TRANSIENT VOLTAGE SUPPRESSOR DIODE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Transient Voltage Suppressor Diode Market Size and Trends

The Transient Voltage Suppressor Diode Market is estimated to be valued at USD 941.1 Mn in 2024 and is expected to reach USD 1,552.2 Mn by 2031, growing at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.

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The demand for transient voltage suppressor diodes is expected to grow steadily during the forecast period. Transient voltage suppressor diodes play a crucial role in protecting high-voltage electronic devices from voltage spikes and surges. They are increasingly being used in various end-use industries such as consumer electronics, automotive, medical, and industrial to shield sensitive components from overvoltage transients that can trip circuit breakers or damage equipment. In particular, the growing adoption of electric vehicles is driving the need for robust overvoltage protection solutions using transient voltage suppressor diodes. Rising demand for technology advancements in vehicles and focus toward autonomous driving are further expected to boost market growth during the analysis period.

Increasing Usage of Electronic Gadgets

The usage of various electronic gadgets such as smartphones, tablets, and laptops have increased exponentially over the past decade. People are spending more and more time using these digital devices for communication, entertainment, work, studies, and other purposes. As these devices have become an integral part of everyday life, the demand for their effective and reliable functioning has also risen significantly. Due to their extensive usage, electronic gadgets are more prone to voltage fluctuations and surges which can damage their sensitive internal components. This is where transient voltage suppressor diodes play a critical role in protecting such devices from high voltage spikes and power surges. They help maintain the steady operation of electronic circuits by clamping or limiting the spike voltage. With people's heavy reliance on gadgets, manufacturers are under increasing pressure to make them durable and protected against electrical hazards. As a result, the incorporation of transient voltage suppressor diodes in gadgets has become common to provide an additional layer of safety. Their growing use in smartphones, laptops and other consumer electronic products is boosting the overall demand in the market.

For instance, Diodes Incorporated, a manufacturer of semiconductor products, offers bidirectional transient voltage suppressor (TVS) diode for various consumer electronics applications including I/O ports in high-performance computing hardware, smartphone handsets, laptop and tablet computers, displays, and gaming consoles.

Along with the rising digitalization worldwide, new technology domains such as electric vehicles, renewable energy systems, and Internet of Things are rapidly evolving. These domains involve the extensive usage of electronic components that require robust protection against voltage transients and faults occurring in their operation. For example, in electric vehicles, the battery management systems, charging circuits, and other control electronics are vulnerable to high voltage fluctuations during acceleration, regenerative braking, or energy recovery processes. Similarly, renewable energy generation through solar PV panels and wind turbines can induce damaging voltage spikes and surges. IoT gateways, sensor nodes, and other network devices may also experience electrical disturbances. Protecting sensitive components in such emerging applications has become vital. Transient voltage suppressor diodes have emerged as a reliable solution owing to their ability to withstand high transient currents and voltages. Their deployment helps ensure the reliable performance of safety critical systems. As technologies like EVs, IoT, and renewable energy gain widespread adoption, the need for robust TVS diodes is expected to rise significantly to provide surge protection in new product designs. This growing scope of implementation across disruptive domains is boosting the market demand.