Magnetic Current Sensor Market Size, Share, Trends, Industry Analysis Report By Type (Hall-Effect, Flux Gate Current Sensors, XMR Technologies), By Loop Type, By Industry, By Region

Description

List of Tables

The global magnetic current sensors market size is expected to reach USD 6.07 billion by 2034, according to a new study by Polaris Market Research. The report "Magnetic Current Sensor Market Size, Share, Trends, Industry Analysis Report By Type (Hall-Effect, Flux Gate Current Sensors, XMR Technologies), By Loop Type, By Industry, By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Magnetic current sensors are essential devices that precisely measure electric current by detecting the magnetic field it produces, then converting this information into an electrical signal. They are widely used to monitor the flow of electricity in various systems without making direct contact with the circuit, which offers benefits such as electrical isolation and enhanced safety. These sensors are vital in applications that require accurate, reliable, and often compact current measurement for efficient operation and protection.

The magnetic current sensor market is experiencing significant growth driven by several factors across various industries. The increasing adoption of electric vehicles and the expansion of renewable energy systems, such as solar and wind power installations, are major drivers as these technologies heavily rely on precise current monitoring for efficiency and safety. Additionally, the ongoing advancements in industrial automation and the proliferation of electronic devices across consumer and commercial sectors are consistently increasing the demand for these sensors. This continuous technological development and diverse application landscape contribute to a positive outlook for the market.

Magnetic Current Sensor Market Report Highlights

By type, the hall-effect segment held the largest share in 2024 due to its established reliability, cost-effectiveness, and versatility in measuring both AC and DC currents without direct contact. These characteristics make them a preferred choice across various applications, including automotive and consumer electronics.

By loop type, the open-loop segment held the largest share in 2024, mainly because of its simpler design, lower cost, and reduced power consumption. Its ability to accurately measure both AC and DC currents, along with galvanic isolation, makes it suitable for a wide array of applications where extreme precision is not the primary requirement.

By industry, the automotive segment held the largest share in 2024, driven by the increasing integration of magnetic current sensors in electric and hybrid electric vehicles for critical functions such as battery management systems and motor control.

By region, Asia Pacific held the largest share in 2024, largely due to its robust manufacturing base, significant production of consumer electronics, and rapid adoption of electric vehicles. North America represents a significant region in the magnetic current sensor market, driven by its robust automotive sector and advancements in industrial automation.

A few key players in the market include Allegro MicroSystems, Inc.; Infineon Technologies AG; TDK Corporation; Asahi Kasei Corporation (AKM Semiconductor, Inc.); LEM International SA; Melexis; Honeywell International Inc.; Texas Instruments Incorporated; TAMURA Corporation; Sensitec GmbH; Littelfuse, Inc.; and Monolithic Power Systems, Inc.

Polaris Market Research has segmented the magnetic current sensor market report on the basis of type, loop type, industry, and region:

By Type Outlook (Revenue - USD Billion, 2020-2034)

Hall-Effect

Flux Gate Current Sensors

XMR Technologies

By Loop Type Outlook (Revenue - USD Billion, 2020-2034)

Open-Loop

Closed-Loop

By Industry Outlook (Revenue - USD Billion, 2020-2034)

Automotive

Consumer Electronics

Telecom & Networking

Healthcare

Industrial

Energy & Power

Others

By Regional Outlook (Revenue - USD Billion, 2020-2034)

North America

U.S.

Canada

Europe

Germany

France

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Vietnam

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of Middle East & Africa

Latin America

Mexico

Brazil

Argentina

Rest of Latin America

Product Code: PM6021

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Source
- 3.2.1. Primary Source
- 3.2.2. Secondary Source

4. Global Magnetic Current Sensor Market Insights

4.1. Magnetic Current Sensor Market - Market Snapshot
4.2. Magnetic Current Sensor Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Increasing Demand for Electric Vehicles
  - 4.2.1.2. Growth in Renewable Energy Installations
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. Susceptibility to external magnetic interference
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Magnetic Current Sensor Market Application Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Magnetic Current Sensor Market, by Type

