Industrial Current Transducer Market - By Technology (Closed Loop, Open Loop), By Application (Motor Drive, Converter & Inverter, Battery Management, UPS & SMPS), 2024 – 2032

Industrial Current Transducer Market Size

Industrial Current Transducer Market size was assessed at USD 263.3 million in 2023 and is envisioned to grow at a CAGR of 3.7% up to 2032. The increasing emphasis on energy efficiency and the need for precise monitoring and control of power consumption across industrial sectors such as manufacturing, automotive, and utilities are propelling the demand for current transducers.
 

Additionally, the growing adoption of automation and smart technologies in industrial processes necessitates accurate current measurement for optimal performance and safety. Furthermore, stringent regulatory requirements and standards for electrical safety and energy management are pushing industries to invest in advanced current sensing solutions.
 

The rise of renewable energy sources and the integration of renewable power into industrial grids are creating opportunities for current transducer market expansion. For instance, as per European Commission, in 2022 the proportion of energy consumed in the EU sourced from renewables stood at 23.0%, rising from 21.9% in 2021. Within the EU, the portion of energy derived from renewable sources for transportation reached 9.6% in 2022, marking an increase from 9.1% in 2021.this in turn is anticipated to drive the demand for current transducers across such networks, as precise current monitoring is essential for effective power management and grid stability.
 

COVID–19 Impact

The COVID-19 pandemic significantly impacted the industrial current transducer market as global supply chains were disrupted, leading to production slowdowns and delays in project implementations. Many industries faced reduced capital expenditures, causing a temporary decline in demand for industrial equipment and sensing technologies, including current transducers.
 

However, the pandemic also accelerated the adoption of automation and digitalization in various sectors, increasing the long-term demand for precise monitoring and control solutions. As industries recover and adapt to the new normal, the market is expected to rebound with a focus on resilience, efficiency, and safety in industrial processes.
 

Industrial Current Transducer Market Trends

The market is experiencing significant growth driven by advancements in technology and the increasing demand for energy-efficient solutions. Key trends include the adoption of digital current transducers that offer higher accuracy, reliability, and integration capabilities with industrial automation systems.
 

Additionally, there's a growing emphasis on compact and lightweight designs to meet space constraints and enhance portability in industrial applications. The market also sees a shift towards wireless communication protocols, enabling seamless data transmission and remote monitoring capabilities. Furthermore, there is an increasing market demand for these transducers, which aligns with the global surge in adopting renewable energy sources. As nations such as Canada, Brazil, Sweden, and others exceed the 30% mark of their primary energy demand fulfilled by renewables by 2022, the necessity for effective current transducers becomes paramount in overseeing and enhancing renewable energy systems.
 

Industrial Current Transducer Market Analysis

The market is segmented in open loop and closed loop, based on technology. Closed loop holds a major market share of over 60% in 2023 and is anticipated to grow at a CAGR of over 3% by 2032. Closed-loop current transducers offer enhanced precision and reliability by employing feedback mechanisms to maintain accuracy in dynamic operating conditions. This technology ensures that the output signal corresponds precisely to the input current, thereby minimizing errors and improving overall performance.
 

Industries across various sectors, including manufacturing, power generation, and automotive, are increasingly embracing closed-loop current transducers to optimize processes, enhance safety, and achieve greater efficiency. The demand for closed-loop technology is driven by its ability to provide real-time monitoring and control capabilities, enabling businesses to streamline operations and reduce downtime. As a result, the market for industrial current transducers is witnessing significant expansion attributed to the advantages offered by closed-loop technology.
 

Segmented by application, the industrial current transducer market is categorized into converter & inverter, motor drive, UPS & SMPS, battery management, and other segments. Experiencing substantial growth, the market is projected to reach a market value of over USD 94 million from motor drive application. As industries seek to improve energy efficiency and control in electric motor systems, the demand for current transducers has surged.
 

