AC Voltage Transducer Market Size - By Application (Railways, Industrial Machinery, Power Plants, Electric Vehicles), & Forecast, 2024 – 2032

AC Voltage Transducer Market Size

AC Voltage Transducer Market was valued at USD 996.2 million in 2023 and is anticipated to expand 6.6% CAGR from 2024 to 2032. The heightened emphasis on energy efficiency and conservation has resulted in a rising need for precise and dependable voltage measurement and monitoring. Voltage transducers have become indispensable in gauging voltage levels and furnishing essential data for energy management systems, thus enabling the efficient use of electrical power. The proliferation of smart grid technologies is gaining momentum, primarily propelled by the requirement for advanced monitoring and control of electrical distribution networks.
 

The AC voltage transducer industry is in a state of constant technological evolution, marked by the creation of miniaturized transducers boasting superior accuracy, advanced signal processing capabilities, and wireless communication functions. These innovations facilitate more precise voltage measurements and seamless integration with monitoring systems, which has led to a substantial increase in the adoption of these products across diverse industries. Furthermore, the expansion of the renewable energy sector, particularly in solar and wind power generation, has further fueled the demand for voltage transducers.

Voltage transducers may exhibit limitations in terms of their accuracy and resolution, particularly in the case of lower-cost or less advanced models. This can pose challenges in applications that demand highly precise voltage measurements or when working with low voltage levels. High-quality and advanced voltage transducers may carry a higher price point, rendering them less accessible for projects or customers with budget constraints, which could impede product adoption.
 

Nonetheless, the integration of voltage transducers with Industrial Internet of Things (IIoT) platforms has introduced opportunities for the voltage transducer market. This integration allows for remote monitoring, predictive maintenance, and real-time data analytics, creating a new avenue for the application and adoption of voltage transducers.
 

COVID-19 Impact

Amid the COVID-19 pandemic, activities related to the development, construction, and upkeep of power infrastructure continued without any government-mandated restrictions on new energy projects. Nevertheless, as governments initiated measures to resume operations in key industries, manufacturing facilities, and infrastructure projects, this is anticipated to positively impact business expansion. The heightened demand for energy from these sectors plays a pivotal role in driving this positive outcome.
 

AC Voltage Transducer Market Trends

The growth of the renewable energy sector, particularly in solar and wind power generation, has led to a heightened demand for voltage transducers. These transducers play a crucial role in renewable energy systems by measuring and monitoring voltage levels to ensure the stability and efficiency of power conversion and distribution. They are integral components in improving the safety and reliability of electrical systems. Furthermore, there is a growing emphasis on enhancing safety features, which includes incorporating galvanic isolation and protection against electrical disturbances to prevent equipment damage and ensure the safety of personnel. These advancements are significantly driving the demand for advanced voltage transducers.
 

AC Voltage Transducer Market Analysis

Based on application, the industrial machinery segment is set to grow at a CAGR of 6.1% through 2032. The Industrial Internet of Things (IIoT) has revolutionized the way industrial machinery and voltage transducers interact by enabling seamless connectivity and data exchange. This connectivity paves the way for real-time monitoring, remote diagnostics, and predictive analytics, thereby enhancing operational efficiency, predictive maintenance, and the optimization of industrial processes. In the realm of industrial machinery, preventive and predictive maintenance strategies have become increasingly vital. Voltage transducers are integrated into condition monitoring systems to identify abnormal voltage levels, fluctuations, or deviations that may signal impending equipment failures.
 

The AC voltage transducer market across the Asia Pacific region held a majority market share of over 40.6% in 2022 on account of strong infrastructure development and industrialization activities across various countries including India, China, among others. Asia Pacific current transformer market is anticipated to witness a significant growth owing to upgradation and expansion of prevailing energy networks and rising peak load demand across the region. Voltage transducers play a pivotal role in these sectors by measuring and monitoring voltage levels in solar inverters, wind turbines, and grid integration systems.
 

AC Voltage Transducer Market Share

ABB commands a substantial share in the AC voltage transducer industry, distinguished for its extensive experience in engineering and producing diverse transducer technologies, encompassing AC, DC, among others. With a rich history deeply rooted in the power equipment and monitoring sector, the company has delivered transducer solutions across a broad spectrum of applications, spanning railways, industrial machinery, and others.
 

Some of the key market players operating across the AC voltage transducer industry are:

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

This AC voltage transducer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report

By Application

• Railways
• Industrial Machinery
• Power Plants
• Electric Vehicles
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • France
  • Russia
  • UK
  • Italy
  • Spain
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Egypt
  • South Africa
  • Nigeria
• Latin America
  • Brazil
  • Peru
  • Argentina