Oxygen Sensor Heaters Market: Introduction
Innovations in the automotive industries have led to the higher acceptance of products such as oxygen sensor heaters, which are used to heat up the sensors up to the operating temperature quickly. The oxygen sensor is installed in the exhaust manifold to observe how much unburned oxygen is in the exhaust as the exhaust exits the engine. The oxygen sensor heaters keep the oxygen sensor hot even when the engine is idling for a long period of time. Different types of oxygen sensor heaters are available including tube type oxygen sensor heaters, plate type oxygen sensor heaters and heater with sensors.
Moreover, automotive fleet on road is estimated to grow at a considerable CAGR, which can create significant opportunities for the oxygen sensor heaters manufacturer.
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Oxygen Sensor Heaters Market: Market Dynamics
Drivers:
Increasing demand of oxygen sensor heaters from the automotive OEM (original equipment manufacturer) is expected to be a major factor driving the growth of the oxygen sensor heaters market over the forecast period. Moreover, oxygen sensor heaters are usually installed in newer vehicles, which is anticipated to give traction to the growth of oxygen sensor market in the coming decade. That apart, the strong outlook of automotive industry, both, in developing and developed economies, is expected to upsurge the demand of oxygen sensor heaters over the forecast period. Furthermore, advancement in technology will add to the growth of the oxygen sensor heaters market.
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Restraints:
The older single wire oxygen sensor do not have any heater and it cannot be replaced with 4 wired oxygen sensor heaters. This is anticipated to be a prime factor restraining the growth of oxygen sensor heaters market over the forecast period.
Trends:
A major trend anticipated five years down the line includes market leaders of oxygen sensor heaters are focusing on strategic expansion into the untapped market to increase customer base and expand presence across the globe. Moreover, the manufacturer are focused on research & development (R&D) activities to develop new and effective products to meet consumer needs.
Oxygen Sensor Heaters Market: Segmentation
The global oxygen sensor heaters market can be segmented on the basis of type, vehicle type, sales channel and distribution channel.
Based on type, the global oxygen sensor heaters market can be segmented as:
- Tube Type Oxygen Sensor Heaters
- Plate Type Oxygen Sensor Heaters
- Heater with sensor
Based on vehicle type, the global oxygen sensor heaters market can be segmented as:
- Passenger Cars
- LCVs (Light Commercial Vehicles)
- HCVs (Heavy Commercial Vehicles)
Based on sales channel, the global oxygen sensor heaters market can be segmented as:
- OEM (Original Equipment Manufacturer)
- Aftermarket
Based on distribution channel, the global oxygen sensor heaters market can be segmented as:
- Online Sales
- Offline Sales
Oxygen Sensor Heaters Market: Regional Outlook
The regional demand dynamics can be directly correlated with the demand from end-use industry. Over the forecast period, Asia Pacific is anticipated to witness significant growth in the oxygen sensor heaters market owing to the significant growth in the automotive sector in the emerging economies, such as India and China. Western Europe is predicted to grow at a considerable CAGR during the forecast period due to upsurge in demand for oxygen sensor heaters in the growing automotive sector in the region. Germany is projected to be the leading automobile and automotive market in Western Europe region. Developing economies such as Latin America is probably to witness the growth of oxygen sensor heaters market over the forecast period. Middle East & Africa is anticipated to grow at a considerable CAGR during the forecast period owing to growing automotive fleet in the region.
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Oxygen Sensor Heaters Market: Market Participants
Example of some of the key participants identified across the value chain of global oxygen sensor heaters market include
- KYOCERA Corporation
- Walker Products, Inc.
- Fujian Yifeng Industry Co.
- Limited
- Xiamen Green Way Electronic Technology Co., Ltd.
- Dynamic Ceramic