AC Current Transducers Market overview:
The AC Current Transducers 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 market 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.
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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 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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