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Current Sensor Market Size
- Report ID: GMI4120
- Published Date: Apr 2023
- Report Format: PDF
Current Sensor Market Size
Current Sensor Market size exceeded USD 2 billion in 2022 and will observe more than 10% CAGR from 2023-2032. The rising adoption of hybrid and electric vehicles worldwide will favor the industry growth.
As per data from analytics firm, Wards Intelligence, the hybrid vehicle sales increased 76% to 801,550 vehicles in 2021, recording 5% of the light vehicle sales in the U.S. Current sensors are widely deployed across numerous safety applications, such as proximity indicators and anti-blocking system/vehicle stability control in automobiles to offer high temperature range, accuracy, scalability, and robustness. The surging focus on road safety for helping automotive enterprises to integrate advanced electronic systems has made way for higher technological developments.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Current Sensor Market Size in 2022: | USD 2 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 10% |
| 2032 Value Projection: | USD 5 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 265 |
| Tables, Charts & Figures: | 1,281 |
| Segments covered: | Type, Technology, Application, End-Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The rising costs as well as technical issues may limit the adoption of current sensors to a considerable extent. Though these sensors are increasingly employed for detecting undercurrent and overcurrent conditions in electrical devices, they incur several problems while measuring the high voltage current. The tendency of current sensors for not resisting the sudden high voltage current surges will also restrict their preference.
Frequently Asked Questions (FAQ) :
Current Sensor Market Scope
