Current Sensor Market by Type (Open Loop, Closed Loop), Current Sensing Technology (Hall Effect, Current Transformer, Flux Gate, Rogowski Coil), Sensing Method (Direct Current Sensing, Indirect Current Sensing), Application (Motor Drive, Converter and Inv

Current Sensor Market by Type (Open Loop, Closed Loop), Current Sensing Technology (Hall Effect, Current Transformer, Flux Gate, Rogowski Coil), Sensing Method (Direct Current Sensing, Indirect Current Sensing), Application (Motor Drive, Converter and Inverter, Battery Management, Uninterrupted Power Supply (UPS) and Switched-Mode Power Supply (SMPS), Starter and Generators, Grid Infrastructure, and Others), End Use (Automotive, Consumer Electronics, Industrial, Healthcare, Telecom, Renewable Energy, and Others), and Region 2023-2028


Market Overview:

The global current sensor market size reached US$ 1.95 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.93 Billion by 2028, exhibiting a growth rate (CAGR) of 6.72% during 2023-2028. The growing demand for energy-efficient devices, increasing adoption of electric vehicles, and advancements in sensor technology, represent some of the key factors driving the market.

A current sensor is an electronic device that detects and measures the electrical current flowing in a circuit. It typically works by measuring the magnetic field generated by the current, which is then converted into an electrical signal that can be used to provide feedback or control the circuit. Current sensors are used in a wide variety of applications, including power management, industrial automation, and electrical safety. Some of the most commonly available current sensors, include Hall-effect sensors, Rogowski coils, and shunt resistors. Each type has its own advantages and disadvantages, and the choice of the sensor depends on the specific application and the accuracy and range of measurement required. In recent years, current sensors have gained traction in numerous modern electrical systems, as their accuracy and reliability are critical for ensuring safe and efficient operation. They are also often integrated into larger control systems or embedded in devices such as motor drives or battery management systems.

Current Sensor Market Trends:



One of the primary factors driving the market is the augmenting demand for energy-efficient devices across numerous industry verticals. Current sensors play a vital role in measuring and monitoring energy consumption, which helps in optimizing energy use and minimizing costs. Additionally, the rising demand for electric vehicles (EVs) is accelerating product adoption rate as current sensors are used to monitor and control the flow of electricity, ensuring that the battery is charged safely and efficiently. Other than this, the increasing adoption of automation and control systems has increased the demand for advanced sensors that can detect, measure, and monitor various parameters, thus creating a positive market outlook. Besides this, with the increasing demand for consumer electronics, such as smartphones and tablets, current sensors are employed as an ultra-low-power solution to achieve an accurate estimation of remaining battery life and protect circuitry and Li+ batteries from overcurrent conditions. Furthermore, the development of advanced sensor technologies, such as Hall-effect sensors and shunt resistors, offers high accuracy and reliability, making them suitable for a wide range of applications. On account of these factors, the market is expected to create a positive impact in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global current sensor market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type, current sensing technology, sensing method, application, and end use.

Type Insights:

Open Loop
Closed Loop

The report has provided a detailed breakup and analysis of the current sensor market based on type. This includes open loop and closed loop. According to the report, open loop represented the largest segment. 

Current Sensing Technology Insights:

Hall Effect
Current Transformer
Flux Gate
Rogowski Coil

The report has provided a detailed breakup and analysis of the current sensor market based on current sensing technology. This includes hall effect, current transformer, flux gate, and rogowski coil. According to the report, hall effect represented the largest segment. 

Sensing Method Insights:

Direct Current Sensing
Indirect Current Sensing

The report has provided a detailed breakup and analysis of the current sensor market based on sensing method. This includes direct current sensing and indirect current sensing. According to the report, direct current sensing represented the largest segment. 

Application Insights:

Motor Drive
Converter and Inverter
Battery Management
Uninterrupted Power Supply (UPS) and Switched-Mode Power Supply (SMPS)
Starter and Generators
Grid Infrastructure
Others

The report has provided a detailed breakup and analysis of the current sensor market based on application. This includes motor drive, converter and inverter, battery management, uninterrupted power supply (UPS) and switched-mode power supply (SMPS), starter and generators, grid infrastructure, and others. According to the report, motor drive represented the largest segment. 

End Use Insights:

Automotive
Consumer Electronics
Industrial
Healthcare
Telecom
Renewable Energy
Others

The report has provided a detailed breakup and analysis of the current sensor market based on end use. This includes automotive, consumer electronics, industrial, healthcare, telecom, renewable energy, and others. According to the report, industrial represented the largest segment. 

