Automotive Surge Absorber Market Overview:
As per MRFR analysis, the automotive surge absorber market Size was estimated at 4.12 (USD Billion) in 2022. The automotive surge absorber market is expected to grow from 4.27 (USD Billion) in 2023 to 5.9 (USD Billion) by 2032. The automotive surge absorber market CAGR (growth rate) is expected to be around 3.65% during the forecast period (2024 - 2032).
Key Automotive Surge Absorber Market Trends Highlighted
The automotive surge absorber market is projected to exhibit steady growth in the coming years, driven by increasing vehicle electrification and the rising adoption of advanced driver assistance systems (ADAS).
The growing demand for electric vehicles requires surge absorbers to protect sensitive electronic components from voltage spikes during charging and discharge. Additionally, the proliferation of ADAS features, such as lane departure warning and adaptive cruise control, necessitates robust surge protection to ensure reliable operation.
Technological advancements are also shaping the market landscape. The emergence of solid-state surge absorbers, with enhanced durability and low capacitance, offers promising opportunities for manufacturers.
Furthermore, the integration of surge absorbers with other electronic components, such as capacitors and resistors, presents opportunities for cost reduction and improved system performance.
Environmental regulations and consumer awareness of sustainability are influencing market trends. The adoption of eco-friendly materials and manufacturing processes is becoming increasingly important for automotive surge absorber manufacturers.
Additionally, the growing emphasis on vehicle safety and reliability is driving demand for robust and reliable surge protection solutions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Surge Absorber Market Drivers
Growing Demand for Advanced Driver Assistance Systems (ADAS)
The increasing adoption of ADAS features in vehicles is a major driver of the automotive surge absorber market.
ADAS systems rely on sensors and cameras to detect and respond to potential hazards on the road, and surge absorbers play a crucial role in protecting these sensitive electronic components from voltage spikes and transients. As the number of vehicles equipped with ADAS continues to grow, the demand for automotive surge absorbers is expected to rise accordingly.
In addition to ADAS, the growing popularity of electric vehicles (EVs) is also driving the demand for surge absorbers. EVs use high-voltage electrical systems, which are more susceptible to voltage spikes and transients than traditional internal combustion engine vehicles.
Surge absorbers help to protect these electrical systems from damage, ensuring the safety and reliability of EVs. Furthermore, the increasing demand for lightweight vehicles is also contributing to the growth of the automotive surge absorber market.
Lightweight materials, such as aluminum and carbon fiber, are increasingly being used in vehicle construction to improve fuel efficiency and reduce emissions.
However, these materials are also more susceptible to voltage spikes and transients, which can damage electronic components. Surge absorbers help to protect these sensitive components, enabling the use of lightweight materials in vehicles.
Increasing Adoption of Vehicle Electrification
The automotive industry is undergoing a major transformation with the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs). These vehicles use high-voltage electrical systems, which are more susceptible to voltage spikes and transients than traditional internal combustion engine vehicles.
Surge absorbers play a crucial role in protecting these electrical systems from damage, ensuring the safety and reliability of electrified vehicles.
The growing popularity of EVs and HEVs is driven by several factors, including government regulations aimed at reducing carbon emissions, consumer demand for more fuel-efficient vehicles, and advancements in battery technology. As the adoption of electrified vehicles continues to grow, the demand for automotive surge absorbers is expected to increase accordingly.
Rising Demand for Safety and Comfort Features
As modern-day consumers are demanding vehicles with various advanced safety and comfort features, the global automotive surge absorber market is proliferating. Some of these comfort and safety features include airbags, explosively- /pretension seatbelts, antilock braking system, electronic stability control, adaptive cruise control, and others.
Surge absorbers are employed in protecting the electronic components of these safety and comfort features from voltage spikes and transients. It also aids in ensuring their proper function and the safety of the occupants of the vehicle.
Automotive Surge Absorber Market Segment Insights:
Automotive Surge Absorber Market Type Insights
The Type segment of the global automotive surge absorber market is divided into Voltage-Dependent Varistor, Metal Oxide Varistor, Transient Voltage Suppression Diode, Gas Discharge Tube, and Polymer Suppressive Varistor.
The Voltage-Dependent Varistor segment dominated the global automotive surge absorber market in 2023, with a market share of approximately 38.5% of the global automotive surge absorber market revenue. The growth of VDRs is due to their high energy absorption capability, low leakage current, and improper to a high surge current.
The metal oxide varistor is expected to be the fastest-growing segment for the global automotive surge absorber market during the forecast period because MOVs are cheaper, smaller, and operate at a wide range of voltage.
