The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The voltage transducer market has experienced robust growth, expanding from $2.29 billion in 2023 to $2.44 billion in 2024, with a commendable compound annual growth rate (CAGR) of 6.8%. This growth surge is attributed to the growing need for industrial automation, increasing emphasis on energy management, the rise of smart grid development, and the expanding telecommunications sector.

Factors Driving Historic Growth

• Growing need for industrial automation
• Increasing focus on energy management
• Rise of smart grid development
• Expansion of the telecommunications sector

Future Projections: A Path to Continued Expansion

Expectations are high for the voltage transducer market, projected to reach $3.08 billion in 2028, with a CAGR of 6.0%. This anticipated growth is fueled by several factors, including the development of electric vehicle (EV) charging infrastructure, the surge in the Industrial Internet of Things (IIoT), the growth of data centers, and increased investments in research and development. Major trends in the forecast period encompass technological advancements, the rise of edge computing, the adoption of advanced metering infrastructure (AMI), and the implementation of demand response programs.

Trends Shaping the Future

• Technological advancements
• Rise of edge computing
• Adoption of advanced metering infrastructure (AMI)
• Implementation of demand response programs

Solar Panel Adoption Drives Market Growth

The increasing adoption of solar panels emerges as a key driver propelling the growth of the voltage transducer market. Solar panels, designed to convert sunlight into electricity, utilize voltage transducers to monitor the panels’ voltage output. This monitoring is crucial to prevent battery drainage through the panel when its voltage is less than that of the battery. In 2021, small-scale solar additions in the U.S. increased by 23%, reaching 5.4 GW, showcasing the growing prominence of solar energy. The residential sector, in particular, witnessed a remarkable 34% increase in installations.

Impact on Voltage Transducer Market

• Monitoring solar panel voltage output
• 23% increase in small-scale solar additions in the U.S. in 2021

Innovation in Voltage Transducers

Companies operating in the voltage transducer market are actively engaged in innovating advanced transducers, leveraging fluxgate technology to enhance their market positioning. Fluxgate technology, a magnetic sensing technology, is utilized to measure magnetic fields. For example, Shenzhen Hangzhi Precision Electronics Co. Ltd. released the Hangzhi HCV series high-precision voltage transducer in January 2022. This voltage sensor, based on fluxgate technology, offers high precision for measuring DC, AC, pulse, and different irregular voltages. Its applications span metrological verification, rail transportation, power quality monitoring, medical equipment, and more.

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Notable Innovations

• Utilization of fluxgate technology
• Precision measurement of various voltages

TE Connectivity Expands Capabilities Through Strategic Acquisition

In January 2023, TE Connectivity Ltd., a Switzerland-based firm specializing in connectors and sensors, acquired Kries Energietechnik GmbH & Co. kg for an undisclosed amount. This strategic move enhances TE’s power grid monitoring, protection, and automation technologies. Kries Energietechnik GmbH & Co. kg, a Germany-based manufacturer of power grid equipment, including voltage sensors, strengthens TE’s position in the power grid solutions domain.

Strategic Acquisition

• TE Connectivity acquires Kries Energietechnik
• Broadening power grid monitoring capabilities

Market Segmentation: Understanding Diversity

The voltage transducer market is comprehensively segmented based on type, application, and end-user, providing a detailed understanding of its dynamics.

Market Segmentation

1. Type:
   • Alternating Current (AC)
   • Direct Current (DC)
2. Application:
   • Railway Applications
   • Solar Panels
   • Multi-Parameter
   • Power Plants
   • Industrial Machinery
   • Electric Vehicles
   • Data Centers
3. End-User:
   • Transportation
   • Energy And Utilities
   • Manufacturing
   • IT And Telecommunication

Regional Dynamics: North America Takes the Lead

In 2023, North America emerged as the largest region in the voltage transducer market, showcasing its leadership role in shaping the industry. The region’s continued prominence underscores the growing significance of voltage transducers in the evolving technological landscape.

Regional Insights

• North America leads in 2023

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The Voltage Transducer Global Market Report 2023  provides an overview of the voltage transducer market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The voltage transducer market forecast analyzes voltage transducer market size, voltage transducer market share, leading competitor and their market positions.

The Table Of Content For The Voltage Transducer Market Include:
1. Voltage Transducer Market Executive Summary
2. Voltage Transducer Market Segments
3. Voltage Transducer Market Size And Voltage Transducer Market Growth Rate
4. Key Voltage Transducer Market Trends
5. Major Voltage Transducer Market Drivers
……
25. Key Mergers And Acquisitions In The Voltage Transducer Market
26. Top Voltage Transducer Companies
27. Voltage Transducer Market Opportunities And Strategies
28. Voltage Transducer Market, Conclusions And Recommendations
29. Appendix

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