Overview and Scope
A voltage transducer, also known as voltage sensor is an instrument that transforms a voltage of electricity into an electrical signal with a proportionate amplitude. It is essential for transforming electrical voltage to an equivalent electrical signal and is widely utilized in multiple applications, such as power measurement, control systems and others.
Sizing and Forecast
The voltage transducer market size has grown strongly in recent years. It will grow from $2.29 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to growing need for industrial automation, increasing energy management, increasing smart grid development, rise in telecommunications.
The voltage transducer market size is expected to see strong growth in the next few years. It will grow to $3.08 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to electric vehicle (ev) charging infrastructure, industrial internet of things (iiot), data center growth, increasing investments in research and development. Major trends in the forecast period include technological advancements, edge computing, advanced metering infrastructure (ami), demand response programs.
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Segmentation & Regional Insights
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
Top Major Players:
Siemens AG
Schneider Electric SHE
oneywell International Inc
ABB Ltd., Eaton Corp.
Emerson Electric Co
North America was the largest region in the voltage transducers market in 2023.
North America was the largest region in the voltage transducers market in 2023. The regions covered in voltage transducers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rise in electric vehicle adoption is expected to propel the growth of the voltage transducers market going forward. Electric vehicles are automobiles that consist of a motor that is powered by electricity stored in batteries. It operates on electric motors and charges its batteries with electricity rather. Voltage transducers are critical components that track and modify voltage levels at charging stations, ensuring the charging process remains safe and efficient by avoiding voltage fluctuations and potential grid damage. For instance, in May 2022, according to the International Energy Agency, a France-based independent intergovernmental organization, electric vehicle (EV) sales had nearly doubled from the previous year in 2021, reaching a new high of 10.2 million units in the year 2022. Additionally, the sales of electric car vehicles worldwide in 2023 are expected to be 14 million units representing a growth rate of 35%. Therefore, the rise in electric vehicle adoption will drive the voltage transducer market.
Key Industry Players
Major players 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.
The voltage transducer market report table of contents includes:
1. Executive Summary
2. Voltage Transducer Market Characteristics
3. Voltage Transducer Market Trends And Strategies
4. Voltage Transducer Market – Macro Economic Scenario
5. Global Voltage Transducer Market Size and Growth
…
32. Global Voltage Transducer Market Competitive Benchmarking
33. Global Voltage Transducer Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Voltage Transducer Market
35.Voltage Transducer Market Future Outlook and Potential Analysis
36. Appendix
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