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
5.3. Hall-Effect
- 5.3.1. Global Magnetic Current Sensor Market, by Hall-Effect, by Region, 2020-2034 (USD Billion)
5.4. Flux Gate Current Sensors
- 5.4.1. Global Magnetic Current Sensor Market, by Flux Gate Current Sensors, by Region, 2020-2034 (USD Billion)
5.5. XMR Technologies
- 5.5.1. Global Magnetic Current Sensor Market, by XMR Technologies, by Region, 2020-2034 (USD Billion)

6. Global Magnetic Current Sensor Market, by Loop Type

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
6.3. Open-Loop
- 6.3.1. Global Magnetic Current Sensor Market, by Open-Loop, by Region, 2020-2034 (USD Billion)
6.4. Closed-Loop
- 6.4.1. Global Magnetic Current Sensor Market, by Closed-Loop, by Region, 2020-2034 (USD Billion)

7. Global Magnetic Current Sensor Market, by Industry

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
7.3. Automotive
- 7.3.1. Global Magnetic Current Sensor Market, by Automotive, by Region, 2020-2034 (USD Billion)
7.4. Consumer Electronics
- 7.4.1. Global Magnetic Current Sensor Market, by Consumer Electronics, by Region, 2020-2034 (USD Billion)
7.5. Telecom & Networking
- 7.5.1. Global Magnetic Current Sensor Market, by Telecom & Networking, by Region, 2020-2034 (USD Billion)
7.6. Healthcare
- 7.6.1. Global Magnetic Current Sensor Market, by Healthcare, by Region, 2020-2034 (USD Billion)
7.7. Industrial
- 7.7.1. Global Magnetic Current Sensor Market, by Industrial, by Region, 2020-2034 (USD Billion)
7.8. Energy & Power
- 7.8.1. Global Magnetic Current Sensor Market, by Energy & Power, by Region, 2020-2034 (USD Billion)
7.9. Others
- 7.9.1. Global Magnetic Current Sensor Market, by Others, by Region, 2020-2034 (USD Billion)

