Introduction

Current sensors, referred to as current transformers or CTs, are devices that measure the current running through a wire by using a magnetic field to detect the current and produce a proportional output. They are widely used with both AC and DC. These sensors find applications in inverter circuits and motor driving circuits and are used in different sectors including consumer electronics, automotive, and telecommunication. The current sensor helps to measure the electric current where the current ranges from Pico amps to tens of thousands of amperes. The measured current is then displayed on an ammeter and can be stored for control and data acquisition.

"The Current Sensor Market is estimated to grow from USD 2.41 billion in 2021 to USD 5 billion by 2028 at a healthy CAGR of 10.91% during the forecast period of 2022-2028".

Market Drivers

The market is mainly driven by the growing adoption of power management systems in data centers for enhanced efficiency & speed with reduced power expenditure. Current sensors integrated with backup power systems such as UPS systems and inverters help in the protection of batteries at the stage of charge and offer efficiency, which further boosts their demand in data centers. Furthermore, stringent government regulations about control of data center power consumption, further foster the market growth in the coming years.

Recent Development 

Nov 2022: Compact 300-mA LDOs Target High-Performance ADAS Sensors

ROHM’s new linear regulators, designed for low current consumption in automotive power supplies, offer up to 6.5 V maximum and operate to 300-mA output current with current consumption of 37 µA.

Oct 2022: UniWest Introduces the EddyView® II Portable Eddy Current Flaw Detector

The innovative EddyView II features a large 8-inch touchscreen display with gesture adjustments for key parameters such as gain and rotation, ability to drive conventional probes or array probes, an independent channel that monitors probe-to-part coupling (liftoff), and UniWest’s industry-leading signal performance with extremely low signal-to-noise.

Regional Trends

"North American Current Sensor market accounted for the largest share in 2021".

The North American Current Sensor market accounted for the largest share in 2021 and is expected to grow at a significant CAGR during the review period. The market growth is mainly propelled by growing governmental concerns to conserve the environment towards implementation of renewable sources of energy for electricity generation & conversion, further bolstering the regional market growth.

The Asia-Pacific market is expected to grow at the highest CAGR of more than 8% during the review period. This growth is mainly attributed to expanding establishments of hyper-scale data centers across Japan, China, India, and South Korea. These hyper-scale data centers are highly integrated with current sensors in different power management devices such as SMPS, data-centre UPS, and Power Distribution Units (PDUs), which further proliferate the regional market expansion.

key Players

The following are the key players in the Current Sensor Market (arranged alphabetically)

  • Allegro MicroSystems, LLC (US)
  • ABB Group (Switzerland)
  • Asahi Kasei Microdevices Corporation (Japan)
  • Honeywell International Inc. (US)
  • Infineon Technologies AG (Germany)
  • Melexis NV (Belgium)
  • NK Technologies (US)
  • TDK Corporation (TDK-Micronas GmbH) (Germany)
  • Tamura Corporation (Japan)
  • Vacuumschmelze GmbH & Co KG (Germany)

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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