Current Transducer Market Strategy And Remarkable Growth Rate By 2026 | Fortune Business Insights

(The Express Wire via Comtex)

Top Players in Current Transducer Market are ABB, LEM, Johnson Controls, NK Technologies, Veris, Texas Instruments, Phoenix Group, IME, Siemens, CR Magnetic, Honeywell, Infineon, Allegro, Hobut, and Melexis

Increasing use of AI in the automotive industry is a key factor driving the current transducer market, says Fortune Business Insights in a report, titled “Current Transducer Market Size, Share and Global Trend by Technology (Open Loop, Closed Loop), By Application (Inverter and Converter, UPS and SMPS, Battery management, Motor Drive, Others), By End-user (Industrial, Renewable, Automotive, Residential and Commercial, Others) and Geography Forecast till 2026.” The growing adoption of renewable sources of energy will aid the growth of the market.

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/current-transducer-market-101083

As per the report, on the basis of technology, the global current transducer market is segmented into an open loop and closed loop. The open-loop segment is predicted to account for maximum share in the market owing to the rising demand for open loops in different sectors such as aviation and defense, therapeutic, automobile, railways, and consumer durable will stimulate the growth of the segment. The high bandwidth, wide transmission capacity, and quick reaction time will further stimulate the growth of the segment. On the basis of application, the market is segmented into the inverter and converter, UPS and SMPS, battery management, motor drive, and others. The motor drive is expected to witness huge growth during the forecast period owing to its extensive use in various industries

Key Market Driver Increasing demand for electric vehicles and consumer durables

Key Market Restraint Current transducer is expansive

Some of The Major Companies In The Global Current Transducer Market Are:

  • ABB
  • LEM
  • Johnson Controls
  • NK Technologies
  • Veris
  • Texas Instruments
  • Phoenix Group
  • IME
  • Siemens
  • CR Magnetic
  • Honeywell
  • Infineon
  • Allegro
  • Hobut
  • Melexis

Request a Sample Copy of the Global Market Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/current-transducer-market-101083

The report shares an understanding of the recent market trends and industrial developments in the current transducer market. It offers dynamic insights and provides relevant data, assisting investors and companies to benefit in the long run.

Increasing Wind and Solar Energy Demand Will Boost Growth

The growing awareness regarding carbon emissions is expected to aid the growth of the market. The increasing adoption of electric vehicles around the world is expected to create growth opportunities for the market. The growing use of industrial automation by industries to increase productivity is likely to enable the growth of the market. The rising population and surge in the purchasing power of people will fuel demand for consumer durable goods. The rising shift towards renewable sources of energy such as solar and wind energy to meet energy demand will encourage the growth of the market. Furthermore, the announcement of a manufacturing plant in Pune is expected to accelerate the growth of the market. For instance,Chinese consumer durable company Midea is going to set up a manufacturing plant in Pune. The investment made by the company is Rs 1350 Cr. This new manufacturing plant will help to increase the production of the home appliance, HVAC products, and compressors.

In addition, Hyderabad based, a new startup PURE-EV has raised venture capital funding of $35 million for the production of high speed and long-range scooters and motorcycles. This shows a positive outlook for the current transducer market. The venture capital raised by PURE-EV will encourage the growth of the market

Key Industry Developments

  • In Nov 2018, Chinese consumer durable company Midea is going to set up a manufacturing plant in Pune. The investment made by the company is Rs 1350 Cr. This new manufacturing plant will help to increase the production of the home appliance, HVAC products, and compressors. This shows positive outlook for the current transducer market.
  • In July 2019, BME has announced that to begin manufacturing of new electric mini at its British factory. This growth in the electric vehicle market help to enhance the current transducer market.
  • In July 2019, Hyderabad based a new startup PURE-EV has raised venture capital funding of $35 million for the production of high speed and long-range scooters and motorcycles. This shows a positive outlook for current transducer market.

Increasing Adoption of renewable resources Will Support Growth in Asia Pacific

Asia Pacific is expected to dominate the market owing to the rising population, which contributes to the demand for electronics devices, including household appliances. The increasing adoption of renewable resources such as solar energy, wind energy, and others to meet energy needs. In Europe, the increasing investment for renewable sources of energy to curb the carbon emission will aid growth in the region. In North America, the market is predicted to grow significantly owing to big companies such as Tesla, who is investing more in an electric vehicle. The increasing investment in renewable sources of energy to curb carbon emission and RandD activities for the development of advanced automation systems for industries will further stimulate growth in North America.

Ask for customization https://www.fortunebusinessinsights.com/enquiry/customization/current-transducer-market-101083

Major Table of Content ForCurrent TransducerMarket:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Current Transducer Market Analysis, Insights and Forecast, 2026
  6. North America Current Transducer Market Analysis, Insights and Forecast, 2026
  7. Europe Current Transducer Market Analysis, Insights and Forecast, 2026
  8. Asia Pacific Current Transducer Market Analysis, Insights and Forecast, 2026
  9. The Middle East and Africa Current Transducer Market Analysis, Insights and Forecast, 2026
  10. Latin America Current Transducer Market Analysis, Insights and Forecast, 2026
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

View Related Reports:

Hydraulic Fracturing Market Size Worth to Reach USD 71.72 Billion by 2026; Increasing Consumption of Oil and Gas to Fuel Growth

VFD (Variable Frequency Drive) Market Worth $25.19 Billion By 2026; High Demand for Energy-efficient Systems to Boost Growth

Digital Oilfield Market Size To Reach USD 34.58 Billion by 2026 as Companies Increasingly Focus on Collaborations to Bring Digital Transformation in Oil and Gas Industry

About Us
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245

Email:[email protected]

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Current Transducer Market Strategy And Remarkable Growth Rate By 2026 | Fortune Business Insights