Rockville, MD -- (SBWIRE) -- 06/14/2019 -- The global market for automotive exhaust sensor will exhibit a steady 4.0% CAGR, in terms of value, between the forecast period 2017 and 2026, as slated by a new Fact.MR report. Over 160,000,000 units of automotive exhaust sensors are expected to be sold worldwide by 2026-end. The market for automotive exhaust sensor in Europe and North America has reached a maturity stage, and is currently stable on the back of a slack in production and rising competition from developing economies in Asia-Pacific excluding Japan (APEJ) and Latin America. However, with implementation of the Euro VI norms in 2017, demand for exhaust sensors is expected to witness a gradual rise in Europe in the near future. Europe will remain the largest market for automotive exhaust sensor, in terms of value.
The interdisciplinary nature of microelectromechanical system (MEMS) sensors which are fabricated using integrated circuit (IC) batch processing techniques and have the ability to sense, actuate and control on the micro scale has grabbed eyeballs globally.
Nevertheless, MEMS has been regarded as one of the most sought-after technologies of the 21st century and has the potential to transform both consumer and industrial products by combining silicon-based microelectronics with micromachining technology. The use of MEMS as internal navigation sensors; air conditioning compressor sensor; brake force sensors & suspension control accelerometers has received accolades in the automotive landscape.
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In today's era, automobiles are made of sophisticated technologically-based systems which depend on information coming from different sensors to discern the optimal conditions for fuel efficiency, engine performance and other aspects of automobiles. Accordingly, oxygen sensor has been regarded as one of the critical components in any car's exhaust system. When it comes to aptly concoct a robust fuel-to-oxygen ration for the combustion, oxygen sensor plays a huge role.
Soaring fuel costs and relentless pressure on the automotive industry to curb emissions have led to booming market shares for passenger cars. According to the study, over 160,000,000 units of automotive exhaust sensors are anticipated to be sold by 2026 end. Meanwhile, there will be rising demand for automotive exhaust sensors for use in gasoline engines. On the basis of sales channel, OEMs are anticipated to be in the vanguard of exhaust sensor market.
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Automotive Exhaust Sensor Market: Overview
The report provides a deep dive analysis on the automotive exhaust sensor market propelled by quantitative and qualitative analysis. The report focuses on the segmentation of the market to offer a holistic approach of the market. Additionally, the report sheds light on the dynamics of the market that have considerable influence on the growth of the automotive exhaust sensor market, namely, drivers, opportunities, restraints and trends.
Primary research and secondary research provides a coherent assessment on automotive exhaust sensor market. As such, the secondary research delineates trade journals, Factiva, press release, resourceful database and EC filing. Meanwhile, the report also encompasses absolute dollar opportunity analysis and Y-o-Y projections. The report is further propelled by primary research that prioritizes telephonic interview, veracious review from experts, unbiased and honest views from surveys and seasoned analyst.
Automotive Exhaust Sensor Market: Competitive Landscape
Nature of the global automotive exhaust sensor market is highly competitive and fragmented on the back of the occupancy of numerous international and regional players worldwide. As international players are concentrating on the expansion of their geographical reach, regional vendors are finding it difficult in competing against them based on product cost, safety, and quality. Key players actively contributing to the market expansion include Sejong Industrial Co., Ltd., Harbin Airui Automotive Exhaust Systems Co. Ltd., Bosal International N.V., SANGO Co., Ltd., Yutaka Giken Co., Ltd., Futaba Industrial Co., Ltd., Benteler International AG, Friedrich Boysen GmbH & Co. KG, Eberspächer Group, Tenneco Inc., and Faurecia S.A.
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