Current Transducer Market Analysis

Current Transducer Segmentation

End-User (Industrial, Renewable, Automotive, Residential and Commercial)

Industrial segment is likely to capture over 45% current transducer market share by 2036. 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 (Closed Loop, Open Loop)

The open loop segment in current transducer market is estimated to register substantial revenue through 2036. 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 2036, 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:

Technology	Closed Loop Open Loop
Application	Inverter and Converter UPS and SMPS Battery Management Motor Drive
End-User	Industrial Renewable Automotive Residential and Commercial

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of the current transducer was over USD 559.85 Million.

The market size for the current transducer is projected to cross USD 1078 million by the end of 2036 expanding at a CAGR of 5% during the forecast period i.e., between 2024-2036.

The major players in the market are ABB, LEM, Texas Instruments, Phoenix Contact, NK Technologies, Siemens, CR MAGNETICS, INC., Veris Industries, Topstek, Inc., Danisense, and others.

In terms of end-user, the industrial segment is anticipated to account for the largest market share of 45% during 2024-2036.

The Asia Pacific barge current transducer is poised to hold the highest share of 40% by 2036.

Current Transducer Market Analysis