Hall effect current sensor
According to Technavio, the global hall effect current sensor market size is estimated to grow by USD 746.59 million from 2022 to 2027. The market is estimated to grow at a CAGR of 9.35% during the forecast period. Moreover, the growth momentum will accelerate. The increasing application of sensors to avoid the inconsistency in the strength of magnetic fields is notably driving the market growth, although factors such as increasing chainsaw kickbacks accidents may impede the market growth.Get more news about
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Major challenges hindering the market growth
The increasing number of chainsaw kickback accidents is a major challenge impeding market growth.
The front face of the hall effect sensor normally detects the south pole. This means that the North Pole is visible on the other side of the sensor.
Moreover, the proximity of hall effect current sensors to strong external magnetic fields can produce conflicting results.
An individual sensor in a device containing hall effect current sensors senses a magnetic field and produces an output signal.
The sensor fails to detect a magnetic field if a magnet is inadvertently placed incorrectly on the rotor.
Therefore, these discrepancies in magnetic field strength induced by hall effect current sensors are expected to hamper the market growth during the forecast period.
The open loop current sensors segment will account for a significant share of the market growth during the forecast period. In an open-loop hall effect current sensor, a conductor runs inside a magnetic core where current is measured. In this way, the current generates a magnetic field inside the core. Moreover, the hall sensor mounted in the air gap of the core measures this field. Such factors will drive the growth of the segment during the forecast period.
Geography Overview
By geography, the global hall effect current sensor market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global hall effect current sensor market.
APAC is estimated to contribute 36% to the growth of the global market during the forecast period. North America is another region offering significant growth opportunities to vendors.US automakers use hall effect current sensors to ensure passenger safety. Increasing use of hall effect current sensors in data processing peripherals is also expected to spur market growth. Such factors will increase the market growth during the forecast period.
