Global hall-effect current sensor market demand is anticipated to be valued at USD 1128.0 million in 2022, forecast to grow at a CAGR of 9.4% to be valued at USD 2765.0 million from 2022 to 2032. Growth is attributed to the increasing demand in end-use industries such as industrial automation, automotive, and consumer electronics. From 2016 to 2021 a CAGR of 7.4% was registered for the hall-effect current sensor market.
| Report Attribute | Details |
|---|---|
| Projected Growth Rate (2022 to 2032) | 9.4% CAGR |
| Expected Market Value (2022) | USD 1128.0 Million |
| Anticipated Forecast Value (2032) | USD 2765.0 Million |
Hall-effect current sensor derives their applications in solar inverters, solar panel tracking, motor current sensing, robots, machinery, conveyor belts, escalators, moving cranes, consumer electronics devices, and automotive. The growing need for current measurement raises the demand for hall-effect current sensors.
The hall-effect current sensor is a magnetic sensor that can sense current in any device and works on the hall-effect principle, which states that if a current-carrying conductor is placed near a magnetic field, a voltage will be generated which will be directly proportional to the product of the current and magnetic field.
The increased demand for high efficiency and improved system performances across the consumer electronics space are primary factors expected to propel the adoption of hall-effect current sensors. The increasing adoption of current sensors in industrial machinery is likely to influence the overall growth trajectory of the global hall-effect current sensors market during the forecast period. The low cost of hall-effect current sensors in comparison with other alternatives is another major factor likely to increase the demand for hall-effect current sensors during the assessment period.
The commendable progress made by hall-effect magnetic field sensors has paved the way for direct differential sensing of current-generated magnetic fields. This factor is expected to augment the adoption of hall-effect current sensors during the assessment period. Increasing application of loop hall-effect current sensors in industrial automation, broadcast equipment, power monitoring, robotics, and battery systems, thus driving the hall-effect current sensors market.
Inconsistencies in the strength of magnetic fields caused by the hall-effect current sensors are expected to affect the market in a negative manner during the forecast period if a magnet is accidentally placed wrong on the rotor, then the sensor is unable to detect a magnetic field, as the front of the sensor is facing the North Pole of the magnet.
The hall-effect sensor is not capable of measuring a current flow at a distance greater than 10 cm this factor also impedes the growth of the hall-effect current sensor market. In the hall effect sensor, open collector output is limited to about 20mA or less and It requires a separate magnet for its operation this is also one of the restraining factors.
North America was the fastest growing market for the hall-effect current sensor market and the trend is expected to continue into the forecast period owing to the increased adoption of hall-effect current sensors in automotive industries in the region. Also, the continuously growing electronics industry and growing use of advanced and smart electronic devices such as smartphones; boost s the growth of the hall-effect current sensor market in North America.
North America accounts for a total 29.8% share in the global hall-effect current sensor market. For Instance - Allegro MicroSystems, announced two new full-bridge gate drivers for automotive and industrial applications. Available with direct control (A89505) and pulse-width modulation (A89506) options, these devices up-integrate critical features to make system design easier, replacing mechanical relays with solid-state drivers to improve performance and reliability.
According to Future Market Insights, Europe accounts for a 23.9% share of the total global hall-effect current sensor market. The increasing scope of applications of intelligent hall-effect current sensors in the industrial sector is also one of the prominent reasons for the overall growth of the hall-effect current sensor market.
The growing technological advancement in hall-effect sensor technology, increasing demand for intelligent hall-effect sensors, and increasing use of programmable and fully integrated current sensors are the major factors that are propelling the market growth of the hall-effect current sensor market in Europe.
For instance in June 2022 - Melexis expands its portfolio of 3D magnetic position sensing solutions with the introduction of the MLX9042x series. These sensors are intended for cost-conscious automotive customers who need to measure absolute position accurately and safely in harsh and noisy environments over an extended temperature range.
As per the analysis, Asia-Pacific is projected to be the most lucrative market during the forecast period. The expansion of the regional market can be attributed to the increasing demand in the automotive, consumer electronics, medical, and industrial automation industries.
