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Utility Scale Current Transducer Market Trends

Report ID: GMI11520
Published Date: Sep 2024
Report Format: PDF

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Utility Scale Current Transducer Market Trends

As energy efficiency and grid stability concerns grow, utilities are using current transducers to monitor and optimize energy use in large electrical systems. These devices help identify power losses, inefficiencies, and faults in transmission and distribution networks. By doing so, utilities can boost grid performance and cut operational costs. The rise of electric vehicle (EV) charging networks is boosting demand for current transducers in utility-scale uses. These devices are vital for monitoring current flow in large EV charging systems, helping maintain grid stability and prevent overloads. They manage high currents in fast-charging stations, ensuring safe and efficient power delivery.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The utility scale current transducer industry size was USD 195.2 million in 2023 and is envisioned to grow at a 4.6% CAGR up to 2032 led by the push for grid modernization and smart grid development.

The closed loop technology segment in the utility scale current transducer is anticipated to surpass USD 167.7 million by 2032 led by the need for precision, safety, and efficiency in large energy systems.

U.S. market is set to surpass USD 22.93 million by 2032 led by the need for providing real-time current flow data to help utilities enhance system efficiency and reduce blackouts.

ABB, Howard Butler, Johnson Controls, NK Technologies, Phoenix Contact, Siemens, Texas Instruments, and Topstek.