Market Overview:
The global industrial current sensor market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for industrial automation, automotive, consumer electronics, telecommunication and utilities applications. Closed-loop sensors are expected to dominate the market during the forecast period owing to their high accuracy and reliability in measuring current values. Asia Pacific is expected to be the fastest growing region during the forecast period due to rising demand for industrial automation in countries such as China and India.
Product Definition:
An industrial current sensor is a device that is used to measure the current flowing through a particular circuit. This information can be used to monitor the efficiency of the system, identify problems, and make adjustments as needed. The importance of industrial current sensors lies in their ability to provide accurate measurements in real-time, which can help improve overall system performance.
Closed-loop Sensors:
Closed-loop sensors are used to measure the current or voltage in a loop. It is an instrument that can be used to test the quality of electrical power by using two wires, one of which is connected to the source and other ends are connected into two different devices. The device or equipment that is tested must have loadable batteries so as to provide power for testing purposes.
Open-loop Sensors:
Open-loop sensors are used to measure the current or voltage and they do not have any feedback mechanism. The sensor is usually a two-terminal device that provides information by responding to an applied signal. Open-loop sensors can be single channel or multi-channel devices, which respond only to the type of chemical, physical, or biological stimulus indicated by its name.
Application Insights:
The industrial automation segment accounted for the largest revenue share in 2017 and is projected to continue its dominance over the forecast period. Industrial automation solutions require a variety of sensors that can detect moving parts with high accuracy, which enables effective machine operation. The growing adoption of open-loop sensors in industrial applications is one of the major factors driving their demand worldwide. These are used as they offer higher resolution than traditional closed-loop systems at a lower cost per unit area and have an operational life expectancy similar to or longer than that of mechanical relays.
The automotive application segment is expected to witness significant growth over the forecast period owing to rising demand from microcontrollers, ADAS, safety systems and ECUs among others for vehicle stability control, powertrain control and monitoring & telematics applications respectively.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid growth in industrial automation, which is one of the key application areas for current sensors. This can be attributed to increasing investments by governments in developing countries such as China and India for modernizing their manufacturing sector with latest technologies. Moreover, rising demand from end-use industries such as automotive and consumer electronics is anticipated to drive regional growth over the forecast period.
The European market also held a significant share of global revenue owing to early adoption of various sensor technologies across different applications including HVAC & refrigeration, transportation, process monitoring etc., especially within manufacturing sectors. However, factors such as economic slowdown post-Global Recession (GFC) coupled with stringent government regulations regarding energy consumption are expected to hamper regional growth during future years.
Growth Factors:
- Increasing demand for industrial automation across different industries is expected to drive the growth of the industrial current sensor market.
- Growing awareness about energy conservation is also anticipated to fuel the demand for industrial current sensors in the near future.
- Rising adoption of IoT and big data analytics in various industries is projected to create new opportunities for the growth of this market during the forecast period.
- The increasing trend of miniaturization in electronics is also expected to boost demand for industrial current sensors over the next few years. 5) Technological advancements are likely to provide impetus to growth of this market during forecast period
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Current Sensor Market Research Report
By Type
Closed-loop Sensors, Open-loop Sensors
By Application
Industrial Automation, Automotive, Consumer Electronics, Telecommunication, Utilities
By Companies
Honeywell, Infineon Technologies, Eaton, ABB, STMicroelectronics, Allegro MicroSystems, Asahi Kasei, ROHM Co.,ltd., Melexis, HIOKI, Honeywell, Magnelab
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
170
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Current Sensor Market Report Segments:
The global Industrial Current Sensor market is segmented on the basis of:
Types
Closed-loop Sensors, Open-loop Sensors
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Industrial Automation, Automotive, Consumer Electronics, Telecommunication, Utilities
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Honeywell
- Infineon Technologies
- Eaton
- ABB
- STMicroelectronics
- Allegro MicroSystems
- Asahi Kasei
- ROHM Co.,ltd.
- Melexis
- HIOKI
- Honeywell
- Magnelab
Highlights of The Industrial Current Sensor Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Closed-loop Sensors
- Open-loop Sensors
- By Application:
- Industrial Automation
- Automotive
- Consumer Electronics
- Telecommunication
- Utilities
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Current Sensor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An industrial current sensor is a device that measures the flow of electric currents in an industrial setting. These sensors are often used to monitor the power supply in factories and other large, automated facilities.
Some of the major players in the industrial current sensor market are Honeywell, Infineon Technologies, Eaton, ABB, STMicroelectronics, Allegro MicroSystems, Asahi Kasei, ROHM Co.,ltd., Melexis, HIOKI, Honeywell, Magnelab.
The industrial current sensor market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Current Sensor Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial Current Sensor Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Current Sensor Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial Current Sensor Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial Current Sensor Market Size & Forecast, 2020-2028
4.5.1 Industrial Current Sensor Market Size and Y-o-Y Growth
4.5.2 Industrial Current Sensor Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Closed-loop Sensors
5.2.2 Open-loop Sensors
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Industrial Automation
6.2.2 Automotive
6.2.3 Consumer Electronics
6.2.4 Telecommunication
6.2.5 Utilities
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial Current Sensor Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Industrial Current Sensor Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Closed-loop Sensors
9.6.2 Open-loop Sensors
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Industrial Automation
9.10.2 Automotive
9.10.3 Consumer Electronics
9.10.4 Telecommunication
9.10.5 Utilities
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Closed-loop Sensors
10.6.2 Open-loop Sensors
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Industrial Automation
10.10.2 Automotive
10.10.3 Consumer Electronics
10.10.4 Telecommunication
10.10.5 Utilities
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Closed-loop Sensors
11.6.2 Open-loop Sensors
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Industrial Automation
11.10.2 Automotive
11.10.3 Consumer Electronics
11.10.4 Telecommunication
11.10.5 Utilities
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Closed-loop Sensors
12.6.2 Open-loop Sensors
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Industrial Automation
12.10.2 Automotive
12.10.3 Consumer Electronics
12.10.4 Telecommunication
12.10.5 Utilities
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Closed-loop Sensors
13.6.2 Open-loop Sensors
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Industrial Automation
13.10.2 Automotive
13.10.3 Consumer Electronics
13.10.4 Telecommunication
13.10.5 Utilities
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Industrial Current Sensor Market: Competitive Dashboard
14.2 Global Industrial Current Sensor Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Honeywell
14.3.2 Infineon Technologies
14.3.3 Eaton
14.3.4 ABB
14.3.5 STMicroelectronics
14.3.6 Allegro MicroSystems
14.3.7 Asahi Kasei
14.3.8 ROHM Co.,ltd.
14.3.9 Melexis
14.3.10 HIOKI
14.3.11 Honeywell
14.3.12 Magnelab