The increasing need for power management, government-supporting industrial automation and automotive sector, and growth of the industrial sector in countries such as China, India, South Korea, and Japan Asia Pacific dominates the hall-effect current sensor market in the forecasting period.
Rongtech Electricals, Right Motion, Pavan Industries, Jiangsu Acrel Electrical Manufacturing Co.ltd, Wibo Electronics Co. Ltd, and Coilcore are some of the start-up companies operating in the hall-effect current sensor market.
Some of the key participants present in the global hall-effect current sensor market include ABB Ltd, Honeywell International, Inc., STMicroelectronics N.V., Allegro MicroSystems LLC., Asahi Kasei Microdevice Corporation, Infineon Technologies AG, Melexis NV, LEM Holding SA, TDK Corporation and Kohshin Electric Corporation among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as ABB Ltd, Honeywell International, Inc., STMicroelectronics N.V., and Allegro MicroSystems LLC. account for considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 9.4% from 2022 to 2032 |
| Expected Market Value (2022) | USD 1128.0 Million |
| Anticipated Forecast Value (2032) | USD 2765.0 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Technology, Industry, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific; Japan; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Mexico, Brazil, Germany, Italy, United Kingdom, Spain, France, Russia, Poland, China, India, ASEAN, Australia &New Zealand, Japan, GCC Countries, South Africa, Northern Africa |
| Key Companies Profiled | ABB Ltd; Honeywell International, Inc.; STMicroelectronics N.V.; Allegro MicroSystems LLC.; Asahi Kasei Microdevice Corporation; Infineon Technologies AG; Melexis NV; LEM Holding SA; TDK Corporation; Kohshin Electric Corporation |
| Customization | Available Upon Request |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2016 to 2032
Table 2: Global Market Volume (Units) Forecast by Region, 2016 to 2032
Table 3: Global Market Value (US$ Million) Forecast by Technology, 2016 to 2032
Table 4: Global Market Volume (Units) Forecast by Technology, 2016 to 2032
Table 5: Global Market Value (US$ Million) Forecast by Industry, 2016 to 2032
Table 6: Global Market Volume (Units) Forecast by Industry, 2016 to 2032
Table 7: North America Market Value (US$ Million) Forecast by Country, 2016 to 2032
Table 8: North America Market Volume (Units) Forecast by Country, 2016 to 2032
Table 9: North America Market Value (US$ Million) Forecast by Technology, 2016 to 2032
Table 10: North America Market Volume (Units) Forecast by Technology, 2016 to 2032
Table 11: North America Market Value (US$ Million) Forecast by Industry, 2016 to 2032
Table 12: North America Market Volume (Units) Forecast by Industry, 2016 to 2032
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2016 to 2032
Table 14: Latin America Market Volume (Units) Forecast by Country, 2016 to 2032
Table 15: Latin America Market Value (US$ Million) Forecast by Technology, 2016 to 2032
Table 16: Latin America Market Volume (Units) Forecast by Technology, 2016 to 2032
Table 17: Latin America Market Value (US$ Million) Forecast by Industry, 2016 to 2032
Table 18: Latin America Market Volume (Units) Forecast by Industry, 2016 to 2032
Table 19: Europe Market Value (US$ Million) Forecast by Country, 2016 to 2032
Table 20: Europe Market Volume (Units) Forecast by Country, 2016 to 2032
Table 21: Europe Market Value (US$ Million) Forecast by Technology, 2016 to 2032
Table 22: Europe Market Volume (Units) Forecast by Technology, 2016 to 2032
Table 23: Europe Market Value (US$ Million) Forecast by Industry, 2016 to 2032
Table 24: Europe Market Volume (Units) Forecast by Industry, 2016 to 2032
Table 25: Asia Pacific Market Value (US$ Million) Forecast by Country, 2016 to 2032
Table 26: Asia Pacific Market Volume (Units) Forecast by Country, 2016 to 2032
Table 27: Asia Pacific Market Value (US$ Million) Forecast by Technology, 2016 to 2032
Table 28: Asia Pacific Market Volume (Units) Forecast by Technology, 2016 to 2032
Table 29: Asia Pacific Market Value (US$ Million) Forecast by Industry, 2016 to 2032
Table 30: Asia Pacific Market Volume (Units) Forecast by Industry, 2016 to 2032
