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Automotive Closed Loop Current Transducer Market Size

Report ID: GMI12021
Published Date: Oct 2024
Report Format: PDF

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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.

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Automotive Closed Loop Current Transducer Market Size in 2023:	USD 71.4 Million
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	4.9%
2024 – 2032 Value Projection:	USD 109.4 Million
Historical Data for:	2021-2023
No. of Pages:	80
Tables, Charts & Figures:	20
Segments covered:	Application
Growth Drivers:	Increasing demand for energy efficiency Technological advancements in current transducer Rise in electric vehicle adoption
Pitfalls & Challenges:	Growing use of integrated products

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Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The global market for automotive closed loop current transducer was reached USD 71.4 million in 2023 and is projected to grow at a 4.9% CAGR from 2024 to 2032, driven by the growing popularity of electric and hybrid vehicles.

The converter & inverter segment is expected to grow at a CAGR of more than 3.4% through 2032, driven by the need for efficient energy conversion in electric and hybrid vehicles.

The U.S. automotive closed loop current transducer industry is expected to surpass USD 15.3 million by 2032, fueled by the surge in electric vehicle adoption and supportive government incentives.

Key players in the industry include ABB, Howard Butler, Johnson Controls, NK Technologies, Phoenix Contact, Siemens, Texas Instruments, and Topstek.