LONDON--(BUSINESS WIRE)--The global automotive exhaust gas sensors market is expected to grow by USD 8.21 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The increase in demand for automobiles is expected to be a key factor behind the growth of the market. With increasing purchasing power, the consumer demand for new and better vehicles is expected to increase significantly. However, the rise in the number of vehicles plying on roads has led to environmental and health concerns associated with exhaust gases. To mitigate these concerns, vehicle manufacturers are installing exhaust sensors in new models of automobiles. Thus, the increase in demand for high-end automobiles is expected to boost the growth of the exhaust sensors market over the forecast period.
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As per Technavio, the development of MEMS technology and NESM will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Automotive Exhaust Gas Sensors Market : Development of MEMS Technology and NESM
The introduction of micro-electromechanical systems and electromechanical systems, ranging from a few microns to millimeters in size, has led to the development of microsensors and actuators. With MEMS, developers have been able to manufacture sensors for measuring temperature, pressure, inertial forces, chemical species, magnetic fields, and radiation. Many sensors manufactured based on MEMS technology have showcased better performance when compared with macro-sized sensors. Microsensors also have the advantage of low per-unit production costs. With further developments, working components and systems of nanometer sizes can be developed. These devices are called nanoelectromechanical systems (NESM). They can provide high mechanical responsivity and require low power for operation. Thus, the development of MEMS technology and NESM will drive the growth of the market.
“Factors such as the integration of cloud with OBD, and the development of new sensor designs and technology will have a positive impact on the growth of the automotive exhaust gas sensors market value during the forecast period,” says a senior analyst at Technavio.
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Automotive Exhaust Gas Sensors Market: Segmentation Analysis
This market research report segments the automotive exhaust gas sensors market by product (NOx sensor, oxygen sensor, differential pressure sensor, temperature sensor and particulate matter sensor), end-user (passenger cars and commercial vehicles), and geography (APAC, Europe, MEA, North America and South America).
The North American region led the automotive exhaust gas sensors market in 2019, followed by Europe, APAC, South America and MEA. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the high rate of commercial activities and the rising use of gasoline particulate filters and particulate sensors owing to growing focus on particulate matter emissions.
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Some of the key topics covered in the report include:
- NOx sensor
- Oxygen sensor
- Differential pressure sensor
- Temperature sensor
- Particulate matter sensor
- Passenger cars
- Commercial vehicles
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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