Table 31: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2016 to 2032
Table 32: Middle East and Africa Market Volume (Units) Forecast by Country, 2016 to 2032
Table 33: Middle East and Africa Market Value (US$ Million) Forecast by Technology, 2016 to 2032
Table 34: Middle East and Africa Market Volume (Units) Forecast by Technology, 2016 to 2032
Table 35: Middle East and Africa Market Value (US$ Million) Forecast by Industry, 2016 to 2032
Table 36: Middle East and Africa Market Volume (Units) Forecast by Industry, 2016 to 2032
Figure 1: Global Market Value (US$ Million) by Technology, 2022 to 2032
Figure 2: Global Market Value (US$ Million) by Industry, 2022 to 2032
Figure 3: Global Market Value (US$ Million) by Region, 2022 to 2032
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2016 to 2032
Figure 5: Global Market Volume (Units) Analysis by Region, 2016 to 2032
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 8: Global Market Value (US$ Million) Analysis by Technology, 2016 to 2032
Figure 9: Global Market Volume (Units) Analysis by Technology, 2016 to 2032
Figure 10: Global Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 11: Global Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 12: Global Market Value (US$ Million) Analysis by Industry, 2016 to 2032
Figure 13: Global Market Volume (Units) Analysis by Industry, 2016 to 2032
Figure 14: Global Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 15: Global Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 16: Global Market Attractiveness by Technology, 2022 to 2032
Figure 17: Global Market Attractiveness by Industry, 2022 to 2032
Figure 18: Global Market Attractiveness by Region, 2022 to 2032
Figure 19: North America Market Value (US$ Million) by Technology, 2022 to 2032
Figure 20: North America Market Value (US$ Million) by Industry, 2022 to 2032
Figure 21: North America Market Value (US$ Million) by Country, 2022 to 2032
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2016 to 2032
Figure 23: North America Market Volume (Units) Analysis by Country, 2016 to 2032
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 26: North America Market Value (US$ Million) Analysis by Technology, 2016 to 2032
Figure 27: North America Market Volume (Units) Analysis by Technology, 2016 to 2032
Figure 28: North America Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 29: North America Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 30: North America Market Value (US$ Million) Analysis by Industry, 2016 to 2032
Figure 31: North America Market Volume (Units) Analysis by Industry, 2016 to 2032
Figure 32: North America Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 34: North America Market Attractiveness by Technology, 2022 to 2032
Figure 35: North America Market Attractiveness by Industry, 2022 to 2032
Figure 36: North America Market Attractiveness by Country, 2022 to 2032
Figure 37: Latin America Market Value (US$ Million) by Technology, 2022 to 2032
Figure 38: Latin America Market Value (US$ Million) by Industry, 2022 to 2032
Figure 39: Latin America Market Value (US$ Million) by Country, 2022 to 2032
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2016 to 2032
Figure 41: Latin America Market Volume (Units) Analysis by Country, 2016 to 2032
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 44: Latin America Market Value (US$ Million) Analysis by Technology, 2016 to 2032
Figure 45: Latin America Market Volume (Units) Analysis by Technology, 2016 to 2032
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 48: Latin America Market Value (US$ Million) Analysis by Industry, 2016 to 2032
Figure 49: Latin America Market Volume (Units) Analysis by Industry, 2016 to 2032
Figure 50: Latin America Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 52: Latin America Market Attractiveness by Technology, 2022 to 2032
Figure 53: Latin America Market Attractiveness by Industry, 2022 to 2032
Figure 54: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 55: Europe Market Value (US$ Million) by Technology, 2022 to 2032
Figure 56: Europe Market Value (US$ Million) by Industry, 2022 to 2032
Figure 57: Europe Market Value (US$ Million) by Country, 2022 to 2032
Figure 58: Europe Market Value (US$ Million) Analysis by Country, 2016 to 2032
