NEW YORK, Jan. 15, 2024 /PRNewswire/ — The automotive exhaust gas sensors market is estimated to grow by USD 10.4 billion from 2022 to 2027, growing at a CAGR of 6.72%. The automotive exhaust gas sensors market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive exhaust gas sensors market are ABB Ltd., Analog Devices Inc., Broadcom Inc., Continental AG, Delphi Technologies Plc, DENSO Corp., Emerson Electric Co., Faurecia, HELLA GmbH and Co. KGaA, Hitachi Ltd., Honeywell International Inc., Hyundai Motor Co., Infineon Technologies AG, MS Motorservice International GmbH, NGK SPARK PLUG Co. Ltd., Robert Bosch GmbH, Sensata Technologies Inc, Stoneridge Inc., Tenneco Inc., and Tohoku Shibaura Electronics Co. Ltd.
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Tenneco Inc. – The company operates under multiple segments including performance solutions, and clean air, among others, with a high focus on performance solutions. The company under this segment designs, manufactures, markets, and distributes a variety of products and systems designed to optimize the ride experience to a global OE customer base. The company’s key offerings include automotive exhaust gas sensors.
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By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa. APAC will have the largest share of the market.
APAC accounts for 72% to the growth of the global market during the forecast period. China, Japan, India, and South Korea are the major contributors to the market in APAC. China and India are expected to be the major drivers for the growth of exhaust gas sensors because of their high population density and increasing consumer disposable income.
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- Impactful driver- Increase in demand for automobiles
- Key Trend – Emergence of MEMS technology and nanoelectromechanical systems (NESM)
- Major Challenges – Rise in the adoption of electric vehicles
The market share growth by the oxygen sensor segment will be significant during the forecast period. Oxygen sensors play a crucial role in the monitoring and mitigation of exhaust gas emissions. Automotive manufacturers incorporate oxygen sensors to oversee emissions by regulating the Air/Fuel (A/F) mixture. These sensors also collaborate with the Engine Control Module (ECM) to manage the vehicle’s performance and ensure the implementation of an efficient emission control system.
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The Automotive Exhaust Gas Sensors market is witnessing significant growth driven by increasing regulatory compliance and environmental concerns. Oxygen Sensors (O2), Nitrogen Oxide Sensors (NOx), and Carbon Monoxide Sensors (CO) play pivotal roles in ensuring compliance with stringent Emissions Standards such as Euro 6 and EPA regulations. Innovations in Sensor Technology, including Wideband Sensors and Particulate Matter Sensors (PM), contribute to enhanced sensor performance. Additionally, advancements in Automotive Electronics, IoT integration, and Real-Time Monitoring Systems further boost efficiency and compliance. Automotive Aftermarket demand, catalyzed by Sensor Calibration needs, and the integration of Telematics showcase key trends shaping the future of the Automotive Exhaust Gas Sensors market within the dynamic automotive industry.
The commercial vehicle retarder market is forecast to increase by USD 356.82 million at a CAGR of 4.4% between 2023 and 2028.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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