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Miniaturization of integrated circuits has been providing a boost to the development of the automotive exhaust sensors since the recent past. Demand for microelectromechanical system (MEMS) sensors, miniaturized form of the conventional ICs that are manufactured with the aid of microfabrication technology, has been witnessing a substantial surge. Adoption of microfabrication technology enhances the accuracy and reliability of automotive exhaust sensors, meanwhile improving their efficiency, communication capabilities, response time, and robustness. Additionally, a large number of automotive exhaust sensor manufacturers are making enormous investments in research & development activities for coming up with better microfabrication technologies, which in turn will help them in boosting their revenue generation.
6 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.
- Gasoline will remain the dominant engine type segment in the global automotive exhaust sensor market, with sales forecast to reach approximately 98,000,000 units by 2026-end. However, automotive exhaust sensor sales for use in gasoline engines are likely to reflect a comparatively slower rise than that for use in diesel engine through 2026. Diesel engines will account for roughly 40% market share by 2026-end.
- OEMs are expected to spearhead the global automotive exhaust sensor market on the basis of sales channel. Sales of automotive exhaust sensors in OEMs are projected to hold more than half market share during the forecast period. However, OEMs are expected to witness a slight decline in their market share by 2026-end. Aftermarket is expected to emerge as the fast-expanding sales channel for automotive exhaust sensor through 2026.
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Nature of global market for automotive exhaust sensor is highly competitive as well as fragmented in light of numerous international & regional market players worldwide. With international players concentrating on expansion of their market reach, the regional vendors find it challenging in competing against them on the basis of product safety, cost, and quality. Proactive companies profiled by the report, who sustain expansion of the global automotive exhaust sensor market, include Faurecia S.A., Benteler International AG, Yutaka Giken Co., Eberspächer Group, Tenneco Inc., Friedrich Boysen GmbH & Co. KG, Futaba Industrial Co., Ltd., Ltd., Bosal International N.V., SANGO Co., Ltd., Harbin Airui Automotive Exhaust Systems Co. Ltd., and Sejong Industrial Co., Ltd.
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