Press release
In-Depth Analysis of the Current Sensor Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
What market dynamics are playing a key role in accelerating the growth of the current sensor market?
The anticipated rise in electric vehicle demand is predicted to fuel advancements in the current sensor market. Electric vehicles (EVs), which draw their power from batteries and can be charged externally, make extensive use of current sensors. These sensors regulate the motor drive, govern the DC conversion of the motor's regenerative current, and monitor the charge and discharge currents of the vehicle's batteries. These functions are essential for vehicle control in both electric and hybrid models. Consequently, the growing popularity of electric vehicles will likely stimulate the current sensor market. The International Energy Agency, a France-based intergovernmental organization, has provided an example of this trend, reporting that while electric vehicle sales stood at 10 million units in 2022, projections for 2023 are at 14 million units. As such, the burgeoning demand for electric vehicles is directly contributing to the expansion of the current sensor market.
Get Your Current Sensor Market Report Here:
https://www.thebusinessresearchcompany.com/report/current-sensor-global-market-report
How will the growth rate of the current sensor market shape industry trends by 2034?
Recent years have witnessed significant growth in the current sensor market size. It is projected to expand from $2.63 billion in 2024 to $2.87 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.0%. Factors driving growth during the historical period included automotive electrification, the development of consumer electronics, innovation in medical devices, influence of regulatory standards, and the progression of industrial automation.
Strong expansion is anticipated in the current sensor market in the upcoming years, with projections indicating a rise to $4.11 billion in 2029, equating to a compound annual growth rate (CAGR) of 9.4%. The projected growth within the forecast period is linked to elements such as manufacturing capabilities and supply chain, global economic conditions, emerging applications, industry adoption patterns, market competition and innovation. Noteworthy trends for the forecast period encompass regulations on energy efficiency, growth in renewable energy, automobile electrification, industrial automation, and the emergence of IoT and smart devices.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9321&type=smp
What trends are poised to drive the future success of the current sensor market?
In the current sensor market, leading companies are pioneering new technology like coreless high-current sensors. These upgrades aim to heighten precision, diminish size, and boost efficiency when controlling and monitoring power. Traditional current sensors typically utilize a magnetic core to measure high electrical currents, but these next-level coreless high-current sensors do not. To illustrate, LEM, a manufacturer based in France known for its measurement and control instruments (especially within the aeronautics and space sectors), introduced The LEM HTFS 600-S and HASS 1000 in May 2024. These two prominent coreless high-current sensors are designed for precise readings in industrial environments. The HTFS 600-S can measure up to 600 A of current, its high linear response and fast response times make it ideal for tracking transient currents. On the other hand, the HASS 1000-S can measure up to 1000 A and its compact form makes it easily integrated into systems like electric vehicles and renewable energy configurations.
Which primary segments of the current sensor market are driving growth and industry transformations?
The current sensor market covered in this report is segmented -
1) By Type: Closed Loop, Open Loop
2) By Technology: Hall Effect, Shunt, Fluxgate, Magneto-Resistive
3) By Application: Motor Drive, Converter And Inverter, Battery Management, UPS And SMPS, Starter And Generators, Grid Infrastructure, Other Applications
4) By End-Use: Automotive, Consumer Electronics, Industrial, Telecommunication, Other End-Uses
Subsegments:
1) By Closed Loop: Hall Effect Current Sensors, Fluxgate Current Sensors, Rogowski Coil Sensors
2) By Open Loop: Hall Effect Sensors, Shunt Resistors, Current Transformers (CTs)
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9321
Which geographical regions are pioneering growth in the current sensor market?
North America was the largest region in the current sensor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the current sensor market report during the forecast period. The regions covered in the current sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the current sensor market landscape?
Major companies operating in the current sensor market include Allegro MicroSystems LLC, Honeywell International Inc., Infineon Technologies AG, TDK Corporation, TAMURA Corporation, Texas Instruments Incorporated, Melexis N.V., LEM International SA, ACEINNA Inc., Omron Corporation, Asahi Kasei Microdevices Corporation, STMicroelectronics N.V., Pulse Electronics Corporation, Vishay Intertechnology Inc., Microchip Technology Incorporated, ROHM CO. LTD., ON Semiconductor Corporation, Triad Magnetics Inc., Current Sensors Inc., SCT Sensing Technologies Inc., Analog Devices Inc., VACUUMSCHMELZE GmbH & Co. KG, Grace Technologies Inc, Eaton Corporation Plc, NK Technologies Inc., Crocus Technology Inc.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=9321&type=smp
What Is Covered In The Current Sensor Global Market Report?
• Market Size Forecast: Examine the current sensor market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the current sensor market for a structured understanding.
• Key Players Overview: Analyze major players in the current sensor market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the current sensor market.
• Segment Contributions: Evaluate how different segments drive overall growth in the current sensor market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the current sensor market.
• Industry Challenges: Identify potential risks and obstacles affecting the current sensor market.
