Press release
Rising Vehicle Production Fuels Growth In The Automotive Oxygen Sensor Market: Key Factor Driving The Growth In The Automotive Oxygen Sensor Market
Automotive Oxygen Sensor Market
What Is the Expected Automotive Oxygen Sensor Market Size During the Forecast Period?
The automotive oxygen sensor market has experienced robust growth in recent years. It is projected to increase from $8.44 billion in 2024 to $9.12 billion in 2025, with a CAGR of 8.0%. The market is expanding due to the growing emphasis on fuel economy, rising consumer awareness, the growth of automotive manufacturing, and increasing diesel engine production.
The automotive oxygen sensor market will grow to $12.27 billion in 2029 at a CAGR of 7.7%, driven by vehicle health monitoring, cleaner tech demand, and autonomous vehicle growth. Trends include wideband sensors, material innovations, and integrated solutions.
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What Are the High-Growth Segments in the Automotive Oxygen Sensor Market?
The automotive oxygen sensor market covered in this report is segmented -
1) By Product Type: Binary Exhaust Gas Oxygen Sensors, Universal Exhaust Gas Oxygen Sensors
2) By Design Type: Ginger, Planar
3) By Sales Channel: Original Equipment Manufacturer (OEM), Original Equipment Supplier (OES), Independent Automotive Supplier (IAS)
4) By Application: Gasoline Fueled Vehicle, Diesel-Fueled Vehicle
5) By End Use: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
Subsegments:
1) By Binary Exhaust Gas Oxygen Sensors: Zirconia-Based Binary Oxygen Sensors, Titania-Based Binary Oxygen Sensors, Narrowband Binary Oxygen Sensors, Wideband Binary Oxygen Sensors, Pre-Catalytic And Post-Catalytic Oxygen Sensors
2) By Universal Exhaust Gas Oxygen Sensors: Universal Fit O2 Sensors, Heated Universal Oxygen Sensors, Non-Heated Universal Oxygen Sensors, Direct Replacement Universal Oxygen Sensors, Universal Oxygen Sensors For Specific Vehicle Models
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What Key Drivers Are Expected to Influence Future Automotive Oxygen Sensor Market Growth?
The rising vehicle production is expected to contribute to the growth of the automotive oxygen sensor market. The increased production of vehicles is driven by global demand for transportation and economic growth. Automotive oxygen sensors are used to optimize fuel efficiency and emissions control in vehicles. The European Automobile Manufacturers Association reported a 5.7% increase in global vehicle production from 2021 to 2022, reaching 85.4 million units. Therefore, the rising vehicle production is supporting the automotive oxygen sensor market.
Which Companies Hold the Largest Share Across Different Automotive Oxygen Sensor Market Segments?
Major companies operating in the automotive oxygen sensor market are The Bosch Group, Hitachi Ltd., DENSO Corporation, Valeo S.A, STMicroelectronics NV, BorgWarner Inc., Hella GmbH And Co. KGaA, AMETEK Inc., Teledyne Technologies, Fujikura Ltd., Niterra Co. Ltd., Standard Motor Products Inc., Sensirion AG, United Automotive Electronic Systems (UAES), Cubic Sensor and Instrument Co.Ltd., Walker Products Inc., City Technology Ltd., Facet S.r.l., Continental Automotive Systems, Hyundai Kefico Corporation, SJG Sejong Co. Ltd., Horiba Ltd.
What Are the Latest Developing Trends in the Automotive Oxygen Sensor Market?
Companies in the automotive oxygen sensor market are prioritizing advancements such as wideband oxygen sensors to stay competitive. These sensors provide vital feedback to the engine control unit (ECU), helping optimize the air-fuel ratio and improving fuel efficiency while reducing emissions. In December 2023, Niterra Co., Ltd., a Japanese company, added 35 advanced oxygen sensors to its NTK Vehicle Electronics brand. These sensors, featuring zirconia sensing elements, generate voltage output in response to oxygen concentration, ensuring precise air-fuel ratio monitoring.
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What Are the Emerging Geographies for The Automotive Oxygen Sensor Market Growth?
North America was the largest region in the automotive oxygen sensor market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive oxygen sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Oxygen Sensor Market?
2. What is the CAGR expected in the Automotive Oxygen Sensor Market?
3. What Are the Key Innovations Transforming the Automotive Oxygen Sensor Industry?
4. Which Region Is Leading the Automotive Oxygen Sensor Market?
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