According to a new market research report published by Credence Research, “Automotive Cabin Air Quality Sensors Market By Product Type (Semiconducting Metal Oxide (SMO), Non-Dispersive Infrared Sensors (NDIR)), By Vehicle Class (Passenger Cars, Commercial Vehicles), By Sales Channel (OEM, Aftermarket) and By Geography (North America, Europe, Asia Pacific, and Rest of the World)) – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global automotive cabin air quality sensors market is expected to reach US$ 572.0 Mn by 2027, expanding at a CAGR of 10.2% during the forecast from 2019 to 2027.
Growing passenger awareness regarding comfort, safety, rising levels of air pollution and failing air quality within automotive has resulted in faster adoption of automotive cabin air quality sensors globally. In addition, stringent government regulations coupled with increasing concerns towards CO2 emissions reduction are identified as the key driver for the automotive cabin air quality sensors market. Increasing worldwide demand towards more advanced technology such as self-diagnosing vehicles, stable economic conditions, and growing urbanization result in increased adoption for automobiles. The aforementioned factor is expected to drive market growth over the forecast period.
Moreover, growing security and safety concerns among consumers, as well as increasing sales of luxury vehicles, has widened the use of air quality sensors (AQS), thereby driving the demand for automotive air quality sensors globally. Regulations like environmental protection agency (EPA) guidelines, Paris agreement, and new emission standards by China’s government to restrict the emission of VOCs (volatile organic components) is predicted to shape the future of the global automotive cabin air quality sensors market.
As per the Japan Automobile Manufacturers Association, Inc. (JAMA) in 2017, North America imports around 1,925,356 units of vehicles withholding a market share of around 40.9%. The aforementioned factor indicates North America to drive the market for automotive cabin air quality sensors over the forecast period 2019-2027. The U.S. automobile industry heads into more investments, alliances towards electric vehicles (EV) and new technologies like driverless vehicles, which in turn is projected to boost the market.
Moreover, increasing sales and manufacturing of automobiles makes a rise in profit shares of automakers in North America thereby leading the U.S. as one of the largest automobile market globally followed by China.
Some of the leading manufacturers profiled in the study include Amphenol Corporation, ams AG, Axetris AG, Figaro Engineering Inc., Nissha FIS, Inc., Prodrive Technologies BV, SENSEAIR, Sensirion Holding AG, SGX Sensortech and Valeo SA.
Our Blog: Home – Target Market Size