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Increasing use of diesel engine vehicles is the key driver for the growth of exhaust sensors market as diesel engines release more particulate matter than gasoline engines. This has a negative impact on health of people and environment leading to increasing demand for exhaust sensors, diesel particulate filters, and exhaust gas recirculation. Low cost and efficiency of diesel are the factors which are increasing sales of diesel automobiles across the world. Another major driver for the exhaust sensors market is the government regulations on emission. Growing auto sales due to increased automobile sales is another factor leading to growth of exhaust sensors market. Rise in electronic content in automobiles is also driving the growth of exhaust sensors market.
Increasing trend of IC miniaturization is one of the factors augmenting the growth of exhaust sensors market. Deployment of safety systems like ADAS (advanced driver assistance systems) and AEB (auto emergency braking) will lead to the growth of the exhaust sensors market. Increasing use of microelectromechanical system (MEMS) is also leading to increase in exhaust sensors in market. Increasing demand for commercial vehicles will boost the exhaust sensor market. However rise in use of electric vehicles will limit the market growth.
Exhaust sensors market can be segmented based on type (O2 sensors, NOX sensors, particulate matter sensors, differential pressure sensors), vehicle type (passenger and commercial), and by geography. An oxygen sensor measures amount of oxygen in the exhaust gas, a good indication of combustion efficiency of engine and perfect ratio of fuel and air (also called stoichiometric ratio). Too much of oxygen in exhaust gas (indicating lean mixture) produces more nitrogen oxide leading to poor performance, misfire, and engine damage. Too little of oxygen (indicating rich mixture) wastes fuel and hence reduces economy. The oxygen sensors are located before catalytic converters in the exhaust manifolds. Previously only one oxygen sensor was fitted to monitor air and fuel mixture but now four or more oxygen sensors are integrated to check the converter’s efficiency.
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APAC is the largest market for exhaust sensors. Economic growth in countries like India and China is increasing demand for passenger cars which is further attracting automobile manufacturers to invest in technology hence increasing the demand for exhaust sensors. Emission regulations are more stringent in Europe and America than China and India but due to increasing concerns for environment pollution strict emission exhaust sensors market will be augmented. Second largest exhaust sensors market is North America. Europe and North America markets have already matured for exhaust sensors. UK, Germany, and France are the main contributors in Europe market.
Key vendors in the market include Continental, Delphi Automotive, Denso, Hitachi Automotive Systems, Robert Bosch, and Sensata Technologies. Other important vendors include Broadcom, ABB, Emerson Process Management, Analog devices, NGK Spark Plug, Faurecia, and Tenneco.