These transducers play a critical role in monitoring motor currents, enabling precise control, and protecting against overload conditions. With advancements in motor drive technologies and the proliferation of electric vehicles, the market for industrial current transducers in motor drive applications is expanding rapidly, thus augmenting the overall market expansion.
 

The Asia-Pacific industrial current transducer market will reach over USD 145 million by 2032. Rapid industrialization across emerging economies such as China, India, and Southeast Asian countries is generating heightened demand for automation and monitoring solutions, thereby increasing the uptake of current transducers. Moreover, the region's burgeoning manufacturing sector, driven by factors like favorable government policies, infrastructure development, and foreign investments, is fueling the demand for industrial automation technologies, including current transducers.
 

 As per Economic Survey of India, manufacturing sector constitutes approximately 17% of the nation’s GDP and employes over 27.3 million workers, thus holding a substantial importance in the country's economy. By implementing various programs and policies, the Indian government aims to increase the manufacturing sector's contribution to the economy to 25% by 2025, which will complement the market growth.
 

Additionally, initiatives aimed at energy efficiency and sustainability are encouraging industries to adopt advanced monitoring and control systems, further stimulating market growth. Furthermore, the increasing deployment of renewable energy projects across the Asia-Pacific region necessitates robust current sensing solutions to optimize energy generation and distribution.
 

Industrial Current Transducer Market Share

 ABB maintains a dominant position in the market through its commitment to innovation, reliability, and extensive global reach. Leveraging cutting-edge technologies and a comprehensive portfolio of current sensing solutions, ABB caters to diverse industrial needs, ensuring precise monitoring and control of electrical currents. With a strong emphasis on quality and performance, ABB's current transducers are trusted by industries worldwide for their accuracy and durability. Additionally, ABB's established presence in key industrial sectors and its focus on customer satisfaction further solidify its leading position in the market.
 

Industrial Current Transducer Market Company

Some of the key market players operating across the open loop current transducer industry are:

• ABB
• CHEEMI TECHNOLOGY CO., LIMITED
• CHENYANG TECHNOLOGIES
• Danisense
• HBK
• Howard Butler Ltd
• Johnson Controls
• LEM International SA
• luksens
• NK Technologies
• Phoenix Contact
• PowerUC
• Senis AG
• Sensor Electronic Technology
• Siemens
• Texas Instruments Incorporated
• Topstek Inc
• VACUUMSCHMELZE GmbH & Co. KG
   

Industrial Current Transducer Industry News:

• In May 2023, ABB announced its intentions to establish a new distribution center in Pennsylvania, U.S., with a significant investment totaling USD 4 million. This strategic move aims to cater to the escalating electrical demands of the northeast region by offering reliable products. With an extensive inventory valued at USD 15 million, the facility not only augments ABB's existence in the Northeast but also increases its customer base, ensuring rapid responses to end-user requirements. This initiative underscores ABB's dedication to streamlined distribution processes and underscores its capacity to address the increasing demand for electrical solutions in the area.
   
• In February 2023, Danisense introduced a groundbreaking large-aperture current transducer. This innovation offers unparalleled accuracy and precision in measuring high currents. With a wide aperture of 89mm, the transducer enables non-intrusive monitoring in demanding applications such as electric vehicle charging, renewable energy, and industrial processes.
   
• The device's advanced design ensures minimal phase shift and exceptional linearity, providing reliable current measurement solutions. Danisense's large-aperture current transducer represents a significant advancement in current sensing technology, catering to the evolving needs of industries requiring precise current monitoring capabilities.
   

Industrial current transducer market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:

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Market, By Technology (USD million)

• Closed loop
• Open loop

Market, By Application (USD million)

• Motor drive
• Converter & inverter
• Battery management
• UPS & SMPS
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • Germany
  • France
  • Russia
  • UK
  • Italy
  • Spain
  • Netherlands 
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Egypt
  • South Africa
  • Nigeria
• Latin America
  • Brazil
  • Peru
  • Argentina