According to Market Study Report, Current Transducer Market provides a comprehensive analysis of the Current Transducer Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, technological trends and emerging opportunities of global industry.This report also provides market landscape and market share information in the Current Transducer Market. An exclusive data offered in this report is collected by research and industry experts team.
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The Global Current Transducer Market is estimated at USD 581.1 Million in 2018 and is projected to grow at a CAGR of 3.31% to reach USD 683.7 Million by 2023. This report spread across 127 pages, profiling 13 companies and supported with 70 tables and 32 figures are now available in this research.
Top Key Players Profiled in the Current Transducer Market:
- CR Magnetic (US)
- NK Technologies (US)
- Veris Industries (US)
- Phoenix Contact (US)
“The converter & inverter segment is expected to be the fastest growing application segment by 2023.”
With regards to the application segment, the converter & inverter segment is expected to grow at the fastest CAGR during the forecast period. The major application of converters & inverters is to convert DC to AC power and vice versa. 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 conversion of power.
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“Asia Pacific is projected to be the largest market for current transducers during the forecast period.”
The Asia Pacific is projected to be the largest market for current transducers during the forecast period. The major driver for the current transducer market is the increasing adoption of renewable energy sources, electric vehicles, control & monitoring systems, and industrial automation. According to REN21, China has the highest renewable power installation across the globe for renewable energy sources in 2016 at 325 giga watts. China is also the largest market for electric vehicles due to different incentive schemes from the government of China to promote electric vehicles.
Breakdown of primary participants’ profile:
- By Company Type: Tier 3—100%,
- By Designation: C–Level—12%, Director Level—25%, Others—63%
- By Region: North America—25%, Europe—25%, Asia Pacific—50%