Report Highlights
The global market for electrical current sensors reached $2.7 billion in 2022. The market is estimated to grow from $3.0 billion in 2023 to reach $4.8 billion by 2028, at a compound annual growth rate (CAGR) of 10.1% from 2023 through 2028.
Report Includes
- 42 data tables and 19 additional tables
- An up-to-date overview and analysis of the global markets for electrical current sensors
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 2028
- Estimation of the actual market size and revenue growth forecast for electrical current sensors market in the USD million values, and corresponding market share analysis based on technology, loop type, end-user industry, and region
- In-depth information (facts and figures) concerning the major factors influencing the progress of this market (benefits, and industry-specific challenges) with respect to specific growth trends, upcoming technologies, future prospects, and contributions to the overall market
- Description of emerging technologies and innovations behind the development and applications of current sensors, with a special emphasis on new products being developed and the markets for these products
- Holistic review of the impact of COVID-19 and the Russia-Ukraine war on the global and regional markets for electrical current sensors
- A relevant patent analysis with significant allotments of recently published patents and patent applications on electrical current sensors
- Identification of the key players operating in the market, and analysis of their competitive landscape based on recent developments, segmental revenues, and operational integration
- Descriptive company profiles of the leading global players, including Asahi Kasei Corp., Allegro Microsystems LLC, Honeywell International Inc., Infineon Technologies AG, TDK Corp., and Texas Instruments Inc.
Report Scope
The scope of the report includes an overview of the global electrical current sensors market as well as the analysis of global market trends, with data from 2021 and 2022, the latter considered the base year, as well as estimates for 2023 through 2028, with projections of CAGR in the forecast period. Revenue forecasts for this period are segmented based on technology, loop type, end user, and geography.
Finally, the report presents an analysis of the competitive dynamics of the current sensors market, including critical success factors such as research and development capability, installed base, branding, and ecosystem influence and partnerships. The report provides profiles of the manufacturers of current sensors. This report also analyzes the impact caused by the COVID-19 pandemic.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2022 | ||||||||||||||||||
| Forecast period considered | 2023-2028 | ||||||||||||||||||
| Base year market size | $2.7 billion | ||||||||||||||||||
| Market size forecast | $4.8 billion | ||||||||||||||||||
| Growth rate | CAGR of 10.1% from 2023 to 2028 | ||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||
| Segments covered | By Technology, Loop Type, End-User Industry, and Region | ||||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, and Rest of the World | ||||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- Growing use of battery-powered systems,
- Increasing focus on renewable energy,
- Large scale commercialization of IoT and IIoT, etc.
- By Technology.
- By Loop Type.
- By End User.
- By Region.
Analyst Credentials
Austin Samuel – Consultant-Technology Research
Austin Samuel is an experienced professional with nearly a decade of industry experience in research and analysis, specializing in Information Technology. He has conducted extensive research and provided comprehensive syndicate and custom reports on the developments and application of information technology across multiple industries for international and domestic clients. He exhibits exceptional analytical abilities and strategic thinking and has contributed significantly to the team. Academically, Austin holds a master’s degree in Marketing and IT and a bachelor’s degree in Electrical and Electronics.
Report Highlights
This report highlights the role of current sensors in various applications, explains the technology and innovations behind current sensor development and production, and analyzes major market trends by both region and application. It details new developments taking place in the current sensor industry with respect to the continuous improvements in environmental performance. The report analyzes the market for various types of sensors, as well as for the technologies they employ. It reviews the markets for various emerging technologies in current sensors and new products utilizing these technologies.
Report Includes
- A brief overview of the global markets for current sensor technologies within the instrumentation industry
- Analyses of the global market trends, with data corresponding to market size for 2019, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2025
- Discussion of emerging technologies and innovations behind the development and applications of current sensors, with a special emphasis on new products being developed and the markets for these products
- Coverage of diverse industry applications and market assessment of various current sensor types, including hall effect current sensors, fiber optic current sensors, Rogowski coil current sensors, fluxgate transformer current sensors, and other miscellaneous current sensors
- Insight into the growth driving factors, market opportunities and trends, demographic shifts and regulatory aspects that affect the global market landscape
- Company profile description of leading manufacturers and suppliers of current sensors
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