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

Asia Pacific Current Transducer Market Trends

Report ID: GMI7341
Published Date: Nov 2023
Report Format: PDF

Download Free Sample

Asia Pacific Current Transducer Market Trends

The increasing adoption of electric vehicles (EVs) plays a significant role in propelling the current transducer market. These transducers find applications in EVs for tasks such as battery management, motor control, and charging systems. As the world shifts toward electric mobility, there is a growing need for current transducers that can accurately measure and monitor the substantial currents involved in EV power systems. Across various industries, safety regulations and compliance standards mandate precise and reliable current measurements to ensure equipment and system safety.

Consequently, there is a high demand for current transducers that not only meet safety standards but also provide electrical isolation to guarantee compliance with safety and regulatory requirements. Advancements in sensor technology, including enhanced accuracy, sensitivity, and miniaturization, are driving the expansion of the current transducer market.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market valuation of Asia Pacific current transducer was worth USD 257.5 million in 2022 and is projected to grow at a CAGR of 3.5% through 2032, backed by the shift towards smart grids and the integration of renewable energy sources.

Closed-loop current transducers, known for their high accuracy and linearity, are well-suited for applications that demand precise current measurements, such as power systems, industrial automation, and energy management.

China current transducer market held a share of over 45.2% in 2022 and will keep growing on account of China's ongoing industrialization and expansion of manufacturing sectors that require precise current measurements for process control, automation, and safety.

ABB, Phoenix Contact, Texas Instruments Incorporated, Johnson Controls, Topstek Inc, NK Technologies, Howard Butler Ltd, Siemens, Yokogawa Electric Corporation, and OMRON Corporation.