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The current transducer is almost just like the current transformer. In industries, it is widely used for monitoring motors and load. The current transducer has various applications in motor drive, for battery management, UPS, inverters, etc. Today carbon emission is one of the major concerns of every nation. All most every country is taking initiatives to get rid of this major issue. Adoption of renewable sources of energy like solar, wind, etc. to curb carbon emission and meet the energy crisis this shows a positive outlook for the current transducer market.
Also, advancement in every industry like the automotive industry, the electric vehicle is one of the most significant innovations of this century. Owing to the vast application of current transducer in electric vehicle escalate the current transducer market. Increasing use of AI in the automotive sector with fully integrated and programmable sensors give current transducer different path to grow.
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On the basis of technology, the global current transducer market can be segmented into an open loop and closed loop. Open Loop technology is expected to dominate the market in the above segment. They are owing to its high bandwidth, wide transmission capacity, and quick reaction time. Attributable to these properties, open loops have significant demand from different sectors like aviation and defense, therapeutic, automobile, railways, and consumer durable, etc.
On the basis of application, the global current transducer market is segmented into the motor drive, battery management, UPS & SMPS, converter & inverter, and others. The motor drive is expected to dominate the market in the above segmentation. The motor drive is widely used for various industrial purposes. The motor drive is utilized for giving the rotating voltage and frequency to the electric motor. The current transducer in the motor drive is used to quantify the current to be connected to the engine.
On the basis of end-user, the global current transducer market is segmented into industrial, renewables, automotive, residential & commercial, and others. The renewables and automotive both are expected to dominate the market in the above segmentation. In renewable, owing to an increase in investment to adopt renewable sources of energy to meet the energy crisis. Governments of different nations made strict regulations to reduce carbon emission as resulted there is diversification for power generation in solar and wind energy etc.
The factor that is expected to drive the growth of the global current transducer market is owing to curb the carbon emission most of the countries shifted towards renewable sources like solar and wind energy to meet energy demand. Also, the high adoption of electric vehicles across the world. Increasing use of industrial automation by industries to increase productivity. The increasing population, along with an increase in the purchasing power of people, created a massive demand for consumer durable goods. The factor that is expected to restrain the growth of the global current transducer market is expensive compared with resistive sensing.
Some of the major companies in the global current transducer market are ABB, LEM, Johnson Controls, NK Technologies, Veris, Texas Instruments, Phoenix Group, IME, Siemens, CR Magnetic, Honeywell, Infineon, Allegro, Hobut, and Melexis.
· Open Loop
· Closed Loop
· Inverter & Converter
· UPS & SMPS
· Battery management
· Motor Drive
· Residential & Commercial
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The global current transducer market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to dominate the market in the above regional segmentation. High population which creates massive demand for electronics devices, including household appliances. Owing to the increase in the adoption of renewable resources like solar energy, wind energy, etc. to meet the energy crisis. A country like China is dominated by manufacturing industries and using the advanced industrial automation system to enhance productivity. Also, the Fastest adoption and manufacturing of electric vehicles in the region tends to grow in the current transducer market. In Europe, owing to increasing investment for renewable sources of energy like solar and wind to curb the carbon emission. This resulted in an increase in the number of installation of solar and wind energy-producing plants. Also, Countries like Germany and Russia are using advanced technology like integrated sensors are using in electric vehicles. In North America, the USA is highly dominated by the current transducer market. Owing to big companies like Tesla, who is investing more in an electric vehicle. Also, high investment in renewable sources of energy to curb carbon emission. Increase in investment for research activities to develop advanced automation systems for industries.
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