Transparency Market Research in its new report titled, “Automotive Exhaust Oxygen Sensor Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the automotive exhaust oxygen sensor market. The TMR report anticipates that the increasingly stringent emission norms will drive the automotive exhaust oxygen sensor market during the forecast period i.e, 2018-2026. Rising global warming and risk of health hazards, due to high concentration of air pollutants, has prompted automakers to reduce the emission of pollutants from the vehicles and convert them into non harmful contents before leaving the exhaust system. However, rising emphasis of governments to boost the electric vehicles market is expected to hamper the exhaust oxygen sensor market, as electric vehicles do not require an exhaust system, says the report.
The TMR report has segmented the global automotive exhaust oxygen sensor market based on sensor type, vehicle, and region. In terms of sensor type, the market is segregated into two segments. Among them, binary sensor is estimated to be a leading segment of the market owing to its cost efficiency. Binary sensors generate electric signals based on the oxygen level in the exhaust and compare the oxygen content in the exhaust with the oxygen level of the surrounding air. The other segment is more precise in measuring the amount of oxygen; however, due to its high cost, it failed to gain higher popularity than the binary sensor segment. On the basis of vehicle, the passenger vehicle segment held a major share of the automotive exhaust oxygen sensor market due to high production of passenger vehicles, as compared to commercial vehicles. However, significantly expanding market of commercial vehicles is anticipated to boost the market share held by the commercial vehicle segment during the forecast period.
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On a geographical perspective, Asia Pacific is anticipated to hold a prominent share of the global automotive exhaust oxygen sensor market, followed by Europe. Higher number of manufacturing facilities in Asia Pacific, due to availability of the basic resources such as labor and raw materials, has boosted the automotive industry in the region. In Asia Pacific, China is a leading producer of vehicles; however, the government is restricting the production of the vehicles with exhaust systems and promoting electric vehicles due to rising congestion on roads and high pollution levels in the country. Therefore, the automotive exhaust oxygen sensor market in China is anticipated to contract during the forecast period. Some of the major players operating in the global automotive exhaust oxygen sensor market are profiled in this report to give a better competitive analysis of the market and these include Robert Bosch GmbH, DENSO CORPORATION, Hella KGaA Hueck & Co., Sunrise Exhaust Ltd., SJ AUTOMOTIVE CO. LTD., and Federal-Mogul.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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