The market for automotive exhaust sensor is expected to reach a value pool of US$ 37 Billion by the end of the projected period from 2022 to 2032.
ROCKVILLE, MARYLAND, UNITED STATES, May 24, 2022 /EINPresswire.com/ — Sales of automotive exhaust sensor are anticipated to reach a value pool of US$ 37 Billion by 2032, augmenting at a 3.2% CAGR through the decade. The worldwide automotive exhaust sensor market is observing a prominent shift as the major manufacturers in the industry are opting for MEMS sensors owing to their high precision as well as increased dependability.
Furthermore, manufacturers are making tremendous amount of investments in R&D to operations so as to fabricate contemporary and top of the line micro fabrication technologies, which are a primary driver for the market expansion of the automotive exhaust sensor market. In addition to this, the soaring automobile market is expected to be a much needed booster for the expansion of the ubiquitous automotive exhaust sensor industry.
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From 2015 to 2021, demand accelerated at a value CAGR of 4.3%, concluding at a market value of US$ 25 Billion. As the global automotive industry experienced a plunge during the COVID-19 pandemic, sales prospects were temporarily impacted, at least throughout 2020. Eventually, as vaccination drives paced up and infection rates subsided from 2021, prospects have been buoyed out significantly.
Key Segments Covered in the Automotive Exhaust Sensor Industry Report
• Automotive Exhaust Sensor by Vehicle Type :
o Automotive Exhaust Sensor for Passenger Cars
o Automotive Exhaust Sensor for Light Commercial Vehicles
o Automotive Exhaust Sensor for Heavy Commercial Vehicles
• Automotive Exhaust Sensor by Engine Type :
o Gasoline Engine Automotive Exhaust Sensors
o Diesel Engine Automotive Exhaust Sensors
• Automotive Exhaust Sensor by Sales Channel :
o Automotive Exhaust Sensor Sales via OEMs
o Automotive Exhaust Sensor Sales via Aftermarkets
• Automotive Exhaust Sensor by Region :
o North America Automotive Exhaust Sensor Market
o Latin America Automotive Exhaust Sensor Market
o Europe Automotive Exhaust Sensor Market
o Japan Automotive Exhaust Sensor Market
o APEJ Automotive Exhaust Sensor Market
o Middle East & Africa Automotive Exhaust Sensor Market
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Key Takeaways from the Market Study
• By 2022, Fact.MR estimates the automotive exhaust sensor market to reach US$ 27 Billion
• China is expected to register a 2.7% CAGR with regard to the automotive exhaust sensor industry
• Japan is expected to document a CAGR worth 2.5% in the automotive exhaust sensor market
• Gasoline engines will continue to dominate the worldwide automotive exhaust sensor market, accumulating a 44% revenue share
• On the basis of sales channel, OEMs are likely to lead the market with a 2.9% CAGR.
“Passenger Vehicle holds the largest market share in the vehicle category and due to the Introduction of stringent emission norms, it’s a compulsion for passenger vehicles to install an automotive exhaust sensor which will further surge up the demand for the latter”, says a Fact.MR
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The ubiquitous market for automotive exhaust sensors is extremely competitive and fragmented, owing to the presence of multiple international and regional market participants globally. With foreign firms focusing on expanding their market reach, regional suppliers find it difficult to compete on the basis of product safety, cost, and quality. Faurecia S.A., Benteler International AG, Yutaka Giken Co., Eberspächer Group, Tenneco Inc., Friedrich Boysen GmbH & Co. KG, Futaba Industrial Co., Ltd., Ltd., Bosal International N.V., SANGO Co., Ltd., Harbin Airui Automotive Exhaust Systems Co., Ltd., and Sejong Industrial Co., Ltd. are among the proactive companies profiled in the report.
• Faurecia, a French automotive supplier, finalized its acquisition of Hella, a German automotive lighting and sensor provider, at the end of January, a deal initially announced in August 2021.
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Fact.MR, in its new offering, presents an unbiased analysis of the global automotive exhaust sensor market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022 to 2032.
The study reveals essential insights on the basis of vehicle type (passenger cars, light commercial vehicles and heavy commercial vehicles), engine type (gasoline and diesel) and sales channel (OEM and aftermarket) across six major regions
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This news story originally appeared at Automotive - Reality Syndicate Viewers on 25 May 2022