EGR Valves Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Electric EGR Valves and, Pneumatic EGR Valves), Application (Gasoline Engine, and Diesel Engine), and Vehicle Type (Passenger Cars, LCV, MCV, and HCV)
The EGR valves market is projected to reach US$ 1,183.21 million by 2028 from US$ 909.19 million in 2021; it is expected to grow at a CAGR of 3.8% from 2021 to 2028.
Vehicle manufacturing, one of the most important industries in the world, is growing due to the rising sales of vehicles, a surge in the manufacturing and sale of self-powered automobiles, and the increasing need for emission-free technologies. Collaborations, mergers and acquisitions, expansions, and technology launches are the common strategies adopted by automobile businesses. Leading players invest strategically in research and development, and expansion plans. For example, in August 2021, the Indian government unveiled a one-of-a-kind program called the Automotive Mission Plan to increase the automotive sector’s contribution to the national GDP to 12%, creating ~50 million new employments. The automobile industry in India is critical to the country's goal of becoming a US$ 5-trillion economy. Several multinational car brands are now available in the Indian market, and the government is encouraging these companies to promote alternative fuel vehicles. Hence, the expansion of the automotive industry is opening new avenues for vehicle component manufacturers.
The overall EGR valves market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the EGR valves market with respect to all the segments. Also, primary interviews were conducted with industry participants to validate data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the EGR valves market.
BorgWarner Inc; Continental AG; Nissens Automotive A/S; Denso Corporation; KORENS. Co., LTD.; Mahle GmbH; Mitsubishi Electric Corporation; Rheinmetall Automotive AG; Tenneco Inc.; and Valeo are a few major players operating in the EGR valves market.
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Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
The List of Companies - EGR Valves Market
1. BorgWarner Inc
2. Continental AG
3. Nissens Automotive A/S
4. Denso Corporation
5. KORENS. Co., LTD
6. Mahle GmbH
7. Mitsubishi Electric Corporation
8. Rheinmetall Automotive AG
9. Tenneco Inc.
10. Valeo
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