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Automotive Closed Loop Current Transducer Market Trends

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

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Automotive Closed Loop Current Transducer Market Trends

Automotive Closed Loop Current Transducer Market Size, 2022-2032 (USD Million)

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.

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.