Automotive Emission Sensors Market Research Forecast 2020 to 2026! Know Why You Really Need it?
List of the key automotive emission sensors market manufacturers include:
Denso Corporation (Japan)
Continental AG (Germany)
Walker Products, Inc.
Robert Bosch GmbH (Germany)
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Highlights of the Report
The report on the automotive emission sensors market offers a comprehensive overview of the market with major industrial developments and key industry insights. It also discusses the competitive landscape of the market, the list of significant players, and the key strategies adopted by them to attract high automotive emission sensor market revenue in the forecast period. Moreover, the report discusses key drivers, restraints, challenges, and opportunities of the market. Apart from this, the report also presents other automotive emission sensor market trends that are prevalent in various regions.
O2-Lambda Sensors Segment to Hold Highest Share in Market
As per current automotive emission sensors market trends, various segments of the market include type, application, and region. The report classifies type segment into Particulate Matter Sensors, NOX sensors (Nitrogen Oxide sensor), and O2-Lambda Sensors. Among these, the O2-Lambda Sensors segment is dominating the market and holds the highest automotive emission sensors market share. This is owing to the persistent utilization of these sensors for measuring oxygen levels from the mixture in the vehicle.
With respect to application, the market is bifurcated into passenger cars and commercial vehicles. Out of these, the passenger car segment is holding the highest automotive emission sensors market share owing to the rise in sales and production of passenger cars especially from emerging nations such as India, South Korea, China and others.
Browse Report Summary:
Increasing Demand for Passenger Cars to Aid in Expansion of Market
The implementation of stringent environmental pollution norms around the world is a major automotive emission sensor market growth driver. Additionally, the increasing adoption of electrification in the automotive industry is also adding to the expansion of the market. There is a rise in the adoption of electric vehicles and its rising popularity is expected to increase the overall automotive emission sensors market size. There is also a rise in demand for passenger cars especially from the developing nations and this is further anticipated to promote the automotive emission sensors market growth in the forthcoming years.
Additionally, the rise in demand for telematics for use in vehicles is likely to help increase the overall automotive emission sensors market size in the coming years. With the help of GPS systems installed with on-board diagnostics, it is easier to track the speed of the car, along with its moving location. It also helps to keep track of the internal behavior of the car throughout the journey.
North America Emerges Dominant: Presence of Established Players Aiding Market Growth
On the basis of geographical segmentation, the automotive emission sensors market is widespread into four major regions namely Europe, North America, Asia Pacific, and the Rest of the world. As per a lead analyst at Fortune Business Insights(TM), the market is dominated by North America on account of the presence of established players in the region, along with high investments for research and development of emission sensor technologies. On the other side, the market is Europe is anticipated to witness a high growth rate on account of the strict regulations imposed on controlling vehicular emissions. Additionally, there is a surge in the adoption of telematics for automobiles in Europe and this is further expected to aid in the expansion of the regional market in the foreseeable future.
However, the market in Asia Pacific is likely to witness stable growth on account of the rising demand for passenger cars from emerging economies such as Japan, China, and India. The aforementioned nations are reinforcing the emission standards as per the norms followed by Europe and North America, and this will further help this nation witness progressive automotive emission sensors market revenue in the years to follow.
Vendors Making Huge Investments in Advanced Automotive Sensors for Better Revenue Generation
Automotive emission sensors market manufacturers are investing huge sums into the development of environment-friendly sensors for use in vehicles. Players are also adopting other strategies such as mergers and acquisitions, company collaborations, contracts, in order to increase the demand for advanced automotive emission sensors in the market.
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