Current Sensor Market worth $5.41 billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., March 17, 2025 /PRNewswire/ -- The global current sensor market is expected to be valued at USD 3.24 billion in 2025 and is projected to reach USD 5.41 billion by 2030; it is expected to grow at a CAGR of 10.8% from 2025 to 2030 according to a new report by MarketsandMarkets™. The current sensor market is driven by the growing demand for battery-powered systems and the growing emphasis on renewable energy, with an enhanced requirement for power-monitoring technologies that are efficient. The growing demand from the consumer electronics sector are also contributing to growth in the market. Moreover, the tremendous upsurge in the manufacturing of hybrid and electric vehicles is further accelerating the demand for high-precision current sensing technology.

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Current Sensor Market Report Scope:

 The report also includes descriptions of various current sensing technologies such as magnetic current sensors, current sensing amplifiers, opto-isolated operational amplifiers, and shunt isolated operational amplifiers. The non-contact measurement and high precision of Hall-effect and flux gate magnetic sensors are predominant. Shunt-based and amplifier-based solutions, however, are gaining prominence in precision applications like industrial automation, energy management, and car power distribution.

The contact-based sensing segment to contribute significant share during the forecast period.

In 2024, contact-based sensing segment dominated the current sensor market based on current sensing method due to its high accuracy, cost-effectiveness, and wide range of applications across various industries, primarily automotive, industrial, and consumer electronics. Rising demand of current sensors in battery management systems (BMS) in electric vehicles (EVs) and hybrid electric vehicles (HEVs) has significantly contributed to the growing demand for contact-based sensors because they support proper battery performance and energy usage tracking. Industrial automation and power electronics markets also highly depend on shunt-based current sensing for motor control, energy metering, and power distribution units (PDUs), where precise current measurement is essential. Low cost and ease of integration with respect to the far more complicated non-contact variants are only reasons they continue to enjoy such domination in the market. As developments proceed with further minimization and highly accurate shunting technology, such sensors remain the preferred solution to applications that demand precise and accurate current sensing across low power as well as high-power systems.

Industrial segment to exhibit second-highest growth rate in current sensor market during the forecast period.

The industrial sector to maintain the second-largest CAGR in the current sensor industry as a result of the escalating use of automation, robots, and energy-efficient devices in manufacturing and industrial plants. As the importance of Industry 4.0 and intelligent manufacturing gains prominence, need for accurate current sensing solutions has intensified to provide effective power management, motor control, and predictive maintenance in industrial equipment. Current sensors are utilized to monitor and maximize the efficiency of conveyor systems, motors, and pumps in order to save energy and downtime. Increasing utilization of renewable sources of energy like solar and wind power for use in industrial applications have also caused increased usage of current sensors in energy storage, conversion, and distribution systems. The increasing use of industrial Internet-of-Things (IIoT) and real-time monitoring technologies also stimulates demand for existing sensors, which allows manufacturers to optimize operational efficiency and avoid electrical failures. Additionally, the common use of power electronics in industry, including variable frequency drives (VFDs), inverters, and power supplies, remains a key factor in the usage of advanced current sensing technologies. With industries becoming more focused on automation, energy saving, and equipment reliability, the industrial segment is expected to grow substantially in the current sensor market during the forecast period.

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Asia Pacific is expected to grow significantly throughout the forecast period.

In 2024, the Asia Pacific accounted for the highest share in the market of current sensors. The regional growth is led by the strong industrial base, high-tech development, and extensive use of consumer electronics and electric vehicles (EVs). The region is generating tremendous demand for next-generation sensors in motor controllers, charging stations, and battery management systems (BMS). In addition, the growing consumer electronics market in the region with demand for smartphones, laptops, wearables, and smart household appliances has further increased demand for affordable current sensing solutions for enhancing power consumption and extending battery life. These nations like China, Japan, South Korea, and India are becoming leading markets for automobile manufacturing, especially in hybrid and EV segments. Growth in systems of renewable energy, especially solar and wind, has also contributed to market growth with energy storage systems and grid connection needing accurate measurement of current. Industrial automation, deployment of 5G, and smart manufacturing initiatives by the government have also contributed to the use of current sensors in power electronics, industrial motor control, and telecommunication infrastructure. With a robust manufacturing base, increasing investments in emerging technologies, and increasing trends of electrification, Asia Pacific remains the leader in the global current sensor market.

Key Players

The current sensor companies includes significant Tier I and II players such Asahi Kasei Corporation (Japan), Infineon Technologies AG (Germany), Allegro MicroSystems, Inc. (US), LEM International SA (Switzerland), Melexis (Belgium), TDK Corporation (Japan), and Honeywell International Inc. (US), among others.

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