Europe Current Sensor Market By Type (Open Loop and Close Loop), By Technology (Hall Effect, Current Transformer, Flux Gate and Others), By Output Type (Analog and Digital), By End User (Industrial, Automotive, Consumer Electronics, Telecommunication and Others), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Europe Current Sensor Market would witness market growth of 7.6% CAGR during the forecast period (2021-2027).
The current sensor is also known as a current transformer (CT), which is used to calculate the current flowing in a wire using a magnetic field to detect the current and generate a proportional output. Current sensors are used with DC and AC. Its application is in inverter circuits and motor driving circuits. They are utilized in several industries like telecommunication, automotive, and consumer electronics.
This region is expected to get dominated by the German industry during the forecast period. There is an increase in the installation of solar power panels by the German government. This step towards the adoption of renewable energy will witness considerable growth in the upcoming years, which will also lead to the current sensor market. For example, in February 2021, the German KfW Development Bank gave a huge amount for renewable energy projects.
Also, Europe is anticipated to acquire a significant growth rate from the telecom end-user segment in the future years. This is attributed to the increased penetration of 5G networks for catering to the demand for reliable internet connectivity and managing internet traffic. Due to this, the profitable growth opportunities in the market will get converted to higher revenue for the regional market.
The Germany market dominated the Europe Current Sensor Flux Gate Market by Country 2020, thereby, achieving a market value of $24.6 million by 2027. The UK market is exhibiting a CAGR of 7.6% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 9.1% during (2021 - 2027).
Based on Type, the market is segmented into Open Loop and Close Loop. Based on Technology, the market is segmented into Hall Effect, Current Transformer, Flux Gate and Others. Based on Output Type, the market is segmented into Analog and Digital. Based on End User, the market is segmented into Industrial, Automotive, Consumer Electronics, Telecommunication and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Current Sensor Market Size will Hit $2 Billion by 2027, at a CAGR of 8.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Melexis N.V. (Xtrion N.V.), Allegro Microsystems, Inc. (Sanken Electric Co., Ltd.), LEM International S.A., Honeywell International, Inc., TDK Corporation, Texas Instruments, Inc., Infineon Technologies AG, Asahi Kasei Corporation, Tamura Corporation, and Aceinna, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Open Loop
- Close Loop
- Hall Effect
- Current Transformer
- Flux Gate
By Output Type
By End User
- Consumer Electronics
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Melexis N.V. (Xtrion N.V.)
- Allegro Microsystems, Inc. (Sanken Electric Co., Ltd.)
- LEM International S.A.
- Honeywell International, Inc.
- TDK Corporation
- Texas Instruments, Inc.
- Infineon Technologies AG
- Asahi Kasei Corporation
- Tamura Corporation
- Aceinna, Inc.
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