Automotive Closed Loop Current Transducer Market Size - By Application, Analysis, Share, Growth Forecast 2024 – 2032

Automotive Closed Loop Current Transducer Market Size

The global automotive closed loop current transducer market was valued at USD 71.4 million in 2023 and is projected to grow at a CAGR of 4.9% from 2024 to 2032. The growing popularity of electric and hybrid vehicles is boosting demand for closed-loop current transducers. These vital components manage batteries, control motors, and distribute power in EVs. They're key to maintaining efficiency and safety in high-voltage systems, making them crucial for electric vehicle technology. Closed-loop current transducers are key to monitoring current flow in battery management systems (BMS). Growing focus on battery performance and safety has boosted demand for accurate, high-performance current measurement devices.
 

ADAS technology requires precise current monitoring for steering, braking, and energy recovery. Closed-loop current transducers are ideal for these tasks due to their quick response and high accuracy. The automotive industry's push for compact, lightweight components is shaping transducer design. Manufacturers now focus on creating smaller, energy-efficient devices without sacrificing performance. This trend is crucial for electric vehicles (EVs), where reduced weight leads to better driving range.
 

Automotive Closed Loop Current Transducer Market Trends

Using silicon carbide (SiC) and other silicon-based materials in current transducers boosts their performance. These materials improve temperature resistance and power handling, making the transducers ideal for high-power EV systems. Stricter automotive safety rules are pushing manufacturers to develop transducers that meet global EMC and insulation standards. These regulations are spurring improvements in current transducers that can endure harsh conditions without sacrificing accuracy. The rise in EV fast-charging stations boosts demand for closed-loop current transducers. These devices reliably handle high currents, ensuring stable power flow and protecting batteries during rapid charging.
 

Automotive Closed Loop Current Transducer Market Analysis

Based on application, the converter & inverter segment is set to grow at a CAGR of more than 3.4% through 2032. As the world embraces electric and hybrid vehicles, the need for efficient converters and inverters has grown. Closed-loop current transducers are key to managing high currents in powertrains, ensuring precise and stable power conversion. Efficient energy conversion is key to extending electric vehicle range. Closed-loop current transducers allow precise control of converters and inverters. This optimizes power flow, enhances battery life, and boosts overall vehicle efficiency.
 

The U.S. automotive closed loop current transducer market is expected to surpass USD 15.3 million by 2032. The U.S. is seeing a surge in electric vehicle (EV) adoption, fueled by rising consumer interest and government incentives. This trend is driving up demand for closed-loop current transducers, which are vital for EV battery management and powertrain systems. These devices are crucial for monitoring current in high-voltage EV systems, ensuring both efficiency and safety. As battery technology improves, Battery Management Systems (BMS) become more vital for extending battery life and maximizing range. Closed-loop current transducers are key to monitoring battery health and power flow, providing crucial real-time data for BMS operations.
 

The Asia Pacific region is shifting rapidly to electric and hybrid vehicles, driven by government incentives and environmental awareness. This change boosts demand for closed-loop current transducers, vital for battery management and powertrain control in these vehicles. China, Japan, and South Korea are investing heavily in electric and hybrid vehicles to meet green transport goals. This shift boosts demand for closed-loop current transducers, vital for measuring current in EV battery systems, inverters, and other high-voltage components.
 

Automotive Closed Loop Current Transducer Market Share

ABB is a prominent leader in the automotive closed-loop current transducer industry, leveraging its extensive expertise in developing a comprehensive range of transducers. Their product portfolio includes both standard models and a selection of customized solutions, along with complementary products to enhance performance. With a strong legacy in the electrical equipment sector, ABB consistently delivers tailored transducer solutions that address the unique needs of various applications.
 

Automotive Closed Loop Current Transducer Market Companies

Major key players operating across the automotive closed loop current transducer industry are:

• ABB
• Howard Butler
• Johnson Controls
• NK Technologies
• Phoenix Contact
• Siemens
• Texas Instruments
• Topstek
   

Automotive Closed Loop Current Transducer Industry News

• In May 2024, ABB is investing USD 4 million to establish a new distribution center in Pennsylvania, USA. Stocked with USD 15 million in inventory, this center is designed to meet the increasing demand for electrical products in the Northeast. This strategic investment will strengthen ABB's regional presence, enhance customer service, and enable quicker response times to support end-user needs. The initiative reflects ABB's commitment to efficient distribution and reinforces its ability to meet the rising demand for electrical solutions in the region.
   

This automotive closed loop current transducer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032, for the following segments:

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Market, By Application

• Motor Drive
• Converter & Inverter
• Battery Management
• UPS & SMPS
• Others

The above information has been 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
  • South Africa
• Latin America
  • Brazil
  • Argentina