Exhaust Sensors for Automotive Market Analysis -
Market Research Future (MRFR) estimates, the Exhaust Sensors for Automotive Market size is expected to grow at a CAGR of 2.5 percent through 2027.
A sensor is a device that detects or measures physical properties and then shows or reacts to them. Fluid level, temperature, pressure, and exhaust gas sensors are examples of automotive sensors. Sensors are essential for safety, comfort, and emission control.
Growing adoption of stringent emission standards and norms, the penetration of diesel engine vehicles in emerging economies, the use of microfabrication technology as it allows them to be more perfect and reliable as well as improve their response time, communication capabilities robustness, and performance, rising levels of disposable income of people, rising demand for passenger cars are some of the main as well as impactful factors which will likely to boost the growth of the exhaust sensors for automotive market in the projected period.
On the other hand, the rising use of electronics in automobiles for emission control, as well as radiofrequency particulate matter sensors, would further contribute to the development of exhaust sensors for automotive market in the projected timeframe.
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Increasing demand for battery electric vehicles, as well as an increase in complexity and electronics in vehicles, would likely serve as market constraints for the growth of the exhaust sensors for automotive during the forecast period. Increasing the life expectancy of emission sensors will be the biggest and most pressing challenge for the market's development.
COVID-19 Impact on the Global Exhaust Sensors for Automotive Market
The global outbreak of a novel coronavirus pandemic is expected to cause a slight slowdown in the industry. Due to labor shortages, manufacturing operations have come to a halt. This has resulted in a significant fall in demand from end-use industries.
Exhaust Sensors for Automotive Market Segment Analysis
The segment study of the global exhaust sensors for the automotive market is done by fuel, sensors, and vehicle.
The fuel-based segments of the exhaust sensors for the automotive market are diesel and gasoline. The rise in sales of diesel cars and high rate of exhaust sensors incorporation in them is likely to promote the rise of the market in the study period.
The sensors based segments of the exhaust sensors for the automotive market are exhaust temperature & pressure, NOX, MAP/MAF sensors, O2, engine coolant temperature, and particulate matter. The wide range of application of MAP/MAF sensors can generate considerable revenue across the study period. The rise in utility of engine coolant temperature can support the expansion of the exhaust sensors for the automotive market in years ahead.
The vehicle based segments of the exhaust sensors for the automotive market are passenger car, light commercial vehicle (LCV), and heavy commercial vehicle (HCV). The passenger car segment can boost the expansion of the exhaust sensors for the automotive market.
Regional Study
In Asia Pacific, the rise of the small automotive exhaust sensor dealers and increase in passenger cars across powerful regions of APAC can promote the expansion of the market in the years to come. The expansion of APAC exhaust sensors for the automotive market can be attributed to rise of the population in China and other countries of APAC in the years to come.
Europe holds numerous growth opportunity for the market. The increase in the demand for finding alternatives to curb pollution can promote the expansion of the market in the years to come. The rise in need for automobile exhaust sensors by automakers in Italy, France, Germany, and the UK can push the rise of the market across the study period.
Key Players
Sensata Technologies Holding NV (USA), Delphi Co. (India), Robert Bosch GmbH (Germany), NGK Spark Plug Co. Ltd (Japan), Continental AG (Germany), Denso Corporation (Japan), Infineon Technologies AG (Germany), Hella KGAA Hueck & Co. (Germany), Hitachi Ltd (Japan), and Stoneridge Inc (USA) are some notable companies in the worldwide exhaust sensors for automotive market. The growing competition among key players are noted to favor the global market through the assessment period. Mergers, partnerships, and new products are likely to boost the expansion of the worldwide market of exhaust sensor for automobile market through the analysis period. In-depth understanding of key contenders of the market can aid in making better business decisions.
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