Global Automotive Oxygen Sensor Market to Grow at a CAGR of 2.46% to 2021

MarketResearchNest.com adds “Global Automotive Oxygen Sensor Market 2017-2021” new report to its research database. The report spread across 68 pages with table and figures in it.
Research analysts forecast the global automotive oxygen sensor market to grow at a CAGR of 2.46% during the period 2017-2021.

About Automotive Oxygen Sensor
Automotive oxygen sensors are mainly used for determining the amount of unburnt oxygen in the exhaust gas after combustion. Modern vehicles following emission regulations equivalent to Euro 5 or USEPA emission standards are equipped with oxygen sensors in the exhaust tailpipes to determine the amount of air of fuel required for the next combustion cycle and for determining the effectiveness of the exhaust system of the vehicle. Automotive oxygen sensors detect whether the air-fuel mixture after combustion is lean or rich. If more fuel is used for a combustion cycle over the optimal mixture ratio of 14.7:1, then it results in high pollution and is called a rich mixture. Low amount of fuel and more amount of air result in a lean mixture, which forms harmful nitrogen oxide pollutants and undermines the engine's performance.

Covered in this report

The report covers the present scenario and the growth prospects of the global automotive oxygen sensor market for 2017-2021. To calculate the market size, the report considers the new installations, sales, and volume.

Browse full table of contents and data tables at https://www.marketresearchnest.com/global-automotive-oxygen-sensor-market-2017-2021.html

The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA

Technavio's report, Global Automotive Oxygen Sensor Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Technavio recognizes the following companies as the key players in the global automotive oxygen sensor market: Delphi, DENSO, and Robert Bosch

Other Prominent Vendors in the market are: Hyundai KEFICO, NGK, Pucheng Sensors, and United Automotive Electronic Systems

Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Titanium-based oxygen sensors to replace zirconium-based oxygen sensors. Titanium-based oxygen sensors are highly responsive than zirconium-based oxygen sensors. Titanium sensors are semiconductors, unlike zirconium sensors. The sensor varies electrical resistance in accordance with the amount of oxygen in the exhaust gas. Therefore, their operations are different as compared with zirconium sensors. Oxygen in exhaust gases is measured in terms of resistance where the resistance of the titanium changes with the amount of oxygen in the exhaust gas.

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According to the report, one of the major drivers for this market is Rising penetration of downsized engines. Downsized engines generate high amounts of heat due to lack of proper heat dissipation through constricted engine blocks. Increased amounts of heat would require high-density heat-resistant materials to be used in vehicles. Therefore, oxygen sensors that are used in vehicles with downsized engines should be manufactured with high-density heat-resistant materials to ensure their effectiveness. This will considerably increase the value of automotive oxygen sensors used in these vehicles.

Further, the report states that one of the major factors hindering the growth of this market is Rising prices of zirconium and titanium. The rising cost of chemicals like zirconium and titanium will increase the manufacturing cost of oxygen sensors. The rise in environmental cost, raw material mining cost, and energy cost is increasing the price of zirconium and titanium since 2015. Moreover, the increased demand for these chemicals has also contributed to the price increase since 2015. The majority of zirconium was obtained from Africa and Australia in 2016. Approximately 89% of the zirconium derivatives such as zirconium oxide, zirconium basic carbonate, and zirconium oxychloride are distilled and produced in China. Therefore, the rising labor costs in China will further compound the costs of manufacturing of automotive oxygen sensors.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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