Pune, India, December 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Current Transducer Market.
The Global Market for Current Transducer is projected to be valued at USD 733.3 Million by 2025, with 3.26% CAGR during the forecast period, 2019–2025. Current transducer is a device that combines a current transformer with a signal conditioner into a single package for current monitoring or logging applications. The current transducer can also be classified into AC current transducer and DC current transducer.
GLOBAL CURRENT TRANSDUCER MARKET, 2019–2025
In 2018, Asia-Pacific dominated the global current transducer market in terms of share: MRFR
The market is segmented into five regions, namely Asia-Pacific, Europe, North America, Middle East & Africa, and South America. Asia-Pacific holds the largest market share and is the fastest growing region in the current transducer owing to increasing share of renewable energy is likely to boost the demand of current transducer as these devices facilitate proper coordination between PV systems, smart grids, and substations. Hence, increasing complexity in the grid system in the region would positively trigger the demand of current transducer market.
In Europe, Germany is expected to be the largest and the fastest growing country in the current transducer market owing to increasing share of renewable energy in the total energy mix. Moreover, At the end of 2017, there were about 1.6 million solar PV installations in Germany, producing about 43 GW of electricity. Thus, rising investments and the need to curb carbon emission in the county would drive the renewable energy market, ultimately driving the market for current transducer as it is important part of renewable energy generation.
In Middle East & Africa, Saudi Arabia, is projected to be the largest and the fastest growing country in the current transducer market due to fact that the Saudi government has many renewable projects in pipeline, including a 200 GW plant, which will be funded by Japan’s Softbank and Saudi Arabia’s Public Investment Fund. All these projects will also deploy current transducer for ensuring proper current standards.
In South America, Brazil is expected to be the largest and the fastest growing country in the current transducer market as Brazil is South America’s largest renewable market with continued investments expected in wind, which is expected to ultimately boost the demand for current transducer market.
The global current transducer market is segmented based on technology, application, and end use. By technology, the global market is segmented into closed loop and open loop. The closed loop segment is projected to be the largest market share in the global current transducer market. By application type, the global market is segmented as converter & inverter, motor drive, battery management, switched-mode power supply (SMPS) and uninterruptible power supply (UPS), and others. The converter & inverter segment is expected to hold the largest market share in the global current transducer market.
The Global Current Transducer Market is expected to grow at 3.26% CAGR during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global current transducer market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for South America, North America, the Middle East & Africa, Europe, and Asia-Pacific. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Current transducer market by technology, application, end-use, and region.
Access Report Details @ https://www.marketresearchfuture.com/reports/current-transducer-market-8619
The players operating in the Global Current Transducer Market are Johnson Controls (Ireland), ABB (Switzerland), CR Magnetic (US), Siemens (Germany), IME (Nepal), Phoenix Contact (US), NK Technologies (US), Veris Industries (US), American Aerospace Control (CR) (US), Topstek (Taiwan), Texas Instrument (US), Hobut (UK), and LEM (Switzerland).