MOVs are commonly used in the automotive industry to protect sensitive semiconductors from the transients and voltage surges generated by the fuel injectors. The other types of automotive surge absorber market are transient voltage suppression diodes and gas discharge tubes, among which GDTs are used in vehicles to protect against high-energy surges and lightning.
Gas discharge tubes can handle multiple strikes without affecting performance. Polymer suppressive varistors are new to the surge market and are anticipated to take the market by storm. PSVs are superior to other products in terms of performance and size. They are used to reduce capacitance, improve energy handling capability, and provide exceptional long-term stability.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Surge Absorber Market Application Insights
The Application segment of the global automotive surge absorber market is classified into Automotive Electronics, Powertrain Systems, Body Electronics, Safety Systems, and Lighting Systems. Of these, the application is envisaged to hold a market share of about 30% by 2027 due to the escalating adoption of electronic components such as sensors, actuators, and control units.
Moreover, Powertrain Systems is the other leading application which is expected to have impressive growth in the given period because of a surge in demand for electric and hybrid vehicles.
Additionally, Body Electronics is expected to be the third leading application due to the increasing growth of advanced driver assistance systems and other comfort and convenience systems.
Moreover, Safety Systems and Lighting Systems are the two other applications anticipated to boost the global automotive surge absorber market.
Automotive Surge Absorber Market Operating Voltage Insights
The global automotive surge absorber market is segmented by Operating Voltage into Below 100V, 100V-500V, 500V-1000V, and 1000V and above. The 100V-500V segment is expected to account for the largest share of the market in 2023 and is projected to continue to grow at a CAGR of 3.9% through 2032.
This growth is attributed to the increasing demand for surge absorbers in electric and hybrid vehicles, which typically operate at voltages between 100V and 500V.
The Below 100V segment is also expected to witness significant growth, driven by the rising popularity of low-voltage automotive applications such as infotainment systems and lighting.
Automotive Surge Absorber Market Surge Current Insights
Surge Current The surge current segment is expected to witness significant growth over the forecast period. The increasing demand for electric vehicles (EVs) is a major factor driving the growth of this segment.
EVs use high-voltage batteries, which are more susceptible to voltage surges than internal combustion engine (ICE) vehicles. Surge absorbers are essential for protecting these batteries from damage caused by voltage surges. The below 100kA sub-segment is expected to hold the largest market share over the forecast period. This is due to the increasing adoption of EVs in the low-voltage segment.
The 100kA-500kA sub-segment is expected to witness the highest growth rate over the forecast period. The global automotive surge absorber market segmentation by surge current includes below 100kA, 100kA-500kA, 500kA-1000kA, and 1000kA and above.
The global automotive surge absorber market data indicates that the below 100kA sub-segment is expected to hold the largest market share over the forecast period. The global automotive surge absorber market Statistics show that the 100kA-500kA sub-segment is expected to witness the highest growth rate over the forecast period.
The global automotive surge absorber market is expected to be driven by the increasing demand for EVs. The market growth is also expected to be supported by the growing adoption of advanced driver assistance systems (ADAS) and autonomous vehicles.
Automotive Surge Absorber Market Surge Suppression Level Insights
The global automotive surge absorber market is segmented by surge suppression level into Below 100J, 100J-500J, 500J-1000J, 1000J and above. This growth is attributed to the increasing demand for surge absorbers in automotive applications, as they provide protection against electrical surges and other transient voltage events.
The Below 100J segment is expected to witness the fastest growth over the forecast period, owing to the growing adoption of electronic components in automobiles. The 500J-1000J and 1000J and Above segments are also expected to exhibit steady growth, driven by the increasing use of high-power electronics in automotive applications.
Automotive Surge Absorber Market Regional Insights
Regionally, North America held the largest market share in 2023, accounting for around 35% of the global revenue. Europe followed closely behind, capturing approximately 30% of the market.
The APAC region is expected to witness significant growth over the forecast period, owing to the increasing production of automobiles in countries such as China and India. South America and MEA are anticipated to contribute modest shares to the overall market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Surge Absorber Market Key Players and Competitive Insights:
Major players in the automotive surge absorber market are continuously focused on developing new products and technologies to meet the evolving needs of automotive manufacturers and consumers.
Leading automotive surge absorber market players such as Littelfuse, Inc., BOURNS, Inc., TE Connectivity Ltd., Panasonic Corporation, and Wrth Elektronik eiSos GmbH & Co. KG are investing heavily in research and development to enhance the performance and reliability of their products.
Strategic collaborations between leading players and automotive manufacturers are also shaping the automotive surge absorber market development. These collaborations enable manufacturers to integrate surge absorbers into their vehicles' electrical systems more efficiently, ensuring optimal protection against electrical surges.
