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Magnetic Current Sensor Market worth $4.20 billion by 2032 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 9, 2026 /PRNewswire/ — According to MarketsandMarkets™, the global magnetic current sensor market is projected to grow from USD 2.05 billion in 2026 to USD 4.20 billion by 2032, registering a CAGR of 12.7%.

Browse 180 market data Tables and 90 Figures spread through 300 Pages and in-depth TOC on “Magnetic Current Sensor Market – Global Forecast to 2032”

Magnetic Current Sensor Market Size & Forecast:

Market Size Available for Years: 2021–20322026 Market Size: USD 2.05 billion2032 Projected Market Size: USD 4.20 billionCAGR (2026–2032): 12.7%

Magnetic Current Sensor Market Trends & Insights:

The magnetic current sensor market is projected to expand rapidly over the next decade, propelled by innovations in sensor materials, miniaturization, and integration with advanced power electronics. Growing demand for energy-efficient motor drives, reliable battery management solutions, and safety-compliant automotive components is accelerating market adoption. The transition to smart infrastructure, such as intelligent grid systems and IoT-connected devices, further amplifies the need for real-time, high-accuracy current sensing and monitoring capabilities.By type, Hall-effect current sensors are likely to account for the largest share of 74.4% of the magnetic current sensor market in 2026, supported by their broad adoption across automotive, industrial, consumer electronics, and energy & power applications due to their non-contact measurement capability, reliability, and cost-effectiveness.By loop type, the closed-loop segment is expected to register a CAGR of 13.7% during the forecast period, driven by growing demand for high-accuracy, fast-response, and electrically isolated current measurement across electric vehicles, industrial motor control, renewable energy systems, and power electronics.By vertical, the automotive vertical accounted for the largest share of 33.0% of the magnetic current sensor market in 2026, driven by increasing vehicle electrification and demand for current sensing in battery management systems, inverters, onboard chargers, motor control, and other powertrain applications.By region, Asia Pacific is expected to register the highest CAGR of 14.6% during the forecast period, driven by its strong automotive and electronics manufacturing base, increasing electric vehicle adoption, expanding renewable energy capacity, and growing investments in industrial automation and advanced power electronics.

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The increasing 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, supporting applications across electric vehicles, industrial automation, renewable energy, battery systems, and power electronics. Their non-intrusive design supports electrical isolation and system reliability, while advancements in sensor integration, miniaturization, and high-bandwidth sensing are enabling compact and energy-efficient solutions. The growing need for reliable, real-time current monitoring across electrification, power conversion, and energy management applications is expected to continue driving demand for magnetic current sensors globally.

XMR technologies to exhibit highest growth rate in magnetic current sensor market.

XMR technology-based current sensors are expected to exhibit the highest CAGR in the magnetic current sensor market, driven by their high sensitivity, accuracy, linearity, and low power consumption. XMR technologies, including Anisotropic Magnetoresistance (AMR), Giant Magnetoresistance (GMR), and Tunnel Magnetoresistance (TMR), offer high precision and stability, making them suitable for applications requiring compact form factors and reliable current measurement. Their adoption is increasing across electric vehicles, battery management systems, industrial equipment, advanced power electronics, and other high-performance applications. The growing demand for compact, high-performance sensing solutions, together with increasing electrification and integration of intelligent electronic systems, is expected to support the adoption of XMR-based current sensors.

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

The automotive vertical is expected to account for the largest share of the magnetic current sensor market, driven by the accelerating adoption of electric and hybrid vehicles, which require precise current sensing for critical functions such as battery management, motor control, power distribution, and onboard charging. Magnetic current sensors enable accurate and non-contact current monitoring in high-voltage systems, supporting vehicle safety, energy efficiency, and real-time system diagnostics. In addition, the growing integration of advanced driver-assistance systems (ADAS), infotainment systems, and intelligent power electronics in modern vehicles is increasing demand for accurate and compact current sensing solutions. The continued shift toward vehicle electrification and stringent energy-efficiency requirements is expected to support adoption across automotive applications further.

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

Asia Pacific is estimated to be the largest magnetic current sensor industry during the forecast period, supported by its expansive industrial base, strong electric vehicle production, and increasing investments in renewable energy and automation technologies. Countries such as China, Japan, South Korea, and India are major manufacturing centers for automotive, consumer electronics, and energy infrastructure, creating substantial demand for reliable current sensing solutions. The region also benefits from the presence of major semiconductor and sensor manufacturers, established electronics supply chains, and growing investments in electric mobility, solar power, and battery systems. Government initiatives supporting local manufacturing, electrification, renewable energy deployment, and advanced technology adoption are further contributing to market growth across the region.

