Albany, NY -- (SBWIRE) -- 01/11/2017 -- A Metal Oxide Varistor (MOV) is an individual electronic component which diverts excessive voltage to the ground or to neutral lines. A Metal Oxide Varistor is also known as a surge-suppressor. This MOVs are mainly used to provide protection to electronic gadgets in case of high-peak pulse currents and high-energy surge transients, such as lightning, Inductive-load switching, and Electrostatic discharge.

Presently, the global market for MOVs is exhibiting a growing trend and is expected to strengthen during the forecast period. An important advantage of MOVs over its alternatives such as laser diodes, is its conduction of high associated energies at low cost. This is the key factor driving the growth of the global Market for MOVs. Other major factors fueling the growth of MOVs market are large scale industrialization, mass production of electronic devices, increasing defense electronics and aerospace markets, and the noteworthy growth in the wireless communication devices. Moreover, the prominent worldwide growth of the power transmission and distribution electronics applications is expected to propel the market for MOVs during the forecasted period. Further, rising concerns regarding the global depletion of the sources of non-renewable energy and the subsequent initiatives taken to shift towards renewable energy such as solar, wind, and tidal energy is expected to positively impact the market for MOVs. Also, the increasing applications of medical electronics in both medical tests and scan market is expected to boost the global MOV market.

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Though there are numerous elements propelling the growth of the global market for MOVs, there are certain factors restraining the market. Such as the price volatility of palladium over time, which is one of the chief raw materials used to produce MOVs. Price volatility of raw materials of MOVs, can cause difficulties in implementation of strategies by the MOV manufacturers. Thereby holding back the market to some extent. Another factor that is held responsible for constraining the Global MOV market is its suitability to only high "clamping voltage". This basically means that MOVs is appropriate for conducting high associated energies at low cost. Thus MOV manufacturers are unable to tap the market for low voltages.

The global market for MOVs is segmented on the basis of type, application, end-users, and geography. By type the global MOV market is sub-segmented as surface mount and disc. On the basis of application the market for MOVs is categorized as Electronic Discharge (ESD) and overvoltage protection. By end-users the global MOV market is sub-divided as line voltage equipment and lighting ballasts, industrial power electronics, automotive electronic subassemblies, wireless handsets, and other consumer electronics markets. Lastly, based on geography the global MOV market is segmented as North America, Europe, Asia-Pacific (APAC), Middle East & Africa, and Latin America.

Among the regions, the MOV market in Asia-Pacific is expected to be the most promising during the forecasted period. This is primarily because of the mass movement of the MOV manufacturers to China. The major reason for this shift of the MOV manufacturers to China is the abundance of cheap labor in this part of the world.

The key players in the global MOV market includes AEM, Inc. (U.S), Amotech Company Limited (South Korea), AVX Corporation (U.S), Centra Science Corp. (Taiwan), Ceratech Corporation (South Korea), CKE, Inc.-Dean Technology (U.S), Hiel Corporation (South Korea), Hitech HK Co Ltd (Hong Kong), Shantou Hongzhi enterprise Co., Ltd (China), Hyper-Sense Technology Co., Ltd (Taiwan), Innochips Technology Co,. Ltd (South Korea), Inpaq Technology Co., Ltd (Taiwan), Ishizuka Electronics Corporation (Japan), Joyin Co., Ltd (Taiwan), Keko-Varicon (Slovenia), Koa Corporation (Japan), Littlefuse, Inc. (U.S), Maida Development Co (U.S), Mde Semiconductor, Inc (U.S), Murata Manufacturing Co., Ltd (Japan), Ohizumi Manufacturing Co., Ltd (Japan), and Panasonic Co,. Ltd (Japan).