Rising Demand for Consumer Electronics to Propel the Growth of Global Metal Oxid
Posted by Arslan on January 18th, 2019
In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Metal Oxide Varistors Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.
Consumer electronics is witnessing a rapid growth, on the back of high usage of electronic devices. With the rise in the number of electronic devices and consumers being prone to electric hazards, they are being more conscious to ensure protection from electric catastrophe. Metal oxide varistors, owing to their intrinsic property of being reliable and flexible in nature, have witnessed a huge demand recently. In 2017, the market was valued at US$ 6,220.0 Mn and it is forecasted that it could grow at a CAGR of 11.9% through 2026.
The aforesaid insights have been extracted from a report titled, “Metal Oxide Varistors Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026” which has been incorporated in the all-inclusive repository of Market Research Reports Search Engine (MRRSE).
Traditionally, passive components like resistors were extensively used for the manufacturing of electronic devices, owing to their inherent property to suppress the high voltage and protect the circuit from getting damaged. However, when compared on the parameters of efficiency, cost, and safety, metal oxide varistors possess a competitive edge over these components. This has been recognized by the manufacturers of industrial equipment, automotive electronics, telecommunication equipment, and consumer electronics. As a result, there is a rise in demand for these components in the electronic circuits. Being an automotive manufacturing hub, the Asia-Pacific is expected to remain a lucrative market for metal oxide varistors in the near future.
About the AuthorArslan
Joined: December 18th, 2017
Articles Posted: 13,297
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