Automotive Exhaust Sensor Market Outlook and Opportunities in Grooming Regions

Posted on 2019-08-13 by Mark Hub in Industrial // 0 Comments

Global automotive exhaust sensor market will record a CAGR of 3.5% during the forecast period 2017 to 2026, as projected by a recent Fact.MR report. Nearly US$ 2,000 Mn worth of automotive exhaust sensors are estimated to be sold globally by 2026-end. 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 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 21^st 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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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.

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.

Key Projections on Future of Automotive Exhaust Sensor Market for Forecast Period 2017-2026 (In Terms of Volume)

Automotive exhaust sensors are expected to exhibit the largest sales in North America, trailed by Europe and Asia-Pacific excluding Japan (APEJ). However, sales of automotive exhaust sensors in Europe will increase at a relatively higher CAGR than that in APEJ and North America through 2026.
Middle East & Africa and Latin America are anticipated to remain the fast-expanding markets for automotive exhaust sensor. In contrast, the market in Japan will exhibit a sluggish expansion through 2026.
Automotive exhaust sensors are likely to witness huge demand from passenger cars and heavy commercial vehicles, with sales in these two vehicle type segments collectively estimated to exceed 120,000,000 units by 2026-end.
Not much difference in CAGRs is expected regarding sales of automotive exhaust sensors in passenger cars, heavy commercial vehicles and light commercials vehicles, with light commercial vehicles projected to exhibit the highest CAGR through 2026.

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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