Published Date : Aug 06, 2018
Albany, New York, Aug 6, 2018: The global market for exhaust sensors has been expanding alongside the rising number of initiatives to control air pollution. Emissions from automobiles are a major contributor to the rising levels of air pollution across the globe. Nitrogen oxide and carbon monoxide are two of the main components of the emissions of automobiles, and it has become extremely vital to tone down on the volume of these gases in the air. Exhaust sensors have come to the rescue of the environment by monitoring and controlling the emissions from automobiles, 02 sensors being the most popular one across the automobile industry. From passenger cars to HCVs, most of the automobiles use exhaust sensors to regulate emissions. The rising volume of harmful gases in the atmosphere has become a major cause of environmental pollution and occurrence of several chronic diseases. This has brought exhaust sensors to the fore of the automobile industry, and manufacturers are willing on spend the most advanced types of exhaust sensors available in the market. A report by Marker Research Reports (MRR) builds on the key forces operating in the global market for exhaust sensors. The title of the report is “Exhaust Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024”.
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Diesel-engine vehicles result in greater volume of emissions as against vehicles with other engine types. Hence, the rising demand for diesel engine vehicles due to their cost-effectiveness has necessitated the installation of exhaust sensors in these vehicles. Furthermore, the government has been pressing on the need to reduce automobile pollution and has stipulated strict laws and regulations with regards to the manufacture of vehicles. This has also played to the advantage of the global market for exhaust sensors and has given a launch pad to the growth of the market players. One of the extrinsic factors that have contributed to the growth of the global market is the increasing demand for automobiles across several industries. As the sale of automobiles increases, the demand for exhaust sensors would also experience a surge in the coming years. Despite the pros for the global market, the advent of electric vehicles is expected to bring down the demand for exhuats sensors.
Based on regions, the demand for exhaust sensors has been the highest in Asia Pacific due to the popularity of passenger vehicles in India and China. However, laws and regulations with regards to automobile emissions are stricter in Europe and America. This has played to the advantage of these regional markets that are expected to flourish in the forthcoming years.
Some of the key players in the global market for exhaust sensors are Hitachi Automotive Systems, Denso, and Robert Bosch.
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