Current Transducer - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Current Transducer Market is accounted for $626.86 million in 2019 and is expected to reach $962.03 million by 2027 growing at a CAGR of 5.5% during the forecast period. Some of the key factors propelling the market growth include increasing demand for fully programmable and integrated sensors from the automotive industry, increasing number of electric vehicles and hybrid vehicles (EV and HEV), technological developments in the current transducer industry, and increasing use of battery-powered applications. However, the increasing use of integrated products is likely to hamper the market.
The current transducer is a device which converts current into a proportional industrial standard electrical signal. It is used to apply high inductive current measurement in the regulation and control systems, by acting as current sensing transducer. The major components of the current transducer include conversion component, conversion circuit, power circuit, and sensitive component. The major functions of the current transducer are isolated function, safety function, a conversion function, and enhanced signal for distance transfer.
By application, the converter & inverter segment is anticipated to grow at the significant rate during the forecast period, due to the adoption of renewable technology, as these are highly compatible with renewable energy generation. The converters & inverters are used to convert DC power to AC power and vice versa. In power generation application, where power is generated through renewable sources converters & inverters plays important role. These are widely used for conversion of power.
On the basis of geography, Asia-Pacific is expected to have considerable market growth during the forecast period, owing to increasing demand for energy, the continuous efforts for increasing the share of renewable energy generation, rapid industrialisation, demand for the control & monitoring systems, and increasing adoption of industrial automation. Also, key countries in Asia-Pacific such as India, China, and Australia are focusing on renewable energy sources including wind, bioenergy, solar, and hydropower due to the environmental concerns, price volatility, and security of supply.
Some of the key players in Current Transducer Market include Veris Industries, Siemens, Phoenix Contact, Johnson Controls, Texas Instrument, ABB, LEM Holding SA, NK Technologies, American Aerospace Control (CR), Hobut, CR Magnetic, Topstek, Infineon Technologies Ag, Honeywell, Allegro, Melexis, Kohshin Electric Corporation, TDK Corporation, and Asahi Kasei Microdevices Corporation.
• Closed Loop
• Open Loop
• AC Current Transducers
• DC Current Transducers
• Switched-Mode Power Supply (SMPS) And Uninterruptible Power Supply (UPS)
• Converter & Inverter
• Motor Drive
• Battery Management
End Users Covered:
• Renewable Energy
• Transportation & Automotive
• Residential & Commercial
• Power Station
Sales Channels Covered:
• Manufacturer/Distributor/Service Provider
• Direct Sales
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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