What Has Been The Evolution of the Voltage Transducer Market in Recent Years?
The voltage transducer market has seen considerable growth due to a variety of factors.
• The market size for voltage transducers has seen robust expansion in previous years. Its growth is projected to increase from a valuation of $2.44 billion in 2024 to about $2.6 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.6%.
The historical growth is attributable to increased requirements for industrial automation, enhanced energy management practices, the development of smart grids, and a surge in the telecommunications sector.
How Will the Voltage Transducer Market?
The voltage transducer market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for voltage transducers is anticipated to experience significant expansion in the upcoming years. It is projected to reach a value of $3.29 billion in 2029, with a compound annual growth rate (CAGR) of 6.0%.
The projected growth during the forecast period is associated with the rise of electric vehicle charging infrastructures, the industrial internet of things (iiot), the growth of data centers, and an increase in research and development investments. Key trends during the forecast period include developments in technology, edge computing, advanced metering infrastructure (ami), and demand response programs.
Which Factors Are Boosting Growth In The Voltage Transducer Market?
Anticipated growth in the uptake of electric vehicles is predicted to stimulate the expansion of the voltage transducers market. Electric vehicles are cars powered by electric motors, using electricity drawn from batteries. The electricity charges the batteries rather than powering the motor. Voltage transducers in these vehicles perform the key function of regulating and altering voltage levels at charging points, ensuring efficacy and security during the recharge process by avoiding potential grid damage due to voltage instability. An illustration of this emerging pattern is the data from the Internal Energy Agency, an autonomous intergovernmental organization based in France which noted that over 2.3 million electric vehicles were sold in Q1 of 2023, marking a 25% year-over-year increase. They also projected that by the end of 2023, the sales would escalate to 14 million, reflecting an annual growth rate of 35%, and a surge in growth during the second half of the year. Thus, the growth in the electric vehicle market will proportionally bolster the voltage transducer market.
Voltage Transducer Market Driver: Growing Use Of Solar Panels Propels The Voltage Transducers Market
What Key Areas Define The Segmentation Of The Global Voltage Transducer Market?
The voltage transducer market covered in this report is segmented –
1) By Type: Alternating Current (AC), Direct Current (DC)
2) By Application: Railway Applications, Solar Panels, Multi-Parameter, Power Plants, Industrial Machinery, Electric Vehicles, Data Centers
3) By End-User: Transportation, Energy And Utilities, Manufacturing, IT And Telecommunication
Subsegments:
1) By Alternating Current (AC): Voltage Transformer, Current Transformer, Capacitive Voltage Divider
2) By Direct Current (DC): Hall Effect Transducer, Shunt Resistor Based Transducer, Isolation Amplifier Based Transducer
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What Trends Are Shaping The Voltage Transducer Market?
Businesses within the voltage transducer sector are prioritizing the development of technologically advanced transducers, incorporating fluxgate technology, to reinforce their market standing. Fluxgate technology, a magnetic sensing tool, is used to gauge magnetic fields. As an illustration, in January 2022, Shenzhen Hangzhi Precision Electronics Co. Ltd., an establishment based in China that manufactures high-precision current sensors and measuring instruments, unveiled the Hangzhi HCV series high-precision voltage transducer. This is a voltage control and measuring device that is built on fluxgate technology. The voltage sensor, designed for industrial applications, can accurately detect DC, AC, pulse and various irregular voltages while maintaining perfect isolation between the primary and secondary sides. This advanced sensor finds its application in fields that demand superior sensitivity, stability and reliability, including metrological verification and calibration, rail transport, power quality monitoring, power analyzers, medical equipment, aerospace, and naval vessels.
Who Are the Key Players In The Voltage Transducer Market?
Major companies operating in the voltage transducer market are:
• Siemens AG
• Schneider Electric SE
• Honeywell International Inc.
• ABB Ltd.
• Eaton Corp.
• Emerson Electric Co.
• TE Connectivity Ltd.
• Analog Devices Inc.
• Digi-Key Electronics Corp.
• Phoenix Contact GmbH & Co. KG
• Yokogawa Electric Corporation
• Fluke Corporation
• LEM Holding SA
• Veris Industries LLC
• Ashcroft Inc.
• Dwyer Instruments Inc.
• Red Lion Controls Inc.
• NK Technologies
• Building Automation Products Inc.
• Acromag Inc.
• Magnelab Corporation
• Omron Automation Pvt. Ltd.
• Electro-Sensors Inc.
• Althen Sensors & Controls B.V.
• CR Magnetics Inc.
• Carlo Gavazzi Automation SpA
• Aim Dynamics Inc.
• Continental Control Systems LLC
• Darrah Electric Company.
What Is The Most Dominant Region In The Voltage Transducer Market?
North America was the largest region in the voltage transducers market in 2024. The regions covered in voltage transducers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
