Utility Scale Current Transducer Market

Utility Scale Current Transducer Market Size

The global utility scale current transducer market was estimated at USD 202.9 million in 2024. The market is expected to grow from USD 211.3 million in 2025 to USD 322.5 million in 2034, at a CAGR of 4.8%. The push for grid modernization and smart grid development is driving the market. These devices, which measure and convert electrical currents, are vital for improving grid efficiency and reliability. As countries invest in upgrading their aging infrastructure with smart technologies, the demand for high-precision current transducers continues to grow. For instance, in 2023, more than 770 grid modernization were undergoing in the U.S.

Moreover, owing to rising objective of reduction in carbon elimination the rise in investment potential in renewable energy sector by different countries is expected to increase the demand for utility scale current transducers. For instance, in 2024, Australia registered 9 billion investment for generating renewable energy of around 23 GW and battery of around 9GW. Additionally, EV sales owing to the price reduction in emerging economies such as China and India. For instance, global sales of EV in 2024 crossed 17 million units a 25% growth from 2023 EV sales. Transducers in EV are used for various purpose including monitor and manage electricity flow while charging EVs.

As the population rising the electricity demand is also increasing worldwide. The growing incidences of hurricane and other natural calamities leading to rising energy outage and cost of electricity units. For reference, in 2020 and 2021 the electric company Entergy in Louisiana raised rate by $8 a month post destructive hurricanes. Furthermore, this rate was again raised by 2% in the U.S. residential electricity bills in 2023. Utility scale transducers optimize their operations, decrease energy leak thus leading to cost-effective EV charging services. This will boost the demand for utility scale transducers in future.

Utility Scale Current Transducer Market Trends

The utility scale current transducer industry has been registering a noteworthy positive trend owing to growing demand for effective energy management from various end users such as EV, renewable energy and others. This promotes numerous innovative initiations in the industry. Artificial intelligence (AI) and machine learning (ML) being some of these innovations in the field. The technology helps to automate and improve the energy consumption.

The technology provides real time energy pricing and grid condition. Owing to such benefits and rising demand for advanced utility scale transducer solution, companies dealing in hi-tech solution are motivated to introduce efficient products. For instance, in September 2024, Infinrel a US startup launched its AI enabled software solution to analyze component failure in utility scale inverters.

Moreover, rising smart grids and smart meters also rises the demand for utility scale current transducers to monitor the energy consumption. For instance, according to the U.S. Department of Energy (DOE) more than 130 million smart meters were installed in the U.S as of 2023. Along with rising investment in smart grid technology also expected to rise the demand for DSM solutions.

For instance, in August 2024, government of the U.S. announced investment of USD 2.2 billion for restoration of power grids. Such technological innovation increases demand for current transducers for grids to optimize the energy flow will rise the growth of market in focus.

Further innovations to align itself with the goal of environmental preservation across globe and reduce the carbon footprint many companies are using sustainable materials to design current transducers for utility facilities. For example, use of recyclable materials in the production of current transducers. This initiative is cost-effective due to reduced cost in response to newly exploring for materials.

Similarly, usage of sustainable material for production of sensors in current transducers further strengthens its sustainability. Many companies dealing in sensor manufacturing are producing coreless sensors or designing lightweight sensors to reduce energy consumption thus reducing cost of sensors. Such initiatives increases demand for utility scale current transducers.

Utility Scale Current Transducer Market Analysis

Utility scale current transducer market reached USD 187.8 million, USD 195.1 million and USD 202.9 million in 2022, 2023 and 2024 respectively. The market by service is segmented into closed loop and open loop.  

• The closed loop segment is predicted to reach over USD 190 million in 2034. The rising upgradation of power grid and automation of energy flow demand for closed loop technology in utility scale current transducers is rising. In addition, owing to its flexibility and adaptability towards voltage fluctuations the closed loop utility scale current transducers are more prominently used in scalable applications of grid.
  
• Furthermore, the closed loop transducers can adjust according to the real time data as per the change in climatic conditions, making them ideal for solar energy and EVs. Rising shift towards renewable energy also increasing demand for closed loop current transducers in modern grids.
  
• For instance, in 2023, the renewable energy generation recorded 473 GW capacity worldwide, thus registering a 36% increase in generation capacity from 2022 renewable energy generation capacity. In addition, the renewable energy source accounted around 30% of total electricity in 2023 across the globe.   
  
• Wherein, open loop technology is simpler in design and are affordable when compared to closed loop technology-based utility scale current transducers. Thus, making them ideal choice for smaller range of application with cost-sensitive client target group.
  

The motor drive segment is predicted to account 35.7% market share in 2024. The utility scale current transducer market by application is segmented into motor drive, converter & inverter, battery management, UPS & SMPS and others.

• Rising industrialization and upgradation of aging grids into modern grid and favorable government initiatives will also increase the demand for utility scale current transducers in motor drive application segment. For instance, in September 2024, world industrial production was increased by 0.1% from August 2024. This will aid growth in motor drive application segment for industrial usage.
  
• Furthermore, rising energy demand and simultaneously increasing power outage owing to various climatic conditions and other factors are rising demand for constant battery backup such as converter and inverts.
  
• For instance, in January 2025, major winter storm costed loss of power for more than 190,000 US households in the central and eastern side of the country. Such instances will rise demand for utility scale transducers in converter and inverter application segment during forecast period.
  