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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Solstice Announces $49 Million Investment to Expand Research and Development Capabilities in Buffalo, New York

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Empire State Development to support the investment with up to $1.4 million in performance-based tax credits through New York’s Excelsior Jobs Program

Investment intended to strengthen Solstice’s innovation capabilities supporting refrigerants, advanced cooling and other high-growth applications

MORRIS PLAINS, N.J., Oct. 9, 2026 /PRNewswire/ — Solstice Advanced Materials (Nasdaq: SOLS), a global leader in high-performance specialty materials, today announced plans to invest $49 million to expand research and development (R&D) capabilities at its Buffalo, New York facility. The investment is intended to enhance Solstice’s ability to develop and commercialize next-generation technologies for high-growth markets and is supported by up to $1.4 million in performance-based tax credits from New York State.

The investment will go toward establishing a next-generation innovation platform at Solstice’s Buffalo research campus. The upgrades will include expanded capabilities for refrigerant and thermal management research, enhanced toxicological testing to support the efficient development of new technologies and the construction of a lab for advanced energy storage materials.

“Innovation is one of the core reasons customers choose Solstice, and these investments will strengthen our ability to develop and commercialize the next generation of advanced materials,” said David Sewell, President and Chief Executive Officer of Solstice. “Buffalo has played an important role in our innovation efforts for decades, and these projects will expand the site’s capabilities in areas aligned with long-term growth trends. By investing in Buffalo, we are helping advance the solutions our customers need while supporting future growth across critical industries.”

“New York continues to be a magnet for the industries of tomorrow, and Solstice’s decision to anchor its premier R&D facility right here in Buffalo proves that our economic strategy is working,” said Kathy Hochul, Governor of New York State. “This $49 million investment will create good-paying jobs, foster cutting-edge research and keep New York at the forefront of the green technology revolution.”

“This investment will accelerate the innovation our customers and critical industries depend on while creating new opportunities for growth in Buffalo,” said Tom Isberg, Vice President, R&D, Solstice. “By expanding our R&D capabilities here, we are strengthening Solstice’s proven hub for advancing next-generation solutions from lab to market. We are grateful for the support of New York State and Empire State Development, whose partnership is helping strengthen Buffalo’s long-standing role as a center for scientific innovation and research.”

The Buffalo site employs approximately 180 scientists, engineers and support staff and has been at the forefront of advanced materials innovation since the facility opened in 1955. Research conducted at the site has resulted in more than 3,700 patents globally and has helped develop technologies used around the world for energy-efficient cooling, specialty materials and advanced manufacturing applications. Notably, the site played a leading role in the development of multiple generations of widely adopted refrigerant technologies.

As part of the project, Solstice has committed to creating 12 new, full-time positions at the Buffalo facility by June 2027, while making a total qualified capital investment of $49 million. Empire State Development is supporting the project with up to $1.4 million in performance-based tax credits through New York State’s Excelsior Jobs Program.

About Solstice Advanced Materials

Solstice Advanced Materials is a leading global specialty materials company that advances science for smarter outcomes. Solstice offers high-performance solutions that enable critical industries and applications, including refrigerants, semiconductor manufacturing, data center cooling, nuclear power, protective fibers, healthcare packaging and more. Solstice is recognized for developing next-generation materials through some of the industry’s most renowned brands such as Solstice®, Genetron®, Aclar®, Spectra®, Fluka™ and Hydranal™. Partnering with over 3,000 customers across more than 120 countries and territories and supported by a robust portfolio of over 5,700 patents and pending applications, Solstice’s approximately 4,100 employees worldwide drive innovation in materials science. For more information, visit www.Solstice.com.

Forward-Looking Statements

This news release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts, but rather are based on current expectations, estimates, assumptions and projections. These statements include, but are not limited to, statements regarding the planned investment in the Buffalo, New York facility, the amount of performance-based tax credits Solstice will receive in connection with the project, and the expected results of the investment. These statements involve risks and uncertainties, many of which are difficult to predict and are outside of Solstice’s control, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include, without limitation, ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, and inflation, that can affect Solstice’s performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, Solstice’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on February 19, 2026, and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. Solstice does not undertake to update or revise any of its forward-looking statements, which speak only as of the date they are made, except as otherwise required by securities or other applicable law.

Contact
Media
Phil Terrigno
973-768-8868
Phil.Terrigno@solstice.com

Investors
Mike Leithead
973-370-8188
Michael.Leithead@solstice.com

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SOURCE Solstice Advanced Materials US, Inc.

