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The Automotive Exhaust Gas Sensors Market Size is estimated to grow by USD 10,392.13 million at a CAGR of 6.72% between 2022 and 2027. The growth of the market depends on several factors, including an increase in demand for automobiles, the development of new sensor designs and technology, and the adoption of strict emission norms.
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The increase in demand for automobiles is notably driving the market growth, although factors such as the rise in the adoption of electric vehicles may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market growth is being driven notably by the increasing demand for automobiles. In today's scenario, automobiles are considered status symbols and provide much-needed mobility to individuals. With increasing purchasing power, consumers are likely to demand new and improved vehicles. However, the rise in the number of vehicles on the roads is also leading to concerns about environmental and health issues related to exhaust gases. To address these concerns, vehicle manufacturers are integrating exhaust gas sensors into their new models.
Moreover, the development of efficient exhaust systems, such as those enabled with Eberspaecher ActiveSilence technology, is expected to drive the market further. This technology cancels out vehicle-generated noise by creating external sound waves in the exhaust system, resulting in a reduction in noise pollution and exhaust backpressure, which leads to better emission compliance. Additionally, the adoption of close-coupled SCR systems and particulate filters for gasoline engines can further reduce vehicle exhaust emissions. As a result, these factors are expected to boost the global market growth during the forecast period.
The emergence of MEMS technology and nanoelectromechanical systems (NESM) is one of the significant market trends. MEMS technology, which involves the development of microsensors and actuators ranging from a few microns to millimeters in size, has revolutionized the industry. MEMS developers have been able to manufacture sensors that can measure temperature, pressure, inertial forces, chemical species, magnetic fields, and radiation with superior performance compared to macro-sized sensors.
In addition to better performance, MEMS sensors also offer lower per-unit production costs due to their smaller size and surfaces. These sensors can also be used for nanotechnology applications, making them suitable for various industries. By treating the surfaces of moving MEMS parts using coatings such as self-assembled monolayers (SAM), working components and systems of nanometer sizes can be developed. As a result, the growth of the global market is expected to be fueled by these factors during the forecast period.
The rise in the adoption of electric vehicles is a major challenge impeding the market. Conventional automobiles that run on fossil fuels are the major contributors to airborne pollutants and greenhouse gases. They produce harmful gases, including NOx, HCs, CO, and CO2. These emissions can be detrimental to public health and the environment if they are not controlled with effective measures. Electric vehicles (EVs) are considered a viable option to overcome this issue. EVs that are powered by lithium batteries do not produce any flue gases. Therefore, they can eliminate the need for exhaust gas sensors in the market.
EVs are becoming a trend, they registered a 60% year-over-year growth in 2015. Governments are also increasingly favoring the adoption of EVs in their respective countries. For example, the US is promoting the adoption of EVs by introducing policies, such as providing tax credit benefits for the purchase of new EVs. With technological developments and improvements, the prices of batteries and EVs are expected to decrease and will be on par with conventional automobiles. Hence, EVs can pose a challenge to conventional automobiles, which, in turn, will affect the demand for exhaust gas sensors. Therefore, such factors will hinder the growth of the market during the forecast period.
The market growth and forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Tenneco Inc. - The company's key offerings include automotive exhaust gas sensors.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, robust, tentative, and weak.
The market share growth by the oxygen sensors segment will be significant during the forecast period. Oxygens sensors play a vital role in monitoring and reducing exhaust gas emissions. Automobile manufacturers adopt oxygen sensors to monitor emissions by controlling the A/F mixture. Oxygen sensors also work along the ECM to control the vehicle's performance and have an effective emission control system in place.
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The oxygen sensor segment was valued at USD 7,938.97 million in 2017 and continued to grow until 2021. Oxygen sensors are closed-loop sensors that detect oxygen molecules coming out of exhaust systems to determine if the mixture in the engine is rich or lean. When a rich ratio is detected based on the oxygen content of exhaust gases, the ECM commands the engine to have the next injection cycle as lean, based on its calculations, to reduce hydrocarbons. Similarly, in the case of a lean mixture, the ECM commands the engine to intake more fuel for the A/F mixture, thus reducing the NOx produced. Since their introduction, these sensors have become the standard equipment in vehicles.
Furthermore, the increase in regulatory compliance has led to a rise in the number of oxygen sensors and has made these sensors mandatory in automobiles. These sensors can also help maintain peak engine performance and minimize the risk associated with catalytic converters in vehicles. They provide efficient fuel economy and engine performance. As the number of vehicles manufactured rises, the number of oxygen sensors employed will also increase. Therefore, factors like these will lead to segment growth during the forecast period.
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APAC is estimated to contribute 72% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the 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. This provides numerous market opportunities for automobiles, thus attracting automobile manufacturers to the region. It also motivates global automobile manufacturers to enter regional markets and provide automobiles with technological features in regions such as Europe and North America.
Additionally, rapid industrialization and investments in infrastructure in Malaysia, Indonesia, China, and India will also contribute to the demand for commercial automobiles in the market. The rise of the urban segment in these countries will increase the demand for passenger cars, thus driving the demand. Therefore, all these factors will fuel the regional market growth and trends during the forecast period.
The automotive exhaust gas sensors market is crucial in controlling vehicular emissions, aligning with stringent norms and regulations worldwide to curb greenhouse effects. With increasing sales of automotive vehicles, the demand for these sensors rises to monitor emission levels effectively. Engine control units (ECUs) rely on various types of sensors including MAP/MAF, exhaust pressure & temperature, engine coolant temperature, and NOx sensors to optimize engine performance and reduce pollution. Automotive companies heavily invest in research and development to advance sensor technology, preventing overheating and damage to vehicular components. These sensors cater to diverse vehicle types across different regions, ensuring compliance with environmental standards and promoting sustainable transportation.
The market growth analysis report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Market Report Coverage |
Details |
Page number |
185 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.72% |
Market growth 2023-2027 |
USD 10,392.13 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.05 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 72% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market trends and analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
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 Vendor Landscape
12 Vendor Analysis
13 Appendix
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