Global Current and Voltage Sensors Market (2024 Edition): Analysis By Technology Type (Hall Effect Technology, FluxGate Technology, Fiber Optic Technology, Others), By Application, By Region, By Country: Market Insights and Forecast (2019-2029)

Global Current and Voltage Sensors Market (2024 Edition): Analysis By Technology Type (Hall Effect Technology, FluxGate Technology, Fiber Optic Technology, Others), By Application, By Region, By Country: Market Insights and Forecast (2019-2029)

Executive Summary

Azoth Analytics has released a research report titled “Global Current and Voltage Sensors Market (2024 Edition)” which provides a complete analysis of the Global Current and Voltage Sensors industry in terms of market segmentation By Technology Type (Hall Effect Technology, FluxGate Technology, Fiber Optic Technology, Other Types), By Application (Automotive, Automation, Renewable Energy, Energy Distribution, Railway and Others) for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.

The report analyses the Current and Voltage Sensors Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Germany, United Kingdom, France, Italy, China, Japan, South Korea, India). The demand for energy-efficient solutions is increasing across various industries, and current and voltage sensors play a crucial role in enabling energy efficiency by monitoring and controlling power consumption. Additionally, electric and hybrid vehicles require sophisticated power electronics systems that rely on these sensors for accurate and reliable monitoring and control of power. As the adoption EV continues to grow, the demand for current and voltage sensors is expected to increase. Renewable energy sources such as wind and solar power require power electronics systems that rely on sensors for accurate and reliable monitoring and control of power. As the deployment of renewable energy sources continues to increase, the demand for current and voltage sensors is expected to grow.

Renewable energy and smart EV charging have a bright future, and they hold great promise for a cleaner, more sustainable world. As technology advances, even more advancements in renewable energy sources and the smart charging systems that support them will happen.

The EV revolution is upon us. According to the International Energy Agency (IEA), the number of electricity-powered passenger vehicles on the world’s roads could surpass 250 million by 2030, while the International Renewable Energy Agency (IRENA) estimates that electric buses and other mass transit vehicles could number well over 10 million.

Hall-effect technology based sensors work well for AC and DC and high or low currents, but performance is limited with higher frequencies. By nature, they’re smaller and well isolated, let alone accurate within certain current ranges.

Importantly, they can be located anywhere on the current path, simplifying design, installation, and maintenance. Typically based on a semiconductor material, they’re placed perpendicular to the magnetic field produced by a current. The voltage they generate is proportional to the current.

Fluxgate current sensors can generally work with both AC and DC, offering good isolation, good low-current performance, slightly greater size and complexity, and often better accuracy than Hall-effect devices. Fluxgate sensors, built around nonlinear magnetic materials, depend on changes in magnetization related to the magnetic field created by the current. This produces precise as well as highly linear results. Fluxgate current transducers are capable of high accuracy and are often used in applications where precise current measurements are essential.

Scope of the Report

• The report analyses the Current and Voltage Sensors Market by Value (USD Million).
• The report analyses the Current and Voltage Sensors Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Germany, United Kingdom, France, Italy, China, Japan, South Korea, India)
• The report presents the analysis of Current and Voltage Sensors Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Current and Voltage Sensors Market By Technology Type (Hall Effect Technology, FluxGate Technology, Fiber Optic Technology, Other Types)
• The report analyses the Current and Voltage Sensors Market By Application (Automotive, Automation, Renewable Energy, Energy Distribution, Railway and Others).
• The key insights of the report have been presented through the frameworks of SWOT Analysis. Also, the attractiveness of the market has been presented by region, By Technology Type, & by application.
• Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include LEM Holding, Allegro MicroSystems, Melexis, Electrohms, Bosch, Valeo, Borgwarner, Sinomags, Carlo Gavazzi, and Infineon.