• Competitive Landscape: Review strategic developments in the current sensor market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
The anticipated rise in electric vehicle demand is predicted to fuel advancements in the current sensor market. Electric vehicles (EVs), which draw their power from batteries and can be charged externally, make extensive use of current sensors. These sensors regulate the motor drive, govern the DC conversion of the motor's regenerative current, and monitor the charge and discharge currents of the vehicle's batteries. These functions are essential for vehicle control in both electric and hybrid models. Consequently, the growing popularity of electric vehicles will likely stimulate the current sensor market. The International Energy Agency, a France-based intergovernmental organization, has provided an example of this trend, reporting that while electric vehicle sales stood at 10 million units in 2022, projections for 2023 are at 14 million units. As such, the burgeoning demand for electric vehicles is directly contributing to the expansion of the current sensor market.
Get Your Current Sensor Market Report Here:
https://www.thebusinessresearchcompany.com/report/current-sensor-global-market-report
How will the growth rate of the current sensor market shape industry trends by 2034?
Recent years have witnessed significant growth in the current sensor market size. It is projected to expand from $2.63 billion in 2024 to $2.87 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.0%. Factors driving growth during the historical period included automotive electrification, the development of consumer electronics, innovation in medical devices, influence of regulatory standards, and the progression of industrial automation.
Strong expansion is anticipated in the current sensor market in the upcoming years, with projections indicating a rise to $4.11 billion in 2029, equating to a compound annual growth rate (CAGR) of 9.4%. The projected growth within the forecast period is linked to elements such as manufacturing capabilities and supply chain, global economic conditions, emerging applications, industry adoption patterns, market competition and innovation. Noteworthy trends for the forecast period encompass regulations on energy efficiency, growth in renewable energy, automobile electrification, industrial automation, and the emergence of IoT and smart devices.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9321&type=smp
What trends are poised to drive the future success of the current sensor market?
In the current sensor market, leading companies are pioneering new technology like coreless high-current sensors. These upgrades aim to heighten precision, diminish size, and boost efficiency when controlling and monitoring power. Traditional current sensors typically utilize a magnetic core to measure high electrical currents, but these next-level coreless high-current sensors do not. To illustrate, LEM, a manufacturer based in France known for its measurement and control instruments (especially within the aeronautics and space sectors), introduced The LEM HTFS 600-S and HASS 1000 in May 2024. These two prominent coreless high-current sensors are designed for precise readings in industrial environments. The HTFS 600-S can measure up to 600 A of current, its high linear response and fast response times make it ideal for tracking transient currents. On the other hand, the HASS 1000-S can measure up to 1000 A and its compact form makes it easily integrated into systems like electric vehicles and renewable energy configurations.
Which primary segments of the current sensor market are driving growth and industry transformations?
The current sensor market covered in this report is segmented -
1) By Type: Closed Loop, Open Loop
2) By Technology: Hall Effect, Shunt, Fluxgate, Magneto-Resistive
3) By Application: Motor Drive, Converter And Inverter, Battery Management, UPS And SMPS, Starter And Generators, Grid Infrastructure, Other Applications
4) By End-Use: Automotive, Consumer Electronics, Industrial, Telecommunication, Other End-Uses
Subsegments:
1) By Closed Loop: Hall Effect Current Sensors, Fluxgate Current Sensors, Rogowski Coil Sensors
2) By Open Loop: Hall Effect Sensors, Shunt Resistors, Current Transformers (CTs)
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9321
Which geographical regions are pioneering growth in the current sensor market?
North America was the largest region in the current sensor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the current sensor market report during the forecast period. The regions covered in the current sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the current sensor market landscape?
Major companies operating in the current sensor market include Allegro MicroSystems LLC, Honeywell International Inc., Infineon Technologies AG, TDK Corporation, TAMURA Corporation, Texas Instruments Incorporated, Melexis N.V., LEM International SA, ACEINNA Inc., Omron Corporation, Asahi Kasei Microdevices Corporation, STMicroelectronics N.V., Pulse Electronics Corporation, Vishay Intertechnology Inc., Microchip Technology Incorporated, ROHM CO. LTD., ON Semiconductor Corporation, Triad Magnetics Inc., Current Sensors Inc., SCT Sensing Technologies Inc., Analog Devices Inc., VACUUMSCHMELZE GmbH & Co. KG, Grace Technologies Inc, Eaton Corporation Plc, NK Technologies Inc., Crocus Technology Inc.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=9321&type=smp
What Is Covered In The Current Sensor Global Market Report?
• Market Size Forecast: Examine the current sensor market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the current sensor market for a structured understanding.
• Key Players Overview: Analyze major players in the current sensor market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the current sensor market.
• Segment Contributions: Evaluate how different segments drive overall growth in the current sensor market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the current sensor market.
• Industry Challenges: Identify potential risks and obstacles affecting the current sensor market.
• Competitive Landscape: Review strategic developments in the current sensor market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
