#None #Market Growth #electric vehicles #Current Sensors

Current Sensor Market Expected to Surge to $7.61 Billion by 2032

The global current sensor market is on an upward trajectory, with estimates indicating a potential growth to $7.61 billion by 2032. This surge is driven primarily by the increasing adoption of electric vehicles (EVs), where precision in current measurement is paramount for the efficient operation of motor control units and battery management systems.

As the automotive sector transitions towards electrification, the demand for advanced current sensors is becoming more pronounced. Electric motors, which are at the heart of EV technology, require precise current measurements to ensure optimal functionality. According to a recent report by SkyQuest Technology Consulting, the market was valued at $3.52 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 10.1% from 2025 to 2032.

Market Dynamics

One of the predominant trends in the current sensor market is the shift towards non-invasive sensing technologies such as Hall Effect sensors. These sensors have gained traction due to their efficiency and reliability. An example of innovation in this space is the smart IVT sensing platform introduced by Melexis in August 2024. This platform includes Hall-effect MLX91230 alongside a Shunt interface MLX91231, achieving Automotive Safety Integrity Level (ASIL) C compliance, facilitating safety for various vehicle functions such as high-voltage charging systems and battery management.

Moreover, current sensors play a critical role in energy management systems. With the world’s ongoing shift towards green energy solutions, the necessity for these sensors in renewable energy setups is anticipated to grow significantly.

Recent Developments

Major Launches

In the competitive landscape, several companies are making strides to innovate within the current sensor market:

• - LEM, known for its expertise in electrical measurement, announced a hybrid supervising unit (HSU) in June 2025 designed for EV battery management. This unit combines shunt and open-loop Hall effect technologies to offer an affordable and robust battery management solution.
• - Asahi Kasei Microdevices Corporation (AKM) and Silicon Austria Labs GmbH (SAL) unveiled a proof of concept in April 2025 that combines a current sensor in a power module aimed at automotive applications, emphasizing lightweight construction paired with high performance.
• - At the CES 2025, Allegro MicroSystems, a prominent player in semiconductor manufacturing, showcased two new current sensor ICs: the ACS37030 and ACS37220, which focus on delivering precise current sensing in compact formats.

Major Challenges

Despite the promising growth, challenges prevail within the current sensor industry. Advanced sensors, such as Hall Effect and fluxgate models, while offering superior precision and safety, come with higher production costs that may hinder adoption, particularly in price-sensitive regions. Furthermore, these advanced systems often require intricate calibration processes for accuracy, adding to integration complexity and potentially lengthening installation timelines. Environmental factors such as electromagnetic interference can also introduce further calibration hurdles, complicating their deployment in smaller or budget-conscious applications.

Competitive Landscape

The key players in the current sensor market include:

• - Honeywell International Inc.
• - TDK Corporation
• - STMicroelectronics
• - TMURA Corporation
• - Infineon Technologies AG
• - LEM International SA
• - Allegro MicroSystems, Inc.
• - ROHM CO., LTD
• - Melexis
• - Omron Corporation

These companies are leveraging advancements such as magnetic and Hall effect sensing technologies, serving diverse markets from consumer electronics to automotive and renewable energy sectors, as global electrification accelerates.

Market Segmentation

The current sensor market can be categorized based on various segments including:

• - Offering Type: Isolated vs. non-isolated sensors
• - Current Sensing Method: Contact-based vs. contactless
• - Loop Type: Open-loop vs. closed-loop
• - Mounting Type: PCB-mounted vs. standalone
• - Measurement Range: Low, medium, and high current ranges
• - Output Type: Analog vs. digital
• - Application Areas: Includes BMS, power inverters, UPS systems, electric vehicle charging systems, and more.

In sectors such as automotive where safety and regulatory compliance are critical, the adoption of isolated current sensors remains vital for high-voltage applications.

Regional Insights

The North American market currently commands the largest share, bolstered by its sophisticated industrial framework, widespread EV adoption, and leading technological enterprises. As smart grids and renewable energy systems gain traction, demand for precise current measurement is expected to continue growing.

In contrast, the Asia Pacific region is poised for the highest growth rate, driven by urbanization, industrial expansion, and heightened EV adoption, particularly in China and India.

Europe is positioned as the second-largest market, emphasizing electric vehicles and renewable technologies as part of its sustainability initiatives. Meanwhile, the LAMEA region shows steadier growth, influenced by energy diversification in the Middle East and increased industrial automation in Brazil.

In conclusion, as we move towards a future where electrification becomes paramount, the current sensor market is projected to flourish, reflecting broader trends in energy management, automotive applications, and technological advancements.