In a recent published report, Kenneth Research has updated the market report for Hall-Effect Current Sensor Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Hall-Effect Current Sensor Market products.
Kenneth Research has published a detailed report on Hall-Effect Current Sensor Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
The Global Hall-Effect Current Sensor Market was valued at USD 842.02 million in 2016 and is projected to reach USD 1763.40 million by 2025, growing at a CAGR of 8.56% from 2017 to 2025.
A Hall Effect sensor is a transducer that varies its output voltage in response to a magnetic field. Hall Effect sensors are used for proximity switching, positioning, speed detection, and current sensing applications. The Hall Effect sensors are commonly used in the automotive industry. There are several advantages of using hall-effect sensors that includes – strong sensing ability, high quality, durable, highly reliable, high speed operation, can measure zero speed, can work in wide temperature range and capable of measuring large currents.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 Increasing need for energy management for urbanization and industrialization
1.2 Used in eco-friendly electric and hybrid vehicles
1.3 Increasing demand for intelligent hall-effect current sensors
1.4 Rising use of fully integrated and programmable current sensors
1.5 Technological enhancements in hall-effect current sensors
2. Market Restraints
2.1 Rising demand for low-cost hall-effect current sensors
2.2 Issues with the strength of magnetic fields
The Global Hall-Effect Current Sensor Market is segmented on the type, technology, output, vertical, and region.
1.1 Closed-Loop Current Sensor
1.2 Open-Loop Current Sensor
2. By Technology:
3. By Output:
4. By Vertical:
4.2 Consumer Electronics
4.3 Aerospace & Defense
4.4 Industrial Automation
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. Infineon Technologies AG
2. ABB Ltd
3. Asahi Kasei Microdevices Corporation
4. Honeywell International Inc.
5. LEM Holding SA
6. Kohshin Electric Corporation
7. Melexis NV
8. Allegro MicroSystems, LLC.
9. Stmicroelectronics N.V.
10. TDK Corporation
11. Pulse Electronics Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Hall-Effect Current Sensor Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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