Technavio's research study provides comprehensive information on the factors affecting the growth of the automotive exhaust gas sensors market across the following regions.
- APAC
- Europe
- North America
- South America
- MEA
Automotive Exhaust Gas Sensors Market in North America:
"North America occupied about 33% of the market share in 2020 and the region is offering significant growth opportunities for market vendors. The high rate of commercial activities in countries such as the US and Canada has increased the adoption of commercial vehicles. In addition, the need to comply with stringent regulatory norms is likely to drive the demand for automotive exhaust gas sensors in the region over the forecast period," says a senior analyst at Technavio.
Factors such as the high adoption of passenger vehicles and increasing health and environmental issues will be crucial in driving the growth of the market in North America. The revenue contribution to the market in North America will be maximum from the US and Mexico.
Automotive Exhaust Gas Sensors Market in Europe:
"Most of the freight transportation in Europe is done through road. This is increasing the adoption of HCVs and LCVs. The nature of fuels used in these vehicles is increasing the NOx levels in Europe. This growing concern is increasing the use of NOx sensors in the European market," says a senior analyst at Technavio.
The market is expected to register a 2.64% CAGR in Europe during 2021-2025. Factors such as the presence of major automobile manufacturers and the increased adoption of environment-friendly automotive technologies will be crucial in driving the automotive exhaust gas sensors market growth in Europe. The revenue contribution to the market in North America will be maximum from Germany.
Automotive Exhaust Gas Sensors Market in APAC:
"The high population density and increasing consumer disposable income in countries such as China and India are attracting investments by global automotive brands. In addition, the adoption of vehicle scrappage policy by India in 2020 is expected to create an influx of new energy-efficient vehicles. Many such factors will foster the market growth in APAC," says a senior analyst at Technavio.
The market is expected to register a 2.52% CAGR in APAC during the forecast period. The increasing sales of passenger cars in India, China, and Southeast Asian countries, such as Thailand and Malaysia will fuel the growth of the automotive exhaust gas sensors market in APAC. China and Japan the major markets for automotive exhaust gas sensors in the region.
Know about the major factors impacting the growth of the market across other regions by downloading our free sample report:
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The global automotive exhaust gas sensors market is driven by the following factors:
- Increase in demand for automobiles
- Development of new sensor designs and technology
- Adoption of strict emission norms
Based on the product, the report segments the automotive exhaust gas sensors market by NOx sensor, oxygen sensor, differential pressure sensor, temperature sensor, and particulate matter sensor.
The NOx sensor segment registered maximum growth in the market in 2020. The segment is driven by the implementation of stricter emission norms across the world. Also, an increase in the number of passenger vehicles produced globally will contribute to the growth of the segment during the forecast period.
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Top vendors highlighted in the Automotive exhaust gas sensors Market Report:
The report offers insights on key products offered and business strategies adopted by major vendors including,
- Analog Devices Inc.
- Continental AG
- Delphi Technologies Plc
- DENSO Corp.
- Emerson Electric Co.
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Report: www.technavio.com/report/automotive-exhaust-gas-sensors-market-industry-analysis
SOURCE Technavio
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