Home > Energy & Power > Electrical Equipment > Current Transducer > Current Transducer Market

Current Transducer Market Size

Report ID: GMI3612
Published Date: Jun 2023
Report Format: PDF

Download Free Sample

Current Transducer Market Size

Current Transducer Market was valued at USD 617.5 million in 2023 and is projected to grow at a CAGR of 4.4% between 2024 and 2032.The transition towards smart grids and the integration of renewable energy sources have driven the demand for transducers in the power sector. Transducers play a crucial role in monitoring and measuring electrical parameters such as voltage, current, and power quality, enabling efficient grid management and renewable energy integration. The adoption of industrial automation and the need for accurate and reliable measurement and control systems have fueled the demand for transducers. Transducers are used in various industrial applications, including process control, machinery monitoring, robotics, and factory automation.

To get key market trends

Download Free Sample

A current transducer is an electronic device used to measure and monitor electrical current flowing through a conductor. It converts the electrical current into a proportional output signal that can be easily measured and processed by other devices or systems. The global shift towards renewable energy sources, such as solar and wind, requires effective monitoring and control of power generation. Transducers are essential components in renewable energy systems, facilitating accurate measurement of energy production, grid synchronization, and power conditioning. Energy efficiency initiatives across various industries and sectors have contributed to the demand for transducers. Transducers enable accurate measurement of energy consumption, helping identify energy-saving opportunities and optimize energy management strategies.

Current Transducer Market Report Attributes
Report Attribute	Details
Base Year:	2022
Current Transducer Market Size in 2022:	USD 617.5 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4.4%
2032 Value Projection:	USD 904.5 Million
Historical Data for:	2019 to 2022
No. of Pages:	200
Tables, Charts & Figures:	447
Segments covered:	Technology, Application, End Use
Growth Drivers:	Increasing demand for energy efficiency Technological advancements in current transducer Rise in electric vehicle adoption
Pitfalls & Challenges:	Growing use of integrated products

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of current transducer was reached USD 617.5 million in 2023 and is poised to exhibit a 4.4% CAGR from 2024 to 2032, owing to the accelerating shift towards clean energy sources and the expanding smart grid infrastructure.

The closed-loop current transducer market is estimated to garner appreciable gains through 2032, attributed to the rapid digitization and automation of the industrial and manufacturing industries.

The battery management application segment will record a decent valuation by 2032, credited to a noticeable rise in the number of electric vehicles.

Europe market is slated to exhibit an appreciable CAGR from 2023 to 2032, backed by the rapid adoption of energy-efficient technologies to meet regulatory requirements.