Figure 59: Europe Market Volume (Units) Analysis by Country, 2016 to 2032
Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 62: Europe Market Value (US$ Million) Analysis by Technology, 2016 to 2032
Figure 63: Europe Market Volume (Units) Analysis by Technology, 2016 to 2032
Figure 64: Europe Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 65: Europe Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 66: Europe Market Value (US$ Million) Analysis by Industry, 2016 to 2032
Figure 67: Europe Market Volume (Units) Analysis by Industry, 2016 to 2032
Figure 68: Europe Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 69: Europe Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 70: Europe Market Attractiveness by Technology, 2022 to 2032
Figure 71: Europe Market Attractiveness by Industry, 2022 to 2032
Figure 72: Europe Market Attractiveness by Country, 2022 to 2032
Figure 73: Asia Pacific Market Value (US$ Million) by Technology, 2022 to 2032
Figure 74: Asia Pacific Market Value (US$ Million) by Industry, 2022 to 2032
Figure 75: Asia Pacific Market Value (US$ Million) by Country, 2022 to 2032
Figure 76: Asia Pacific Market Value (US$ Million) Analysis by Country, 2016 to 2032
Figure 77: Asia Pacific Market Volume (Units) Analysis by Country, 2016 to 2032
Figure 78: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 79: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 80: Asia Pacific Market Value (US$ Million) Analysis by Technology, 2016 to 2032
Figure 81: Asia Pacific Market Volume (Units) Analysis by Technology, 2016 to 2032
Figure 82: Asia Pacific Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 83: Asia Pacific Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 84: Asia Pacific Market Value (US$ Million) Analysis by Industry, 2016 to 2032
Figure 85: Asia Pacific Market Volume (Units) Analysis by Industry, 2016 to 2032
Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 88: Asia Pacific Market Attractiveness by Technology, 2022 to 2032
Figure 89: Asia Pacific Market Attractiveness by Industry, 2022 to 2032
Figure 90: Asia Pacific Market Attractiveness by Country, 2022 to 2032
Figure 91: Middle East and Africa Market Value (US$ Million) by Technology, 2022 to 2032
Figure 92: Middle East and Africa Market Value (US$ Million) by Industry, 2022 to 2032
Figure 93: Middle East and Africa Market Value (US$ Million) by Country, 2022 to 2032
Figure 94: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2016 to 2032
Figure 95: Middle East and Africa Market Volume (Units) Analysis by Country, 2016 to 2032
Figure 96: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 97: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 98: Middle East and Africa Market Value (US$ Million) Analysis by Technology, 2016 to 2032
Figure 99: Middle East and Africa Market Volume (Units) Analysis by Technology, 2016 to 2032
Figure 100: Middle East and Africa Market Value Share (%) and BPS Analysis by Technology, 2022 to 2032
Figure 101: Middle East and Africa Market Y-o-Y Growth (%) Projections by Technology, 2022 to 2032
Figure 102: Middle East and Africa Market Value (US$ Million) Analysis by Industry, 2016 to 2032
Figure 103: Middle East and Africa Market Volume (Units) Analysis by Industry, 2016 to 2032
Figure 104: Middle East and Africa Market Value Share (%) and BPS Analysis by Industry, 2022 to 2032
Figure 105: Middle East and Africa Market Y-o-Y Growth (%) Projections by Industry, 2022 to 2032
Figure 106: Middle East and Africa Market Attractiveness by Technology, 2022 to 2032
Figure 107: Middle East and Africa Market Attractiveness by Industry, 2022 to 2032
Figure 108: Middle East and Africa Market Attractiveness by Country, 2022 to 2032
FMI projects the global hall-effect current sensor market to expand at a 9.4% value CAGR by 2032
North America is expected to be the most opportunistic with a 29.8% share of the total hall-effect current sensor market
ABB Ltd, Honeywell International, Inc., STMicroelectronics N.V., and Allegro MicroSystems LLC. are some prominent hall-effect current sensor manufacturers.
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Hall-Effect Current Sensor Market
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