Global Automotive Exhaust Sensor Market Insights, Opportunity Analysis, Market Shares and Forecast 2017 - 2023
The global automotive exhaust sensor market is anticipated to grow at a CAGR of 6.59% during 2016 to 2023. The market has generated the revenue $24042 million in 2016 and is anticipated to reach up to $37582.51 million by 2023. The major boosting factor of the global automotive exhaust sensor market are Smart NOx sensors with sensor control units operating independently, exponential economic growth of various developed and developing countries and increasing automotive production. The use of micro fabrication technology has acceptable exhaust gas sensors to be more perfect and reliable and also augment their response time, communication capabilities robustness, and efficiency. Moreover, a huge number of sensor manufacturers are also mounting their R&D investments to arise with better micro fabrication technologies that will increase the overall revenue generation from the automotive sensors market.
The global automotive exhaust sensor markets are segmented into its vehicle type, sensor type, and fuel type. The vehicle type is further divided into a passenger car, light commercial vehicles (LCV), heavy commercial vehicles (HCV), and other vehicle types. The sensor type segment is sub segmented into exhaust temperature and pressure sensor, oxygen sensor, NOX sensor, particulate matter sensor, engine coolant temperature sensor, and MAP/MAF sensor. The NOX sensor segment witnessed for the highest market share during 2016 and expects to continue to dominate the market in the forecasted period. NOX sensors are progressively more used in selective catalytic reduction (SCR) method to examine NOX emissions and send response to the SCR control element that break down NOX gas to water and nitrogen to evade harmful emissions. It is observed that engines with NOX sensors lessen the expenditure of fuel, which will additionally drive the demand for NOX sensors. The fuel type segment of the global automotive segment is sub segmented into gasoline, diesel, and other fuel types.
On the basis of geography the automotive exhaust sensor market is segmented into North America, Europe, Asia Pacific and Row. The Asia-Pacific regions dominate the global automotive exhaust sensor market, due to the requirement for growth in the passenger cars in the countries such as India, Japan, China, and South Korea. India is home to an exciting automobile of over 40 million vehicles. In the global prospects the passenger car sales has increased with a tremendous pace in India. Asia pacific region also dominates the market due to the rigorous environmental norms being employed in the region.. Europe is also an attractive market followed by Asia-pacific due to its strict emission norms, which bound industries to compel through the demand of market by investigating diverse alternatives to decrease pollution. The Asia-Pacific region is anticipated to continue as a major market for automotive exhaust sensor throughout the forecasted period. It is estimated that in the year 2025 the fuel economy target is sited to around 54 miles per gallon under the standards of CAFE (corporate average fuel economy). In the cities such as Shanghai and Beijing the Euro V equivalent (China V) standards is applied which is for the light- duty vehicles. The government has planned to employ this standards across whole country by the year 2018..
The major players of the automotive exhaust sensor market are ABB, ANALOG DEVICES, Broadcom, Continental Ag, Delphi Co., Denso Corporation., Emerson Electric, Faurecia, Hella Kgaa Hueck & Co., Hitachi Ltd, Infineon Technologies AG, NGK Spark Plug Co., Robert Bosch GMBH, Sensata Technologies Holding NV, Stoneridge, Inc, and Tenneco. Acquisition, merger, innovation and new product launch are the major strategies which help to sustain in the market. In October 2014, Sensata Technologies acquired Schrader International, to expand its sensor product line, which is a global leader in tire pressure monitoring sensors (TPMS).
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