Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Voltage Transducer Market size was over USD 1.33 billion in 2024 and is anticipated to cross USD 3.24 billion by 2037, witnessing more than 7.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of voltage transducer is assessed at USD 1.41 billion.
The industry is expected to expand as a result of the rising demand for electric vehicles. For instance, global sales of electric vehicles surpassed 9 million in 2022, and sales are expected to rise by an additional 34% to over 13 million. The growing ubiquity of electric vehicles (EVs) is therefore one of the primary forces propelling the voltage transducer market's growth.
Additionally, electric vehicles are operated by electric motors and fueled by stored electricity in batteries which further increase demand for EV charging centers. At EV charging stations, voltage transducers are essential for monitoring and regulating voltage levels. Hence, with the growing demand for electric vehicles, the need for voltage transducers is also projected to grow. Furthermore, the sector is expanding as a result of ongoing technological developments, such as the creation of smaller transducers with higher precision, and better signal processing power. These developments are making it possible to detect voltage more precisely and integrate it with monitoring systems more easily, which is greatly accelerating the product's entry into a variety of industries.
