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Global Current Sensor Market: By Type: Open Loop, Closed Loop; By Current Sensing Technology: Hall Effect, Current Transformer, Flux Gate, Rogowski Coil; By End Use: Automotive, Consumer, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Current Sensor Market Outlook

The global current sensor market attained a value of about USD 1.7 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 6.30% to reach nearly USD 2.5 billion by 2026.

 

Growing Use of Current Sensor in the Automotive Industry to Augment the Current Sensor Industry

The extensive use of current sensors in the automotive industry is augmenting the market growth. As various components of vehicles are increasingly becoming automated, using assistance systems to support drivers while assuring safety, the use of electric currents is increasing significantly. Moreover, electric motors are widely used for the electrification of vehicles such as cars to enhance safety and convenience. This is increasing the use of a current sensor to measure for optimisation of consumption and emission reduction to prevent the damage of electric components in a vehicle, consequently propelling the growth of the current sensor industry. The surging demand for current sensors, which can provide reliability and durability, is providing further impetus to the market growth of current sensor.

 

Global Current Sensor Market

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The rising demand for electric vehicles (EV) and hybrid electric vehicles (HEV) is contributing significantly to the market growth of current sensor. The growing demand for an excellent current measuring tool is surging the use of reliable, high speed, and cost-efficient current sensors. In addition, the use of high-performance current sensors, which are durable, resistant to magnetic fields and can be shaped to fit compact spaces to enable customisation of designs in hybrid electric vehicles, is expected to invigorate the market growth. Current sensors are extensively used in high voltage Battery Management System (BMS) to determine their state of charge (SOC) and state of health (SOH) to improve the longevity of batteries and extend the life of electric vehicles.

 

Current Sensor: Industry Definition and Segmentation

Current sensors refer to those devices that are used to measure the flow of electric currents, which is vital in various electronic and instrumentation systems. They are used for circuit control and protection while monitoring and enhancing the performances of electronic systems. They are primarily deployed in several electronic devices and components, such as batteries and chargers and are widely used in numerous applications.

The major types of current sensor are:

  • Open Loop
  • Closed Loop

The market can be broadly categorised on the basis of its current sensing technologies into:

  • Hall Effect
  • Current Transformer
  • Flux Gate
  • Rogowski Coil

Based on end uses, the market is divided in

  • Automotive
  • Consumer
  • Industrial
  • Telecommunication
  • Others

The EMR report looks into the regional markets of current sensor like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Demand for Clean Energy Aiding the Market Growth of Current Sensor

The rising demand for clean energy owing to increasing environmental- consciousness is propelling the market growth. The production of cost-efficient power from solar and photovoltaic cells requires precise monitorisation of the current and voltage of every panel. This is increasing the use of current sensors, which are deployed to ensure the efficiency of solar and photovoltaic panels. Moreover, the rising use of smart grids to prevent power outages and failures is increasing the demand for current sensors to calibrate high and medium voltage transformers, hence boosting the market growth. The growing demand for high-efficiency power inverters to meet the surging energy demand is providing further impetus to the market growth.

The development of an open looped current sensor to meet the demands for its extensive use in various industries is aiding the market growth. Current sensors that can provide a rapid response time of fewer than ten seconds while offering thermal isolation and machine mountable standard packaging are increasingly preferred. The use of current sensors in motor control systems to control the torque and increase the reliability of motors by detecting fault conditions is also augmenting the growth of the current sensor industry. The development of current sensors that can be used as a substitute for high-frequency current transformers to reduce the size and improve the overall quality of electric components is projected to augment the industry growth.

 

Key Industry Players in the Global Current Sensor Market

The report presents a detailed analysis of the following key players in the global current sensor market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Allegro MicroSystems, Inc.
  • Eaton
  • Honeywell International Inc.
  • Infineon Technologies AG
  • TAMURA Corporation
  • TDK Corporation
  • Sensitec GmbH
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Current Sensing Technology, End Use, Region
Breakup by Type Open Loop, Closed Loop
Breakup by Current Sensing Technology Hall Effect, Current Transformer, Flux Gate, Rogowski Coil
Breakup by End Use Automotive, Consumer, Industrial, Telecommunication, Others
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Allegro MicroSystems, Inc., Eaton, Honeywell International Inc., Infineon Technologies AG, TAMURA Corporation, TDK Corporation, Sensitec GmbH, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Current Sensor Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Current Sensor Historical Market (2016-2020) 
    8.3    Global Current Sensor Market Forecast (2021-2026)
    8.4    Global Current Sensor Market by Type
        8.4.1    Open Loop
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Closed Loop
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global Current Sensor Market by Current Sensing Technology
        8.5.1    Hall Effect
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Current Transformer
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Flux Gate
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Rogowski Coil
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
    8.6    Global Current Sensor Market by End Use
        8.6.1    Automotive
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Consumer
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Industrial
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Telecommunication
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2016-2020)
            8.6.4.3    Forecast Trend (2021-2026)
        8.6.5    Others
    8.7    Global Current Sensor Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code: 85)

