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AC Voltage Transducer Market Trends

Report ID: GMI7240
Published Date: Oct 2023
Report Format: PDF

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AC Voltage Transducer Market Trends

AC Voltage Transducer Market Size, 2021 - 2032 (USD Million)

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.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of AC voltage transducer was reached USD 996.2 million in 2023 and will witness 6.6% CAGR from 2024 to 2032, due to the heightened emphasis on energy efficiency and conservation along with the rising need for precise and dependable voltage measurement and monitoring.

AC voltage transducer market size from the industrial machinery application segment is set to observe 6.1% CAGR through 2032, owing to the surging requirement for enhancing operational efficiency, predictive maintenance, and the optimization of industrial processes.

Asia Pacific held over 40.6% of the AC voltage transducer industry share in 2022, owing to the presence of strong infrastructure development and industrialization activities in India and China.

Some of the leading AC voltage transducer companies are ABB, Siemens, Schneider Electric, Phoenix Contact, Analog Devices, Inc., CR Magnetics, Inc., NK Technologies, LEM International SA, Socomec, and Carlo Gavazzi.