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The renewable energy sector has emerged as a key driver for the current transducer industry. With the increasing adoption of solar and wind energy systems, these devices are essential for monitoring power generation, ensuring grid stability, and optimizing energy flow. Current transducers provide critical insights into system performance, aiding in predictive maintenance and reducing downtime. As global efforts to transition to renewable energy intensify, the demand for high-accuracy, durable transducers capable of withstanding harsh environmental conditions is expected to grow significantly. As IoT and smart systems gain traction, current transducers equipped with digital interfaces and wireless communication capabilities are emerging, offering seamless data integration and real-time monitoring for advanced industrial and energy management solutions.
Major players in the current transducer industry include ABB, Howard Butler, Johnson Controls, NK Technologies, Phoenix Contact, Siemens, Texas Instruments, and Topstek.
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.
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.
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.
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.