Dublin, Dec. 04, 2018 (GLOBE NEWSWIRE) -- The "Current Transducer Market by Technology, Application, End-User, and 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 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 power generated through renewable sources are either stored or transferred to grid; in both the processes, converters & inverters are required for the conversion of power. The growth of renewable energy sources across the globe is driving the market 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.
In this report, the current transducer market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Key Topics Covered:
1 Introducton
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumption
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Current Transducer Market
4.2 Current Transducer Market, By Technology
4.3 Current Transducer Market, By Application
4.4 Current Transducer Market, By End-User
4.5 Asia Pacific Current Transducer Market: Technology & Country
4.6 Current Transducer Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Use of Battery-Powered Application and Renewable Energy
5.2.1.2 Technological Advancements in Current Transducer
5.2.1.3 High Cost Associated With Production Breakdown in the Industrial Segment
5.2.2 Restraints
5.2.2.1 Increasing Use of the Integrated Product
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Eco-Friendly Electric and Hybrid Vehicles
5.2.3.2 Rising Demand for Control and Monitoring System Owing to Urbanization and Industrialization
6 Current Transducer Market, By Technology
6.1 Introduction
6.2 Closed Loop
6.3 Open Loop
7 Current Transducer Market, By Application
7.1 Introduction
7.2 Motor Drive
7.3 Converter & Inverter
7.4 Battery Management
7.5 UPS and SMPS
7.6 Others
8 Current Transducer Market, By End User
8.1 Introduction
8.2 Industrial
8.2.1 Telecommunication
8.2.2 Machinery
8.2.3 Medical Equipment
8.2.4 Paper & Textile
8.2.5 Others
8.3 Commercial & Residential
8.4 Renewable Energy
8.5 Transportation & Automotive
8.6 Others
9 Current Transducer Market, By Region
9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.2 India
9.2.3 South Korea
9.2.4 Japan
9.2.5 Australia
9.2.6 Rest of Asia Pacific
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 Spain
9.3.5 France
9.3.6 Russia
9.3.7 Rest of Europe
9.4 North America
9.4.1 US
9.4.2 Canada
9.4.3 Mexico
9.5 South America
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Egypt
9.6.6 Rest of Middle East & Africa
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking of Players and Industry Concentration, 2017
10.3 Competitive Scenario
10.3.1 New Product Launches
10.3.2 Contracts & Agreements
11 Company Profiles
- ABB
- American Aerospace Control (CR)
- CR Magnetic
- Hobut
- IME
- Johnson Controls
- LEM
- NK Technologies
- Phoenix Contact
- Siemens
- Texas Instrument
- Topstek
- Veris Industries
For more information about this report visit https://www.researchandmarkets.com/research/g62czk/683_million?w=12
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