Current Sensor Market is Estimated to Reach USD 7.61 Billion by 2032 | SkyQuest Technology Consulting

The rise of electric vehicles (EVs) is one of the main factors driving the current sensor market. As the automotive industry transitions to electrification, there is a greater need for precise current measurement in motor control units and battery management systems. Additionally, accurate current measurement supports the efficient operation of electric motors, which are crucial components of EVs. The demand for advanced sensors is expected to continue to rise as EV adoption increases globally.

WESTFORD, Mass., Sept. 2, 2025 /PRNewswire/ -- SkyQuest Technology Consulting published a report, titled, Current Sensor Market- Global Opportunity Analysis and Industry Forecast, 2025-2032", valued at USD 3.52 Billion in 2024. With a projected CAGR of 10.1% from 2025 to 2032, the market is expected to reach USD 7.61 Billion by the end of 2032. This growth is attributable to the expansion of renewable energy source.

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Current Sensor Market Dynamics:

Businesses are shifting to non-invasive sensing technologies like Hall Effect sensors; the current sensor market is growing quickly. For instance, in August 2024, the smart IVT sensing platform from Melexis, which consists of the Hall-effect MLX91230 and Shunt interface MLX91231, obtained Automotive Safety Integrity Level (ASIL) C safety compliance. This solution simplifies ISO 26262 ASIL C compliance for a number of critical vehicle functions, including high-voltage charging systems, smart pyro fuses, and battery management systems.

The effective functioning of energy storage systems, which are critical for balancing supply and demand in renewable energy setups, also requires current sensors. As the world moves toward greener energy solutions, it is expected that the demand for current sensors in this sector will rise sharply.

Recent Developments in Current Sensor Market

• In June 2025, LEM, a renowned name in the electrical measurement space announced the launch of a new current sensing unit for battery management in electric vehicles (EVs). The novel hybrid supervising unit (HSU) combines shunt and open-loop Hall effect technologies to offer low cost and highest safety level in EV battery management systems.
• In April 2025, Asahi Kasei Microdevices Corporation (AKM) and Silicon Austria Labs GmbH (SAL) announced the completion of a new proof concept that integrates current sensor into a power module. The new solution is designed to be used in automotive applications while being lightweight and high-performance.
• In January 2025, Allegro MicroSystems, a leading manufacturer of high-performance semiconductors launched two new current sensor ICs namely the ACS37030 and ACS37220 at the CES 2025 event. The new sensors are designed to deliver precise current sensing in smaller form factors without compromising on electrical isolation or performance.

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Major Challenges in Current Sensor Industry

Advanced sensors like Hall Effect and fluxgate offer high precision and safety, but because of their higher production costs, they are not as affordable for price-sensitive industries or regions. Furthermore, the complexity of integration and calibration may present challenges. Advanced sensors often require careful calibration to ensure accuracy, and their integration into existing systems can be challenging and time-consuming. This could lead to longer deployment times and more expensive installation.

Furthermore, additional adjustments may be required due to various environmental factors like temperature and electromagnetic interference, increasing the overall complexity and cost. These elements might make it more difficult for the product to be adopted in smaller-scale or budget-conscious applications.

Competitive Landscape:

Among the leading companies in the market are Honeywell International Inc., Allegro MicroSystems, Inc., TDK Corporation, STMicroelectronics, TAMURA Corporation, Infineon Technologies AG, LEM International SA, ROHM CO., LTD, Melexis, and Omron Corporation. These companies serve a range of markets in the consumer electronics, automotive, industrial automation, and renewable energy sectors by utilizing advancements in magnetic, shunt, and Hall effect sensing technologies. Accurate and efficient current measurement solutions are becoming more and more necessary as a result of factors like the rapid electrification of cars, the expansion of renewable energy installations, and the integration of IoT devices across industries.

