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Cost Competitiveness in the Automotive Aftermarket and Inspection Demand Create New Growth Opportunities for Distribution Channels
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Vehicle emissions regulations, higher environmental awareness, and safety drive demand for oxygen and ABS sensors in the European region. This report covers the engine management and ABS sensors aftermarket broadly classified into oxygen sensors, intake air temperature, camshaft/crankshaft position sensors, MAP, MAF, and ABS for the passenger car and light truck vehicle segments. It discusses unit shipments, revenue, average price, distribution channel share, and major participants across the sensors aftermarket industry in the EU27 + United Kingdom region. The base year for analysis is 2020, while the forecast period is from 2021 to 2027. Demand for the engine management and ABS sensors aftermarket is expected to grow in terms of unit shipments in the forecast period. The increase in vehicles in operation (VIOs) coupled with incremental miles traveled by vehicles are forecast to promote unit shipment growth. Due to the rise in the average price per unit, revenues are projected to grow faster than the unit shipments demand. Oxygen sensor products dominate the EU27+ United Kingdom engine management and ABS sensors aftermarket in terms of unit shipments and revenue. As of 2020, oxygen sensors hold approximately 41% revenue share in the market. Despite the impact of COVID-19 leading to negative revenue growth in 2020, this trend is expected to recover by the end of 2021. Key channel partners in these segments include OES and warehouse distributors, which collectively account for the majority revenue share at 97% across all product segments. Growth of higher engine capacity vehicles like SUVs and pickup trucks that require high power rated engine management and ABS sensors are also expected to push up the average manufacturer-level prices of these sensors in the forecast period. The top 3 players in the EU27 + UK engine management and ABS sensors aftermarket hold a total revenue share of about 57%–59% in the base year. Bosch, HELLA, NGK, Denso, Continental, and BorgWarner are key participants in the passenger and light truck engine management and ABS sensors aftermarket in the European region.
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