Rise in number of smart cities projects and rapidly increasing use of battery-powered and renewable energy applications propel Global Current Sensor Market at a CAGR of 7.58% during the forecast period 2024 to 2032

Market Research Future (MRFR) has published on the “Global Current Sensor Market."

A current sensor, also known as a current transducer or current transformer, is a device designed to measure the electric current flowing through a conductor. It's a fundamental component used in various applications to monitor and measure the current levels in electrical circuits. Current sensors are crucial for maintaining the safety, efficiency, and proper functioning of many electrical systems. They provide real-time data about current consumption, allowing for control and monitoring of devices and systems.

Market Research Future (MRFR) has published a cooked research report on the “Global Current Sensor market” that contains information from 2024 to 2032. The Current Sensor market is estimated to register a CAGR of 7.58 % during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Current Sensor market - Infineon Technologies, Honeywell International, Texas Instruments Incorporated, TAMURA Corporation, TDK Corporation, Allegro MicroSystems, LLC, LEM International SA, Eaton Corporation, Pulse Electronics, NK Technologies, Sensitec GmbH, Sensor Electronic Technology and Others.

Current Sensor Market Highlights

The global Current Sensor market is accounted for to register a CAGR of 7.58 % during the forecast period and is estimated to reach USD 3,871.8 million by 2032.

Cities are expanding quickly. The desire for expanding Internet and communication networks in cities to enhance operations has been pushed by the quick development of technology. A high demand for current sensors as well as smart sensors due to their capacity to monitor carbon emission levels has been created by increasing disposable incomes, the growing deployment of cloud technology, the advancements in automotive products, and the growing need for innovative solutions to handle the rising environmental pollution. The necessity for modern sensors in smart cities is supported by the growing urbanization. By 2050, approximately 86% of the developed world and 64% of the developing world, respectively, would be urbanized, according to UN forecasts. According to estimates, 60% of the world's population now lives within 5 kilometers of a city, which is a record-high number of people living in urban areas. Urban density is continuously rising as a result of cities' ongoing urbanization. To detect and avoid outages, current sensors can be used to track the movement of electricity throughout the power grid.

In order to improve grid efficiency, they can also be used to measure energy use. Traffic flow may be monitored using current sensors, which can help to ease congestion and improve traffic flow. In order to increase the effectiveness of these services, data about the use of public transport can also be collected using them. Modern sensors are a useful tool for enhancing the sustainability and efficiency of smart cities. They can aid in lowering energy use, enhancing traffic, and preserving water supplies. Current sensors are anticipated to play an increasingly significant role in these efforts as smart cities continue to evolve.

Segment Analysis

The global Current Sensor market has been segmented based on Loop, Sensing type, Technology Type, Current Range, Sales Channel, Application, End User.

Based on loop, the global Current Sensor market segmentation includes open loop and closed loop. The open loop segment held the majority share in 2022, contributing around ~63.4 % to the market revenue. Open Loop current sensors play a vital role in monitoring and controlling power generation and distribution as the world transitions to renewable energy sources such as solar and wind power.

Based on Sensing Type, the global Current Sensor market segmentation includes Direct Current Sensing and Indirect Current Sensing. Direct Current Sensing is anticipated to grow at the highest during the forecast period. The increasing focus on renewable energy is driving the demand for DC sensing technology, as DC sensors are used to monitor the current and voltage in renewable energy systems, such as solar panels and wind turbines, ensuring their optimal performance. Finally, the major strategic developments in the DC sensing market include R&D, new product launches, mergers and acquisitions, partnerships, and agreements.

Based on the Technology -Type, the global Current Sensor market segmentation includes Isolated Current Sensors and Non-isolated current sensors. By Technology type, isolated current sensors segment holds the majority market share in 2022 contributing 70.5 % of the market share. Isolated current sensors are widely used in safety-critical applications such as electric vehicles, industrial automation, and medical devices. The need for safety and reliability in these applications is driving the demand for isolated current sensors.