The major players in the Current Sensor industry include,

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

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Current Sensor Market Segmentation:

The global current sensor market is segmented by offering, current sensing method, loop type, mounting type, measurement range, output type, application, industry vertical, distribution channel and region. Based on offering, the market is classified into Isolated current sensors and non-isolated current sensors. Depending on current sensing method, it is divided into contact-based, current sensing, and contactless sensing. According to loop type, the market is categorized into open-loop sensors and closed-loop sensors. As per mounting type, it is segregated into PCB-mounted, standalone module, and DIN rail-mounted. By measurement range, the market is fragmented into low (Less than 10A), medium (10A to 100A) and high (Above 100A). On the basis of output type, it is bifurcated into analog and digital. Based on the application, the market is fragmented into battery management systems (BMS), power inverters, ups systems, motor control, overcurrent protection, smart meters & energy monitoring, electric vehicle charging systems, and renewable energy systems. According to industry vertical, the market is segregated into automotive, consumer electronics, telecom & networking, healthcare, industrial, and energy & power. Based on Distribution Channel, the market is segmented into direct sales and indirect sales.

• By offering, in battery-powered systems such as automobiles and industrial automation, isolated current sensors are essential for providing galvanic isolation, which guarantees signal fidelity and safety in high-voltage applications.
• By current sensing method, the contact-based sensing is advised because of its precision and affordability. These sensors are more prevalent than non-contact ones in battery management systems (BMS) for electric and hybrid vehicles.
• By loop type, due to their portability, low power consumption, and suitability for power monitoring and renewable energy applications, open-loop sensors currently hold a larger market share.
• By mounting type, even without granular data, PCB-mounted sensors will be the most common in 2024 due to their simplicity of integration and small size in consumer electronics and Internet of Things devices.
• By measurement range, the most popular medium-current range (10A–100A) satisfies standard requirements in electric vehicles, UPS systems, industrial motors, and energy monitoring settings.
• By output type, the market is dominated by analog output sensors because they provide continuous, real-time current feedback, which is crucial for accuracy in power electronics and motor control.
• By application, due to the increasing electrification of transportation and industrial machinery, motor drive applications, particularly in EVs and hybrid vehicles, hold the largest revenue share.
• By industry vertical, due to the high demand for safety systems, battery management, and current monitoring systems in electric powertrains, the automotive industry vertical is the largest end-user market.
• By distribution channel, by providing OEMs in the automotive, industrial, and power sectors with technical support, customization, and integration services, sensor manufacturers continue to control the market through direct sales.

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Regional Insights 

North America currently holds the largest market share due to its well-developed existing industrial structure, a high level of EV adoption, and strong technology companies. The region's increasing emphasis on smart grids, energy efficient systems, and renewable energy will also increase the demand for accurate current measurement.

Why Sales of Current Sensors are High in the United States?

High demand for advanced electronics, renewable energy systems, and electric mobility solutions are helping boost current sensor adoption in the country. Current sensors are being extensively used in renewable energy sources, such as solar and wind to enhance safety and performance. High adoption of industrial automation, smart manufacturing, and robotics in the United States is also predicted to increase the reliance on current sensors. Boom in sales of electric vehicles is also slated to promote the demand for current sensors. Essential role of current sensor in monitoring, controlling, and protecting advanced electrical systems is also predicted to boost revenue generation for current sensor companies in the country through 2032 and beyond.

The Asia Pacific current sensor market is expected to grow at the fastest rate due to rapid urbanization, industrialization, and rising EV adoption, especially in China and India. The region's strong manufacturing sector and government programs to promote smart grid and renewable energy technologies will increase the demand for efficient current sensing solutions.

Europe accounts for the second-largest market share as its government promotes growth in electric vehicles, renewable energy, and smart grid technologies. The region's move toward decarbonization and sustainable energy transition will drive greater demand for sophisticated sensors.

The LAMEA steady growth in the current sensor market in 2024 is supported by an energy diversification in the middle east, infrastructure spending in Africa, and Brazil's growing industrial automation. Increasing EV adoption also influenced regional demand.

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