“Hall-Effect current sensor market expected to grow at a significant rate between 2017 and 2023”
The Hall-Effect current sensor market is expected to grow at a CAGR of 8.4% between 2017 and 2023 and would be worth USD 1,473.7 million by 2023. The key factors driving the growth of the Hall-Effect current sensor market are the development strategies implemented by the players operating in the Hall-Effect current sensors, such as contracts and agreements, product developments, partnerships, and expansions; growing demand for intelligent Hall-Effect sensors, continuous technological advancements in Hall-Effect current sensors, growing use of fully integrated and programmable current sensors, and advantage of galvanic isolation-based Hall-Effect current sensors. However, the major restraining factors for the growth of this market are demand for low-cost Hall-Effect current sensors.
“Open-loop current sensor expected to hold a larger share of the Hall-Effect current sensor market during the forecast period”
The open-loop current sensor is expected to hold a larger share of the overall Hall-Effect current sensor market owing to its applications in the automotive industry for current control, protection of devices from overcurrent, and power management applications including control of motor drives, converter control, overcurrent protection, and battery management. Moreover, the demand for open-loop current sensors has increased due to its features including compact size, AC/DC and impulse current measurement, low power consumption, large primary aperture, and high level of electric isolation between primary and secondary circuits.
“Industrial automation industry expected to hold the largest share of the overall Hall-Effect current sensor market in 2017”
The growing need for current measurement has created a demand for Hall-Effect current sensors. In industries, current sensors are used in in solar inverters, solar panel tracking, motor current sensing, robots, machinery, conveyor belts, escalators, moving cranes, and even in smart metering. In numerous brushless DC motors, sensors are used where changing loads need to be monitored and managed. Owing to these applications, the industrial automation industry is expected to hold the largest share of the overall Hall-Effect current sensor market.
“Hall-Effect current sensor market in Asia Pacific expected to grow at the highest rate during the forecast period”
The Hall-Effect current sensor market in Asia Pacific (APAC) is expected to grow at the fastest rate between 2017 and 2023. The Hall-Effect current sensor market in emerging economies such as China, India, South Korea, and Japan is expected to grow at the highest rate with the rising need for power management and growing applications in the automotive, industrial automation, and consumer electronics industries. China, Japan, and South Korea are the major countries driving the growth of the Hall-Effect current sensor market in APAC. The governments of these countries are encouraging investments from foreign players mainly in the industrial automation, automotive, and consumer electronics industries.
The break-up of the profiles of primary participants for the report has been given below.
- By Company: Tier 1 – 45%, Tier 2 – 30%, and Tier 3 – 25%
- By Designation: C-Level Executives – 40% and Managers – 60%
- By Region: Americas – 30%, Europe – 20%, APAC – 35%, and RoW – 15%.
The key players operating in the Hall-Effect current sensor market ABB Ltd (Switzerland), Honeywell International, Inc. (US), STMicroelectronics N.V. (Switzerland), Allegro MicroSystems LLC (US), Asahi Kasei Microdevice Corporation (Japan), Infineon Technologies AG (Germany), Melexis NV (Belgium), LEM Holding SA (Switzerland), TDK Corporation (Japan), and Kohshin Electric Corporation (Japan), VACUUMSCHMELZE GmbH & Co. KG (Germany), American Aerospace Controls (US), ELECTROHMS PRIVATE LIMITED (India), KOHSHIN ELECTRIC CORPORATION (Japan), NK Technologies (US), Pulse Electronics (US), NXP Semiconductors (Netherlands), HARTING Technology Group (Germany), Telcon Ltd (UK), Magnesensor Technology (MST) (US), Vishay Intertechnology, Inc. ((US), and Measurlogic, Inc. (US).
In this research report, the Hall-Effect current sensor market is segmented on the basis of output, technology, type, industry, and geography. The market has been segmented based on type into open-loop current sensor and closed-loop current sensor. Based on technology, the Hall-Effect current sensor market has been classified into BiCMOS and CMOS technology. Based on output, the market has been classified into linear and threshold output current sensor. The market has been segmented by industry into industrial automation, automotive, consumer electronics, aerospace & defense, medical, railways, telecommunication, and utilities.
Key Benefits of Buying the Report:
- Illustrative segmentation, analysis, and forecast for the market based on type, technology, output, industry, and geography have been provided to present an overall view of the Hall-Effect current sensor market.
- The value chain analysis is provided for in-depth insight into the Hall-Effect current sensor market.
- The major drivers, restraints, opportunities, and challenges for the Hall-Effect current sensor market have been detailed in this report.
- The report includes a detailed competitive landscape, in-depth DIVE analysis, and revenue of the key players.