The automotive multilayer varistor market is set for substantial growth in the coming years, driven by the increasing demand for advanced vehicle electronics, electric vehicles (EVs), and robust electronic protection systems. With a value of US$ 91.1 million in 2024, the market is expected to expand at a compound annual growth rate (CAGR) of 7.7% from 2025 to 2035, reaching US$ 212.1 million by the end of 2035.
Multilayer varistors (MLVs) play a crucial role in automotive electronics as protective components that absorb and suppress voltage spikes and electrostatic discharges (ESDs). As vehicles become more connected, autonomous, and electrified, the need for reliable protection of sensitive electronic components becomes increasingly critical, making MLVs indispensable.
Key market players in the automotive multilayer varistor market include AEM Components (USA), Inc., Bourns, Inc., Eaton Corporation Plc, TDK Corporation, and Vishay Intertechnology, Inc., among others. These companies are investing in research and development to introduce varistors that can withstand higher voltage surges, operate in extreme temperatures, and adhere to emerging EV standards.
Recent developments in the market include the launch of the TransGuard Automotive Series Multilayer Varistors by KYOCERA AVX Components Corporation, the introduction of the SM10 Varistor Series by Littelfuse, Inc., and the release of the ERZ-HF2M220F by Panasonic. These advancements cater to the evolving needs of the automotive industry, particularly in the areas of electric vehicles, advanced driver-assistance systems (ADAS), and connected vehicles.
The growth of the automotive multilayer varistor market is driven by several key factors, including the rapid electrification of vehicles, the surge in ADAS adoption, the growth of connected and autonomous vehicles, the rising electronic content in vehicles, and the demand for miniaturization. These factors underscore the importance of MLVs in ensuring the reliability and performance of modern automotive systems.
Regionally, Asia-Pacific (APAC) leads the automotive multilayer varistor market, followed by Europe and North America. APAC benefits from the presence of major automotive production hubs and electronics manufacturers, while Europe and North America are experiencing growth due to the adoption of EVs and ADAS technologies.
Challenges in the market include supply chain volatility, design complexity, and material limitations. However, the future outlook for the automotive multilayer varistor market is promising, driven by the increasing electronic and software-defined nature of vehicles. As vehicles rely more on electronics for various functions, the demand for compact, efficient, and resilient protection devices like MLVs will continue to grow.
In conclusion, stakeholders across the automotive supply chain should actively invest in MLV technology development to stay competitive in a rapidly evolving industry landscape. By staying ahead of the curve and embracing technological advancements, players in the automotive multilayer varistor market can capitalize on the growing opportunities in the global automotive sector.