The global automotive exhaust gas sensors market is expected to post a CAGR of over 6% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of this market is the increase in demand for automobiles. Automobiles provide profound mobility to individuals and are often considered as status symbols. With increasing purchasing power, the consumer demand for new and better vehicles will likely rise. With the rise in the number of vehicles plying on the roads, environmental and health concerns associated with exhaust gases are also increasing. To address these issues, vehicle manufacturers are compelled to provide newly launched automobiles with exhaust sensors.
This market research report on the global automotive exhaust gas sensors market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of MEMS technology and NESM as two of the key emerging trends in the global automotive exhaust gas sensors market:
Global automotive exhaust gas sensors market: Development of MEMS technology and NESM
The introduction of micro-electromechanical systems and electromechanical systems, ranging from a few microns to millimeters in size, led to the development of microsensors and actuators. With MESM, developers have been able to manufacture sensors for measuring temperature, pressure, inertial forces, chemical species, magnetic fields, and radiation. Many sensors manufactured based on MESM technology have showcased better performance when compared with macro-sized sensors. With a relatively smaller size, microsensors have an advantage of low per-unit production costs.
MESM sensors can be used for nanotechnology applications owing to smaller sizes and surfaces. MESMs use self-assembled monolayers to treat the surface of moving MESM parts using coatings. With further developments, working components and systems of nanometer sizes can be developed. These devices are called nanoelectromechanical systems, says a senior analyst at Technavio for research on automotive components.
Global automotive exhaust gas sensors market: Segmentation analysis
This market research report segments the global automotive exhaust gas sensors market by end-user (passenger cars and commercial vehicles) and geographical regions (APAC, EMEA, and the Americas).
The passenger cars segment held the largest market share in 2017, accounting for nearly 77% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 54%. This region is expected to dominate the market through 2022, with an increase in its market share by nearly 3%.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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