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In page Transient-voltage-suppression diode:

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A transient-voltage-suppression diode can respond to over-voltages faster than other common over-voltage protection components such as varistors or gas discharge tubes (GDT). The actual clamping occurs in roughly one picosecond, but in a practical circuit the inductance of the wires leading to the device imposes a higher limit. This makes transient-voltage-suppression diodes useful for protection against very fast and often damaging voltage transients. These fast over-voltage transients are present on all distribution networks and can be caused by either internal or external events, such as lightning or motor arcing.