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Current Sensor Market: High-growth Regions to Expand Geographic Footprint 2020-2026

Author : Ronak Bora | Published Date : 2020-09-02 

The global current sensor market is projected to observe momentous growth over the coming years due to the ongoing rise in factory automation trend and the use of industrial robots. These robots need current sensors across various applications such as converters, motor drives, battery management, and others.

Rising deployment of these robots across several industry verticals should positively impel the market size through the forecast timeframe. According to a research report by Global Market Insights Inc., the current sensor market is likely to exceed a valuation of $3.5 billion by 2026.

Moreover, the industry is expected to witness tremendous revenue growth over the projected time period owing to increasing adoption of electric vehicles. According to LME (London Metal Exchange), the global EV adoption rate is slated to go up to approximately 10-12.5% by 2025, a significant rise from the current 2% adoption rate. Current sensors witness extensive use in the electric vehicles industry, specifically in the vehicle charging infrastructure. With many developed economies offering tax benefits to promote adoption of electric vehicles and promote environmental sustainability, current sensor market size would increase significantly.

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Increasing application scope of current sensors in battery management within electric vehicles, automotive circuit protection systems, and EV-charging systems in the automotive sector would outline the market growth from battery management application segment.

The rising number of vehicles that incorporate rechargeable batteries; including PHEVs (Plug-in Hybrid Vehicles), HEVs (Hybrid Electric Vehicles), and EVs (electric vehicles) need battery management systems to make the vehicles more efficient, which would stimulate the segment size. Based on these growth factors, the segment is slated to expand at a CAGR of more than 5% through the forecast timeframe.

Top Key Players In Current Sensor Market are Aceinna, Allegro Microsystems, LLC., Asahi Kasei Microdevices Corporation, Honeywell International Inc., Infineon Technologies AG, KOHSHIN ELECTRIC CORPORATION, Littelfuse, Inc., Melexis, NVE Corporation, Omron Corporation, ROHM CO. LTD., Sensitec GmbHs, Silicon Laboratories, STMicroelectronics N.V. , TAMURA Corporation, TDK Corporation, TE Connectivity, Texas Instruments Incorporated, VACUUMSCHMELZE GmbH & Co. KG, Vishay Intertechnology, Inc.

Europe current sensor market is slated to foresee distinguished growth due to the presence of stringent safety as well as emission regulations. These regulations favor the implementation of e-mobility across the region. In fact, the EC (European Commission) has set a CO2 emission reduction goal for the transport industry that is to be achieved by 2050. Owing to this objective, the transportation industry would observe a tremendous shift towards EVs between2030 and 2050.

In addition, key automotive companies like BMW Group, Audi, PSA Group are increasingly focusing towards the creation of more enhanced automotive safety systems like ADAS and autonomous driving, which is likely to propelling the regional market outlook further.

Speaking of companies, current sensor market giants are focusing on consolidating their foothold in the industry landscape to capitalize on the projected revenue opportunities from the Industry 4.0 trend. Taking June 2020 for instance, Allegro Microsystems, a renowned sensing solutions provider for energy-efficient systems, reportedly launched a series of the advanced hall-effect current sensors, ACS37002.

Table Of Content:

Chapter 5.    Current Sensor Market, By Type (Revenue, Shipment)

5.1.    Key trends, by type

5.2.    Closed loop

5.2.1. Market estimates and forecast, 2016 - 2026

5.3.    Open loop

5.3.1. Market estimates and forecast, 2016 - 2026

Chapter 6.    Current Sensor Market, By Technology (Revenue, Shipment)

6.1.    Key trends, by technology

6.2.    MEMS

6.2.1. Market estimates and forecast, 2016 – 2026

6.3.    Hall-effect

6.3.1. Market estimates and forecast, 2016 – 2026

6.4.    Shunt

6.4.1. Market estimates and forecast, 2016 – 2026

6.5.    Fluxgate

6.5.1. Market estimates and forecast, 2016 – 2026

6.6.    Magneto-resistive

6.6.1. Market estimates and forecast, 2016 – 2026

Chapter 7.    Current Sensor Market, By Application (Revenue, Shipments)

7.1.    Key trends, by application

7.2.    Motor drive

7.2.1. Market estimates and forecast, 2016 – 2026

7.3.    Converter & inverter

7.3.1. Market estimates and forecast, 2016 – 2026

7.4.    Battery management

7.4.1. Market estimates and forecast, 2016 – 2026

7.5.    UPS & SMPS

7.5.1. Market estimates and forecast, 2016 – 2026

7.6.    Others

7.6.1. Market estimates and forecast, 2016 – 2026

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/current-sensor-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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