• Due to rise in introduction of EV owing to rising adoption of ecologically friendly transportation and supportive government policies in the field, the utility scale current transducer market is expected to witness higher demand from battery management application segment.
  
• For instance, in 2023, beyond 13.2 million of electric cars were purchased worldwide showcasing 33% YoY growth. Thus, reaching 40 million total number of electric cars on road by end of 2023.
  

• The utility scale current transducer market in U.S. reached USD 27.8 million, USD 28.9 million and USD 30.1 million in 2022, 2023 and 2024 respectively. Favorable government initiatives for energy efficiency and investment in smart grid adoption across the nation are driving demand for advanced current transducers for utility setting.
  
• For instance, in 2024, the U.S. tax credit and incentives for energy efficient including BEMS was extended under national programs such as Inflation Reduction Act. This enhances demand for utility scale current transducers in U.S.
  
• Furthermore, rising EV sales and higher adoption of renewable energy across the continent the demand for current transducers for utilities in APAC will rise spontaneously. For instance, Chinese government announced extension of its NEV tax reduction and exemption rule until 2027. Thus, rise in sales of EV was observed in 2024 as compared to 2023.
  

Utility Scale Current Transducer Market Share

Top 4 companies including ABB, LEM, Siemens and Johnson Controls held a market share of over 30% in 2024. Many market players are operating in utility scale current transducer industry and players are working to develop cost-effective and wide volt range portable LFP batteries.

Among these companies ABB is one of the largest shares holding company in the utility scale current transducer market. Owing to its vast product offerings, widespread of geological clientele and strategic partnership with clients to offer customized current transducers along the side of standard solutions. The demand for utility scale current transducer is expected to boost as the renewable energy and electric vehicle industry constantly grow, especially in emerging countries such as China, and India.

Furthermore, supportive government regulations in the developing and developed countries and affordable labor cost further decreases prices of utility scale current transducer and aids strong uphold of market in the cost-sensitive group of consumers. Other major companies including LEM, Siemens and Johnson Controls are also poised to target significant share of the market in focus, particularly in cost-sensitive electric vehicles target group and energy storage systems sectors.

Utility Scale Current Transducer Market Companies

Some of the key market players operating across the utility scale current transducer industry are:

• ABB
• Howard Butler
• Johnson Controls
• LEM
• NK Technologies
• Phoenix Contact
• Siemens
• Texas Instruments
• Topstek
  

• ABB is a Swidish multinational electrical engineering company. The company holds significant market share in utility scale current transducer market. The company registered around 9% to 9.5% revenue growth in 2023 from 2022 crossing USD 32 billion. Its strategies such as partnership with grid corporations especially in developing nations enhances the client range for utility scale current transducers.
  
• Johnson Controls is a U.S. located multinational company that operates in smart buildings industry. The company provide smart technologies, energy solutions and integrated infrastructure. The company witnessed nearly 8%-8.3% in revenue growth in 2023 from 2022 crossing over USD 22 billion. The company combines advanced technologies into products.
  
• LEM a Switzerland based electrical component manufacturer offering various current and voltage measuring solutions including current transducers. The company recorded more than USD 445 million in 2023. The company offer cost-effective current transducers to achieve cost-sensitive users target thus, witnessing rise in sales for the same.
  
• Siemens a Germany headquartered multinational company with global footprint in energy, automation, and digitalization business segments. The company registered a revenue of USD 83 billion in 2023. In addition, the company is developing effective software solution to improvise the current transducers operation for utility settings. The company is developing solutions for offshore and floating substations facility to capture untapped opportunities.
  

Utility Scale Current Transducer Industry News

• In June 2024, Yokogawa introduced its CT1000S current sensor. Its a AC/DC split core current sensors. The new product is modeled to be used in wide wavelength and high current application industries including renewable energy, automotive, railway infrastructure and ship building.
  
• In May 2024, LEM announced the launch of its two new coreless high current sensors. These current sensors are designed to smoothly operated in renewable energy industry. The new products are of two different variation of open loop coreless integral technology and are made from 100% recyclable materials. The products claim to consume 85% less energy than similar closed loop sensors.
  
• In January 2024, GoodWe expanded utility portfolio capacity by the launch of its new three phase utility string inverter of 1500V. The inverter is designed to use in large scale power grids. The newly introduced inverter offers high power efficiency and reliable system stability along the side of reduction in Levelized Cost of Energy (LCOE).
  
• In May 2023, ABB announced the plan of investment worth USD 4 million in a new distribution center at Pennsylvania, USA. The facility aims to store material worth more than USD 14 million to capture the growing demand for electrical products from northeast side of the united states. This investment further expand company's geological presence, enhance its customer service by offering quick responses to client leads. The initiative highlights on strengthening distribution to meet the region's increasing demand for electrical solutions.
  
• Danisense a Denmark based high accuracy current transducer manufacturer launched its new current transducer "DN1000ID" (February 2023). The product is majorly used in EV for its battery testing and evaluation.
  

The utility scale current transducer market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2021 to 2034, for the following segments:

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Market, By Technology

• Closed Loop
• Open Loop

Market, By Application

• 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
  • UK
  • France
  • Germany
  • Italy
  • Russia
  • Spain
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina