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News: BusinessWire Global Automotive Emission Sensor Market Set to Generate over USD 13 Billion by 2019, Reports Technavio
点击数:2256  时间:2016/1/21 10:57:02

Global Automotive Emission Sensor Market Set to Generate over USD 13 Billion by 2019, Reports Technavio

01/19/16 11:20 AM EST 

From:morningstar

Global Automotive Emission Sensor Market Set to Generate over USD 13 Billion by 2019, Reports Technavio


01/19/16 11:20 AM EST 

From:morningstar

Global Automotive Emission Sensor Market Set to Generate over USD 13 Billion by 2019, Reports Technavio


Technavio analysts forecast the global automotive emission sensor market to post a CAGR of more than 4% by 2019, according to their latest report.



The growth in the automotive emission sensor market is mainly due to the implementation of tougher and stricter emission norms across the world, increasing auto sales, and an increasing number of emission sensors being adopted in vehicles.


Technavio’s lead research analyst, Faizan Akhtar says, “Pollution from automobiles has been a serious issue worldwide, which has led to significant research and development of technologies to reduce emissions. Gas sensors are a product of this endeavour to monitor and control vehicle emissions. The two main gases causing air pollution and increasing environmental and health concerns are nitrogen oxide and carbon monoxide.”


The research study by Technavio segments the automotive emission sensor market based on type, which include O2 emission sensors and nitrogen oxide (NOx) emission sensors. The adoption of O2 emission sensors in vehicles is much higher compared to NOx emission sensors. Since the introduction of O2 sensors by Bosch, O2 sensors has become standard equipment in almost all vehicles manufactured today.


The automotive emission sensor market is well-diversified between three regions, including APAC, the Americas, and EMEA. Among the three regions, the market is dominated by APAC and will continue to do during the forecast period as it is the largest and fastest growing vehicle market in the world, and also the largest automotive components manufacturing hub.


Technavio’s market research analysts have identified the following three market growth factors:


Stringent emission norms

Increased penetration of diesel engine vehicles

Advancement in technology

Stringent emission norms


According to the new report by Technavio, many countries across the world are beginning to implement strict emission norms because of the increasing environmental and health concerns. The main objective behind setting tougher emission norms is to reduce automotive emissions and fuel consumption. Thus, the market for automotive emission sensors is driven by the implementation of these emission norms.


For instance, as per the Euro VI norms introduced by the EU in 2014, nitrogen oxide emissions must be below 0.4g/kWh and particulate emissions must be below 0.01g/kWh. Japan, too, is in the process of introducing new emission norms that are similar to the Euro VI norms. Similarly, developing countries such as India and Russia are on the verge of applying the Euro IV and Euro V norms by the end of 2016.


Increased penetration of diesel engine vehicles


The latest report by Technavio highlights the increased penetration of diesel engine vehicles because of their fuel efficiency and the low cost. These vehicles emit a significant amount of particulate matter such as NOx, HC, CO, and toxic air pollutants compared to a gasoline engine and thus are liable to have a severe impact on the environment and health.


“Since diesel engine vehicles emit significant amount of toxic gases, emission sensors like O2 sensors, nitrogen oxide sensors, and technologies like exhaust gas recirculation, selective catalyst reduction, and diesel particulate filters are used to reduce emission levels. Therefore, the increasing sales of diesel vehicles across the globe is likely to have a direct impact on the global automotive emission sensors market over the next four years,” says Technavio’s lead research analyst, Faizan Akhtar.


Advancement in technology


The research study reports that with frequent changes and implementation of emission legislations, and increased demand for more reliable technology by end-users have led manufacturers to invest in R&D for more technologically advanced emission sensors that meet the emission standards and demands of OEMs and customers. The continuous advances in technology to provide more reliable and better emission sensors is driving the market for automotive emission sensors.


“Advances in technology has led to the development of narrowband O2 sensors that are widely used in vehicles today. These sensors monitor Air-fuel ratio and send a voltage signal to the electronic control unit as to whether the engine is rich, lean, or stoic. The electronic control unit readjusts based on the signal sent,” says Technavio’s lead research analyst Faizan Akhtar.

 
 
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