Global Industrial Current Sensor Market 2017-2021

The infographic below contains key findings from our analysis of the industrial current sensor market

Want a bigger picture? Try a FREE sample of this report now!

See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.

Overview of the global industrial current sensor market

The global industrial current sensor market forecast predicts the market to grow at a CAGR of around 10% by 2021. The easy integration of current sensors is identified as one of the primary industrial current sensor market drivers. Current sensors are small and easy to integrate into any equipment. The deployment of current sensors, eliminates the need for industries to install additional devices to measure current since these sensors are sufficient to calculate and regulate current efficiently. Moreover, no additional space is required for mounting many devices on an equipment and these sensors can also be mounted easily on an equipment placed in remote areas of industries without changing the existing infrastructure. Current sensors are also easily switchable from one version to another. This makes it appropriate for end-users to retain their existing infrastructure or processes and seamlessly accommodate any current sensor available in the market into their operations.

In terms of geographic regions, APAC will be the major industrial current sensor market revenue contributor throughout the forecast period. The increased power requirement by numerous small and medium enterprises and the rising demand for electronic goods in the region will result in the extensive use of current sensors. The growth of the automotive industry due to the high demand for automobiles will also drive the adoption of current sensors in APAC during the next four years.

Competitive landscape and key vendors  

The industrial current sensor market consists of various regional and international players who manufacture cost-effective and innovative technology equipment. Several players in the market are offering different versions of current sensors that can be easily mounted on numerous equipment to carry out several industrial applications. To enter the market and establish a better network, manufacturers are concentrating on the development of current sensors that are highly safe and compatible and can be easily used by end-users. Moreover, the vendors in this marketspace are also increasingly focusing on manufacturing low-cost sensors.

According to the industrial current sensor market analysis, the leading vendors in the market are -

• Honeywell
• Infineon Technologies
• Eaton
• Allegro Microsystems

The other prominent vendors in the market are Shenzhen Socan Technology, Pewatron, VACUUMSCHMELZE, VPInstruments, DENT Instruments, and J&D.

Get more value with Technavio’s INSIGHTS subscription platform! Gain easy access to all of Technavio’s reports, along with on-demand services. Try the demo

Segmentation by product type and analysis of the industrial current sensor market

• Closed-loop sensors
• Open-loop sensors

During 2016, the closed-loop sensors accounted for the major industrial current sensor market share. The exceptional operating feature of these sensors during fluctuating current conditions and their ability to measure high DC or AC currents will contribute to the growth of this industry segment in the coming years.

Segmentation by technology and analysis of the industrial current sensor market

• Hall-effect
• Inductive

This industrial current sensor market research estimates that the hall-effect technology segment accounted for the maximum shares of the industrial current sensor market during 2016.  This segment will retain its market lead in the coming years as well due to the implementation of innovative technology, easy installation, and the use of galvanic isolation principle. 

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global industrial current sensor market?
• What are the key market trends impacting the growth of the global industrial current sensor market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial current sensor market?
• What are the market opportunities and threats faced by the vendors in the global industrial current sensor market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global industrial current sensor market?

Want to dial in on a specific region or segment? We can help! Our analysts can customize this market research report to meet your requirements. Get in touch