Utility Scale Open Loop Current Transducer Market Size – By Application, Analysis, Share, Growth Forecast, 2025 – 2034

Utility Scale Open Loop Current Transducer Market Size

The global utility scale open loop current transducer market was estimated at USD 76.8 million in 2024. The market is expected to grow from USD 80.5 million in 2025 to USD 128 million in 2034, at a CAGR of 5.1%.
 

The rise of renewable energy, especially large-scale solar and wind projects, is boosting demand for open-loop current transducers. These devices are vital for measuring and monitoring current in big energy systems, helping to keep renewable projects efficient and safe. Smart grids have driven up demand for reliable, accurate current transducers. These devices are crucial for real-time monitoring, managing energy resources, and improving grid efficiency.
 

Additionally, because of the increasing goal of reduction in carbon emissions the investment prospects of the renewable energy sector are likely to increase in different countries resulting in increased demand for utility scale open loop current transducers. For instance, according to the International Renewable Energy Agency (IRENA), predicts average investment required in renewable power generation yearly to reach USD 1.3 trillion by 2030 than that of USD 486 billion in 2022, to achieve the global energy shift trend.
 

EV sales due to price drops in growing economies like China and India also contributes to the growth of utility scale open loop transducers. For example, global EV sales surpassed 17 million units in 2024, a 25% increase from EV sales in 2023. Transducers in EV are used for various purposes including monitor and manage electricity flow while charging EVs.
 

With the increase in population comes the increase in global electricity needs. Natural disasters such as hurricanes and other calamities are associated with heightened expenditure on energy in addition to resulting in loss of power. For example, after Entergy’s hurricanes in Louisiana, they increased electricity rates by USD 8 per month in 2020 and 2021. In addition, the 2023 inflation costed US citizens an additional 2% on their electricity bills. Utility grade transformers improve their functionality and reduce energy loss, thus increasing the affordability of EV charging services. This will increase the demand for utility scale open loop transducers in future.
 

Utility Scale Open Loop Current Transducer Market Trends

Utility scale open loop current transducer market reached USD 70.2 million, USD 73.4 million and USD 76.8 million in 2022, 2023 and 2024 respectively. The energy pricing and grid condition monitoring are done automatically. Such benefits and the ever-growing need for advanced utility scale transducer technology have been noted to motivate high-tech companies to better their offerings.
 

For instance, in September 2024, a US startup, Infinrel, launched an AI software solution developed for the analysis of component failure in utility scale inverters. Other operators, including EVs and renewable energy, are continually using more power which increases the demand for energy management. This leads to numerous novel initiatives have been emerging, most conspicuously in the fields of Artificial Intelligence (AI) and Machine Learning (ML). These technologies help to automate and improve energy consumption.
 

Furthermore, the rise in demand for utility scale current transducers owing to the increase in smart grids and smart meters for monitoring energy usage. For instance, the US Department of Energy reported that by 2023, more than 130 million smart meters were already installed and in use. In tandem with the growing investment in smart grid technologies is also anticipated growth in the demand for utility scale current transducers as well.
 

An example is the announcement made by the US government in August 2024 regarding plans to invest $2.2 billion toward the replenishment of electric power grids. Such innovation increases the need for current transducers in grids that optimize the energy flow, which will, in turn, drive the growth of the utility scale open loop current transducer market in focus.
 

To further achieve the carbon footprint-deduction goal prospects, many companies are adopting new and sustainable designs of current transducers, which enable them to preserve the environment by using less material and energy. For example, using environmentally friendly materials, such as recyclable plastics, to design current transducers for utility facilities. This initiative is economically advantageous from a material exploration offset perspective.
 

Likewise, the current transducer sensor produced using sustainable materials further enhances sustainability of the current transducers. Numerous businesses engaged in sensor manufacturing are generating coreless sensors or developing small weight sensors for low power consumption, thereby lowering the overall cost of the sensors. This kind of movement increases the need for utility scale current transducers.
 

Utility Scale Open Loop Current Transducer Market Analysis

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

• Increased investment in industrial infrastructures, as well as economic policies from favoring governments seeking to upgrade older American utility grids into modern and more efficient electricity grids, will improve the need for the utility scale transducers in motor drive applications.
   
• For instance, September 2024 witnessed an increase in global industry production for the month, rising 0.1% during August of that year, which translates to growth in motor drive applications used for industrial purposes.
   
• In addition, the ever changing and worsening nature of climatic conditions have drastically increased the need for sustained battery support systems, such as converters and inverters, making them much more powerful and popular in the utility scale open loop current transducer market.
   
• For instance, a major winter storm in January 2025 caused the loss of power for more than 190,000 households across the central and eastern portions of the U.S. Such instances increases demand for converters and inverters during the forecast period, thereby increasing the demand for utility scale transducers during the forecast period.
   
• The sharp increase in the adoption of EVs because of user-friendly and government policies coupled with the growing shift towards environment-friendly transportation, the utility transducer market is expected to see an increase in battery management application segment of the utility scale open loop current transducer market.
   
• For instance, in December 2024, total sales for fully electric vehicles and plug-in hybrids skyrocketed to 1.9 million units, demonstrating a growth of 25.6% from the previous year across the globe.
   
