Automotive Exhaust Gas Sensors Market: To Receive Overwhelming Hike In Revenues By 2025
Exhaust gas sensors control vehicular emissions and measure the temperature of exhaust gas that is monitored by the engine control unit, thus helping to prevent damage to the components of the automobile. These sensors are becoming increasingly important in modern automobiles as they are capable of protecting components which are located in the flow of hot exhaust gases from overheating. There are different types of exhaust gas sensors which perform distinctive functions. The number of O2 sensors is increasing in a vehicle owing to the introduction of onboard diagnostics and the ability of these sensors to reduce emission levels, improve fuel efficiency and maintain peak engine performance.
One of the key trends observed in the global automotive exhaust gas sensors market is an increase in the adoption of MEMS sensors, a miniaturized version of the traditional integrated circuits, which are produced by the micro-fabrication technology. The leading sensor manufacturers are increasing their research and development investments to come up with advanced micro-fabrication technologies that would help to fuel the overall revenue generation from the automotive exhaust gas sensors market
The global market is being strongly driven by the overall growth of the automotive industry. Further, increasing need for fuel efficiency and stringent vehicle emission norms is steadily bolstering the growth of the automotive exhaust gas sensors market globally. The introduction of stringent vehicular norms in several countries globally which demand the installation of automotive exhaust gas sensors in automobiles to control air pollutants in significantly boosting the market growth.
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The global automotive exhaust gas sensors market can be segmented on the basis of sensor type into O2 sensors, NOx sensors, differential pressure sensors, MAP-MAF sensors, particulate matter sensors and temperature sensors. NOx sensors monitor NOx vehicular emissions and play a vital role in selective catalytic reduction, which helps in complying with stringent global emission norms to curb the hazardous greenhouse effects. Thus the demand for these sensors is triggered by strict emission standards that are being mandated by governments across the globe.
The demand for NOx sensors is being further driven by the shift in the focus of automobile manufacturers towards developing engines which help to significantly reduce the fuel consumption of the vehicle. The market can be bifurcated on the basis of vehicle type into passenger vehicles and commercial vehicles. The global automotive exhaust gas sensors market can be further classified geographically into North America, Europe, Asia Pacific, South America and Middle East and Africa. Asia Pacific held the largest regional market share in 2016 and is expected to maintain its dominance during the forecast period. The APAC automotive exhaust gas sensors market is being driven by the growth of the commercial vehicles market owing to increased investment in industrial and infrastructure sector.
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The global automotive exhaust gas sensors market is highly competitive and fragmented, owing to the presence of a large number of international and regional players across the globe. The regional players find it difficult to compete with the international players who are increasingly expanding their global footprint with superior product quality, pricing and safety. The report provides the market share analysis of the key industry participants operating in the industry. The global market comprises a considerable number of manufacturers.
These players have been exhaustively profiled and their business overview, financial overview, business strategies and recent developments have been covered under the purview of the report. Some of the major players operating in the global automotive exhaust gas sensors market include Robert Bosch GmbH, Denso Corporation, Continental AG, Sensata Technologies and Delphi Automotive PLC among others. Other prominent vendors operating in the market are ABB Group, Broadcom Corporation, Faurecia, Emerson Electric Company, Hitachi Automotive Systems, Analog Devices, Inc., Tenneco Inc., Hyundai KEFICO and NGK Spark Plug Co., Ltd.
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