Global Vehicle Oxygen Sensor Market: Introduction
- An oxygen sensor, also called lambda sensor, or O2 sensor, was developed by Dr. Gunter Bauman for the Robert Bosch GmbH company in late 1960s
- The oxygen sensor is an electronic device used to measure the amount of oxygen present in a liquid or gas. In vehicles, an oxygen sensor is usually installed at the exhaust tailpipe to measure the amount of oxygen in vehicle emissions. This sensor transmits data to the Electronic Control Unit (ECU) of the vehicle and alerts the vehicle driver that the engine is running at top performance.
- The O2 sensors light up the Check Engine Light (CEL) on the vehicle’s dashboard, which indicates the presence of an issue in the vehicle’s engine, resulting in excessive emissions and the vehicle requires maintenance
Key drivers of global vehicle oxygen sensor market
- The amount of oxygen in the exhaust gas is also a measure of the combustion efficiency of an ICE and it monitors the air-to-fuel ratio of a vehicle. This acts as a timely warning for vehicle maintenance, thereby enhancing engine life.
- Increase in disposable income has prompted consumers to own vehicles, thereby increasing the number of vehicles on road. This, in turn, drives the demand for installation of oxygen sensors in the vehicle, thereby driving the market.
- Various countries, worldwide, are enacting stringent emission norms to reduce carbon footprint caused by vehicle emission. For instance, California's emissions standards, set by the California Air Resources Board (CARB) are being adopted in 16 states of the U.S. post 2009, which monitor greenhouse gas emissions. Likewise, the U.K. has introduced Euro 4 or Euro 5 emissions standards for taxis and licensed private hire vehicles in the country. India has introduced new standard BS-VI for vehicles in the country, which is similar to EURO 6 standards.
- Stringent government norms and regulation imposed by regulatory authorities across the globe, to reduce vehicular carbon emissions, are anticipated to propel the demand for automotive oxygen sensors as installation of oxygen sensors is mandatory to monitor vehicle emissions.
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Rising adoption of electric vehicles to hamper global vehicle oxygen sensor market
- Technological innovation in vehicle batteries have led to the development of more efficient electric vehicles, which offer more mileage per full charge. For instance, according to the BMW Group, the BMW i3 offers a maximum range of 153 miles per full charge.
- Electric vehicles (EVs) are not only efficient but also provide rapid acceleration. EVs are emission-free, as they do not use gasoline or diesel as fuel and hence, eliminate the need for emission monitoring. All these factors are driving the electric vehicle market, which in turn is hampering the vehicle oxygen sensor market.
Asia Pacific to dominate the global vehicle oxygen sensor market
- Vehicle production and sales in developing countries, such as China, India, Malaysia, and Thailand, in Asia Pacific are increasing owing to economic growth and rise in demand for personal vehicles. For instance, according to the Ministry of Public Security in China, China had 319 million motor vehicles by the end of June 2018, and this number increased to 340 million motor vehicles as of June 2019.
- Furthermore, stringent rules and regulations by government authorities and regulatory bodies in the region, in order to reduce air pollution to curb climate change, are compelling automakers to implement technologies to monitor vehicle emissions. All the factors mentioned above are driving the vehicle oxygen sensor market in Asia Pacific.
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Key players operating in global vehicle oxygen sensor market:
The global vehicle oxygen sensor market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global vehicle oxygen sensor market are:
- Robert Bosch GmbH
- NGK SPARK PLUGS (INDIA) PVT. LTD.
- Hyundai Mobis
- Delphi Automotive plc
- Continental AG
- Denso Corporation
- Sensata Technologies, Inc.
- Analog Devices, Inc.
- GENERAL ELECTRIC
- Infineon Technologies AG
- Apogee Instruments, Inc.
- Honeywell International Inc
- Siemens AG
- Schneider Electric
- Walker Products, Inc.
- Control Instruments Corporation
Yokogawa Electric Corporation
Global Vehicle Oxygen Sensor Market: Research Scope
Global Vehicle Oxygen Sensor Market, by Vehicle Propulsion System
Global Vehicle Oxygen Sensor Market, by Vehicle Type
Global Vehicle Oxygen Sensor Market, by Type
- Zirconia Sensor
- Wideband Zirconia Sensor
- Titania Sensor
Global Vehicle Oxygen Sensor Market, by Technology
- Laser Technology
Global Vehicle Oxygen Sensor Market, by End-use Industry
Global Vehicle Oxygen Sensor Market, by Sales Channel
Global Vehicle Oxygen Sensor Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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