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DC Voltage Transducer Market Trends

Report ID: GMI7847
Published Date: Jan 2024
Report Format: PDF

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DC Voltage Transducer Market Trends

DC Voltage Transducer Market Size, By Region, 2022 - 2032 (USD Million)

The escalating adoption of renewable energy, particularly in solar and wind power, is propelling the demand for voltage transducers. These devices are indispensable for maintaining stability and optimizing power conversion and distribution within renewable energy systems. They play a pivotal role in enhancing the safety and efficiency of electrical systems. Furthermore, current trends underscore a growing emphasis on safety features such as incorporating galvanic isolation and robust protection against electrical disturbances, aiming to prevent equipment damage and ensure personnel safety.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of DC voltage transducer was worth over USD 209 million in 2023 and is projected to grow at a CAGR of over 7.5% through 2032, owing to the increasing demand for accurate and reliable measurement and monitoring of DC voltage across various industries.

The industrial machinery segment to exhibit around 6% CAGR till 2032, as the Industrial Internet of Things (IIoT) has transformed the way industrial machinery and voltage transducers collaborate, enabling seamless connectivity and data exchange.

Asia Pacific region dominated 40% share of the DC voltage transducer market in 2023, attributed to robust infrastructure growth and industrialization in nations like India and China.

ABB, Carlo Gavazzi, Siemens, Socomec, Schneider Electric, LEM International SA, Phoenix Contact, NK Technologies, Analog Devices, Inc. and CR Magnetics, Inc.