Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Exhaust Sensors for Automotive Market.
According to the latest report by Market Research Future (MRFR), the global exhaust sensors for automotive market is slated to attain a significant market valuation at a steady CAGR over the review period.
The primary factor accountable for the growth of the global exhaust sensors for the automotive market are the increasing demand and the usage of electronics for safety, emission control, and luxury. Other factors influencing the market growth include the rising disposable income of consumers, which is leading to the increased demand for passenger cars. Strict emission norms across the globe are expected to impact the automotive industry to explore alternatives to decrease particulate matter, especially in diesel vehicles. This trend is likely to contribute towards the exhaust sensors for automotive market growth over the review period.
The global exhaust sensors for automotive market has been segmented based on the sensors, fuel, and vehicle. ON the basis of fuel, the exhaust sensors for automotive market has segmented into gasoline and diesel. Based on the sensors, the market has been segmented into exhaust temperature & pressure, engine coolant temperature, MAP/MAF sensors, O2, NOX, and particulate matter. By the vehicle type, the market has been segmented into heavy commercial vehicle (HCV), light commercial vehicle (LCV), and passenger car.
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Regionally, the global exhaust sensors for automotive market has been segmented into North America, Asia Pacific, Europe, and the rest of the world.
Among these, the North American region accounts for the largest exhaust sensors for automotive market and is poised to dominate the market share over the review period. This growth is driven by the presence of the automotive industry in the region, which is fuelled by the constant demand for passenger vehicles. The early adoption of advanced technologies has enabled the availability of hi-tech exhaust sensors that has upgraded automobiles. This has risen the application in the exhaust sensors for automotive market in North America and is expected to retain its surge over the review period. The developed countries such as the U.S. and Canada are the major contributors towards the growth of the exhaust sensors for automotive market in North America.
The European region is also one of the significant regions in the global exhaust sensors for automotive market and is expected to record a substantial market share over the review period. This market is expected to grow at a steady CAGR owing to the automotive industry in the region, which has reached a stage of maturity in terms of market growth. Moreover, the increasing government initiatives to reduce emission rates in the region are also expected to influence the demand for exhaust sensors positively over the review period. Established economies such as Germany, France, and the U.K., among others, are expected to grow as major contributors towards the exhaust sensors for automotive market share acquired in Europe over the review period.
The Asia Pacific is likely to account for the fastest-growing region in the global exhaust sensors for automotive market and is also expected to record a notable market share over the review period. This is attributed to the booming automotive industry in the region, driven by the massive demand for passenger vehicles in emerging economies such as India, China, Japan, among others. The population overgrowth in these countries along with changing economic dynamics has strengthened the automotive industry, subsequently driving the demand in the exhaust sensor market over the review period.
The key players identified by MRFR in the global exhaust sensors for automotive market include Delphi Co. (India), Continental AG (Germany),Denso Corporation (Japan), Hitachi Ltd (Japan), Hella KGAA Hueck & Co. (Germany), Infineon Technologies AG (Germany), Robert Bosch GmbH (Germany), Sensata Technologies Holding NV (USA), NGK Spark Plug Co. Ltd (Japan), and Stoneridge Inc (USA).