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Current Sensor Market Analysis by Requirements, Demand and Supply 2019

Press release   •   Jul 25, 2019 12:34 IST

Global Current Sensor Market was valued at US$ 1.89Bn in 2017 and is expected to reach US$ 4.56Bn by 2026, at a CAGR of 11.64% during a forecast period.

The growing use of battery-powered applications and renewable energy forms, and increasing market for Hall Effect global current sensors market are among the key driving factors for this market. Furthermore, the development of locomotive electronic control systems and new car technologies, and significant commercialization of IoT and IIoT are among the other factors increasing the market growth.

Based on the type (1) segment,market is segmented into open-loop and closed-loop current sensors. The open-loop current sensors are expected to witness significant growth in the market during the forecast period as they provide a cost advantage over a closed-loop sensor in high current ranges (over 100 A). The sensors of this type are small in size and light in weight, and maintain constant power consumption, irrespective of the current levels.

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Global Current Sensor MarketOn the basis of end usersegment, the automotive industry accounted to hold the largest market share in 2026. The growth of market for the automotive segment is attributed to high volume of current sensors being used in automotive vehicles worldwide. Further, this growth is also ascribed to the growing number of electric vehicles and hybrid vehicles (EV and HEV). The growth of the electric vehicle industry is driven by the growing implementation of hybrid and electric cars in China, Germany, the US, and other countries.

In terms of region, APAC is expected to hold the largest market share in 2026. This growth is mainly attributed to the population growth and rapid urbanization in developing economies, such as China and Japan, which have accelerated the regional development and would in turn boost the demand for current sensors from several end users, like industrial, energy, telecom and networking, and healthcare sectors, and automotive and consumer electronics industries. The rapid implementation of the renewable sources for power generation and electric vehicles in China is the major factor contributing to the growing global current sensor market in APAC. It also has the maximum number of new electric vehicles registered in the region.

The report offers a complete evaluation of the market. It prepares so via detailed qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research organizations and expectations. By responsibility so, the research report serves as a repository of analysis and information for every facet of the market.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding current sensor market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in current sensor market.

Scope of Global Current Sensor Market

Global Current Sensor Market, by Type (1)

  • Open Loop
    • Closed Loop
  • Global Current Sensor Market, by Type (2)
  • Isolated Current Sensors
    • Non-Isolated Current Sensors
  • Global Current Sensor Market, by End User
  • Automotive
    • Consumer Electronics
    • Telecom and Networking
    • Healthcare
    • Industrial
    • Energy
    • Others
  • Global Current Sensor Market, by Region
  • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  • Key Players Operating in Global Current Sensor Market
  • Asahi Kasei Microdevices
    • Aceinna
    • Melexis
    • Allegro Microsystems
    • Infineon Technologies
    • TDK Corporation (TDK-Micronas GmbH)
    • Honeywell
    • Tamura Corporation
    • Texas Instruments
    • Silicon Labs
    • LEM International
    • Sensitec
  • For More Information About Report Visit: https://www.maximizemarketresearch.com/market-report/global-current-sensor-market/29865/

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