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

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.

Market Concentration and Competitive Landscape

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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.

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: Fluctuating Raw Material Prices and Supply Chain Disruptions

Some key challenges this market faces include fluctuating raw material prices and supply chain disruptions impacting diode manufacturing costs. Additionally, there is increasing demand for devices with faster response times and higher energy absorption capabilities, requiring extensive R&D investments into new materials and fabrication techniques. Meantime, regulations on EMI compliance are becoming more stringent, necessitating suppliers to rapidly deploy solutions meeting evolving standards.

Market Opportunities: Growth in Consumer Electronics

The growth in consumer electronics is driving need for robust protection against power surges and electrical noise interference. Expanding automotive electronics content per vehicle creates sustained requirement for TVS diodes. The adoption of renewable energy systems susceptible to grid disturbances opens an avenue. Furthermore, infrastructure modernization across various industries strengthens the business case for reliable overvoltage safeguards utilizing TVS technology.

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The bidirectional transient voltage suppressor diode segment currently dominates the overall transient voltage suppressor diode market and is estimated to hold the market share of 62.3% in 2024 due to high demand from various power electronics applications. Bidirectional TVS diodes are widely used in such applications as they offer protection from voltage spikes in both the positive and negative direction.

Power electronics has emerged as a major end-use segment for TVS diodes in recent years. A wide range of power electronic devices from variable frequency drives to UPS systems extensively use various power semiconductor components such as thyristors, IGBTs, and diodes. However, transients and surge voltages produced during switching of these power devices can damage the components if left unprotected. Bidirectional TVS diodes provide robust protection against such voltage fluctuations from both the supply side and load side. Their capability to clamp surge voltages effectively in both polarity directions makes them especially suitable for power electronic circuits.

The growing adoption of renewable energy solutions like solar PV inverters has also boosted the use of bidirectional TVS diodes. The intermittent nature of solar and wind power leads to frequent voltage spikes at the input and output of solar inverters and other related equipment. Bidirectional TVS diodes ensure reliable protection of sensitive components inside these devices. Additionally, stringent safety and reliability norms for industrial motor control and solar/wind energy conversion systems mandate robust protection against voltage transients using TVS technology.

Insights, by Application - Widespread Deployment in Industrial Motor Controls and Renewable Energy Applications

The energy and power segment is estimated to hold the largest share of 34.4% in 2024 in the overall transient voltage suppressor diode market. Within this segment, industrial motor controls and renewable energy generation/conversion represent major application areas driving the demand for TVS diodes.

TVS diodes are widely installed across motor drive circuits powering industrial motors used in applications like conveyor belts, machine tools, pumps, and compressors. Exposure to surges during frequent start/stop cycles of industrial motors necessitates reliable overvoltage protection for motor drive electronics. Compared to other alternatives, TVS diodes offer compact designs and fast response times to safeguard sensitive components in motor control equipment from voltage spikes.

Growing penetration of solar and wind energy as renewable sources has also augmented the need for robust overvoltage protection in associated power conditioning systems. TVS diodes are commonly integrated across grid-tie solar inverters, wind turbine drive trains, and energy storage/charging devices to suppress surges both at the system input and output terminals. Their role in ensuring safety and reliability takes on greater importance as solar and wind power capacity expansion continues globally to support environmental sustainability goals.

Regional Insights

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Asia Pacific has established itself as the dominant regional market and is estimated to hold the market share of 32.5% in 2024. Several factors such as rapidly growing electronics and automotive industries, influx of global semiconductor companies setting up their manufacturing bases, and increasing export activity from countries like China and Taiwan are driving the market growth. Countries such as China, Taiwan, South Korea, and Japan are major exporters of electronics as well as electronic components like transient voltage suppressor diodes globally. This is translating to sizable revenues from international trades. Additionally, the shifting of global supply chains towards Asia Pacific owing to availability of inexpensive labor and resources is increasing the production volumes in the region. The massive production capabilities coupled with cost competitiveness of local manufacturers have enabled Asia Pacific to receive higher priority from global buyers.

North America is home to some of the largest semiconductor manufacturers such as ON Semiconductor, Infineon Technologies, and Littelfuse. These manufacturers have a significant presence across various countries in North America with massive production capabilities closer to major end-use industries. Additionally, the region is an early adopter of new technologies with massive research & development investments from both private as well as government organizations. This provides sustainable technological advantage to local manufacturers. Furthermore, the presence of leading OEMs such as Tesla, Ford, and GM within the region ensures a steady demand for transient voltage suppressor diodes from the automotive industry.

The European market for transient voltage suppressor diodes is moderately growing owing to presence of various established automotive brands and diversified electronics industry landscape. On the other hand, Latin America and Middle East & Africa are emerging as lucrative regional markets and are expected to provide higher growth opportunities over the forecast period. This can be attributed to ongoing industrialization, infrastructure development projects and increasing demand for consumer electronics from the growing middle class population across various countries in these regions.

Market Report Scope

Key Developments

• In March 2021, MDE Semiconductor, Inc., a manufacturer of Transient voltage suppression devices, launched MAX Power TVS Diode, specifically designed for the protection of electronic systems from the destructive effects of Lightning, Electrostatic Discharge (ESD) and Inductive Switching
• In March 2023, Diodes Incorporated, a manufacturer of semiconductor products, introduced its new bidirectional transient voltage suppressor (TVS) diode, addressing market demands for a robust protection for high-speed data ports
• In January 2024, Diotec Semiconductor, a European semiconductor manufacturer, introduced transient voltage suppressor diode for alarm systems
• In January 2024, Diotec Semiconductors introduced SMF33CA transient voltage suppressor diodes for light curtain electronics. SMF33CA suppressor diodes are used in the 24 V DC supply of the light curtain, which is typically found in machines such as presses and punching machines, robotic systems, assembly machines, packaging, and conveyor systems.

*Definition: The transient voltage suppressor diode market consists of companies that manufacture transient voltage suppressor (TVS) diodes which are semiconductor devices used to protect electronic equipment from voltage transients such as spikes and electrostatic discharge (ESD) phenomenon. TVS diodes function as a protection device by working as a voltage clamp and allows high voltage transients to flow to the ground without letting them reach sensitive components.

Market Segmentation

•  Type Insights (Revenue, USD MN, 2019 - 2031)
  • Unidirectional
  • Bidirectional
•  Application Insights (Revenue, USD MN, 2019 - 2031)
  • Telecommunication
  • Energy & Power
  • Aerospace & Defence
  • Automotive
  • Consumer Electronics
  • Others
• Regional Insights (Revenue, USD MN, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • STMicroelectronics 
  • Infineon Technologies AG
  • Taiwan Semiconductor.
  • PROTEK DEVICES
  • Solid State Manufacturing
  • Littelfuse, Inc.
  • Semtech Corporation
  • Electronics Industry Public Company Limited (EIC)
  • Sensitron Semiconductor
  • Bourns, Inc.
  • Vishay Intertechnology, Inc.
  • Nexperia B.V.
  • AMAZING Microelectronic Corp.
  • Wayon Electronics Co.,Ltd.
  • BrightKing, Semiconductor Components Industries, LLC
  • Continental Device India Pvt. Ltd.
  • Diodes Incorporated
  • TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION
  • MDE Semiconductor
  • ANOVA Technologies Co.,Ltd