Based on current range, the global Current Sensor market segmentation includes Less than 100A, 100A-1000A, and more than 1000A. By current range, the Less than 100A segment holds the majority market share in 2022. users.

Based on Sale channel the global Current Sensor market segmentation includes online and offline. The offline segment holds the majority market share in 2022 as offline channels provide an opportunity for manufacturers and distributors to establish a direct, face-to-face connection with their customers, building trust and offering personalized solutions.

Based on Application, the global Current Sensor market segmentation includes Motor Drives, Converters & Inverters, UPS & SMPS, Generators, Battery Management, Electric Drives, Fast DC Chargers (EV), Overload Detection, Grid Infrastructure, and Automotive Power Trains.  The Automotive Power Trains application segment is experiencing rapid growth in the current sensor market due to several reasons. Firstly, the global shift towards electric and hybrid vehicles has led to an increased demand for precise current sensing solutions to optimize battery management and monitor electric motor performance.

Based on End User, the global Current Sensor market segmentation includes automotive, consumer electronics, industrial, healthcare, energy & power, aerospace & defense, and others. By End-User automotive segment holds the majority market share in 2022.

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of revenue, Asia-Pacific held the largest share in the Current Sensor market in 2022 and is expected to maintain its dominance during the forecast period. The increasing investments in the Aerospace and Defense sectors in APAC countries are driving the demand for current sensors. These sensors play a crucial role in ensuring the reliability and performance of critical systems in military aircraft, UAVs, spacecraft, and naval vessels. Moreover, the use of current sensing systems with Transimpedance Amplifiers (TIAs) in industrial applications in Korea is a significant driver for the current sensor market in the Asia-Pacific (APAC) region. These systems offer improved precision, efficiency, and safety, aligning with the evolving needs of industries in Korea and across APAC. As industries continue to prioritize accurate current measurement and data analysis, the market for current sensors with TIAs is expected to witness sustained growth and innovation throughout the region.

Europe's automotive industry has been quick to adapt to stringent emissions standards by embracing electric and hybrid vehicles. Current sensors play a pivotal role in these EVs, monitoring battery and motor performance, ensuring safety, and optimizing energy usage. Europe's commitment to renewable energy integration is also propelling the current sensor market forward. Substantial investments in wind and solar power require efficient and safe electrical current monitoring, where current sensors are indispensable.

The use of electric vehicles (EVs) is increasing in North America, and this has led to a rise in demand for current sensors. Current sensors are important for managing power electronics and battery systems in EVs, ensuring safety, efficiency, and optimal performance. To meet the growing demand, various market players, including major automotive manufacturers, sensing technology companies, and semiconductor manufacturers, have introduced new and advanced current sensor solutions tailored for the EV market. For instance, in November 2022, Melexis introduced two new automotive current sensors, the MLX91230 and the MLX91231, which offer access to shunt or Hall-type current sensor technologies.

The current sensor market in the Middle East and Africa (MEA) region is growing rapidly due to advancements in technology and the increasing reliance on precise electrical current measurement in various industries. Current sensors are used in applications such as industrial automation, renewable energy, transportation, and telecommunications to monitor and manage electrical currents for safe and efficient operation of systems.

The key drivers for the growth in demand for Current Sensor in South America are growing due to the rapid industrialization and automation across various sectors have propelled the demand for current sensors, which are vital for monitoring and controlling electrical currents in machinery and automation systems.

Key Findings of the Study

• The global Current Sensor market is expected to reach USD 3,871.8 million by 2032, at a CAGR of 7.58% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments and key market players in North America, making it the primary contributor to the market share.


• Based on loop, the open loop segment was attributed to holding the largest market in 2022, with an approximate market share of 66.2%.


• Infineon Technologies, Honeywell International, Texas Instruments Incorporated, TAMURA Corporation, TDK Corporation, Allegro MicroSystems, LLC, LEM International SA, Eaton Corporation, Pulse Electronics, NK Technologies, Sensitec GmbH, Sensor Electronic Technology and Others are the key market players.