Regional Insights:

North America

United States
Canada

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for current sensor. Some of the factors driving the Asia Pacific current sensor market included the increasing demand for energy-efficient devices, the growing adoption of automation and control systems, and the rising demand for electric vehicles.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global current sensor market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Aceinna Inc., Allegro MicroSystems Inc. (Sanken Electric Co. Ltd.), Asahi Kasei Microdevices Corporation (Asahi Kasei Corporation), Eaton Corporation Plc, Honeywell International Inc., Infineon Technologies AG, LEM Group, Melexis NV, Sensitec GmbH, Tamura Corporation, TDK Corporation, Texas Instruments Incorporated, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

How has the global current sensor market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global current sensor market?
What is the impact of each driver, restraint, and opportunity on the global current sensor market?
What are the key regional markets?
Which countries represent the most attractive current sensor market?
What is the breakup of the market based on type?
Which is the most attractive type in the current sensor market?
What is the breakup of the market based on the current sensing technology?
Which is the most attractive current sensing technology in the current sensor market?
What is the breakup of the market based on sensing method?
Which is the most attractive sensing method in the current sensor market?
What is the breakup of the market based on application?
Which is the most attractive application in the current sensor market?
What is the breakup of the market based on end use?
Which is the most attractive end use in the current sensor market?
What is the competitive structure of the global current sensor market?
Who are the key players/companies in the global current sensor market?


1 Preface
2 Scope and Methodology
  2.1 Objectives of the Study
  2.2 Stakeholders
  2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
  2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
  2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
  4.1 Overview
  4.2 Key Industry Trends
5 Global Current Sensor Market
  5.1 Market Overview
  5.2 Market Performance
  5.3 Impact of COVID-19
  5.4 Market Forecast
6 Market Breakup by Type
  6.1 Open Loop
6.1.1 Market Trends
6.1.2 Market Forecast
  6.2 Closed Loop
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Current Sensing Technology
  7.1 Hall Effect
7.1.1 Market Trends
7.1.2 Market Forecast
  7.2 Current Transformer
7.2.1 Market Trends
7.2.2 Market Forecast
  7.3 Flux Gate
7.3.1 Market Trends
7.3.2 Market Forecast
  7.4 Rogowski Coil
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Sensing Method
  8.1 Direct Current Sensing
8.1.1 Market Trends
8.1.2 Market Forecast
  8.2 Indirect Current Sensing
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
  9.1 Motor Drive
9.1.1 Market Trends
9.1.2 Market Forecast
  9.2 Converter and Inverter
9.2.1 Market Trends
9.2.2 Market Forecast
  9.3 Battery Management
9.3.1 Market Trends
9.3.2 Market Forecast
  9.4 Uninterrupted Power Supply (UPS) and Switched-Mode Power Supply (SMPS)
9.4.1 Market Trends
9.4.2 Market Forecast
  9.5 Starter and Generators
9.5.1 Market Trends
9.5.2 Market Forecast
  9.6 Grid Infrastructure
9.6.1 Market Trends
9.6.2 Market Forecast
  9.7 Others
9.7.1 Market Trends
9.7.2 Market Forecast
10 Market Breakup by End Use
  10.1 Automotive
10.1.1 Market Trends
10.1.2 Market Forecast
  10.2 Consumer Electronics
10.2.1 Market Trends
10.2.2 Market Forecast
  10.3 Industrial
10.3.1 Market Trends
10.3.2 Market Forecast
  10.4 Healthcare
10.4.1 Market Trends
10.4.2 Market Forecast
  10.5 Telecom
10.5.1 Market Trends
10.5.2 Market Forecast
  10.6 Renewable Energy
10.6.1 Market Trends
10.6.2 Market Forecast
  10.7 Others
10.7.1 Market Trends
10.7.2 Market Forecast
11 Market Breakup by Region
  11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
  11.2 Asia-Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
  11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
  11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
  11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 Drivers, Restraints, and Opportunities
  12.1 Overview
  12.2 Drivers
  12.3 Restraints
  12.4 Opportunities
13 Value Chain Analysis
14 Porters Five Forces Analysis
  14.1 Overview
  14.2 Bargaining Power of Buyers
  14.3 Bargaining Power of Suppliers
  14.4 Degree of Competition
  14.5 Threat of New Entrants
  14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
  16.1 Market Structure
  16.2 Key Players
  16.3 Profiles of Key Players
16.3.1 Aceinna Inc.
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.2 Allegro MicroSystems Inc. (Sanken Electric Co. Ltd.)
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.3 Asahi Kasei Microdevices Corporation (Asahi Kasei Corporation)
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.4 Eaton Corporation plc
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 Financials
16.3.4.4 SWOT Analysis
16.3.5 Honeywell International Inc.
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.5.3 Financials
16.3.5.4 SWOT Analysis
16.3.6 Infineon Technologies AG
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 Financials
16.3.6.4 SWOT Analysis
16.3.7 LEM Group
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Financials
16.3.8 Melexis NV
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.8.3 Financials
16.3.8.4 SWOT Analysis
16.3.9 Sensitec GmbH
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.10 Tamura Corporation
16.3.10.1 Company Overview
16.3.10.2 Product Portfolio
16.3.10.3 Financials
16.3.11 TDK Corporation
16.3.11.1 Company Overview
16.3.11.2 Product Portfolio
16.3.11.3 Financials
16.3.11.4 SWOT Analysis
16.3.12 Texas Instruments Incorporated
16.3.12.1 Company Overview
16.3.12.2 Product Portfolio
16.3.12.3 Financials
16.3.12.4 SWOT AnalysisKindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings