Market Research Report
Hall-Effect Current Sensors
|Published by||Global Industry Analysts, Inc.||Product code||907223|
|Published||Content info||462 Pages
Delivery time: 1-2 business days
|Hall-Effect Current Sensors|
|Published: September 1, 2020||Content info: 462 Pages||
A Post-Pandemic Automation Boost Lies in Wait for Industries Worldwide. Hall-Effect Current Sensors to Reach $1.4 Billion
The global market for Hall-Effect Current Sensors is expected to decline by -8.4% in the year 2020 and thereafter recover and grow to reach a market size of US$1.4 billion by the year 2027, trailing a post COVID-19 CAGR of 6.7% over the analysis period 2020 through 2027. The first to recover from the pandemic induced economic crisis will be industrial automation technologies. Paradoxically, the manufacturing industry although worst affected with significant declines in plant CAPEX will nevertheless witness extreme pressure to re-start investments in industrial automation. Automation, digitalization & remote operations are vital for the industry to resiliently survive future pandemics & disruptions. Manufacturing companies although financially hurting will need to step up investments in industrial control & automation to ensure medium & long-term success. Sensors are primary elements for most technology products built today. They provide vital input to controllers and computer control systems that form the basis of automated functions. Application areas for sensors span simple switches and temperature sensing devices as a part of basic home appliances, to more sophisticated sensors in advanced manufacturing equipment and factory automation systems.
Automation of manufacturing and processing functions, increasing mechanization of agriculture, growing demand for automated functions in a range of manufactured goods, starting from electronic toys and video games to mobile phones and even automobiles will all lend traction to sensors market in the coming years. Changing customer demand plays a vital role in the sensors market, thus necessitating launch of new products as per market requirements. Current Sensors or Current Transformer (CT) sensors are devices that use magnetic field to detect and measure current flowing in a wire and generate proportional output. CT sensors are used with AC as well as DC current. CT sensors enable passive measurement of current without causing any interruption to circuit. Applications of CTs are numerous but they are commonly used for sub-metering for determining energy usage and for aiding facility regulation as they offer information on energy usage. The sensors enable facilities to control costs and increase energy use efficiency.
The Hall-effect phenomenon implies that current moving through conductor creates magnetic field and if such a conductor is placed inside another magnetic field, the magnetic field which the electrons moving inside the conductor produce interacts with the magnetic field on the outside, leading to movement of electrons to a single side in the conductor. A voltage is then created on the conductor, which is proportional to amount of current flowing through it. It is possible to measure amount of this current. Hall-effect sensors therefore detect and measure position, speed and proximity because of their capability of sensing magnetic fields. These are non-contact sensors that measure both AC and DC currents. There are no moving parts in Hall-effect sensors owing to which they are considered more durable and robust compared to reed switches. Some of the other benefits offered by Hall-effect Sensors include low power consumption, simplicity in design and operation, reliability, compact size, distance sensing, true solid state, versatility, operation with zero speed or stationary input, input & output that is logic compatible, and capability of operating in a wide temperature range of -40 degrees C to +150 degrees C. Industrial automation is forecast to account for the prominent share of the global hall-effect current sensor market due to increasing requirement for current management. These sensors are extensively employed in a broad array of systems and applications including solar panel tracking, solar inverters, robots, motor current sensing, conveyor belts, machinery, cranes, escalators and smart metering. On the other hand, automotive is estimated to witness the fastest revenue growth in the coming years owing to increasing applications of hall-effect sensors for current control, battery management and other areas. The industry segment is slated to be propelled by rising integration of advanced electronics in vehicles for controlling diverse functions like opening and closing of windows, doors and fuel lid. In addition, the market is poised to gain from growing popularity of electric vehicles and the need for hall-effect sensors for various functions. Consumer electronics and telecommunication are estimated to emerge as promising application areas for hall-effect sensors. These devices are anticipated to find increasing use in consumer electronic devices as a component of navigation equipment intended to identify real-time location of devices.
Competitors identified in this market include, among others,