AC Current Transducers Market overview:
The AC current transducer market is projected to grow at a significant pace reaching a CAGR of approximately XX %, over the forecast period of 2022–2028, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
The AC current transducer is a device used to convert electrical signals between alternating current and direct current. The output signal is converted into an analog or digital signal, which can be then read by a system controller.
The segment is divided into single function and multifunction. The single function is expected to grow at a significant rate due to the growing applications in solar, wind, biopower, hydropower projects, and others.
By region, the North American AC current transducer market is growing at a significant rate. The growth is attributed to the increasing regional demand for AC current transducer units in end-user industries such as energy utilities, automotive, and others. Moreover, countries such as Canada, the US, and Mexico are focusing on automation in the industrial sector to increase output. Thus, driving the AC current transducers market growth.
The study is consolidated into major segments and further into sub-segments, such as by Type (Single Function, Multi-Function), Application (Industrial Use, Commercial Use, Others), to forecast the market size by value; also includes the market analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including NK Technologies, Meco Instruments, Eltime Controls, Tsuruga Electric, Ohio Semitronics.
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