Chip Varistor Market Size, Emerging Trends, Technological Advancements, and Business Strategies 2023

Chip Varistor Market Size 2023-2032

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Report Overview:  Chip varistor are ideal, surface mountable components for transient overvoltage protection. They have ceramic multilayer structure which zinc oxide (ZnO) is the principal ingredient.  Great protection of electrical and electronic equipments, such as absorption of abnormal voltage/ inductive lightning surge. These components are designed for circuit protection in automotive, industrial and consumer electronics.  A chip varistor is an essential electronic component utilized for safeguarding sensitive electronic circuits against sudden voltage surges or spikes. It operates as a voltage-dependent resistor (VDR) and displays a non-linear resistance characteristic, implying that its resistance varies with changes in voltage.

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Market Value:  The global Chip Varistor market was valued at US$ 591.6 million in 2022 and is projected to reach US$ 742.2 million by 2029, at a CAGR of 3.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

CAGR of 3.3 % (2023-2032)

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By Types:  General Grade  Automotive Grade

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By Applications: Electronic Device

TVs

AV Devices

Automotive ©All Rights Reserved, semiconductorinsight

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