Magnetic Current Sensor Market worth $3.51 billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., July 17, 2025 /PRNewswire/ -- The global magnetic current sensor market is projected to grow from USD 1.98 billion in 2025 to USD 3.51 billion by 2030, at a CAGR of 12.1% according to a new report by MarketsandMarkets™. The high adoption of hall-effect current sensors is a key driver of the magnetic current sensor market, owing to their versatility, cost-effectiveness, and ability to measure both AC and DC currents. These sensors provide accurate, contactless current measurement, making them ideal for a wide range of applications such as electric vehicles, industrial automation, consumer electronics, and power supplies. Their non-intrusive design ensures safety and system integrity, while advancements in integration and packaging have enabled compact, energy-efficient solutions. The growing need for reliable, real-time current monitoring across various industries continues to accelerate the demand for Hall-effect sensors worldwide.

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Magnetic Current Sensor Market Report Scope:

Magneto-resistive to exhibit highest growth rate in magnetic current sensor market.

Magneto-resistive technology-based current sensors are expected to exhibit the highest CAGR in the current magnetic sensor market due to their superior sensitivity, precision, and low power consumption compared to traditional sensing methods. Technologies such as Anisotropic Magnetoresistance (AMR), Giant Magnetoresistance (GMR), and Tunnel Magnetoresistance (TMR) offer excellent linearity and stability, making them ideal for applications requiring compact form factors and high accuracy, such as battery management systems, industrial equipment, and advanced consumer electronics. The miniaturization capabilities of these sensors allow for seamless integration into densely packed electronic devices. Additionally, the growing demand for smart and connected systems, especially in electric vehicles and IoT applications, is accelerating the adoption of magneto-resistive sensors.

Automotive sector to account for largest share of magnetic current sensor market.

The automotive industry dominates the magnetic current sensor market due to the accelerating transition toward electric and hybrid vehicles, which require precise and efficient current sensing for critical functions such as battery management, motor control, power distribution, and onboard charging. Magnetic current sensors are essential for monitoring current flow in high-voltage systems, enabling safety, energy efficiency, and real-time system diagnostics. Additionally, the growing integration of advanced driver assistance systems (ADAS), infotainment units, and intelligent power electronics in modern vehicles further boosts the demand for accurate and compact current sensing solutions. As global regulations emphasize lower emissions and improved energy efficiency, automakers are increasingly relying on magnetic current sensors to enhance vehicle performance, safety, and regulatory compliance.

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Asia Pacific estimated to be largest magnetic current sensor market during forecast period.

Asia Pacific holds a dominant position in the magnetic current sensor industry, driven by its expansive industrial base, strong growth in electric vehicle production, and rising investments in renewable energy and automation technologies. Countries like China, Japan, South Korea, and India are major manufacturing centers for automotive, consumer electronics, and energy infrastructure sectors that require reliable, efficient current sensing solutions. The region benefits from a high concentration of semiconductor and sensor manufacturers, enabling rapid innovation and cost-effective mass production. In particular, the growing demand for electric mobility, solar inverters, battery management systems, and smart appliances has significantly increased the use of magnetic current sensors. Government initiatives focused on energy efficiency, local production, and the adoption of clean technology are further fueling market growth. This combination of high demand, supportive policies, and manufacturing capabilities positions Asia Pacific as the global leader in magnetic current sensor adoption and development.

Key Players

The magnetic current sensor companies includes Tier I and II players, such as Allegro MicroSystems, Inc. (US), Infineon Technologies AG (Germany), TDK Corporation (Japan), Asahi Kasei Corporation (Japan), LEM International SA (Switzerland), Melexis (Belgium), and TAMURA Corporation (Japan), among others.

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