Voltage Transducer Global Market Report 2024

The global voltage transducer market 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 global voltage transducer market 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.

The increasing adoption of electric vehicles is set to drive the growth of the voltage transducers market in the foreseeable future. Electric vehicles operate using motors powered by electricity stored in batteries, as opposed to internal combustion engines. Voltage transducers play a crucial role in regulating and monitoring voltage levels at charging stations, ensuring a safe and efficient charging process by preventing voltage fluctuations and potential damage to the grid. For instance, in May 2022, the International Energy Agency reported a nearly twofold increase in electric vehicle sales in 2021, reaching a record high of 10.2 million units. Furthermore, global electric car sales for 2023 are projected to reach 14 million units, marking a growth rate of 35%. Therefore, the surge in electric vehicle adoption will be a driving force for the voltage transducers market.

The increasing adoption of solar panels is set to drive the growth of the voltage transducers market in the foreseeable future. Solar panels are devices that convert sunlight into electrical energy, utilizing photovoltaic cells to capture solar radiation and produce power. Within solar panel systems, voltage transducers play a crucial role in monitoring the voltage output, ensuring optimal energy generation and preventing battery drainage when the panel voltage drops below that of the battery. For instance, in September 2022, the Energy Information Administration reported a 23% increase in small-scale solar additions in the U.S., reaching 5.4 GW in 2021, up from 4.4 GW in the previous year. Residential installations also saw a significant surge, rising by 34% to 3.9 GW from 2.9 GW in 2020. Consequently, the growing adoption of solar panels will be a driving factor for the voltage transducers market.year. Residential installations also saw a significant surge, rising by 34% to 3.9 GW from 2.9 GW in 2020. Therefore, the increasing adoption of solar panels will drive the voltage transducer market.

The escalating costs are anticipated to hinder the voltage transducers market in the future. A surge in the pricing of voltage transducers can potentially result in decreased demand and may prompt potential buyers to be more price-conscious. For instance, American Aerospace Controls, a U.S.-based manufacturer of AC & DC current and voltage transducers, offers an AC voltage transducer priced at $528. As such, the increasing costs are presenting a constraint to the voltage transducers market moving forward.

Market-leading companies are dedicated to pioneering cutting-edge voltage transducers, integrating fluxgate technology to bolster their competitive edge. Fluxgate technology, a form of magnetic sensing technology, is employed for precise measurement of magnetic fields. For example, in January 2022, Shenzhen Hangzhi Precision Electronics Co. Ltd., a China-based manufacturer specializing in high-precision current sensors and measuring instruments, introduced the Hangzhi HCV series high-precision voltage transducer. This component, built on fluxgate technology, serves as a voltage control and measurement tool. It excels in accurately detecting DC, AC, pulse, and various irregular voltages while ensuring perfect isolation between the primary and secondary sides. The device finds primary application in metrological verification, calibration, power quality monitoring, power analyzers, medical equipment, aerospace, naval vessels, and other sectors demanding exceptional sensitivity, stability, and reliability.

In January 2023, TE Connectivity Ltd., a Switzerland-based company specializing in the design and production of connectors and sensors, completed the acquisition of Kries Energietechnik GmbH & Co. kg. This strategic move aims to enhance TE's portfolio in power grid monitoring, protection, and automation technologies. Kries Energietechnik, headquartered in Germany, is a leading manufacturer of power grid equipment and solutions, notably renowned for its expertise in voltage sensors.

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.

North America was the largest region in the voltage transducers market in 2023. The regions covered in voltage transducers report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the voltage transducers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Voltage transducers come in two main types such as alternating current (AC) and direct current (DC). AC transducers handle currents that regularly change direction and intensity. They find applications in diverse sectors like railways, solar energy systems, multi-parameter setups, power generation facilities, industrial equipment, electric vehicles, and data centers. Their significance extends across transportation, energy, utilities, manufacturing, information technology, and telecommunications. These devices play a pivotal role in modern technology-driven industries.

This report provides voltage transducers market statistics, including voltage transducers industry global market size, regional shares, competitors with a voltage transducers market share, detailed voltage transducers market segments, market trends and opportunities and any further data you may need to thrive in the voltage transducers industry. This voltage transducers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The voltage transducers market consists of sales of resistive voltage transducers, inductive voltage transducers, circuit breaker, lightning arrester. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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