Albany, NY -- (SBWIRE) -- 01/28/2019 -- The global metal oxide varistor (MOV) market has fragmented landscape due to presence of numerous players a report of Transparency Market Research prophesized. Presence of numerous international companies and local players has increased competition level substantially. These companies are focusing to offer advanced products to gain substantial share in the revenue. These new product launches and high investments are expected to create opportunities for players and new entrants in the market and continue to be beneficial for forecaste period of 2017 to 2025.

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The global MOV market is mainly segmented on the basis of type, construction, composition, end-use, and geography. On the basis of type, the market is segmented into strap metal oxide varistor, block metal oxide varistor, and ring metal oxide varistor. Of these, ring metal oxide varistor is currently dominating the market and expected to continue its dominance for upcoming years owing to its efficiency to protect electronic devices from high voltage.

By end-use industry, the market is segmented into automotive electronics, industrial power electronics, line voltage equipment, consumer electronics, wireless handset telecommunication, and lighting ballasts. Of these, consumer electronics is expected to dominate the market for forecast years.

On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Of these, Asia Pacific dominated the market in 2016 and thanks to continues adoption of automation in industries and industrial infrastructural developments, it is expected to continue its dominance for upcoming years. High development and investments in communication technologies in the region is expected to uptake the growth of the market.

Metal oxide varistor are extensively used in electronic and communication industry is a major factor boosting demand for the MOVs. Additionally, widening its applications in aerospace, defense, and healthcare is positively influencing growth of the market. High investments in research and development activities is offering many growth prospects to the players in the market. However, volatile prices of raw material and high clamping voltage are restraining growth of the global MOV market.

This analysis of the global MOVs market is based on a recent market research report by Transparency Market Research, titled "Metal Oxide Varistor (MOV) Market (Type - Disc, Strap, Block, and Ring; End User - Automotive Electronics, Line Voltage Equipment, Wireless Handset Telecommunication, Industrial Power Electronics, Consumer Electronics, and Lighting Ballasts; Construction - Surface Mount and Through Hole; Composition - Zinc Oxide) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025."

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