Metal Oxide Varistors (MOV) for Surge Arresters Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The Metal Oxide Varistors (MOV) for Surge Arresters market has seen significant growth from 2018 to 2022. MOVs, known for their voltage-dependent characteristics, play a vital role in protecting electrical equipment from transient voltage surges. The surge arresters equipped with MOVs are commonly used across industries like power transmission, automotive, and electronics, making this sector indispensable for critical infrastructure protection.
As demand for reliable power systems increased over the past few years, the market for MOVs has expanded steadily. The key drivers include a growing awareness of the need for surge protection, the rising adoption of renewable energy sources, and an increasing number of electronic devices that require surge protection. By 2022, the global MOV market had established itself as a crucial component for ensuring electrical safety.
Looking ahead, the outlook for the Metal Oxide Varistors (MOV) for Surge Arresters market from 2023 to 2033 shows considerable potential. As industries continue to face higher surge risks, the demand for MOVs is expected to rise exponentially. With advancements in power grids, renewable energy technologies, and the growing need for more robust electrical protection, the market is likely to grow significantly in the coming decade.
Key factors contributing to this growth include stricter regulations surrounding electrical safety, growing investments in power grid modernization, and the increasing focus on the protection of sensitive electronic devices. In particular, industries like automotive and telecommunications are likely to see accelerated demand for MOV-based surge arresters. Additionally, the growing trend of electrification and automation in industrial processes will require more sophisticated surge protection solutions, further fueling the market.
The rise in electric vehicles (EVs), coupled with more complex charging infrastructure, is another catalyst for demand in the MOV surge arrester market. The need to prevent power surges during the charging process is crucial to ensure the longevity and safety of electric vehicle batteries and charging stations. This trend is expected to persist throughout the forecast period.
Looking at the future, manufacturers are expected to invest in research and development to innovate MOV materials and technologies that can withstand increasingly complex power surges. With a growing emphasis on sustainability and energy efficiency, there is also a shift toward producing MOVs that are environmentally friendly and have a longer operational life.
Get an In-Depth Research Analysis of the Global Metal Oxide Varistors (MOV) for Surge Arresters Market Size And Forecast [2025-2032]
Hitachi Energy
Toshiba
Meiden (Tridelta Meidensha)
Hubbell
Siemens
Lamco Industries
China XD Group
HENGDA ELECTRIC
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Metal Oxide Varistors (MOV) for Surge Arresters Market
Distribution Class Surge Arresters
Station Class Surge Arresters
Others
Based on Types the Market is categorized into Below types that held the largest Metal Oxide Varistors (MOV) for Surge Arresters market share In 2023.
5kA ZnO Blocks
10kA ZnO Blocks
20kA ZnO Blocks
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ Metal Oxide Varistors (MOV) for Surge Arresters Market Research Analysis
1. Introduction of the Global Metal Oxide Varistors (MOV) for Surge Arresters Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Metal Oxide Varistors (MOV) for Surge Arresters Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Metal Oxide Varistors (MOV) for Surge Arresters Market, By Type
6. Global Metal Oxide Varistors (MOV) for Surge Arresters Market, By Application
7. Global Metal Oxide Varistors (MOV) for Surge Arresters Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Metal Oxide Varistors (MOV) for Surge Arresters Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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