Transparency Market Research
Automotive exhaust oxygen sensors are installed in the exhaust systems of vehicles to analyze the quantity of oxygen being released in the exhaust. The oxygen exhaust sensor is also known as a lambda sensor. The exhaust oxygen sensor is a part of the exhaust emission control system that analyzes the amount of oxygen and delivers the facts and figures to the control unit. Subsequently, the control unit analyzes the air-fuel ratio with the help of other sensors installed within the engine and exhaust system. Exhaust oxygen sensors are responsible for the proper functioning of the fuel injection system and formation of appropriate air-fuel mixture for complete combustion of fuel.
Demand for automotive exhaust oxygen sensors is estimated to increase at a significant rate owing to increasingly stringent emission norms. 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.
The global automotive exhaust oxygen sensor market can be segmented based on sensor type, vehicle, and region. Based on sensor type, the market can be 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.
In terms 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.
In terms of region, 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.
Major players operating in the global automotive exhaust oxygen sensor market include Robert Bosch GmbH, DENSO CORPORATION, Hella KGaA Hueck & Co., Sunrise Exhaust Ltd., SJ AUTOMOTIVE CO. LTD., and Federal-Mogul.
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