• The integration and automation evolution in the power grid results in increased need for open loop technology in utility scale current transducers. Moreover, due to their flexibility and adaptability towards voltage fluctuations these transducers are more dominantly used in modular grid applications.
   
• In addition, as a result of changing climate, these transducers can adapt in real time, which makes them highly suitable for solar energy and EVs. The increasing trend towards renewable energy also stimulates the use of utility scale open loop current transducers in contemporary power grids.  
   
• For instance, in 2023, renewable energy sources’ generation capacity was recorded at 473GW which is a 36% increase from renewable energy capacity in 2022. Moreover, renewable sources of energy contributed close to 30% of total energy generated in the world in the year 2023.
   
• Apart from this, 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 utility scale open loop current transducer market in U.S. reached USD 10.4 million, USD 10.9 million and USD 11.4 million in 2022, 2023 and 2024 respectively. The need for modern current transducers for utility setting is increasing due to positive government policies towards energy efficiency and smart grid implementation throughout the country.
   
• For instance, in the U.S. tax credit and incentives for energy efficient including BEMS that was offered in 2023 is expected to like the other national programs such as Inflation Reduction Act, be extended in 2024. This will increase the demand for utility scale open loop current transducers in the US.
   
• Increasing EV sales and higher adoption of renewable energy across the continent the demand for current transducers for utilities in APAC will rise spontaneously. For example, the Chinese government recently announced the renewal of their NEV tax reduction and exemption policy until 2027 subsequently leading to increased sales of EV from 2024 compared to 2023.
   
• For instance, China’s electric vehicle sales soared by 36.5% in December 2024, totaling 1.3 million units sold in that month, making it one of the 11 million EVs sold throughout the year.
   

Utility Scale Open Loop 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 participants are active in the utility scale open loop current transducer industry and are trying to develop low cost portable LFP batteries with wide volt range capabilities.
 

Among these companies, ABB is one of the largest shareholding companies in the current transducer market. This is due to the company's vast product range, geologically widespread clientele and ever-growing strategic partnerships with clients for offering customized current transducers along the side of standard solutions. The utility scale open loop current transducers market is expected to increase owing to the continuous growth of renewable energy and electric vehicles, especially in emerging economies like China and India.
 

Moreover, supportive government policies in developing and developed nations along with cheap labor costs makes the price for utility scale open loop current transducers very low which helps sustain the market within the cost sensitive group of consumers. Other key players such as LEM, Siemens and Johnson Controls are also likely to focus on the large portion of the market in consideration, especially in the cost-sensitive electric vehicle and energy storage systems market.
 

Utility Scale Open Loop Current Transducer Market Companies

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

• ABB
• Howard Butler
• Johnson Controls
• LEM
• NK Technologies
• Phoenix Contact
• Siemens
• Texas Instruments
• Topstek
   
• ABB is a Swedish multinational company that specializes in electrical engineering. For 2023, the company reported revenue growth of approximately 9% to 9.5%, surpassing $32 billion which is an increase from 2022. Its strategies such as partnering with grid corporations, especially in developing countries, broadens the customer base for utility scale open loop current transducers.
   
• Johnson Controls is a multinational company, based in the U.S., that works in the smart buildings sector. Their services include energy management, integrated infrastructure, and smart technology. In 2023, the company experienced a revenue growth of 8%-8.3% surpassing USD 22 billion in 2022. The enterprise integrates advanced technologies into products.
   
• LEM a Switzerland based company specializing in electrical components and has a wide array of solutions in measuring both current and voltage, including current transducers. This company had sales exceeding USD 445 million in 2023. In an attempt to target cost-sensitive customers, the company provides affordable current transducers, enabling the firm to experience an increase in sales.
   
• Siemens a Germany headquartered multinational company with a global presence in the energy, automation, and digitalization industries. Its revenue reached 83 billion USD in 2023. Furthermore, the company is designing and implementing powerful software solutions to enhance the existing interface transducers for utility environments. The company is also working on solutions for offshore and floating substations facilities to leverage new prospects.
   

Utility Scale Open Loop Current Transducer Industry News

• In June 2024, Yokogawa launched its CT1000S current sensor. It is an AC/DC split core current sensor. The sensor is designed for high current and wide spectrum applications including renewable energy, automotive, railway infrastructure, and ship building industries.
   
• In May 2024, LEM revealed the company's newest two coreless high current sensors. These sensors are meant to be used in renewable energy applications with ease. The new products come with two different variants of open loop coreless integral type, and are fabricated from fully recyclable plastics. The new sensors are claimed to be more energy efficient, using 85% less energy than equivalent closed loop sensors.
   
• In January 2024, GoodWe added a new three phase utility string inverter of 1500V. This inverter is specifically designed for use in power transmission within large scale power grids. New inverter increases the reduction in Levelized Cost of Energy (LCOE) while providing high power efficiency along with reliable system stability.
   
• In May 2023, ABB announced investment plans for USD 4 million in a new distribution center located in Pennsylvania, USA. The center plans to stock over USD 14 million worth of materials to meet the growing need from the northeastern side of the U.S. This investment enhance the company’s geo marketing, improves its service to customers by providing prompt reactions to client requests, helps strengthen distribution in the region and address the more increased need of electrical solutions in the specified region.
   

The utility scale open loop 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 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