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Current Transducer Market Size
The global current transducer market was valued at USD 641.1 million in 2024 and is expected to witness a CAGR of 4.6% from 2025 to 2034, driven by its expanding applications across industries such as automotive, renewable energy, and industrial automation. With the increasing demand for energy-efficient solutions, these devices play a crucial role in monitoring and controlling electrical parameters. Their integration into power electronics, motor drives, and grid infrastructure highlights their importance in ensuring precision and reliability. As industries emphasize sustainability and smarter energy management, the adoption of current transducers is expected to rise further, creating opportunities for innovation in design and functionality to meet diverse requirements.
Advancements in sensing technologies, including Hall-effect sensors and closed-loop transducers, are reshaping the market landscape. These innovations enhance accuracy, response time, and noise immunity, making current transducers more effective in high-performance applications. The trend toward miniaturization has also enabled integration into compact devices, supporting their use in space-constrained environments.
Who are the major players in the current transducer market?
Major players in the current transducer industry include ABB, Howard Butler, Johnson Controls, NK Technologies, Phoenix Contact, Siemens, Texas Instruments, and Topstek.
How big is the current transducer market?
The global market for current transducer was reached USD 641.1 million in 2024 and is expected to witness a CAGR of 4.6% from 2025 to 2034, driven by its expanding applications across industries such as automotive, renewable energy, and industrial automation.
How significant is closed-loop technology in the current transducer market?
Closed-loop technology is set to reach USD 595.6 million by 2034, led by its superior accuracy, fast response times, and enhanced linearity, making it ideal for high-performance applications.
What is the expected growth rate of the utility segment in the current transducer market?
The utility segment is expected to expand at a CAGR of more than 4.3% through 2034, due to the growing demand for reliable monitoring and control in large-scale power systems.
What is the forecast for the U.S. current transducer market by 2034?
The U.S. current transducer market is projected to exceed USD 135.2 million by 2034, fueled by advancements in industrial automation, renewable energy integration, and smart grid development.