Home > Energy & Power > Electrical Equipment > Current Transducer > Automotive Current Transducer Market

Automotive Current Transducer Market Trends

Report ID: GMI11591
Published Date: Sep 2024
Report Format: PDF

Download Free Sample

Automotive Current Transducer Market Trends

Strict emissions and fuel efficiency regulations are pushing automakers to produce more electric and hybrid vehicles. These vehicles rely on current transducers for power management. Government incentives for electric vehicles are also increasing demand for transducers in charging stations and battery systems. The rise of self-driving and connected cars is fueling demand for precise current transducers. These components are crucial for ADAS, V2X communication, and other smart car technologies. Accurate power monitoring ensures safety, performance, and energy efficiency in these advanced vehicles.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The global market size for automotive current transducer was valued at USD 114.5 million in 2023 and is projected to grow at a CAGR of 5.3% by 2032, reaching an estimated USD 181.4 million.

The battery management segment is set to grow at a CAGR exceeding 7.9% through 2032 due to the automotive industry's shift towards electric mobility.

The U.S. market is projected to exceed USD 23.5 million by 2032, driven by rapid adoption of electric vehicles (EVs) and supportive government policies.

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