In order to reduce automobile emissions, government rules require exhaust sensors to be used in both passenger cars and commercial vehicles. The global remote automotive exhaust sensor market is anticipated to expand due to the ongoing development of enhanced safety features and an increase in vehicle production. The market for remote automotive exhaust sensors is also projected to increase due to the growing desire for greater vehicle performance and fuel efficiency.
As it offers a trustworthy and effective approach to monitoring the exhaust system components, the remote automotive exhaust sensor market is necessary. The remote automotive exhaust sensor aids in increasing fuel efficiency, cutting pollutants, and enhancing engine performance. By offering early identification of any potential exhaust system problems, it also lengthens the engine's lifespan. This is boosting the market's need for remote automotive exhaust sensors.
Modern sensors called remote automotive exhaust sensors are used to gauge gas emissions from vehicles. They contribute to decreasing vehicle emissions and enhancing engine performance by giving precise readings even in high-temperature exhaust circumstances. For more effective vehicle operation, the remote automotive exhaust sensor can be easily connected with other parts including the transmission control unit, on-board computer system, and electronic throttle control units.
The market for remote automotive exhaust sensors is expected to reach USD 1,556.29 million in 2021 and USD 3,077.51 million by 2031, growing at a CAGR of 8.76% over that time.
The market for remote automobile exhaust sensors is expanding due to rising environmental concerns and strict regulatory restrictions.
Due to their superior technology, these sensors are more expensive than regular sensors, which is the market's main obstacle. Additionally, growing manufacturer competition is probably going to restrain the expansion of the worldwide remote automobile exhaust sensor market. Conversely, developments like the creation of wireless automobile sensors provide new businesses with a chance to enter the market.
Continental AG, Denso Corporation, Delphi Automotive PLC, Robert Bosch GmbH, Honeywell International Inc., and others are some of the major competitors in this market. In order to deliver greater performance and obtain a competitive edge in the industry, corporations are concentrating on developing cutting-edge automobile exhaust sensors. To increase their market share in the worldwide remote automotive exhaust sensor market, these players are also forming strategic alliances and releasing new products. These tactics would aid them in growing their footprint on a global scale.
The Oxygen Sensor Segment emerged as the Most Lucrative Type
The oxygen sensor, NOX sensor, and particulate matter sensor are additional market segments based on type in the global remote automotive exhaust sensor market. The Oxygen Sensor market is likely to expand due to rising consumer demand for improved engine performance and fuel economy. The demand for NOX sensor products is also likely to rise as a result of factors like government regulations to reduce emissions and rising luxury vehicle sales.
The Most Prominent Application is the Commercial Vehicle Segment
Due to increased sales of luxury cars in nations like the US, Canada, and Germany, the passenger car segment now commands the greatest share of the global remote automotive exhaust sensors market. As commercial vehicles become more popular in developing nations, this market is also anticipated to expand significantly. Increased regulation for emission control is another factor that is going to support the expansion of the remote automotive exhaust equipment market in commercial vehicles.
The APAC Region to render Ample Financing Opportunities
The Asia Pacific is anticipated to have significant growth from 2021 to 2031 as a result of rising demand for passenger automobiles and expanding knowledge of increased engine performance and fuel efficiency. Additionally, it is anticipated that rising disposable income and rising government investment in the automobile industry will fuel the market over the anticipated time span.
COVID-19 Impact and Market Status
The COVID-19 epidemic has significantly impacted the world's automotive industry, upsetting the supply chain and harming car production. The market for remote vehicle exhaust sensors has been negatively impacted by the scarcity of labour due to lockdowns brought on by government laws and weak client demand. Leading players are anticipated to restart production operations in 2021, though, as digital technologies in the manufacturing sector are being adopted at an increasing rate.
Recent Developments in the Remote Automotive Exhaust Sensor Market
• Robert Bosch GmbH introduced a new exhaust gas sensor in February 2019 that can identify nitrogen oxide and carbon dioxide in vehicles, aiding the business in becoming the market leader in automotive sensors.
• German automotive technology company Continental AG introduced an exhaust gas recirculation (EGR) module with a lambda sensor for diesel engines in May 2019. In addition, a lot of businesses are creating novel items and introducing new ones to the market in an effort to attract as many customers as possible and obtain a competitive edge.
• The Denso Corporation created a remote exhaust gas temperature sensor in May 2020 that can measure exhaust temperature anywhere in the engine system of the car. Due to the technology's qualities including improved precision and low energy usage, it is anticipated that it would be employed in a variety of vehicles, including both passenger automobiles and commercial vehicles.
• The creation of a more sophisticated version of their remote exhaust gas detecting system for commercial cars was announced by Bosch Automotive Technology in June 2020. The company's product portfolio will be expanded, and its market presence will be improved, thanks to this launch.
• Delphi Technologies created a diesel engine exhaust gas recirculation (EGR) module with a lambda sensor in May 2021. Both passenger automobiles and business vehicles can use the product. It enables effective monitoring of emissions, fuel efficiency, and engine performance.
• One of the most cutting-edge products on the worldwide remote automotive exhaust sensor market was introduced by NGK Spark Plug Co., Ltd. in June 2021 with the release of a new oxygen sensor for diesel engines that includes an integrated exhaust gas circulation (EGR) valve.
• With cutting-edge features including long-term stability and excellent precision, Bosch Automotive Technology introduced a new line of remote exhaust gas sensors for commercial vehicles in March 2022. This is assisting the business in gaining a competitive advantage over rivals in the international market.
• A novel NOX sensor for diesel engines that can precisely and speedily detect nitrous oxide levels was created by Denso Corporation in June 2022. The product was created with the wants and preferences of the customer in mind.
Remote Automotive Exhaust Sensor Market Scope
|Revenue forecast in 2031
|USD 3,077.51 million
|CAGR of 8.76% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Continental AG, Denso Corporation, Delphi Automotive PLC, Robert Bosch GmbH, Honeywell International Inc., and others
Key Segments of the Remote Automotive Exhaust Sensor Market
Type Overview, (USD million)
• Oxygen Sensor
• NOX Sensor
• Particulate Matter Sensor
Application Overview, (USD million)
• Passenger Car
• Commercial Vehicle
Regional Overview,(USD million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa