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Industrial Open Loop Current Transducer Market Trends

Report ID: GMI12043
Published Date: Oct 2024
Report Format: PDF

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Industrial Open Loop Current Transducer Market Trends

Industrial Open Loop Current Transducer Market Size, 2022-2032 (USD Million)

Tighter energy and emissions regulations are driving industries to adopt current transducers for better energy management. Open-loop transducers provide key data to monitor and optimize energy use, helping companies meet regulatory requirements. Recent innovations are making open-loop current transducers more suitable for industrial use. These sensors are now smaller, lighter, and more affordable. They also offer improved sensitivity, durability, and digital connectivity, expanding their industrial applications. The growth of IoT in industry is boosting demand for real-time current monitoring in predictive maintenance. IoT-enabled open-loop current transducers help monitor equipment health, detect faults early, and cut maintenance costs.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The global market for industrial open loop current transducer was reached USD 99 million in 2023 and is set to grow at a CAGR of 4.3% from 2024 to 2032, driven by the increasing adoption of automation in industries.

The UPS & SMPS segment is set to grow at a CAGR of over 4.5% through 2032, led by the increasing reliance on these systems for uninterrupted power in critical operations across data centers, manufacturing, and healthcare sectors.

The U.S. industrial open loop current transducer market is projected to exceed USD 20.3 million by 2032, supported by the country's push for automation in manufacturing and the growing demand for reliable current measurement in renewable energy and electrification sectors.

Key players in the industrial open loop current transducer market include ABB, Howard Butler, Johnson Controls, NK Technologies, Phoenix Contact, Siemens, Texas Instruments, and Topstek.