Current Transducer Market Top Companies, Production, Growth Rate and Analysis, 2018-2023

The report "Current Transducer Market by Technology (Open Loop, Close Loop), Application (Motor Drive, Battery Management, UPS & SMPS, Converter & Inverter), End-User (Industrial, Renewables, Automotive, Residential & Commercial), and Region - Global Forecast to 2023" The current transducer market is expected to grow from an estimated USD 581.1 Million in 2018 to USD 683.7 Million by 2023, registering a CAGR of 3.31% during the forecast period. This growth is primarily due to the increasing emphasis on renewable resources, control & monitoring system, industrial automation, electric vehicle, and increasing use of energy storage machines.

Browse 70 market data Tables and 32 Figures spread through 127 Pages and in-depth TOC on "Current Transducer Market - Global Forecast to 2023"

The motor drive segment is expected to hold the largest share of the current transducer market, by application, during the forecast period

The motor drive segment led the current transducer market in 2017 and is projected to dominate the market during the forecast period. The motor drive segment has wide application in different industries. The motor drive is used for providing the alternating frequency and voltage to the electric motor. The current transducer in the drive is used to measure the current to be applied to the motor. Due to such an extensive application, the motor drive segment is estimated to lead the application segment of the current transducer market.

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Renewable industry is expected to be the fastest growing segment of the current transducer market

With regards to the end user segment, renewable is expected to constitute the fastest growing market from 2018 to 2023. The market is primarily driven by increasing investments in large-scale renewable power projects. The government in different countries worldwide are targeting to diversify the energy generation mix and reduce the emission of carbon and greenhouse gases. European countries climate & energy strategy of 20-20-20 is one of such example. China is leading the adoption of renewable installation across the globe to diversify its energy mix and reduce the carbon emission. The installation of renewable energy sources is expected to grow during the forecasted period attributing toward the growth of renewable energy.

Asia Pacific: The leading market for current transducers

In this report, the current transducer market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is expected to account for the largest market share in the global current transducer market in 2017. In the Asia Clean Energy Summit in Singapore, in 2017 it was noted that Southeast Asia is a suitable market for renewable energy development, as it holds a favorable climate for solar and wind energy generation. According to Bloomberg New Energy Finance, China is observed to be the highest investor in renewable energy and associated low-emissions-energy sectors by investing USD 103 billion in 2015, recording 17% growth year-on-year (Y-o-Y). The growth of renewable energy is also driving the market for energy storage The NITI AYOG has projected a battery market of USD 300 billion by 2017–2030 in India. In addition to this China is also leading the market toward the adoption of the electric vehicle in the country. To promote electric vehicles, the government of China is providing a subsidy of USD 15,000 on each electric vehicle. The investment and development in renewable, electric vehicle, energy storage, and industrial automation is driving the market for current transducers.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the current transducer market. These players include LEM (Switzerland), CR Magnetic (US), NK Technologies (US), Veris Industries (US), and Phoenix Contact (US). The leading players are trying to make inroads in the markets in the developed economies and are adopting various strategies to increase their market shares.

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Marine VFD Market Revenue to Hit $1,039 million by 2024

According to the new market research report "Marine VFD Market by Type (AC Drive, DC Drive), Voltage (Low Voltage (Up to 1 kV), Medium Voltage (Above 1 kV)), Application (Pump, Fan, Compressor, Propulsion / Thruster, Crane & Hoist) and Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Marine VFD Market is projected to reach USD 1,039 million by 2024 from an estimated USD 772 million in 2019, at a CAGR of 6.13% during the forecast period. This growth can be attributed to the rise in demand for energy efficiency.

The AC drive segment is expected to hold the largest share of the Marine VFD Market, by type, during the forecast period

The AC drive segment is estimated to dominate the Marine VFD Market in 2019 and is projected to have the largest market share during the forecast period.  This is because the use of an AC drive helps in energy savings, increases the life of rotating components, reduces the noise and vibration level, decreases mechanical stress on motor control applications, and enhances the overall process control.

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63 - Tables

34 - Figures

103 - Pages

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The medium voltage segment is expected to be the fastest growing Marine VFD Market, by voltage, during the forecast period

The medium voltage segment accounted for the highest CAGR during the forecast period. The use of these drives helps in improving efficiency, thereby reducing the overall operating cost. Furthermore, the medium voltage VFDs are estimated to save 40–60% of energy compared to motors running at full speed.

Asia Pacific: The leading Marine VFD Market

In this report, the Marine VFD Market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is estimated to dominate the global Marine VFD Market in 2019, owing to the presence of a large number of shipbuilding companies in China, Japan, and South Korea. Moreover, in the past few years, this region has witnessed rapid economic development as well as the growth in the maritime trade. The rise in seaborne trade has, subsequently, led to an increase in the demand for ships used to transport manufactured goods to various regions worldwide. Thus, the rise in the demand of ships is likely to drive the demand for marine VFDs in the Asia Pacific region.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Marine VFD Market. Some of the key players are ABB (Switzerland), GE (US), Eaton (Ireland), Rockwell Automation (US), Siemens (Germany), WEG (Brazil), and Danfoss (Denmark). The leading players are adopting various strategies to increase their share in the Marine VFD Market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Switchgear Market to Expand at a CAGR of 7.12%, Global Key Players, Trends, Share, Industry Size, Segmentation, and Forecast to 2022

The switchgear market is expected to grow at a CAGR of 7.12%, from 2017 to 2022, to reach a market size of USD 125.10 billion by 2022. Continuous growth of construction and development activities, increasing access to electricity in developing countries, and growth in renewable power generation projects are the major factors driving the market.

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The switchgear market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the switchgear market include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), EATON CORPORATION plc (Ireland), Alstom SA (France), Hitachi Ltd. (Japan), Schneider Electric SE (France), and Mitsubishi Electric Corporation (Japan) among others.

Browse 68 Market Data Tables and 51 Figures spread through 144 Pages and in-depth TOC on "Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022"

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Based on end-user, the transmission and distribution utilities are estimated to grow at the fastest rate during the forecast period. Increasing investments in sub-station automation, modernization of electric grid, and smart utilities are the major factors driving the growth of the transmission and distribution utilities segment of the switchgear market. Switchgear enhance protection by decreasing energy losses, due to poor operational efficiency of traditional equipment.

Based on region, the switchgear market in Asia-Pacific is projected to grow by the fastest rate during the forecast period. Increasing grid investments and plans for electrification in remote areas in countries, such as Vietnam, Indonesia, and the Philippines is likely to drive the growth of the switchgear market in the region during the forecast period. Rise in investments in smart grid technologies is also driving the switchgear market in Asia-Pacific.

Objectives of the study:

·         To define, describe, and forecast the global switchgear market by voltage, equipment, end-user and region

·         To provide detailed information on  major factors influencing the growth of the switchgear market (drivers, restraints, opportunities, and industry-specific challenges)

·         To strategically analyze the switchgear market with respect to individual growth trends, future prospects, and contribution of each segment to the market

·         To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders

·         To strategically profile key players and comprehensively analyze their market rankings and core competencies

·         To track and analyze competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the switchgear market 

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Aging power infrastructure, High Voltage Direct Current (HVDC) transmission networks, and upcoming smart cities are expected to create new opportunities for the switchgear companies. Moreover, governments in most of the countries are investing in renewable energy-based power generation to match up with the growing energy demand. All these factors is likely to drive the switchgear market during the forecast period.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

newsletter@marketsandmarkets.com