    12.1    Major Exporting Countries
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume
13    Price Analysis
    13.1    North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.2    Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.3    Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.4    Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.5    Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Allegro MicroSystems, Inc.
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Eaton
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Honeywell International Inc.
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    Infineon Technologies AG
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    TAMURA Corporation
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    TDK Corporation
            14.2.6.1    Company Overview
            14.2.6.2    Product Portfolio
            14.2.6.3    Demographic Reach and Achievements
            14.2.6.4    Certifications
        14.2.7    Sensitec GmbH
            14.2.7.1    Company Overview
            14.2.7.2    Product Portfolio
            14.2.7.3    Demographic Reach and Achievements
            14.2.7.4    Certifications
        14.2.8    Others
15    Industry Events and Developments

 

List of Figures and Tables

1.    Global Current Sensor Market: Key Industry Highlights, 2016 and 2026
2.    Global Current Sensor Historical Market: Breakup by Type (USD Million), 2016-2020
3.    Global Current Sensor Market Forecast: Breakup by Type (USD Million), 2021-2026
4.    Global Current Sensor Historical Market: Breakup by Current Sensing Technology (USD Million), 2016-2020
5.    Global Current Sensor Market Forecast: Breakup by Current Sensing Technology (USD Million), 2021-2026
6.    Global Current Sensor Historical Market: Breakup by End Use (USD Million), 2016-2020
7.    Global Current Sensor Market Forecast: Breakup by End Use (USD Million), 2021-2026
8.    Global Current Sensor Historical Market: Breakup by Region (USD Million), 2016-2020
9.    Global Current Sensor Market Forecast: Breakup by Region (USD Million), 2021-2026
10.    North America Current Sensor Historical Market: Breakup by Country (USD Million), 2016-2020
11.    North America Current Sensor Market Forecast: Breakup by Country (USD Million), 2021-2026
12.    Europe Current Sensor Historical Market: Breakup by Country (USD Million), 2016-2020
13.    Europe Current Sensor Market Forecast: Breakup by Country (USD Million), 2021-2026
14.    Asia Pacific Current Sensor Historical Market: Breakup by Country (USD Million), 2016-2020
15.    Asia Pacific Current Sensor Market Forecast: Breakup by Country (USD Million), 2021-2026
16.    Latin America Current Sensor Historical Market: Breakup by Country (USD Million), 2016-2020
17.    Latin America Current Sensor Market Forecast: Breakup by Country (USD Million), 2021-2026
18.    Middle East and Africa Current Sensor Historical Market: Breakup by Country (USD Million), 2016-2020
19.    Middle East and Africa Current Sensor Market Forecast: Breakup by Country (USD Million), 2021-2026
20.    Major Importing Countries by Volume (2020)
21.    Major Exporting Countries by Volume (2020)
22.    Major Importing Countries by Value (2020)
23.    Major Exporting Countries by Value (2020)
24.    North America Historical Price Trends and Forecast 2016-2026
25.    Europe Historical Price Trends and Forecast 2016-2026
26.    Asia Pacific Historical Price Trends and Forecast 2016-2026
27.    Latin America Historical Price Trends and Forecast 2016-2026
28.    Middle East and Africa Historical Price Trends and Forecast 2016-2026
29.    Global Current Sensor Market Structure

Key Questions Answered in the Report

In 2020, the global current sensor market attained a value of nearly USD 1.7 billion.

The market is projected to grow at a CAGR of 6.30% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 2.5 billion by 2026.

The market is being propelled by the growing electrification of automobiles and the extensive use of current sensors in electric and hybrid vehicles.

The industry is expected to be driven by the rising demand for clean energy, the increasing use of smart grids, and the development of advanced electric sensors.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major types of current sensor in the industry are open loop and closed loop.

The different current sensing technologies of current sensor are hall effect, current transformer, flux gate, and Rogowski coil.

The significant end uses in the market are automotive, consumer, industrial, and telecommunication, among others.

The major players in the industry are Allegro MicroSystems, Inc., Eaton, Honeywell International Inc., Infineon Technologies AG, TAMURA Corporation, TDK Corporation, and Sensitec GmbH, among others.

Analyst Review

The global current sensor market attained a value of approximately USD 1.7 billion in 2020, driven by the extensive use of current sensors in electric and hybrid vehicles. Aided by the growing demand for clean energy, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 6.30%. The market is projected to reach about USD 2.5 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the current sensor industry can be segmented into open loop and closed loop. On the basis of current sensing technologies, the industry is divided into hall effect, current transformer, flux gate, and Rogowski coil. By end uses, the market is categorised into automotive, consumer, industrial, and telecommunication, among others. The major regional markets for current sensor are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Allegro MicroSystems, Inc., Eaton, Honeywell International Inc., Infineon Technologies AG, TAMURA Corporation, TDK Corporation, and Sensitec GmbH, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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