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Uzbekistan Presents Initiative to Advance Central Asia’s Scientific Heritage at UNESCO

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More than 300 participants take part in Paris event on preserving, studying and promoting the region’s scientific and spiritual legacy

PARIS, Oct. 9, 2026 /PRNewswire/ — Uzbekistan presented an international initiative at UNESCO Headquarters on Oct. 7 to preserve, study and promote the scientific and spiritual heritage of Central Asia, highlighting the region’s enduring contribution to world civilization.

The event, titled “Islamic Civilization: The Great Spiritual and Scientific Heritage of Transoxiana and the Horizons of Enlightenment,” brought together more than 300 representatives of international organizations, the diplomatic corps, scientific institutions, cultural organizations and expert communities, in person and online.

The presentation advanced the international agenda outlined by President of Uzbekistan Shavkat Mirziyoyev in his address to the 80th session of the United Nations General Assembly in September 2025. That agenda calls for greater recognition of Central Asia’s intellectual heritage, expanded international scientific cooperation and stronger dialogue among cultures.

Participants discussed opportunities for UNESCO and the United Nations system to support collaborative projects focused on historical sources, manuscript preservation, digital technologies and broader access to scientific knowledge. The initiative seeks to connect the region’s historical legacy with contemporary priorities in education, research and intercultural dialogue.

Dr. Firdavs Abdukhalikov, Director of the Center for Islamic Civilization in Uzbekistan and Chairman of the World Society for the Study, Preservation and Promotion of the Cultural Heritage of Uzbekistan (WOSCU), presented the initiative’s principal areas of focus. He emphasized the importance of coordinated efforts by researchers, libraries, museums, universities and international organizations to make the work of Central Asia’s leading thinkers more accessible to scholars and future generations.

The conference was joined by heads of leading international scientific, cultural and diplomatic organizations who traveled to Paris to deliver presentations. They included Dr. Farhan Nizami, Director of the Oxford Centre for Islamic Studies; Dr. Salim M. AlMalik, Director General of the Islamic World Educational, Scientific and Cultural Organization (ICESCO); Prof. Dr. Mahmud Erol Kılıç, Director General of the Research Centre for Islamic History, Art and Culture (IRCICA); Mr. Sali Shahsavari, Executive Director of the Al-Furqan Islamic Heritage Foundation; Mr. Robert F. Blum, President of the Diplomatic Circle of Geneva; Prof. Mario Taddei of the Design University of Milan; Dr. Salima Dalibey of the Permanent Observer Delegation of the Organization of Islamic Cooperation to UNESCO; and Ms. Frédéric Bressand, President of the Association for the Study of History and Art of the Timurid (France).

The initiative includes plans for an international digital platform for historical sources, the application of artificial intelligence to manuscript research, the establishment of a scientific consortium, support for early-career researchers and the use of cultural diplomacy to advance global educational and scientific projects.

The Center for Islamic Civilization in Uzbekistan, which opened in Tashkent in March 2026, was also highlighted. Covering approximately 15,000 square meters, the Center presents materials spanning the region’s history of science, education, spiritual thought and cultural exchange. Its collections include the Quran of Uthman, a significant monument of early Islamic written heritage listed in UNESCO’s Memory of the World Programme.

The Center is intended to serve as an international scientific and educational platform, combining historical collections with contemporary research methods, digital tools and educational programming. Its mission extends beyond preservation to include knowledge exchange, academic partnerships and cultural dialogue.

Further engagement with UNESCO, United Nations bodies and scientific and cultural institutions worldwide is planned. The initiative will also support the presentation of Central Asia’s heritage at international venues, including events in Paris and Geneva, with the goal of expanding cooperation globally. The presentation reaffirmed Uzbekistan’s commitment to strengthening international cooperation in cultural heritage preservation and expanding the presence of Central Asia’s scientific heritage in the global intellectual landscape. By combining historical knowledge, modern technologies and international expertise, the initiative aims to create new opportunities to study and share the common cultural heritage of humanity.

The event was organized by the Center for Islamic Civilization in Uzbekistan, the Permanent Delegation of the Republic of Uzbekistan to UNESCO, the National Commission of Uzbekistan for UNESCO, the Ministry of Foreign Affairs of the Republic of Uzbekistan, the Embassy of Uzbekistan in France and specialized scientific, educational and cultural organizations of Uzbekistan.

Notes to editors:
About the Center for Islamic Civilization in Uzbekistan. Opened in March 2026, the Center for Islamic Civilization is located on the historical site of Shash, in the heart of Tashkent, next to the spiritual center of the capital, the Hazrati Imam complex. The three-story building measures 145 by 115 meters, and its central dome rises 65 meters.

