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Global Current Sensor Market Size, Share, Trends, Forecast: By Type: Open Loop, Closed Loop; By Current Sensing Technology: Hall Effect, Current Transformer, Flux Gate, Rogowski Coil; By End Use: Automotive, Consumer, Industrial, Telecommunication, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Current Sensor Market Outlook
The global current sensor market attained a value of about USD 2.04 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.5% to reach nearly USD 3.60 billion by 2032.
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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.
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: Market 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.
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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.
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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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Current Sensing Technology |
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| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Opportunities and Challenges in the Market
8 Global Current Sensor Market Analysis
8.1 Key Industry Highlights
8.2 Global Current Sensor Historical Market (2018-2023)
8.3 Global Current Sensor Market Forecast (2024-2032)
8.4 Global Current Sensor Market by Type
8.4.1 Open Loop
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Closed Loop
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Current Sensor Market by Current Sensing Technology
8.5.1 Hall Effect
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Current Transformer
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Flux Gate
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Rogowski Coil
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.6 Global Current Sensor Market by End Use
8.6.1 Automotive
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Consumer
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Industrial
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Telecommunication
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Current Sensor Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Current Sensor Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Current Sensor Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Current Sensor Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Current Sensor Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Current Sensor Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 85)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) & Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) & Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) & Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) & Forecast (2024-2032)
17.5 Middle East & Africa Historical Price Trends (2018-2023) & Forecast (2024-2032)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Allegro MicroSystems, Inc.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Eaton
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Honeywell International Inc.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Infineon Technologies AG
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 TAMURA Corporation
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 TDK Corporation
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Sensitec GmbH
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Current Sensor Market: Key Industry Highlights, 2018 and 2032
2. Global Current Sensor Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Current Sensor Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Current Sensor Historical Market: Breakup by Current Sensing Technology (USD Million), 2018-2023
5. Global Current Sensor Market Forecast: Breakup by Current Sensing Technology (USD Million), 2024-2032
6. Global Current Sensor Historical Market: Breakup by End Use (USD Million), 2018-2023
7. Global Current Sensor Market Forecast: Breakup by End Use (USD Million), 2024-2032
8. Global Current Sensor Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Current Sensor Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Current Sensor Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Current Sensor Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Current Sensor Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Current Sensor Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Current Sensor Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Current Sensor Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Current Sensor Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Current Sensor Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Current Sensor Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Current Sensor Market Forecast: Breakup by Country (USD Million), 2024-2032
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 2018-2028
25. Europe Historical Price Trends and Forecast 2018-2028
26. Asia Pacific Historical Price Trends and Forecast 2018-2028
27. Latin America Historical Price Trends and Forecast 2018-2028
28. Middle East and Africa Historical Price Trends and Forecast 2018-2028
29. Global Current Sensor Market Structure
Key Questions Answered in the Report
In 2023, the global current sensor market attained a value of nearly USD 2.04 billion.
The market is projected to grow at a CAGR of 6.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 3.60 billion by 2032.
The major drivers of the market are the growing electrification of automobiles and the extensive use of current sensors in electric and hybrid vehicles.
The key trends guiding the market growth are the rising demand for clean energy, the increasing use of smart grids, and the development of advanced electric sensors.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of current sensor in the market are open loop and closed loop.
The different current sensing technologies considered in the market report are hall effect, current transformer, flux gate, and Rogowski coli.
The significant end uses of the product are automotive, consumer, industrial, and telecommunication, among others.
The key current sensor market players 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 2.04 billion in 2023, 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 2024-2032, growing at a CAGR of 6.5%. The market is projected to reach about USD 3.60 billion by 2032.
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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