Global Metal Oxide Varistor (MOV) Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• In May 2023 Infineon Technologies AG has launched its latest generation of power MOSFETs for automotive applications, the OptiMOS 740 V MOSFET family, in a variety of lead-free and rugged performance packages.

• In January 2024, high,energy MOVs with enhanced surge protection were introduced for renewable energy systems and EV charging stations.

The global metal oxide varistor (MOV) market is categorized by type into several distinct segments, including disc varistor, strap varistor, block varistor, ring varistor, and other varistors. Among these, disc varistors hold the largest market share, owing to their widespread use in protecting electronic circuits from voltage surges. Disc varistors are known for their cost-effectiveness and ability to handle high-voltage surges, making them suitable for various applications in consumer electronics, industrial machinery, and automotive sectors. Strap and block varistors are typically used in specific applications requiring higher current and power handling capacity, while ring varistors are often found in telecommunications equipment.

The construction category of metal oxide varistors is divided into surface mount MOV and through-hole MOV. Surface mount MOVs are gaining significant traction due to their compact size and ease of integration into modern electronics, where space is a premium. Their use is particularly evident in consumer electronics, automotive electronics, and communication devices, where efficient space utilization is essential. Through-hole MOVs, while relatively larger, continue to be used in industrial and heavy-duty applications, offering superior power handling capabilities and robust physical connections.

Geographically, the MOV market is well-distributed across different regions, with North America, Europe, and Asia Pacific leading the market due to the high demand for electronic components in consumer electronics, automotive, and industrial sectors. The Asia Pacific region, in particular, is experiencing significant growth, driven by rapid technological advancements, increasing electronic device production, and the region's prominence as a manufacturing hub. North America and Europe continue to dominate in terms of technological innovations and high-value applications, particularly in industrial equipment and energy protection systems.

The Middle East, Africa, and Latin America represent emerging markets for MOVs, with steady growth in industries such as renewable energy, telecommunications, and automotive. As these regions invest more in infrastructure development and energy efficiency, the demand for protective components like MOVs is expected to rise. The market in these areas is also supported by increasing industrialization and growing consumer electronics adoption, providing further opportunities for the expansion of MOV technologies.

Global Metal Oxide Varistor (MOV) Segment Analysis

In this report, the Global Metal Oxide Varistor (MOV) Market has been segmented by Type, Construction and Geography.

Global Metal Oxide Varistor (MOV) Market, Segmentation by Type

The global metal oxide varistor (MOV) market is segmented by Type into Disc varistor, Strap varistor, Block varistor, Ring varistor and Other Varistor.

Disc varistors are the most common type, widely used in electronic circuits for their ability to provide reliable surge protection in compact, cost-effective designs. Their circular shape allows them to be easily integrated into various electronic devices, making them popular in consumer electronics, automotive applications, and power supply systems.

Strap varistors are designed with a strap-like form factor that is ideal for use in high-voltage applications. They are often employed in power distribution systems and industrial environments where robust surge protection is required. Their design allows for effective dissipation of high-energy transients, ensuring the protection of sensitive equipment in demanding conditions.

Block varistors offer a rugged design suitable for high-energy and high-voltage applications. Their block-like structure is often used in large-scale industrial settings and utility infrastructure where heavy-duty surge protection is necessary. Ring varistors are used in applications where space is limited but high protection is still needed, often in telecommunications and networking equipment. The "other varistor" category includes various specialized designs and configurations that cater to niche applications and specific requirements across different industries. This segmentation allows for tailored solutions that address diverse protection needs in the MOV market.

Global Metal Oxide Varistor (MOV) Market, Segmentation by Construction

The global metal oxide varistor (MOV) market is segmented by Construction into Surface Mount MOV and Through Hole MOV.

Each catering to different application needs and design requirements. Surface mount MOVs are designed for use in modern electronic circuits where space is limited and high-density assembly is required. Their compact form factor allows for easy integration onto printed circuit boards (PCBs) using surface mount technology (SMT). This type of MOV is ideal for applications in consumer electronics, telecommunications, and compact devices where minimizing board space is crucial.

Through hole MOVs are designed for applications where a robust mechanical connection and higher power handling capabilities are needed. These MOVs are inserted into holes drilled in the PCB and soldered on the opposite side, providing a strong and durable connection. They are typically used in larger, more rugged applications such as industrial equipment, power supplies, and automotive systems where the additional mechanical stability and heat dissipation are beneficial.

The segmentation into surface mount and through hole MOVs allows manufacturers to offer tailored solutions for a wide range of electronic and industrial applications. Surface mount MOVs support the trend toward miniaturization and high-density packaging, while through hole MOVs address the need for robust, high-power protection in more demanding environments. This segmentation ensures that the MOV market can meet the diverse needs of various industries and applications.

Global Metal Oxide Varistor (MOV) Market, Segmentation by Geography

In this report, the Global Metal Oxide Varistor (MOV) Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Metal Oxide Varistor (MOV) Market Share (%), by Geographical Region, 2024

The global metal oxide varistor (MOV) market is segmented by geography into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is a key market due to its advanced electronics sector, stringent safety regulations, and significant demand for high-quality surge protection solutions. The United States and Canada drive market growth through extensive use of MOVs in consumer electronics, automotive systems, and industrial applications.

Europe also represents a significant market for MOVs, supported by its strong industrial base and emphasis on high safety standards. Major economies such as Germany, the United Kingdom, and France contribute to demand through their advanced manufacturing sectors and regulatory requirements. The European market is characterized by a focus on innovation and compliance with rigorous electrical safety standards.

Asia-Pacific is experiencing rapid growth in the MOV market due to increasing industrialization, urbanization, and technological advancements in countries like China, India, and Japan. The region's expanding electronics manufacturing industry and growing consumer electronics market drive the demand for MOVs. Latin America and the Middle East & Africa offer emerging opportunities as infrastructure development and industrial activities increase, gradually boosting the adoption of MOVs in these regions.