APAC Current Sensor Market size is anticipated to reach USD 1 billion by 2026, according to a latest forecast report by Graphical Research.
The Asia Pacific current sensor industry is gaining traction with increasing storage requirements in various industries such as IT & Telecom and education. The proliferation of consumer interest toward online services and the growing e-governance projects in the region will drive the data centers demand, providing opportunities to current sensor manufacturers. This has driven several governments to introduce new policies regarding the development of data centers in the region. In November 2020, The Ministry of Electronics, and Information Technology (MeitY), India introduced a new data center policy to accelerate infrastructure status and boost the investments in data centers.
The hall effect segment is estimated to witness over 7% CAGR between 2020 and 2026. These sensors offer high accuracy, wide frequency bandwidth, and linearity, reducing the current consumption in devices. The continuous development in hall effect current sensors will accelerate their demand in the coming years. In March 2020, Allegro Microsystems developed a standalone hall-based coreless current sensor, which measures currents from 200 A to >1,000 A.
The consumer electronics segment is projected to register a growth of over 4% till 2026. The growth is credited to the increasing deployment of current sensors in various electronic products including washing machines, microwave ovens, and vacuum cleaners to advance electronic devices such as laptops, tablets, and smartphones. The increasing government policies & initiatives to accelerate the manufacturing sector in countries, such as China, India, and South Korea, driving the market growth.
Browse detailed statistical insights from the report, “Asia Pacific Current Sensor Market Size By Technology (Hall Effect, Shunt, Fluxgate, Magneto Resistive), By Type (Closed Loop, Open Loop), By End Use (Automotive, Consumer Electronics, Industrial, Healthcare, Telecommunication), By Application (Motor Drive, Converter & Inverter, Battery Management, Uninterrupted Power Supply (UPS) & Switched-Mode Power Supply (SMPS)), Research Report, Country Outlook (China, India, Japan, South Korea, Australia), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 - 2026” along with the table of contents (ToC) @
The Japan current sensor market accounted for over 25% revenue share in 2019 and is set to observe around 5.5% growth rate through 2026 driven by rising adoption of rolling stocks, such as high-speed rails, bullet trains, and locomotives freight rail cars, in the region. These mobility systems are witnessing the increasing adoption of traction motors, electric propulsion, traction systems, and transformers, driving the demand for current sensors. The presence of various current sensor manufacturers including TAMURA Corporation, KOHSHIN Electric Corporation, and HIOKI E.E. Corporation, and emerging foundries in the country is propelling the market expansion.
Key players operating in the market are majorly focusing on new product launches to deliver technically-advanced products and gain highly competitive edge. For instance, in February 2019, Asahi Kasei Microdevices Corporation announced the development of its new CZ-3A0x series coreless current sensor to deliver creepage distance and improved clearance greater than 8 mm. Some of the major players operating in the market are Allegro Microsystems, LLC., Honeywell International Inc, Infineon Technologies AG, Omron Corporation, and Littelfuse, Inc.
The APAC current sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026 for the following segments:
Asia Pacific Market, By Type
Asia Pacific Market, By Technology
Asia Pacific Market, By Application
- Motor drive
- Converter & inverter
- Battery management
- UPS & SMPS
Asia Pacific Market, By End-use
- Consumer electronics
The above information has been provided for the following countries:
- Asia Pacific
- South Korea