Global Automotive Oxygen Sensor Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about 6.5% from 2020 to 2027, reaching nearly US$ XX Mn.
Global Automotive Oxygen Sensor Market: Overview
Currently, Automobile consists of various sensors to assist ECU to take input. These sensors are reacting with physical changes in oxygen level and record them. These records are gathered in ECU to take action accordingly. This Oxygen sensor is used to measure concentration of oxygen in internal combustion engine intake and also in the engine emission. This sensor checks whether the air fuel ratio is proper or not and adjust ratio according to that. Thus, the catalytic converter works efficiently. This oxygen sensor also measures the amount of oxygen in exhaust system of vehicle to ensure proper functioning of catalytic converter. Moreover, oxygen sensors are used in modern vehicle for better functioning of electronic fuel injection system and emission control.
Global Automotive Oxygen Sensor Market: Drivers
Increasing automotive market and demand for new advance vehicle is driving the growth of Global Automotive Oxygen Sensor Market. New technological development and adaptation of this technology in vehicle by manufacturers are expected to increase Global Automotive Oxygen Sensor Market.
Increasing fuel prices and demand for fuel efficient vehicles are also increasing, growing market for Global Automotive Oxygen Sensor Market.
Government all over the world are putting rules for reduction of emission, also vehicle emission norms are also getting severe, fueling the market of Global Automotive Oxygen Sensor.
Global Automotive Oxygen Sensor Market: Challenges
The Oxygen sensor is a complex system and is costlier to install in vehicle. Thus, midrange vehicle segment which is much cost effective does not include such technology.
Demand for electric vehicle is also increasing which may hamper the growth of Global Automotive Oxygen Sensor Market.
Global Automotive Oxygen Sensor Market: Regional Overview
The Global Automotive Oxygen Sensor Market is segmented region-wise into Asia Pacific, North America, Europe, South America, and Middle East & Africa. Asia Pacific region is accounted for about 75% of market share as in Asia Pacific region countries like China and India are highly dense in population and the household income of people are also rising, surging the Automotive Market. This will drive Global Automotive Oxygen Sensor Market. North America and Europe are the major market for the Automotive Oxygen Sensor due to its high growth income. Countries like United States and Canada shows consistent growth in sale of Vehicles, as well as European countries are also implementing new rules to reduce on road pollution which is driving the market.
The report also helps in understanding Automotive Oxygen Sensor Market dynamics, structure by analyzing the market segments and projects the Automotive Oxygen Sensor Market size. Clear representation of competitive analysis of key players by Propulsion Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Automotive Oxygen Sensor Market make the report investor’s guide.
Scope of the Automotive Oxygen Sensor Market
Automotive Oxygen Sensor Market, by End Use
• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle
Automotive Oxygen Sensor Market, by Engine Type
• Diesel Engine
• Petrol Engine
Automotive Oxygen Sensor Market, by Region
• Asia Pacific
• North America
• South America
• Middle East & Africa
Key players operating in Automotive Oxygen Sensor Market
• Continental Ag
• Delphi Automotive LLP
• Analog Devices Inc
• Infineon Technologies AG
• Denso Corporation
• Robert Bosch Gmbh
• NGK Spark Plugs
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