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Base Year: 2024
Companies covered: 10
Tables & Figures: 20
Countries covered: 22
Pages: 110
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Voltage Transducer Market
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Voltage Transducer Market Size
The global voltage transducer market size was anticipated at USD 1.3 billion in 2024 and is expected to witness a CAGR of 7.2% till 2034, due to the increasing demand for precision monitoring and controlling electrical systems in various industries. These devices are among the important devices used in high voltage plants for the conversion of high signals into usable output for automation, metering, and protection systems. There has been an increasing adoption of voltage transducers across power generation, manufacturing, and renewable energy industries in order to enhance the system performance and reliability.
The growing deployment of smart grids and modern electrical infrastructures also contributes towards growing demand of smart grid, voltage transducers that ensures the efficient energy management, enhanced safety, and real time control in contemporary electrical networks.
Technological innovations are restructuring the industry of voltage transducer, as new products are introduced in the market which are highly accurate, more reliable, and smaller in size. The emergence of digital and wireless transducers has increased their usage in Internet of Things (IoT) integrated systems and remote monitoring systems. These technological advances facilitate better data acquisition and integration with analytical platforms, and improve operational optimization.
Voltage Transducer Market Trends
The renewable energy industry is major force contributing to the growth of the voltage transducer industry owing to the rise in the adoption of wind, solar and hydro power systems. Voltage transducers are an integral part for monitoring and managing the power conversion in renewable energy systems for grid balance and effective power circulation. Also, with the current influx of global efforts towards reducing the carbon emissions, there is surge in the demand for dependable energy monitoring systems.
There is in fact a growing demand for voltage transducers which are capable of functioning in hostile environmental conditions and in high AC voltage applications, this go far to assist the development of renewable energy infrastructures across the globe. In addition, with the development of compact solid state designs, where space is limited, such as in electric vehicles or portable devices, the range of uses of voltage transducers is further increased.
Voltage Transducer Market Analysis
On the basis of the product, the AC segment is expected to reach USD 1.6 million by 2034, due to greater needs of electric power resources to monitor correct voltages in power plants, factories, and grid facilities. These transducers serve the important purpose of converting vice versa of alternating current with certain voltages into standard outputs that are then managed more accurately and protected. Increased use of solar and wind energy sources has increased the demand of transducers which can manage variable AC voltage.
As per the type of application, the industrial segment to see 6.8% CAGR through 2034. The industrial voltage transducer market is witnessing a huge growing opportunity caused by the rise of the need of these devices in monitoring and controlling precisely the right amount of voltage for areas such as manufacturing, automation processes and energy systems. These devices help secure the proper functioning of machine parts, cut down the amount of power used, and make the working conditions safe in places where the voltage is high. With the advent of smart factory concepts and Industry 4.0 technologies, there is greater demand for transducers that are digital as well as IoT-integrated for real time monitoring and predictive maintenance.
The US voltage transducer market to hit USD 335.2 million by 2034, fuelled by the development of smart grids, renewable energy builds, and the scope of industrial automation. In an electric and power systems, these transducers are used for control or management of voltage, which enhances reliability and safety. The trend towards the use of high performance transducers has been aided by an increase in electric vehicles and renewable sources of energy wind and solar.
The Asia Pacific voltage transducer market is booming due to rampant urbanization and industrialization coupled with the rollout of renewable energy projects. The government of China, India, and Japan is channelling investments into the modernization of its electrical infrastructure and electric grids which has resulted in a surge in demand for efficient voltage transducers. The surge in demand for voltage transducers is further propelled by the high penetration of electric vehicles and renewable energy systems such as solar and wind power.
Voltage Transducer Market Share
The ABB Group is one of the leading companies in the market of voltage transducers and makes use of its extensive experience to provide an array of voltage transducer. It also offers standard models and customized solutions with performance improvement products. Due to its previous experience working in the power equipment market, ABB has a very good ability of developing customized transducer products for each application.
Voltage Transducer Market Companies
Some of the key players operating across the voltage transducer industry are:
Voltage Transducer Industry News:
This voltage transducer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2034, for the following segments:
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Market, By Product
Market, By Application
The above information has been provided for the following regions and countries: