Transient Voltage Suppressor Market Size, Industry Share, Growth Trends and Forecasts (2023 - 2030)

Based on the Type :

Based on the type, the market is bifurcated into Uni-Polar TVS and Bi-Polar TVS. The uni-polar segment accounted for the largest revenue share in the year 2022. The ability of uni-polar transient voltage devices to provide high surge current capabilities, low clamping voltage, and fast response times is driving the growth of the market. Uni-polar TVS devices are designed to handle transient voltage spikes in a single direction only. Uni-polar transient voltage devices are primarily used in low-voltage applications by diverting excessive energy away from the protected circuit. Therefore, the application of uni-polar TVS in applications such as consumer electronics, data lines, and telecommunications equipment is propelling the growth of the market.

Bi-polar TVS is anticipated to emerge as the fastest-growing segment during the forecast period. Bi-polar TVS devices are designed to provide protection against voltage transients in both polarities. As a result, bi-polar TVS are widely used in high voltage applications including automotive electronics and power distribution systems. For instance, in March 2023, Diodes Incorporated launched bi-directional TVS diode called D3V3Z1BD2CSP designed to offer protection from voltage surge and electrostatic discharge (ESD) strikes events. Thus, the ability of transient voltage suppressors to provide protection in positive and negative directions is accelerating the growth of the market.

Based on the Voltage :

Based on the voltage, the market is segregated into Below 5V, 5V-10V, 10V-15V, 15V-20V, and Above 20V. The below 5V segment accounted for the largest revenue share in the year 2022. The increasing demand for low-voltage TVS diodes in applications such as mobile devices and power supplies is driving the growth of this segment. The devices under this segment are widely used for the protection of low-voltage electronic circuits, such as integrated circuits (ICs), microcontrollers, digital logic circuits, and low-power electronic devices.

The above 20V segment is anticipated to witness fastest CAGR growth during the forecast period. The TVS devices under this segment are designed to protect sensitive electronics from damage due to electrical overstress (EOS), lightning, cable discharge events (CDE), and electrostatic discharge (ESD). As a result, transient voltage suppressors are employed to protect electronic systems operating at higher voltages, such as power distribution networks, industrial equipment, telecommunications infrastructure, and high-voltage power supplies. For instance, in March 2021, MDE Semiconductor launched TVS diodes with voltages 33V to 190V designed for the protection of electronic systems from the destructive effects of electrostatic discharge, lightning, and inductive switching. Moreover, the ability of 20V and above TVS to provide fast response time, low operating and clamping voltage is driving the growth of the market.

Based on the Packaging :

Based on the packaging, the market is divided into Surface Mount Technology (SMT), Through-Hole Technology (THT), and others. The surface mount technology accounted for the largest revenue share of 43.37% in the year 2022. Surface mount technology is the method of packaging and mounting electronic components directly onto the surface of Printed Circuit Boards (PCBs). As a result, surface mount TVS are widely used in various industries, including consumer electronics, telecommunications, automotive, and industrial equipment. For instance, in June 2022, Vishay launched three new 24 V surface-mount transient voltage suppressors (TVS) called XClampR that offer high pulse power dissipation in telecom, automotive and industrial applications. Moreover, the ability of surface mount TVS to provide high component density on the PCB is accelerating the growth of the market.

Through-Hole Technology (THT) is expected to register the fastest CAGR growth during the forecast period. Through-hole technology refers to the method of mounting electronic components into the PCB board through holes. Through-hole technology TVS devices have leads that facilitate their insertion through holes into the PCB. Thus, the application of THT-TVS devices in automotive, aerospace, and power electronics is propelling the growth of the market.

Based on the Application :

Based on the application, the market is segregated into AC supply protection, DC load protection, DC supply protection, electro-magnetic interference limiting, operational amplifier protection, and others. AC supply protection segment accounted for the largest revenue share in the year 2022. The increasing adoption of AC current in residential power supply stations is driving the growth of the market. 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. Moreover, AC supply protection is anticipated to emerge as the fastest-growing segment during the forecast period. TVS diodes for AC supply protection provide fast switching capabilities that allows semiconductor devices to respond to overvoltage.

Based on the End-User :

Based on the end-user, the market is divided into automotive, telecommunication, industrial power supplies, military/aerospace, consumer electronics, and others. The industrial power supplies segment accounted for the largest revenue share in the year 2022. Industrial power supplies and equipment are susceptible to voltage transients as it involves the usage of heavy machinery, electrical systems, and power distribution networks. As a result, transient voltage suppressors are used to protect industrial power supplies, motor drives, and other industrial equipment from voltage surges to ensure reliable operation of critical infrastructure, resulting in market growth.

The automotive industry is anticipated to register the fastest CAGR growth during the forecast period. Automotive vehicles are susceptible to electrostatic discharge (ESD), lightning, and switching loads in the electronic circuits. As a result, TVS devices are utilized in the automotive industry to protect various automotive electronics, including engine control units (ECUs), infotainment systems, and other electronic components from voltage transients. Therefore, the ability of transient voltage suppressors to address parameters such as power rating, stand-off voltage, breakdown voltage, and maximum breakdown voltage is accelerating the growth of the market.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

The Asia-Pacific region accounted for a revenue share of USD 293.79 million in 2022 and is expected to reach USD 535.00 million in 2030, registering a CAGR of 8.1% during the forecast period. Additionally, in the region, China accounted for the largest revenue share of 27.38% in the year 2022. The growing automotive industry in the Asia-Pacific region is driving the demand for transient voltage suppressors for the protection of critical components. TVS devices are deployed in the automotive industry to protect electronic components and systems in vehicles, including ECUs, infotainment systems, ADAS (Advanced Driver Assistance Systems), and electric powertrains. Moreover, the growing adoption of electric vehicles among consumers is accelerating the growth of the market.

Additionally, the Asia-Pacific region is anticipated to emerge as the fastest-growing segment during the forecast period. The increasing demand for consumer electronics devices among consumers is projected to drive the growth of transient voltage suppressor market. The demand for smartphones, tablets, wearable devices, home appliances, and other consumer electronics is presently fuelling the need for TVS devices to protect devices from voltage transients, ensuring reliable operation and longevity. For instance, in February 2022, Toshiba introduced a new low-capacitance TVS diode for high-frequency antennas of IoT-devices to protect devices against noise and static electricity while suppressing signal deterioration. Therefore, the growing automotive industry in Asia-Pacific region coupled with the increasing adoption of consumer electronics devices is driving the growth of the regional market.