The global remote automotive exhaust sensing market is expected to witness strong growth during the forecast period between 2021 and 2031. One of the key issues governments in prominent countries worldwide are looking to address is the increasing pollution levels, caused by emission of hazardous gases from different automobiles. As a result, they are looking for innovative solutions which would play a role in decreasing pollution levels and remote automotive exhaust sensing has proven beneficial in decreasing emissions from various automobiles.
COVID-19 pandemic negatively impacted growth in global remote automotive exhaust sensing market. With stringent social distancing regulations and lockdowns in prominent countries worldwide, vehicle production units were forced to shut down temporarily or permanently. This led to reduced sales of automobiles and in turn, decreased the demand for remote automotive exhaust sensing solutions.
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Remote Automotive Exhaust Sensing Market – Trends and Opportunities
Rising consumer awareness about automobile pollution is the key growth driver of global remote automotive exhaust sensing market. Also, increasing demand for fuel efficiency is anticipated to fuel the remote automotive exhaust sensing demand and help in creating revenue-generating opportunities for leading players in global market, in the coming years. In addition to this, growing implementation of stringent automobile regulations in leading economies globally could stimulate the growth in overall remote automotive exhaust sensing market, in the years ahead.
Other factors such as rapid urbanization, especially in developing economies and rising disposable income are also expected to contribute to market growth, in future. Software segment is expected to emerge as largest revenue contributor to overall remote automotive exhaust sensing market because of increasing demand to store data and convert the data into readable data in prominent countries worldwide.
Remote Automotive Exhaust Sensing Market – Competitive Landscape
Competition in overall remote automotive exhaust sensing market is intense owing to increased presence of well-established players. Many of these players are anticipated to hold a large share in overall market, in the coming years. Research and development activities to produce improved products could be key, revenue-generating growth strategy for leading players in future.
Launch of new remote automotive exhaust sensing devices could assist well-established remote automotive exhaust sensing market players gain a competitive edge over others and create revenue-generating opportunities. Signing collaborative agreements with smaller players could help leading remote automotive exhaust sensing market players in expanding their presence in overall market and increasing their revenue.
Hager Environmental and Atmospheric Technologies signed a three-year agreement with The International Council for Clean Transportation in August 2021 to install monitoring network to identify emissions using EDAR on roads in Scotland. Some of the prominent players in global market include Doppler Environmental Protection Technology Co. Ltd., Korea Environment Corp., Opus Group AB, and Hager Environmental & Atmospheric Technologies.
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Remote Automotive Exhaust Sensing Market – Regional Assessment
The global remote automotive exhaust sensing market is divided into five regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Asia Pacific is expected to emerge as maximum revenue-generating region in global market owing to increasing product adoption in a bid to counter worsening environmental conditions owing to increasing emissions from automobiles in countries such as India and China.
North America is anticipated to witness significant growth in overall market in the years ahead owing to presence of numerous prominent players in countries such as the U.S and Canada. Middle East and Africa are projected to witness substantial growth in overall remote automotive exhaust sensing market owing to increasing government initiatives and measures in countries such as Bahrain and Saudi Arabia. Other regions of the world such as Europe and Latin America are expected to witness moderate growth in global market, in the coming years.
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