Automotive Oxygen Sensor market size is valued at US$ XX million in 2019 and is projected to register a CAGR of 3.8% during the forecast period. It is an electronic device that precisely measures the amount of oxygen in exhaust sensors. It then sends the signal to car processing unit and ensure engine is not running too rich or too lean, thereby maintaining fuel to air ratio. The device was discovered in 1960 by Robert Bosch GmbH. Since then, it has become integral to automotive exhaust systems.
Key Factors Driving the Global Oxygen Sensor Market Revenue
The industry is driven by a range of macroeconomic and product level drivers along with regulatory compliances and business distribution patterns.
- Miniaturization of integrated circuits is expected to create next-gen oxygen sensors that are capable of performing in very high temperature. Microfibration technology is also being implemented to develop state of art sensors for OEMs. Such technological advancement will provide growth to the overall O2 sensor market.
- Stringent regulatory compliances mandating proper checks of carbon emissions from automobiles is fueling the demand for O2 sensors. According to estimates, transport is the biggest source of carbon emissions worldwide. In EU, over 27% of total carbon emission is generated from automotive and transport sector. Oxygen sensors has played a key role in overall sustainability.
- While the automotive oxygen sensor market will continue to register significant growth, contaminants in the exhaust and excessive amount of unburned fuel systems damages the sensor. Replacement is a major concern in the industry.
Global Oxygen Sensor Market Analysis, by Sales Channel
OEM will dominate the global share with 86% market share in 2018
Oxygen sensors are primarily sold to vehicle manufacturer. This is a B2B oriented industry. As such, the O2 sensor manufacturer enters in long term contract to provide sensors to OEM. Aftermarket will continue to register impressive growth. These sensors are placed close to exhaust system and are exposed to a very high temperature. This led to deterioration of O2 sensors over the time period. On an average, O2 sensors last between 70,000 to 100,000 kilometers. This creates opportunity for aftermarket vendors to sell oxygen sensor to end-use customers.
Global Automotive Oxygen Sensor Market Value Analysis, by Vehicle Type
Passenger vehicle segment is expected to account for 71% of total market by 2028.
Automotive oxygen sensors are fitted across commercial and passenger vehicles. Passenger vehicle dominated the global market in 2018. This is primarily attributed to higher sales of cars worldwide especially in China and India. Advanced safety checks in passenger vehicles will further boost the sales of O2 sensors worldwide.
Global Automotive Oxygen Sensor Market Size and Forecast: Regional Analysis
Asia Pacific Oxygen Sensor market accounted for 43% of global sales in 2018
Unlike North America and Western Europe, which are characterized by highly matured market, Asia Pacific offers huge market opportunity in terms of revenue generation. Automotive industry is flourishing in the region and is growing at a very good pace. The region not only dominates the global sales, but is also the leading manufacturer of automotive vehicles. As such, the whole ecosystem is registering impressive growth. China and Japan are the major market for O2 sensors manufacturer.
North America and Western Europe are highly matured market and is projected to register sluggish growth throughout the forecast period (2018-2028). Introduction of Euro VI norms is expected to fuel the ecosystem in Europe.
Global Automotive Oxygen Sensor Market Size and Forecast: Competition Landscape
The industry is characterized by presence of large number of midsize players. These players largely runs on contract based business model. Overall, the market is highly fragmented and degree of competition is very high. Global players focuses on product specification and direct distribution network in order to stay agile. Some key Automotive Oxygen Sensor market players are:
- Robert Bosch GmbH
- Continental AG
- NGK Spark Plugs
- Delphi Automotive
- .Infineon Technologies AG
- Analog Devices Inc
- Denso Corporation
By Vehicle Type:
- Passenger Cars
- Compact Car
- Commercial Vehicle
- Light Weight Vehicle
- Heavy Duty Vehicle
By Sales Channel:
By Product Type:
- Zirconia Sensor
- Titania Sensor
- Wideband Zirconia Sensor
What Will You Discover in the Report?
- An in-depth analysis of the Automotive Oxygen Sensor market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Automotive Oxygen Sensor market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Automotive Oxygen Sensor market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Automotive Oxygen Sensor industry during the forecast period
- Who are the Automotive Oxygen Sensor industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- Automotive Oxygen Sensor Industry Suppliers
- Automotive Oxygen Sensor Industry Manufacturers
- Consultants and Analysts
- Industry Specialists
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