HS Code:
Metal Oxide Varistors (MOVs) are voltage-dependent resistors primarily used for protecting electrical circuits from overvoltage transients. Classified under HS Code 8533.40, they are critical components in surge protection devices across industries such as telecommunications, automotive, and consumer electronics. MOVs function by clamping voltage spikes, making them essential for safeguarding sensitive equipment. Their demand is driven by the growing need for reliable power systems and the increasing adoption of electronic devices globally.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in renewable energy systems
Increased use of MOVs in solar and wind power inverters for surge protection, driving market growth by 8% annually
2021-2023
Growth in electric vehicle (EV) adoption
Higher incorporation of MOVs in EV charging infrastructure and battery management systems, boosting demand by 10% in key markets
2022
Miniaturization of electronic components
Development of smaller, high-performance MOVs to meet compact device requirements, influencing R&D investments
2020-2022
The United States imposed an additional 7.5% tariff on Chinese metal oxide varistors under Section 301, citing unfair trade practices.
September 2022
Increased costs for US importers, potentially shifting sourcing to other countries like Japan or South Korea.
The European Union updated RoHS directives, mandating stricter lead content limits in MOVs, affecting manufacturers globally.
January 2023
Non-compliant suppliers face market exclusion, while compliant firms gain competitive advantage in the EU market.
A leading Japanese firm announced a new high-energy absorption MOV, improving performance for industrial applications.
March 2023
Expected to drive demand in high-voltage sectors, potentially increasing Japan's export share by 3-5% over the next two years.