring the longevity and reliability of modern
vehicles.
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Advancements in Material Science and Miniaturization
The trend towards compact and space-saving designs in the
electronics sector has accelerated the development of smaller, yet highly
efficient, chip MOVs. Innovations in material science and manufacturing
processes have facilitated the creation of chip MOVs that maintain robust
electrical characteristics and surge protection capabilities despite their
reduced size. Key manufacturers are now focusing on automotive-specific
products that comply with stringent industry standards and certifications.
Market Growth Drivers
1. Increasing Need for Circuit Protection: The
complexity and miniaturization of electronic devices have made them more
vulnerable to damage from transient overvoltage events, such as lightning
strikes, power surges, and electrostatic discharge (ESD). Chip MOVs (칩 금속 산화물 배리스터(MOV) 시장), particularly surface-mount
devices (SMD), offer an effective solution to these challenges, safeguarding
electronic components from such disruptions.
2. Rising Demand from the Automotive Industry: With
the automotive sector experiencing significant growth, driven by increased
vehicle production and technological advancements, the demand for robust
circuit protection components like MOVs is surging. Modern automotive
electronics, especially those in electric vehicles (EVs), advanced
driver-assistance systems (ADAS), and in-vehicle infotainment systems, require
reliable protection against voltage transients.
3. High Demand for Array Chip MOVs: The demand for
smaller, more compact electronic devices has highlighted the advantages of
array chip MOVs. These components allow for higher packing density, offering
robust protection within a smaller footprint. Their improved performance
characteristics, including lower capacitance and faster response times, make
them suitable for applications requiring precise and reliable overvoltage
protection.
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Regional Market Insights
Asia Pacific: As a major hub for consumer
electronics, Asia Pacific continues to dominate the chip MOV market. Countries
like China, Japan, South Korea, and Taiwan are key players in the production
and export of electronic devices. The region's growth is fueled by the burgeoning
consumer electronics market, rapid industrialization, and infrastructure
development, including the expansion of telecommunications networks and the
adoption of electric vehicles.
North America: Known for its advanced electronics
sector and stringent safety regulations, North America maintains a mature
market presence. The region's focus on reliable overvoltage protection
solutions drives the demand for high-performance chip MOVs.
Europe: Europe's diverse industrial base,
encompassing automotive, aerospace, telecommunications, and industrial
manufacturing, contributes to the growing demand for chip MOVs. The adoption of
electric vehicles, renewable energy systems, and smart grid infrastructure
further propels market growth in the region.
Key Players and Developments
Major industry players, including Vishay Intertechnology
Inc., Eaton Corporation PLC, Littelfuse Inc., TDK Electronics AG, SFI
Electronics Technology Inc., KYOCERA AVX, Panasonic Industry Co., Ltd., Samwha
Capacitor Group, Walsin Technology Corporation, and INPAQ Technology Co., Ltd.,
are at the forefront of innovation in the chip MOV market.
Recent Developments:
- In
March 2020, TDK Corporation introduced a new range of Open Mode chip
varistors designed for automotive assemblies connected to the battery,
offering reliable protection against transient surge voltages.
- In
2022, Panasonic commercialized ZNR high energy varistors to protect
automotive ECUs from load dump surges, responding to the increased
digitization and electrification of vehicles.
- On
July 10, 2017, AVX Corporation released SPICE models for its CapGuard
Automotive and TransGuard Automotive Series multilayer varistors,
facilitating more efficient and cost-effective electronic design
processes.
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