Among the leading players in the automotive surge absorber market, Littelfuse, Inc. is a prominent manufacturer of electrical protection components, including surge absorbers. The company has a strong presence in the automotive industry and offers a wide range of surge absorbers designed to meet the specific requirements of various vehicle applications.
Littelfuse's commitment to innovation and customer satisfaction has made it a preferred supplier for many automotive manufacturers worldwide. The company's ongoing investment in research and development enables it to stay at the forefront of the automotive surge absorber market and provide cutting-edge solutions to its customers.
A notable competitor in the automotive surge absorber market is BOURNS, Inc., a leading provider of electronic components and solutions.
The company offers a comprehensive range of surge absorbers for automotive applications, including Transient Voltage Suppressors (TVS) and Metal Oxide Varistors (MOVs).
BOURNS's products are known for their high reliability and performance, and the company has established itself as a trusted supplier to the automotive industry.
The company's focus on quality control and customer support has enabled it to gain a strong reputation in the market and compete effectively with other leading players.
Key Companies in the automotive surge absorber market Include:
- Epcos AG
- Bel Fuse Inc
- KEMET Electronics Corporation
- Johnson Electric Holdings Limited
- Littelfuse, Inc
- Panasonic Corporation
- Nichicon
- Sumida Corporation
- AVX Corporation
- Vishay Intertechnology, Inc
- Cooper Bussmann.
- TDK Corporation
- Mersen
- Astrodyne Corporation
Automotive Surge Absorber Market Developments
The rising demand for electric vehicles, growing safety concerns, and increasing vehicle production contribute to market growth.
Recent developments include collaborations between key players, such as Eaton and TDK, to enhance product offerings.
Moreover, advancements in materials and designs, such as the development of lightweight and compact surge absorbers, are expected to drive market expansion.
Automotive Surge Absorber Market Segmentation Insights
- Automotive Surge Absorber Market Type Outlook
- Voltage-Dependent Varistor
- Metal Oxide Varistor
- Transient Voltage Suppression Diode
- Gas Discharge Tube
- Polymer Suppressive Varistor
- Automotive Surge Absorber Market Application Outlook
- Automotive Electronics
- Powertrain Systems
- Body Electronics
- Safety Systems
- Lighting Systems
- Automotive Surge Absorber Market Operating Voltage Outlook
- Below 100V
- 100V-500V
- 500V-1000V
- 1000V and Above
- Automotive Surge Absorber Market Surge Current Outlook
- Below 100kA
- 100kA-500kA
- 500kA-1000kA
- 1000kA and Above
- Automotive Surge Absorber Market Surge Suppression Level Outlook
- Below 100J
- 100J-500J
- 500J-1000J
- 1000J and Above
- Automotive Surge Absorber Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
4.12(USD Billion) |
| Market Size 2023 |
4.27(USD Billion) |
| Market Size 2032 |
5.9(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.65% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Epcos AG, Bel Fuse Inc., KEMET Electronics Corporation, Johnson Electric Holdings Limited, Littelfuse, Inc., Panasonic Corporation, Nichicon, Sumida Corporation, AVX Corporation, Vishay Intertechnology, Inc., Cooper Bussmann., TDK Corporation, Mersen, Astrodyne Corporation |
| Segments Covered |
Type, Application, Operating Voltage, Surge Current, Surge Suppression Level, Regional |
| Key Market Opportunities |
Electric vehicle proliferation Advanced driver assistance systems ADAS adoption Growing demand for lightweight vehicles Increasing focus on safety regulations and The expanding automotive industry in emerging economies |
| Key Market Dynamics |
Increasing electric vehicle production Government regulations for passenger safety Growing demand for luxury vehicles Technological advancements The expanding automotive industry |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global automotive surge absorber market was valued at USD 4.27 billion in 2023.
The automotive surge absorber market is projected to grow at a CAGR of 3.65% from 2024 to 2032.
Asia Pacific accounted for the largest market share in 2023, owing to the increasing production of automobiles in the region.
Automotive surge absorbers are primarily used in electrical and electronic systems of vehicles to protect against voltage transients and surges.
Key players in the automotive surge absorber market include Littelfuse, Bourns, TE Connectivity, and Schaffner.
Rising demand for electric vehicles and increasing adoption of advanced driver assistance systems (ADAS) are major factors driving the growth of the automotive surge absorber market.
Fluctuating raw material prices and intense competition from low-cost manufacturers are some of the challenges faced by the automotive surge absorber market.
Miniaturization, integration of multiple functions, and the development of new materials are some of the latest trends in the automotive surge absorber market.