The Center’s exposition is based on the Uthman Quran, one of the oldest surviving handwritten copies of the Quran in the world. The manuscript is included in the UNESCO Memory of the World program, dedicated to the preservation and promotion of documentary heritage of world importance.

The area of the main museum exposition is about 15,000 square meters; In addition, the complex includes a research center, digitization laboratories, as well as conservation and restoration workshops. Visitors will be able to see rare artifacts of different historical periods, returned from abroad, including those purchased at international auctions and from private collectors at the initiative of the President of Uzbekistan. The exposition also presents collections of museums from around the world and the World Society for the Study, Preservation and Promotion of the Cultural Heritage of Uzbekistan (WOSCU). Interactive exhibitions tell about the outstanding achievements of the Islamic Golden Age in the fields of algebra, astronomy and medicine.

Even before the official opening, the Center received wide international recognition. In 2026, it was named one of the most beautiful museums in the world by the Prix Versailles, included by Smithsonian Magazine and BBC Travel in the list of the most anticipated new museums of the year, and also listed in the Guinness Book of World Records as the world’s largest museum dedicated to Islamic civilization.

Website: https://iccu.uz/en

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A+ Federal Credit Union Celebrates Fifth Annual A+ Gives Day with Volunteer Service and Community-Driven Giving

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Team members volunteering across Texas and the nation while community voting initiative awards $10,000 to local nonprofit organizations.

AUSTIN, Texas, Oct. 9, 2026 /PRNewswire/ — A+ Federal Credit Union (A+FCU) is celebrating its fifth annual A+ Gives Day by bringing team members together for a coordinated day of volunteer service benefiting nonprofit organizations in Central Texas, across Texas, and throughout the country. The annual initiative also includes a community-wide voting campaign that awards $10,000 to five local nonprofits.

On Monday, October 12, 2026, A+FCU team members will volunteer with nonprofit organizations in the communities where they live and work, supporting causes focused on community outreach, park cleanup, animal welfare, and food insecurity. While many team members will serve at organizations throughout Central Texas, remote team members across Texas and around the country will also participate in volunteer activities in their local communities.

As part of this year’s effort, A+FCU is awarding $10,000 in charitable donations, with five nonprofit organizations each receiving a $2,000 contribution following a public voting campaign that invited community members to help determine the recipients.

“A+ Gives Day reflects the spirit of service that has always been at the heart of A+FCU,” said Eric R. Kase, President/CEO of A+ Federal Credit Union. “Our team members give back throughout the year, but A+ Gives Day is special because it brings us together around a shared purpose. Whether volunteering in Central Texas, elsewhere across the state, or in communities around the country, our team dedicates this day to supporting organizations that make a real difference. As we celebrate five years of A+ Gives Day, we’re proud of what this initiative has become, the partnerships it has fostered, and the collective impact our team members and nonprofit partners continue to make in communities across Texas and beyond.”

Originally created by A+FCU employees in 2019 as part of the credit union’s 70th anniversary celebration, A+ Gives began as a series of acts of kindness and community service projects. Since then, it has evolved into a year-round commitment to volunteerism, charitable giving, and community partnerships, anchored by an annual day of service that brings team members together to support causes that matter most to their communities.

The five nonprofits receiving this year’s $2,000 donations were selected through an online voting campaign that encouraged community members and supporters to rally behind organizations making a positive impact across Central Texas. Donation recipients will be announced during A+ Gives Day activities.

The annual initiative continues to grow in impact. During the 2025 A+ Gives Day, over 490 A+FCU employees volunteered more than 1,500 hours at 74 organizations, including 42 across Central Texas and 32 in communities across the country. As A+FCU celebrates the fifth annual A+ Gives Day, the initiative stands as a reflection of the credit union’s long-standing commitment to serving others through volunteerism, charitable giving, financial education, and community partnerships.

A+ Gives is an ongoing effort that positively impacts community partners and A+FCU team members. Visit aplusfcu.org/gives to learn more about the program’s history and the organizations it supports.

A+ Federal Credit Union was founded in 1949 by 50 Austin, Texas teachers. Over seventy-seven years later, A+FCU is an award-winning institution with more than 190,000 members throughout the community, $2.52 billion in assets, over 520 employees, and 22 branches. A+FCU supports members with a full range of financial products, including home, auto, and business loans, checking and savings accounts, as well as digital banking solutions for banking on the go. Learn more at aplusfcu.org.

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