1 / 6

Current Sensor Market Value – Global Industry Trends, Analysis, Research Report

Current Sensor Market is poised to record significant growth from 2023 to 2032 owing to the increasing use of renewable energy for electricity generation.

Vijay35
Download Presentation

Current Sensor Market Value – Global Industry Trends, Analysis, Research Report

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Current Sensor Market Value – Global Industry Trends, Analysis, Research and Forecast 2023 – 2032 Fuel Cell Market size worth $25.5bn by 2024

  2. KeyInsights from Current Sensor Market: • Global Current Sensor Market is poised to record significant growth from 2023 to 2032 owing to the increasing use of renewable energy for electricity generation. Renewable energy is clean, economical, and infinite, with wind and solar energy being commonly used to generate power. Growing environmental concerns, coupled with a tremendous rise in global energy consumption, have fostered the adoption of renewable energy sources. Furthermore, the growing use of renewable energy in several nations will promote the growth of Hall effect technology in the present sensor industry. • An increasing number of government programs and investments focused on promoting the sales of EVs for environmental preservation will provide new development prospects to the current sensor market.

  3. Continued... • Citing an instance, in May 2022, Continental, a prominent manufacturer of automotive parts, expanded its sensor line by introducing two new sensors for electric vehicles: the Current Sensor Module and the Battery Impact Detection system. Both new systems will focus on battery protection and/or battery parameter preservation. • The current sensor industry is segmented based on type, application, end-use, and region. • By type, the open-loop current sensor market gained significant momentum in 2022 and is poised to grow at more than 8% CAGR through 2032. The segment growth can be credited to the increased usage of this device to detect AC and DC currents without needing a feedback control loop. Open-loop current sensors are lightweight and compact, require minimal energy to operate, and consume power steadily. Such features are projected to increase their acceptance in a variety of applications, thus, driving segment growth in the long run.

  4. Browse key industry insights spread across 265 pages with 1281 market data tables & figures from the report, “Current Sensor Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/current-sensor-market Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/4120

  5. Continued... • The current sensor market from the battery management application segment accounted for a sizeable revenue share in 2022. High demand for electric cars is expected to drive the market's steady expansion through 2032. Battery management helps keep track of both the EV battery's charge and its overall health. In addition, it regulates the current supply to prevent overcharging and enforces maximum charge or discharge current limits based on temperature. Battery management is also utilized in electric charging stations to check battery status in real-time and prevent an explosion which is likely to supplement segment growth. • North America current sensor market is estimated to amass USD 3 billion by the end of 2032. Businesses across North America are rapidly adopting modern technologies and are inclining toward integrating AI and IoT technologies across the automotive sector. The market is foreseen to grow rapidly owing to the rising product demand across industrial and automotive sectors that require enhanced automated solutions such as driverless/autonomous cars, IoT-connected cars, and electric/hybrid vehicles.

  6. Stay In Touch Website: www.gminsights.com Social Media:

More Related