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Automotive Exhaust Sensor Market

Automotive Exhaust Sensor Market

Automotive Exhaust Sensor Market Analysis by Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), by Engine Type (Gasoline, Diesel), by Sales Channel (OEM, Aftermarket) and Region - Global Forecast 2022-2032

Automotive Exhaust Sensor Market
FACT474MR
  • May-2022
  • List of Tables : 56
  • List of Figures : 168
  • 170 Pages
  • Automotive

Automotive Exhaust Sensor Market Outlook (2022-2032)

The market for automotive exhaust sensor is expected to reach a value pool of US$ 37 Billion by the end of the projected period from 2022 to 2032. During the 2022-2032 period of assessment, demand is expected to rise at a 3.2% value CAGR.

Report Attributes Details

Anticipated Base Year Value (2021)

US$ 25 Billion

Expected Market Value (2022)

US$ 27 Billion

Projected Forecast Value (2032)

US$ 37 Billion

Global Growth Rate (2022-2032)

3.2% CAGR

Growth Rate of the U.S (2022-2032)

3% CAGR

Expected Market Value of China (2032)

US$ 12.2 Billion

Key Automotive Exhaust Sensor Service Providers

  • Sejong Industrial Co., Ltd.
  • Harbin Airui Automotive Exhaust Systems Co. Ltd.
  • Bosal International N.V.
  • SANGO Co., Ltd.
  • Yutaka Giken Co., Ltd.
  • Futaba Industrial Co., Ltd.
  • Benteler International AG
  • Friedrich Boysen GmbH & Co. KG
  • Eberspächer Group
  • Tenneco Inc.
  • Faurecia S.A.

As of 2022, the market is expected to reach a valuation of US$ 27 Billion. This represents a Y-o-Y increase of 8% from 2021, when the market was valued at US$ 25 Billion.

A significant trend identified in the worldwide automotive exhaust sensors market is the increased usage of MEMS sensors, which are a miniaturized version of typical integrated circuits made using micro-fabrication technology.

The top sensor manufacturers are expanding their R&D spending in order to create innovative micro-fabrication technologies that will assist drive the total revenue creation from the automotive exhaust sensors market. The general expansion of the automobile sector is driving the global market.

Furthermore, the growing need for fuel efficiency and rigorous vehicle emission standards is propelling the worldwide automotive exhaust sensors market forward. The implementation of rigorous vehicular rules in numerous countries across the world that require the installation of automotive exhaust sensors in vehicles to control air pollution is considerably supporting market growth.

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Automotive Exhaust Sensor Market Revenue Analysis 2015-2021 vs. Future Outlook 2022-2032

The miniaturization of integrated circuits is expected to spur the development of vehicle exhaust sensors in the near future. Adoption of microelectromechanical system (MEMS) sensors, a tiny variant of standard ICs produced using microfabrication technology, is skyrocketing. From 2015 to 2021, a CAGR of 4.3% was documented for the market.

The use of microfabrication technology improves the accuracy and reliability of automobile exhaust sensors while also improving their reaction time, efficiency, communication capabilities, and resilience. Prospects slowed down significant amid the COVID-19 pandemic. The cessation of automotive manufacturing due to stringent lockdowns negatively impacted demand, at least in 2020. A gradual resurgence has been observed since the latter half of 2021.

Furthermore, a big number of automotive exhaust sensor manufacturers are investing heavily in research and development efforts in order to create superior microfabrication technologies, which would help them increase revenue generating. According to a new Fact.MR study, the global market for automotive exhaust sensors will grow at a 3.2% CAGR in terms of value between 2022 and 2032.

Prominent Automotive Exhaust Sensor Industry Growth Drivers

Rise in Demand for Smaller Conventional Integrated Circuits Built Using Micro Fabrication Technology

The rising usage of a downsized form of conventional integrated circuits created utilizing micro fabrication technology is projected to see a significant increase in demand in the coming years. The use of micro fabrication technology allows automotive exhaust sensors to be more precise while also being more dependable.

It also improves their reaction speed, efficiency, communication capabilities, and robustness. Furthermore, the majority of the key automotive exhaust sensor manufacturers are investing heavily in research and development operations in order to create superior micro fabrication technologies, which are projected to drive market expansion.

Global Expansion of Car Sales Likely to Drive Growth of the Market

The expanding global automobile sales and production are expected to boost the growth of the automotive exhaust sensors market over the projected period. This is due to a rise in manufacturing facilities in most growing nations, including China, India, and Brazil.

The major companies in the automotive sector are also focusing on investing and expanding the business through various areas in order to increase profitability. Furthermore, the rising use of personal cars has increased worldwide automobile sales and production, which is likely to promote the expansion of the automotive exhaust sensors market.

Automotive exhaust Sensor market forecast by Fact.MR

Key Challenges Prevalent in the Global Automotive Exhaust Sensor Market

Increasing Popularity of Electric Vehicles may Impede Growth Prospects

The expensive cost of automotive sensors, along with the government's embrace of electric cars owing to environmental regulations, is projected to stymie industry growth.

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Country-wise Analysis

How do Growth Prospects appear in the Chinese Market?

The increased use of electronics in the automobile industry for safety, driving control, pollution control, and luxury may be directly related to the increased use of automotive exhaust sensors. A CAGR of 2.7% is projected for the Chinese market during the 2022-2032 period of assessment.

