The Current Sensor Global Market Report 2023, provides comprehensive information on the current sensor market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global current sensor market size is expected to grow from $2.21 billion in 2022 to $2.43 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global current sensor market size is expected to grow to $3.45 billion in 2027 at a CAGR of 9.2%.
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Technological advancement is the key trend gaining popularity in the current sensor market. Major companies operating in the current sensor market are focusing on developing new technological solutions to sustain their position in the market. For instance, in April 2021, TDK Corporation, a Japan-based electronic components and devices company, launched the CUR 4000 Hall-effect sensor. The unique feature of the CUR 4000 is that it provides non-intrusive, galvanic-isolated contactless current sensing and is designed for highly precise current measurements in automotive and industrial applications. These characteristics will benefit future high-voltage systems for hybrid and electric vehicles (xEV). The product can measure dynamic current ranges up to =2000 A and is suitable for DC and AC measurements as well as overcurrent detection in high-power battery monitoring applications.
The current sensor market is segmented:
1) By Type: Closed Loop, Open Loop
2) By Technology: Hall Effect, Shunt, Fluxgate, Magneto-Resistive
3) By Application: Motor Drive, Converter and Inverter, Battery Management, UPS and SMPS, Starter and Generators, Grid Infrastructure, Other Applications
4) By End-Use: Automotive, Consumer Electronics, Industrial, Telecommunication, Other End-Uses
North America was the largest region in the current sensor market in 2022.
The table of contents in TBRC’s current sensor market report includes:
1. Executive Summary
2. Current Sensor Market Characteristics
3. Current Sensor Market Trends And Strategies
4. Current Sensor Market – Macro Economic Scenario
5. Current Sensor Market Size And Growth
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28. Key Mergers And Acquisitions In The Current Sensor Market
29. Current Sensor Market Future Outlook and Potential Analysis
30. Appendix
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