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. During the 2022-2032 period of assessment, demand is expected to rise at a 3.2% value CAGR. As of 2022, the market is expected to reach a valuation of US$ 27 Billion. This represents a Y-o-Y increase of 8% from 2021, when the market was valued at US$ 25 Billion.
A significant trend identified in the worldwide automotive exhaust sensors market is the increased usage of MEMS sensors, which are a miniaturized version of typical integrated circuits made using micro-fabrication technology. The top sensor manufacturers are expanding their R&D spending in order to create innovative micro-fabrication technologies that will assist drive the total revenue creation from the automotive exhaust sensors market. The general expansion of the automobile sector is driving the global market.
Furthermore, the growing need for fuel efficiency and rigorous vehicle emission standards is propelling the worldwide automotive exhaust sensors market forward. The implementation of rigorous vehicular rules in numerous countries across the world that require the installation of automotive exhaust sensors in vehicles to control air pollution is considerably supporting market growth.
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Prominent Automotive Exhaust Sensor Industry Growth Drivers
The rising usage of a downsized form of conventional integrated circuits created utilizing micro fabrication technology is projected to see a significant increase in demand in the coming years. The use of micro fabrication technology allows automotive exhaust sensors to be more precise while also being more dependable.
It also improves their reaction speed, efficiency, communication capabilities, and robustness. Furthermore, the majority of the key automotive exhaust sensor manufacturers are investing heavily in research and development operations in order to create superior micro fabrication technologies, which are projected to drive market expansion.The expanding global automobile sales and production are expected to boost the growth of the automotive exhaust sensors market over the projected period. This is due to a rise in manufacturing facilities in most growing nations, including China, India, and Brazil.
The major companies in the automotive sector are also focusing on investing and expanding the business through various areas in order to increase profitability. Furthermore, the rising use of personal cars has increased worldwide automobile sales and production, which is likely to promote the expansion of the automotive exhaust sensors market.
Competitive Landscape
Because of the existence of a significant number of international and regional competitors all over the world, the worldwide automotive exhaust sensor market is extremely competitive and fragmented. Regional businesses are finding it harder to compete with multinational competitors that are growing their worldwide footprint with greater product quality, affordability, and safety.
There is now a surge in demand for intelligent sensors in automobiles, allowing manufacturers to provide drivers with a greater degree of safety and security, dependability, and information and entertainment. Electronic device manufacturers are putting more sensors into their products in order to provide more functions and compete with other market participants. High competition in the electronic market, consistent improvement in electronic devices, and more automation in the automobile sector via electronic devices are expected to promote future growth in the automotive exhaust sensor business.
Among the key players actively contributing to market expansion are:
- 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.
- Faurecia S.A.
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Key Segments Covered in the Automotive Exhaust Sensor Industry Report
Automotive Exhaust Sensor by Vehicle Type :
- Automotive Exhaust Sensor for Passenger Cars
- Automotive Exhaust Sensor for Light Commercial Vehicles
- Automotive Exhaust Sensor for Heavy Commercial Vehicles
Automotive Exhaust Sensor by Engine Type :
- Gasoline Engine Automotive Exhaust Sensors
- Diesel Engine Automotive Exhaust Sensors
Automotive Exhaust Sensor by Sales Channel :
- Automotive Exhaust Sensor Sales via OEMs
- Automotive Exhaust Sensor Sales via Aftermarkets
Automotive Exhaust Sensor by Region :
- North America Automotive Exhaust Sensor Market
- Latin America Automotive Exhaust Sensor Market
- Europe Automotive Exhaust Sensor Market
- Japan Automotive Exhaust Sensor Market
- APEJ Automotive Exhaust Sensor Market
- Middle East & Africa Automotive Exhaust Sensor Market
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