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Oxygen Sensor is the Biggest Market and MAP Sensors Offer the Highest Growth Potential
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The overall aftermarket replacement demand for the six automotive sensors (covered in this study) in Europe was estimated at €836 million in 2016; it is expected to grow at a compound annual growth rate (CAGR) of 3.5% between 2016 and 2023 reaching €1.06 billion by 2023. Oxygen sensors is the biggest market in terms of revenues (€321 million in 2016), while temperature sensors (oil, air, and coolant) is the biggest market in terms of unit shipments (9.4 million units sold in 2016). Increased OE installation of sensors, or multiple sensors per vehicle, to adhere to stricter emissions and safety standards and increasing vehicle age are the primary growth drivers for sensors replacement in the aftermarket.Oxygen sensors will continue to generate the highest demand, largely due to their higher installed base. Most vehicles manufactured after the 2004 model year have two oxygen sensors installed. Increased OE installation of MAP sensors that can measure both pressure and temperature (TMAP) is the primary reason for growth in this market. Bosch, Hella, Delphi, Facet, and SMPE are the top suppliers in the overall sensors aftermarket comprising 6 sensor types.Opportunities for Suppliers• Suppliers should widen their sensor product range and prepare to target 4- to 10-year-old vehicles to avoid competition from low-cost products that are typically favored over >10-year-old vehicles• Most sensors are mature products with limited technical training offered. Suppliers should invest in training and education at workshops to educate end customers on sensor brand recognition and maintenance patterns. Suppliers should also invest in strengthening OE partnerships to gain maximum penetration in the OES channel that accounts for 40-45% of the sensors aftermarket in Western Europe.• This study of the European Passenger Car (PC) and Light Commercial Vehicle (LCV) aftermarket covers the independent aftermarket and original equipment service (OES) or the dealer service channel in 28 European Union (EU) countries. It does not cover Russia and Turkey.Key questions this study will answer include: • What is the current status of the sensors aftermarket in Europe? What the future holds for this market in the short, medium, and long terms?• What is the size of sensors aftermarket in Europe in 2016? Where are the key growth opportunities?• Who are the major sensor suppliers in the IAM and OES channels and what are the key opportunities of growth for sensor suppliers?• How is the distribution landscape changing in the sensors aftermarket in Europe?• Which are the sensor types that hold significant aftermarket potential?
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