DUBLIN--(BUSINESS WIRE)--The "Current Transducer Market by Technology (Open, & Close Loop), Application (Motor Drive, Battery Management, UPS & SMPS, Converter & Inverter), End-User (Industrial, Renewables, Automotive, Residential & Commercial) & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global current transducer market is projected to reach a market size of USD 683.7 Million in 2023, growing at a CAGR of 3.31%, from an estimated USD 581.1 Million in 2018.
This growth is primarily attributed to the increasing emphasis on renewable resources, control & monitoring systems, industrial automation, electric vehicles, and increasing use of energy storage machines.
The report segments the current transducer market, by technology, into open loop and closed loop. The closed-loop segment is expected to have the largest market share by 2023. Closed-loop current transducers are costlier than open-loop current transducer, and they are technologically advanced, thereby attributing to the high market share during the forecast period.
The current transducer market, by application, is segmented into motor drive, battery management, SMPS & UPS, converter & inverter, and others. The converter & inverter segment is projected to be the fastest growing application segment during the forecast period. The adoption of renewable technology is driving the demand for the converter & inverter segment.
The current transducer market, by end-user, is segmented into industrial, automotive, renewable, residential & commercial, and others. The renewable industry is estimated to be the fastest growing market for current transducers, from 2018 to 2023. This market is driven by the rise in alternative energy programs in Europe, Asia Pacific, and North America.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Current Transducer Market, By Technology
7 Current Transducer Market, By Application
8 Current Transducer Market, By End User
9 Current Transducer Market, By Region
10 Competitive Landscape
11 Company Profiles
- CR Magnetic
- Veris Industries
- Texas Instrument
- Phoenix Contact
- Johnson Controls
- NK Technologies
- American Aerospace Control (CR)
For more information about this report visit https://www.researchandmarkets.com/research/tw7s66/global_current?w=4