Press release
Voltage Transducer Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Voltage Transducer Market
The increasing interest in electric vehicles is set to fuel the expansion of the voltage transducers market. Electrical vehicles are vehicles that employ a motor powered by electricity collected and stored in batteries. These vehicles operate using electric motors and power up their batteries with electricity instead of conventional fuel. Voltage transducers are important elements that control and adjust voltage levels at charging points. They ensure that the charging operation is safe and efficient, averting voltage inconsistencies and possible damage to the grid. For example, in July 2023, the France-based autonomous intergovernmental organization, Internal Energy Agency reported that over 2.3 million electric vehicles were sold in the first quarter of 2023, which is a 25% increase compared to the same time frame in 2022. The sales are projected to hit 14 million by the end of 2023, marking a 35% yearly growth, with the growth rate picking up in the latter half of the year. Consequently, the escalating adoption of electric vehicles will stimulate the voltage transducer market. Voltage Transducer Market Driver: Rising Utilization of Solar Panels Fuels Growth in the Voltage Transducers Market
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What growth opportunities are expected to drive the voltage transducer market's CAGR through 2034?
The market size for voltage transducers has seen significant growth in the past few years. The anticipated growth is from $2.44 billion in 2024 to $2.6 billion in 2025, representing a compound annual growth rate (CAGR) of 6.6%. This developed momentum can be linked to factors such as the rise of industrial automation, enhanced energy management, advancements in smart grid technology, and the booming telecommunications sector.
In the coming years, the voltage transducer market is predicted to witness robust growth, escalating to $3.29 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 6.0%. This surge in the projected timeline can be linked to various factors such as the growth of electric vehicle charging infrastructure, the Industrial Internet of Things (IIoT), the expansion of data centers, and an uptick in research and development investment. The forecast timeline also signals several significant trends which include technology advancements, edge computing, advanced metering infrastructure (AMI), and demand response programs.
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What are the emerging trends shaping the future of the voltage transducer market?
Businesses operating in the voltage transducer industry are concentrating on developing sophisticated transducers with fluxgate technology to reinforce their market position. Fluxgate technology, a kind of magnetic sensing technology used for measuring magnetic fields, is at the forefront of these advancements. For instance, Shenzhen Hangzhi Precision Electronics Co. Ltd., a Chinese firm specializing in the production of high-precision current sensors and measurement instruments, introduced the Hangzhi HCV series in January 2022. This high-precision voltage transducer, built with fluxgate technology, is a highly accurate voltage control and measurement component designed for use in industrial applications. It can accurately detect various voltage types including DC, AC, pulse, and irregular voltages, even when the primary and secondary sides are perfectly isolated. The transducer's main applications are in metrological verification, calibration, rail transportation, power quality monitoring, power analyzers, medical instruments, aerospace, naval vessels and other sectors where high sensitivity, stability, and reliability are necessary.
Which growth-oriented segments of the voltage transducer market are leading the industry's development?
The voltage transducer market covered in this report is segmented -
1) By Type: Alternating Current (AC), Direct Current (DC)
2) By Application: Railway Applications, Solar Panels, Multi-Parameter, Power Plants, Industrial Machinery, Electric Vehicles, Data Centers
3) By End-User: Transportation, Energy And Utilities, Manufacturing, IT And Telecommunication
Subsegments:
1) By Alternating Current (AC): Voltage Transformer, Current Transformer, Capacitive Voltage Divider
2) By Direct Current (DC): Hall Effect Transducer, Shunt Resistor Based Transducer, Isolation Amplifier Based Transducer
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North America was the largest region in the voltage transducers market in 2024. The regions covered in voltage transducers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the voltage transducer market?
Major companies operating in the voltage transducer market are Siemens AG, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Eaton Corp., Emerson Electric Co., TE Connectivity Ltd., Analog Devices Inc., Digi-Key Electronics Corp., Phoenix Contact GmbH & Co. KG, Yokogawa Electric Corporation, Fluke Corporation, LEM Holding SA, Veris Industries LLC, Ashcroft Inc., Dwyer Instruments Inc., Red Lion Controls Inc., NK Technologies, Building Automation Products Inc., Acromag Inc., Magnelab Corporation, Omron Automation Pvt. Ltd., Electro-Sensors Inc., Althen Sensors & Controls B.V., CR Magnetics Inc., Carlo Gavazzi Automation SpA, Aim Dynamics Inc., Continental Control Systems LLC, Darrah Electric Company.
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What Is Covered In The Voltage Transducer Global Market Report?
•Market Size Forecast: Examine the voltage transducer market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the voltage transducer market for a structured understanding.
•Key Players Overview: Analyze major players in the voltage transducer market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the voltage transducer market.
•Segment Contributions: Evaluate how different segments drive overall growth in the voltage transducer market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the voltage transducer market.
•Industry Challenges: Identify potential risks and obstacles affecting the voltage transducer market.
•Competitive Landscape: Review strategic developments in the voltage transducer market, including expansions, agreements, and new product launches.
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