Global Electrical Current Sensors Market Report 2023: Sector is Expected to Reach $4.8 Billion in 2023 at a CAGR of 10.1%

DUBLIN, July 4, 2023 /PRNewswire/ -- The "Electrical Current Sensors: Technologies and Markets" report has been added to ResearchAndMarkets.com's offering.

The global electrical current sensors market is expected to reach $4.8 billion in 2028 from $3 billion in 2023 at a CAGR of 10.1%.

One of the primary demand drivers for current sensors is their ease of integration into various systems. These sensors are compact in size and can be seamlessly incorporated into existing setups without the need for additional devices for current measurement. Their deployment eliminates the necessity of installing extra equipment, as the current sensors alone efficiently calculate and regulate the current.

Moreover, their small form factor eliminates the need for additional space and allows for easy mounting on equipment, even in remote industrial areas, without the need for infrastructure modifications. This convenience enables end-users to leverage their existing infrastructure and processes while selecting from a wide range of current sensors available in the market that best align with their specific requirements. The adoption of new design principles and the utilization of advanced bipolar complementary metal-oxide-semiconductor (BiCMOS) technologies have enabled significant improvements in integrated circuit (IC) performance within the current sensor market. This progress has also facilitated the exploration of novel product approaches by enabling the integration of additional functionalities within a single current sensor IC.

By focusing on enhancing IC performance, the key players in the current sensor market have the potential to usher in the next generation of fully integrated, cost-effective current sensor devices. This advancement holds the promise of delivering comprehensive solutions with improved performance and reduced manufacturing costs. Further, the growing use of battery-powered systems and the increasing focus on renewable energy are other significant trends that are shaping various industries and driving the demand for current sensing solutions.

The scope of the report includes an overview of the global electrical current sensors market as well as the analysis of global market trends, with data from 2021 and 2022, the latter considered the base year, as well as estimates for 2023 through 2028, with projections of CAGR in the forecast period. Revenue forecasts for this period are segmented based on technology, loop type, end user, and geography.

Finally, the report presents an analysis of the competitive dynamics of the current sensors market, including critical success factors such as research and development capability, installed base, branding, and ecosystem influence and partnerships. The report provides profiles of the manufacturers of current sensors. This report also analyzes the impact caused by the COVID-19 pandemic.

Companies Mentioned

Aceinna Inc.

Allegro Microsystems LLC

Asahi Kasei Microdevices Corp.

Der Ee Electrical Instrument Co. Ltd.

Honeywell International Inc.

Infineon Technologies AG

Kohshin Electric Corp.

Lem International Sa

Melexis Nv

Nippon Ceramic Co. Ltd.

Omron Corp.

Optek Technology Inc.

Pulse Electronics Corp.

Tamura Corp.

Tdk Corp.

Texas Instruments Inc.

Vishay Precision Group

Report Includes

42 data tables and 19 additional tables

An up-to-date overview and analysis of the global markets for electrical current sensors

Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 2028

Estimation of the actual market size and revenue growth forecast for electrical current sensors market in the USD million values, and corresponding market share analysis based on technology, loop type, end-user industry, and region

In-depth information (facts and figures) concerning the major factors influencing the progress of this market (benefits, and industry-specific challenges) with respect to specific growth trends, upcoming technologies, future prospects, and contributions to the overall market

Description of emerging technologies and innovations behind the development and applications of current sensors, with a special emphasis on new products being developed and the markets for these products

Holistic review of the impact of COVID-19 and the Russia-Ukraine war on the global and regional markets for electrical current sensors

A relevant patent analysis with significant allotments of recently published patents and patent applications on electrical current sensors

Identification of the key players operating in the market, and analysis of their competitive landscape based on recent developments, segmental revenues, and operational integration

Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Market Overview

Overview

Technology Snapshot

Direct Current Sensing Techniques

Advancements in Electric Current Sensors

Regulatory Standards

International Electrotechnical Commission (Iec)

Underwriters Laboratories (Ul)

Value Chain Analysis

Porter's Five Forces Analysis

Bargaining Power of Suppliers

Bargaining Power of Consumers

Threat of New Entrants

Competitive Rivalry

Threat of Substitutes

Future Outlook

Impact of Covid-19 on the Market

Positive Impact

Negative Impact

Impact of Russia-Ukraine War on the Market

Chapter 4 Market Dynamics

Overview

Market Dynamics

Market Drivers

Market Restraints

Market Opportunities

Chapter 5 Market Breakdown by Technology

Overview

Hall Effect Current Sensors

Open-Loop Hall Effect Sensors

Closed-Loop Hall Effect Sensors

Fiber-Optic Current Sensors

Rogowski Coil Current Sensors

Fluxgate Current Sensors

Others

Chapter 6 Market Breakdown by Loop Type

Overview

Open-Loop Current Sensors

Closed-Loop Current Sensors

Chapter 7 Market Breakdown by End-User Industry

Introduction

Automotive

Machinery Manufacturing

Process Industries

Consumer Electronics

Healthcare

Smart Building

Aerospace and Shipbuilding

Others

Chapter 8 Market Breakdown by Region

Overview

North America

Europe

Asia-Pacific

Rest of the World

Chapter 9 Patent Analysis

Overview

Geographical Patterns

Chapter 10 Competitive Landscape

Top Companies

Chapter 11 Company Profiles

Chapter 12 Appendix: Acronyms

For more information about this report visit https://www.researchandmarkets.com/r/ij3iyq

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