Global Current Transducers Market - Growth, Trends, and Forecast (Outlook to 2028)

 Current Transducers Drivers:

• Technological advancements and Improvements in the current transducer industry
• Increasing awareness of low carbon emissions and sustainable energy has led to the rise in private and government R&D Investments.
• Increasing adoption of renewable energy sources (solar and wind), electric vehicles, control & monitoring systems, and industrial automation.
• Increasing battery applications in electronics, vehicles, renewable energy, etc.
• Higher adoption in long-distance transfers for enhancing the signal will boost the market progression.
• High cost, time, and employees associated with production breakdown in the industrial sector

Definition and Types:

A transducer is an electrical device or sensor that converts energy from one form to another. Transducers that produce electrical signals are converted to and fro from other physical quantities (energy, force, torque, light, motion, position, etc.).Transducers are often used in automation, measurement, and control systems. 

The Current transducer is a passive device that converts alternating or direct electrical current signals into analog instrumentation signals. The current transducer applies high inductive current measurement in the regulation and control systems. The major functions of the current transducer are enhanced signal for distance transfer, isolated function, safety function, and conversion function.

The current transducers are divided into two types based on technology: closed-loop current transducers and open-loop current transducers.

• Closed-Loop Current Transducers: It offers high response time and linearity, produces less noise error, and high precision.
• Opened Loop Current Transducers offer high bandwidth, wide transmission capacity, and quick reaction time.

Benefits of Current Transducers:

• The power requirement of the transducer can be controlled with a very small level of power in the electrical system.
• Electrical signals can easily be amplified to the signal and can be brought up to a level suitable for various devices.
• The transducer's electrical output can be easily transmitted and easily processed for measurements.
• The signal can be conditioned or mixed with various signals. Still, the output of transducers controls signal noise level to provide accurate data and record it remotely in less time.
• Due to the integrated circuit (I.C) technology, the electrical and electronic system is compact, has less weight, and is portable.

Current Transducers Market Opportunities:

• Increasing demand for monitoring and control systems
• New product launches and R&D amongst major key players
• Rapid adoption of 5G technology increases demand
• The healthcare industry electronic devices such as MRI's, ventilators, and sphygmomanometers are anticipated to create significant growth opportunities for the current sensor market in the healthcare domain.
• Shift towards industrial automation has created numerous growth opportunities

Current Transducers Market Restraints:

•  Increasing use of integrated circuits.
• The current transducers can never be used as a secondary source of electricity due to their high voltage. They could damage the equipment. They could also emit electric shocks if handled haphazardly.
• The growth of the global current transducer market is expensive compared with resistive sensing.

In 2021, Open loop current transducer market was dominated due to its inherent advantages and growing demand from various sectors such as automobile,healthcare,aviation and defence, railways and consumer durables.

In 2021, the motor drive dominated the current transducer market due to its widespread usage in industries and to reduce production cost by controlling and frequency.

In 2021, the automotives and renewable energy markets dominated the current transducer market due to increasing investments , and strict government regulations to reduce carbon emissions as a result there is diversification for power generation in solar and wind energy etc.

In 2021, Asia Pacific dominated the current transducer market due to high population, massive demand for electronics devices, increasing investments on electric vehicles and renewable energy.

Blackridge Research's Global Current Transducers Market report provides insights into the current global and regional market demand scenario and its outlook.

The study presents a detailed analysis of various factors that affect current transducer market revenue. The study also comprehensively analyses the supercapacitor market by segmenting it based on geography (North America, Europe, South America, Asia Pacific, Middle East, Rest of the World), based on current (dc current transducers, ac current transducers), based on technology (Open-loop, Closed-loop), based on application (converters and inverters, motor drives, battery management systems, and others), based on end-use (telecommunications, industrial, commercial, residential, renewables, transportation, automotive and others).

The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the current transducer market, critical commercial developments, trends, regions, and segments poised for the fastest-growing, competitive landscape.

Further, the report will include the global current transducer market size (CAGR), market forecast, growth rates, and trade (imports and exports).