Current Transducer Market Segmentation:
End-User Segment Analysis
Industrial segment is likely to capture over 45% current transducer market share by 2035. The segment growth can be ascribed to the growing medical devices sector. For instance, the global medical device market is expected to expand by over 5% between 2024 and 2029.
This significantly boosts the demand for current transducers, as they are essential in medical devices including MRI machines, and CT scanners that require accurate current measurement.
Transducers are used in phonocardiography and other heart sound detection and recording systems and are also known to offer a catheter-to-monitor interface that enables the measurement of intravascular and intracardiac pressure.
Technology Segment Analysis
The open loop segment in current transducer market is estimated to register substantial revenue through 2035. The major factor for the expansion of the segment is rising industrial automation. For instance, global productivity will increase through automation by around 0.7% to 1% per year.
The foundation of open-loop current sensors is the measurement of the magnetic field produced by a conductor's current flow, which is extensively utilized in process monitoring and motor control in industrial automation.
In addition, the purpose of closed-loop systems is to induce a compensatory current in the secondary coil, that is used in industrial automation for overload protection, current regulation, and motor control.
Application (Inverter and Converter, UPS and SMPS, Battery Management, Motor Drive)
By the end of 2035, motor drive segment is set to dominate around 35% current transducer market share. Recent years have seen a notable increase in the market demand for current transducers because of their use in several industries, including motor drive to maximize motor driving performance and power efficiency.
Our in-depth analysis of the global market includes the following segments:
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