Transient Voltage Suppressor Market on a Growth Trajectory, Hit to US$ 1,529.02 Million By 2030

New York, July 03, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Transient Voltage Suppressor Market” published by Consegic Business Intelligence, the market was worth USD 847.87 million in 2022 and is anticipated to reach over USD 1,529.02 million by the year 2030, growing at a CAGR of 7.9%.

A transient voltage suppressor (TVS) is a diode specifically designed to provide protection against surge in voltages and dissipate high transient power. The TVS diode diverts the excess current away from the circuit, thus preventing damage to the circuit. Consequently, TVS diodes are extensively adopted in telecommunications, automotive, and industrial applications.

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The increasing demand for high-speed communication systems among consumers is driving the growth of transient voltage suppressor market. TVS devices offer faster response times and higher surge handling capabilities to protect sensitive communication equipment and ensure reliable data transmission. Thus, the rollout of 5G and advanced communication technologies is driving the growth of the market. For instance, in December 2021, Semtech introduced transient protection product line called Surge Switch specifically designed to protect circuits and systems operating in harsh industrial and telecom environments.

The adoption of transient voltage suppressors in renewable energy systems to safeguard power electronics and control systems is expected to present potential opportunities for market growth during the forecast period. Transient voltage suppressors are designed to provide protection against voltage transients in renewable energy systems. However, the availability of alternate devices including Metal Oxide Varistors (MOVs) and Gas Discharge Tubes (GDTs) granting similar protection against voltage transients is hindering the growth of the market.

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Transient Voltage Suppressor Market Growth Drivers:

• The increasing demand for high-speed communication systems is driving the demand for transient voltage suppressors, resulting in market growth.
• The growing need for safe and reliable connections in electronic devices is propelling the growth of the market.
• The increasing adoption of transient voltage suppressors in automotive industry for the protection of electric circuits is accelerating the growth of the market.

Restraints

• The availability of alternate devices including Metal Oxide Varistors (MOVs) and Gas Discharge Tubes (GDTs) that provides protection against voltage transients is hindering the growth of the market.

Opportunities

• The adoption of transient voltage suppressors in renewable energy systems to safeguard power electronics and control systems is expected to present potential opportunities for market growth during the forecast period.

Global Transient Voltage Suppressor Market Segmentation Details:

Based on Type, the uni-polar segment contributed the largest shares to the market growth in 2022. Uni-polar TVS devices are capable of handling transient voltage spikes in a single direction only. As a result, transient voltage suppressors provide low clamping voltage, and fast response times for protection of critical infrastructure, resulting in the market growth.

Based on Voltage, the Below 5V segment accounted for the maximum revenue share in the year 2022. The increasing adoption of TVS devices with below 5V range in low-voltage applications is driving the growth of the market. Moreover, the application of TVS devices in low-voltage electronic circuits, such as Integrated Circuits (ICs), and microcontrollers is accelerating the growth of the market.

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Based on Packaging, the Surface Mount Technology (SMT) segment accounted for the maximum revenue share in the year 2022. The ability of surface mount TVS to provide high component density on the PCB boards is accelerating the growth of the market. Moreover, the application of surface mount TVS in industries, including consumer electronics, telecommunications, automotive, and industrial equipment is propelling the growth of the market.

Based on the Application, the AC supply protection segment contributed the largest shares to the market growth in 2022. The adoption of AC current in home appliances including HVAC equipment is driving the need for transient voltage suppressor devices for protection of critical infrastructure. Therefore, the increasing adoption of TVS devices for AC line protection in residential sector is driving the growth of the market.

Based on End-User, the industrial power supplies segment accounted for the maximum revenue share in the year 2022. The ability of TVS devices to provide protection to the critical industrial infrastructure such as industrial power supplies, motor drives, and other industrial equipment from voltage surges is driving the growth of the market. Transient voltage suppressors ensure reliable operation of the machinery used in industrial power supplies, resulting in market growth.

Based on region, Asia-Pacific accounted for the largest revenue share in the year 2022. TVS devices are deployed in the automotive industry to protect electronic components and systems including infotainment systems and ADAS systems. Moreover, the increasing adoption of electric vehicles among consumers is driving the growth of the regional market.

Recent Developments

• In November 2022, Littelfuse, Inc. launched new TVS diode series called SMTOAK2 allowing manufacturers to achieve protection against overvoltage, transient voltage, and lightning protection while using less printed circuit board (PCB) space.
• In June 2021, Remcom upgraded its 3D Simulation Software with transient circuit co-simulation for electrostatic discharge testing and support for spark plugs and transient voltage suppressor (TVS) diodes.

Key Market Highlights

• Globally, transient voltage suppressor market is divided based on type into Uni-Polar TVS and Bi-Polar TVS.
• In the context of voltage, the market is segregated into below 5V, 5V-10V, 10V-15V, 15V-20V, and above 20V.
• In the context of packaging, the market is separated into Surface Mount Technology (SMT), Through-Hole Technology (THT), and others.
• Based on application, the market is divided into DC supply protection, DC load protection, AC supply protection, electro-magnetic interference limiting, operational amplifier protection, and others.
• Based on the end-user, the market is separated into automotive, telecommunication, industrial power supplies, military/aerospace, consumer electronics, and others.
• The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
• Asia-Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in Transient Voltage Suppressor market.

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List of Major Global Transient Voltage Suppressor Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• AVX Corporation

• Bourns Inc.

• BrightKing Inc.

• Diodes Inc.

• Infineon Technologies AG

• Littelfuse Inc.

• Microsemi Corporation

• Nexperia

• NXP Semiconductors N.V.

• On Semiconductor Corporation

• Panasonic Corporation

• ProTek Devices

• ROHM Semiconductor

• Remcom

Global Transient Voltage Suppressor Market Segmentation: 

• By Type

• Uni-Polar TVS
• Bi-Polar TVS

• By Voltage

• Below 5V
• 5V-10V
• 10V-15V
• 15V-20V
• Above 20V

• By Packaging
  • Surface Mount Technology (SMT)
  • Through-Hole Technology (THT)
  • Others
• By Application
  • DC Supply Protection
  • DC Load Protection
  • AC Supply Protection
  • Elector-Magnetic Interference Limiting
  • Operational Amplifier Protection
  • Others
• By End-User
  • Automotive
  • Telecommunication
  • Industrial Power Supplies
  • Military/Aerospace
  • Consumer Electronics
  • Others

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Key Questions Covered in the Transient Voltage Suppressor Market Report

• What is Transient Voltage Suppressor?

- Transient voltage suppressor are the devices designed to protect sensitive components from electrical overstress due to events such as lightning strikes, inductive load switching and electrostatic discharge.

• What are some of the most important applications of transient voltage suppressor and how do they impact the industry's growth potential?

- Transient voltage suppressor is widely used in automotive industry for the protection of infotainment systems and ADAs systems. Moreover, TVS devices are used in consumer electronics devices for protection of internal circuits.

• Based on current market trends and future predictions, which geographical region will have the largest impact on the transient voltage suppressor growth in the coming years?

- Asia Pacific accounted for the largest revenue share in the year 2022. The increasing adoption of electric vehicles among consumers is driving the growth of the market.

• Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?

- North America is anticipated to register the fastest CAGR growth during the forecast period. The rising adoption of consumer electronics devices such as smartphones, laptops, and tablets among consumers is driving the growth of the regional market.

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