Sensors are an essential component of cars, and they play an important role in driving efficiency, safety, comfort, and pollution management. They are used in a variety of automotive applications, ranging from the engine through the exhaust system. The rising usage of electronics in the vehicle industry for safety, driving control, pollution control, and luxury may be directly attributable to the rise of automotive exhaust sensors.

The Chinese market is expected to be the greatest market for exhaust sensors. A sizable proportion of the region's population is made up of urban-based working young with plenty of disposable cash. This is fueling the region's automobile demand.

Country-wise Forecast CAGRs in the Automotive Exhaust Sensor Market

U.S

2.8%

U.K

2%

China

2.7%

Japan

2%

South Korea

2.3%

Category-wise Insights

Why is Demand for Gasoline Engines Rising Rapidly?

Automobile Exhaust Sensors will be in High Demand due to their Use in Gasoline Engines

According to Fact.MR, for usage in gasoline engines, automotive exhaust sensors will be in great demand. However, the increasing usage of diesel engines in industrialized countries has resulted in the recent fast acceptance of automotive exhaust sensors for use in these engines.

In terms of value, automotive exhaust sensors are expected to grow the quickest for usage in diesel engines through 2032. A revenue share of approximately 44% is projected for the gasoline segment during the said period of assessment.

Which Vehicle Type will Leverage Automotive Exhaust Sensor the Most?

The Global Automotive Exhaust Sensor Market will be dominated by Passenger Cars

Passenger cars, among vehicle type segments, will account for the lion's share of the worldwide automotive exhaust sensor market in terms of value. A CAGR of 3.3% is anticipated for the segment throughout the 2022-2032 period of assessment.

The dominance of passenger cars in the market can be attributed primarily to the introduction of stringent emission norms, which require installation of automotive exhaust sensors in passenger cars for controlling air pollutants.

Which is the Most Preferred Sales Channel?

OEMs are the Preferred Sales Channel

Although OEM remains the most profitable sales channel for automotive exhaust sensors, aftermarket sales are expected to grow at a higher rate through 2032.

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Competitive Landscape

Because of the existence of a significant number of international and regional competitors all over the world, the worldwide automotive exhaust sensor market is extremely competitive and fragmented. Regional businesses are finding it harder to compete with multinational competitors that are growing their worldwide footprint with greater product quality, affordability, and safety.

There is now a surge in demand for intelligent sensors in automobiles, allowing manufacturers to provide drivers with a greater degree of safety and security, dependability, and information and entertainment. Electronic device manufacturers are putting more sensors into their products in order to provide more functions and compete with other market participants. High competition in the electronic market, consistent improvement in electronic devices, and more automation in the automobile sector via electronic devices are expected to promote future growth in the automotive exhaust sensor business.

Among the key players actively contributing to market expansion are:

  • Sejong Industrial Co., Ltd.
  • Harbin Airui Automotive Exhaust Systems Co. Ltd.
  • Bosal International N.V.
  • SANGO Co., Ltd.
  • Yutaka Giken Co., Ltd.
  • Futaba Industrial Co., Ltd.
  • Benteler International AG
  • Friedrich Boysen GmbH & Co. KG
  • Eberspächer Group
  • Tenneco Inc.
  • Faurecia S.A.

Key Segments Covered in the Automotive Exhaust Sensor Industry Report

  • Automotive Exhaust Sensor by Vehicle Type :

    • Automotive Exhaust Sensor for Passenger Cars
    • Automotive Exhaust Sensor for Light Commercial Vehicles
    • Automotive Exhaust Sensor for Heavy Commercial Vehicles
  • Automotive Exhaust Sensor by Engine Type :

    • Gasoline Engine Automotive Exhaust Sensors
    • Diesel Engine Automotive Exhaust Sensors
  • Automotive Exhaust Sensor by Sales Channel :

    • Automotive Exhaust Sensor Sales via OEMs
    • Automotive Exhaust Sensor Sales via Aftermarkets
  • Automotive Exhaust Sensor by Region :

    • North America Automotive Exhaust Sensor Market
    • Latin America Automotive Exhaust Sensor Market
    • Europe Automotive Exhaust Sensor Market
    • Japan Automotive Exhaust Sensor Market
    • APEJ Automotive Exhaust Sensor Market
    • Middle East & Africa Automotive Exhaust Sensor Market

- FAQs -

As of 2021, Fact.MR estimated the Automotive Exhaust Sensor market to have reached US$ 25 Billion
By 2022, Fact.MR expected demand for automotive exhaust sensors to reach US$ 27 Billion
From 2015-2021, the automotive exhaust sensor market grew at a 4.3% value CAGR
From 2022-2032, automotive exhaust sensor demand is likely to surge at a 3.2% CAGR
By 2032, the market for Automotive Exhaust Sensor is likely to be valued at US$ 35 Billion
By 2032, Fact.MR expects the U.S market for automotive exhaust sensor to reach US$ 6 Billion
China is expected to register a 2.7% CAGR with regard to the Automotive Exhaust Sensor industry
Japan is expected to document a CAGR worth 2.5% in the Automotive Exhaust Sensor market
Passenger cars, will account for the lion's share of the worldwide automotive exhaust sensor market, surging at over 3% CAGR

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