Market Insights
“The exhaust Sensor market size was US$ 35 Billion in 2023 and is likely to grow at a decent CAGR of 1.5 % in the long run reaching US$ 40.7 Billion in 2032.”
Market Dynamics
Introduction
An exhaust Sensor is a device used in vehicles to monitor and measure the composition and temperature of exhaust gases emitted from the engine. These sensors provide critical data to the vehicle's engine control unit (ECU) to regulate fuel injection, combustion efficiency, and emissions control.
The global exhaust sensor market is witnessing strong growth due to the enforcement of stringent emission regulations, the rising adoption of advanced automotive technologies, and a heightened emphasis on reducing vehicle emissions. These sensors are vital for monitoring and managing exhaust gases from vehicles, ensuring adherence to environmental standards. They also play a key role in enhancing fuel efficiency, boosting engine performance, and minimizing harmful emissions. The market is categorized by fuel type, sensor type, and region, each shaping the demand and overall market growth.
Recent Market JVs and Acquisitions:
A decent number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:
- In October 2023, Purem AAPICO, a joint venture between Eberspaecher and AAPICO Hitech, inaugurated a new facility in Thailand. This facility manufactures exhaust systems for a major U.S. automotive manufacturer’s pickup truck, reflecting the ongoing demand for advanced exhaust technologies in the region.
- In May 2023, Cummins Inc. made a strategic move by announcing plans to acquire portions of FORVIA Faurecia's commercial vehicle exhaust after-treatment business. This acquisition spans plants in both the U.S. and Europe, further expanding Cummins' capabilities in exhaust systems and components.
Recent Product Development:
- In October 2023, Bosch introduced a new compact and cost-effective NOx sensor designed to comply with Euro 7 emission standards.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Fuel-Type Analysis
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Gasoline Fuel and Diesel Fuel
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The gasoline fuel segment is the largest and fastest-growing compared to Diesel Fuel, driven by a shift toward gasoline-powered vehicles and increasing emission regulations. Gasoline vehicles dominate in regions like North America and Asia-Pacific, particularly as several markets transition away from diesel due to tighter restrictions on diesel emissions.
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Sensor-Type Analysis
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Exhaust Gas Pressure Sensor, Exhaust Gas Temperature Sensor, Particulate Matter Sensor, Oxygen/Lambda Sensor, NOX Sensor, Engine Coolant Temperature Sensor, and MAP/MAF Sensor
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The NOx sensor is both the largest and the fastest-growing segment. This growth is driven by increasingly stringent global emissions regulations aimed at reducing nitrogen oxide (NOx) emissions, especially in regions like Europe, North America, and Asia-Pacific.
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Country Analysis or Region Analysis
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The USA, Canada, and Mexico or North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific leads the global market, driven by high automotive production and industrial growth in countries like China, India, and Japan. The presence of large tire manufacturers and increasing demand for industrial rubber products are further boosting the market.
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By Fuel Type
“The Gasoline Fuel segment tends to be larger and grow more quickly than the Diesel Fuel segment, largely due to a shift toward gasoline-powered vehicles and stricter emission regulations. In regions such as North America and Asia-Pacific, gasoline vehicles are prevalent, especially as various markets move away from diesel in response to more stringent diesel emission controls.
- Gasoline-powered vehicles require advanced sensors to meet environmental standards, and as a result, there has been a stronger demand for exhaust sensors in this segment.
- Also, with the phasing out of diesel engines in many parts of the world, gasoline engines are expected to maintain and expand their market share
By Sensor Type
“The NOx sensor segment is the largest and fastest-growing, fuelled by increasingly stringent global emissions regulations designed to cut nitrogen oxide (NOx) emissions, particularly in regions such as Europe, North America, and Asia-Pacific.
- NOx sensors are critical for diesel and gasoline vehicles to meet compliance standards such as Euro 6 and 7 in Europe and similar regulations worldwide.
- The NOx sensor segment continues to lead due to its critical function in controlling harmful nitrogen oxide emissions, which are a primary focus of modern emissions laws.
- Other significant and growing sensor types include the Oxygen/Lambda sensor, which plays a crucial role in optimizing fuel-air mixtures for improved fuel efficiency and reduced emissions.
Regional Analysis
“Asia-Pacific is the largest and fastest-growing market for Exhaust Sensor, driven by strong demand from the automotive industry.”
- The region has a rapidly expanding automotive industry, with increasing production and sales of vehicles, which drives demand for exhaust sensors.
- The region is seeing significant investments in automotive technology and innovation, including the development and integration of advanced exhaust sensors.
- Many countries in Asia-Pacific offer incentives for adopting cleaner technologies, which include upgrading vehicles with advanced exhaust emission control systems.
Key Players
The market is highly fragmented with the presence of over 500 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Exhaust Sensor market. Some of the major players are providing a complete range of Exhaust Sensor
Here is the list of the Top Players (Based on Dominance)
- Robert Bosch GmbH (Germany)
- Hitachi Astemo, Ltd. (Japan)
- Sensata Technologies, Inc. (U.S.)
- DENSO CORPORATION (Japan)
- HELLA GmbH & Co. KGaA (Germany)
- PHINIA Inc. (U.S.)
- Niterra North America, Inc (U.S.)
- Eberspächer (Germany)
- FORVIA HELLA (Germany)
Note: The above list does not necessarily include all the top players of the market.
Are you the leading player in this market? We would love to include your name. Write to us at [email protected]
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The global Exhaust Sensor market is segmented into the following categories.
Exhaust Sensor Market, by Fuel Type
- Gasoline Fuel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Diesel Fuel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Exhaust Sensor Market, by Sensor Type
- Exhaust Gas Pressure Sensor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Exhaust Gas Temperature Sensor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Particulate Matter Sensor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Oxygen/Lambda Sensor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- NOX Sensor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Engine Coolant Temperature Sensor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- MAP/MAF Sensor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Exhaust Sensor Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Exhaust Sensor market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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