8. Global Magnetic Current Sensor Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Magnetic Current Sensor Market Assessment, By Geography, 2020-2034 (USD Billion)
8.3. Magnetic Current Sensor Market - North America
- 8.3.1. North America: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
- 8.3.2. North America: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
- 8.3.3. North America: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.3.4. Magnetic Current Sensor Market - U.S.
  - 8.3.4.1. U.S.: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.3.4.2. U.S.: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.3.4.3. U.S.: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.3.5. Magnetic Current Sensor Market - Canada
  - 8.3.5.1. Canada: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.3.5.2. Canada: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.3.5.3. Canada: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
8.4. Magnetic Current Sensor Market - Europe
- 8.4.1. Europe: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
- 8.4.2. Europe: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
- 8.4.3. Europe: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.4.4. Magnetic Current Sensor Market - UK
  - 8.4.4.1. UK: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.4.4.2. UK: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.4.4.3. UK: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.4.5. Magnetic Current Sensor Market - France
  - 8.4.5.1. France: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.4.5.2. France: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.4.5.3. France: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.4.6. Magnetic Current Sensor Market - Germany
  - 8.4.6.1. Germany: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.4.6.2. Germany: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.4.6.3. Germany: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.4.7. Magnetic Current Sensor Market - Italy
  - 8.4.7.1. Italy: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.4.7.2. Italy: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.4.7.3. Italy: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.4.8. Magnetic Current Sensor Market - Spain
  - 8.4.8.1. Spain: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.4.8.2. Spain: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.4.8.3. Spain: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.4.9. Magnetic Current Sensor Market - Netherlands
  - 8.4.9.1. Netherlands: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.4.9.2. Netherlands: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.4.9.3. Netherlands: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.4.10. Magnetic Current Sensor Market - Russia
  - 8.4.10.1. Russia: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.4.10.2. Russia: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.4.10.3. Russia: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.4.11. Magnetic Current Sensor Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.4.11.2. Rest of Europe: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.4.11.3. Rest of Europe: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
8.5. Magnetic Current Sensor Market - Asia Pacific
- 8.5.1. Asia Pacific: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
- 8.5.2. Asia Pacific: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
- 8.5.3. Asia Pacific: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.5.4. Magnetic Current Sensor Market - China
  - 8.5.4.1. China: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.5.4.2. China: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.5.4.3. China: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.5.5. Magnetic Current Sensor Market - India
  - 8.5.5.1. India: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.5.5.2. India: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.5.5.3. India: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.5.6. Magnetic Current Sensor Market - Malaysia
  - 8.5.6.1. Malaysia: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.5.6.2. Malaysia: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.5.6.3. Malaysia: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.5.7. Magnetic Current Sensor Market - Japan
  - 8.5.7.1. Japan: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.5.7.2. Japan: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.5.7.3. Japan: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.5.8. Magnetic Current Sensor Market - Indonesia
  - 8.5.8.1. Indonesia: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.5.8.2. Indonesia: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.5.8.3. Indonesia: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.5.9. Magnetic Current Sensor Market - South Korea
  - 8.5.9.1. South Korea: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.5.9.2. South Korea: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.5.9.3. South Korea: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.5.10. Magnetic Current Sensor Market - Australia
  - 8.5.10.1. Australia: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.5.10.2. Australia: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.5.10.3. Australia: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.5.11. Magnetic Current Sensor Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.5.11.2. Rest of Asia Pacific: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.5.11.3. Rest of Asia Pacific: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
8.6. Magnetic Current Sensor Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
- 8.6.2. Middle East & Africa: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
- 8.6.3. Middle East & Africa: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.6.4. Magnetic Current Sensor Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.6.4.2. Saudi Arabia: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.6.4.3. Saudi Arabia: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.6.5. Magnetic Current Sensor Market - UAE
  - 8.6.5.1. UAE: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.6.5.2. UAE: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.6.5.3. UAE: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.6.6. Magnetic Current Sensor Market - Israel
  - 8.6.6.1. Israel: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.6.6.2. Israel: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.6.6.3. Israel: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.6.7. Magnetic Current Sensor Market - South Africa
  - 8.6.7.1. South Africa: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.6.7.2. South Africa: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.6.7.3. South Africa: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.6.8. Magnetic Current Sensor Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.6.8.2. Rest of Middle East & Africa: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.6.8.3. Rest of Middle East & Africa: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
8.7. Magnetic Current Sensor Market - Latin America
- 8.7.1. Latin America: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
- 8.7.2. Latin America: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
- 8.7.3. Latin America: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.7.4. Magnetic Current Sensor Market - Mexico
  - 8.7.4.1. Mexico: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.7.4.2. Mexico: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.7.4.3. Mexico: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.7.5. Magnetic Current Sensor Market - Brazil
  - 8.7.5.1. Brazil: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.7.5.2. Brazil: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.7.5.3. Brazil: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.7.6. Magnetic Current Sensor Market - Argentina
  - 8.7.6.1. Argentina: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.7.6.2. Argentina: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.7.6.3. Argentina: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)
- 8.7.7. Magnetic Current Sensor Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Magnetic Current Sensor Market, by Type, 2020-2034 (USD Billion)
  - 8.7.7.2. Rest of Latin America: Magnetic Current Sensor Market, by Loop Type, 2020-2034 (USD Billion)
  - 8.7.7.3. Rest of Latin America: Magnetic Current Sensor Market, by Industry, 2020-2034 (USD Billion)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. Allegro MicroSystems, Inc.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
10.2. Asahi Kasei Corporation (AKM Semiconductor, Inc.)
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
10.3. Honeywell International Inc.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
10.4. Infineon Technologies AG
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
10.5. LEM International SA
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
10.6. Littelfuse, Inc.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
10.7. Melexis
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
10.8. Monolithic Power Systems, Inc.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
10.9. Sensitec GmbH
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
10.10. TAMURA Corporation
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
10.11. TDK Corporation
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
10.12. Texas Instruments Incorporated
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development