Current Transducers Market Analysis, Forecast, and Assessment 2017 - 2025

The process of conversion of one form of energy to another form of energy is known as transduction. A current transducer converts a signal in one form of energy to a different form of energy. Transducers are often employed at the boundaries of automation, measurement, and control systems, where electrical signals are converted to and from other physical quantities (energy, force, torque, light, motion, position, etc.). Current transducers are used to monitor the TeleCom power supply in cells or substations.

A transducer is a sensor and electronic device that converts temperature, pressure, or other conditions into an electrical signal that can be read at the other end of a wired or wireless location. The current transducers market can be segmented based on technology, application, end-user industry, and region. In terms of technology, the current transducers market can be bifurcated into closed and opened loops. Based on application, the current transducers market can be classified into motor drives, convertors and invertors, battery management systems, and others. In terms of end-user industry, the current transducers market can be segmented into telecommunications, industrial, commercial, residential, renewables, transportation, and automotive. Rise in demand for green products is a major trend in the current transducers market.

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One of the major drivers of the current transducers market is rise in new innovations and scientific research for obtaining better results. Moreover, increasing adoption of renewable energy sources, electric vehicles, control & monitoring systems, and industrial automation is also likely to drive the market. However, current transducers can never be used as a secondary source of electricity due to their high voltage. They could damage the equipment. They could also emit electric shocks if handled haphazardly. These factors are projected to restrain the current transducers market.

In terms of region, the countries in Asia Pacific, such as India, China, and Japan, have seen significant rise in demand for current transducers due to rapid industrialization and developing smart cities. China accounts for significant demand for electric vehicles due to incentive schemes from the government of the country to promote electric vehicles. Japan is leading the industrial automation regime and already looking forward to Industry 5.0. North America remains to be emerging market for the demand of current transducers due to abundant growth in industrial sector and urbanization. In Europe, countries such as the U.K., Germany, and France have increased the use of current transducers due to industrial advancements.

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Countries in Latin America such as Brazil and Mexico have considerably increased use of current transducers. Countries in Africa, such as South Africa and Angola, are likely to offer lucrative opportunities for the current transducers market in the near future. Countries in Middle East such as Saudi Arabia, UAE, Oman, and Qatar are moving their focus from oil-based economies to renewable energy. Saudi Arabia is an emerging country for the development of current transducers due to the country’s Vision-2030 initiative undertaken by the newly chosen leadership.

Key players in the current transducers market are ABB, LEM, Siemens, Texas Instruments, Hobut, and others.

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