EGR Valves Market Reach USD 1,183.21 Million by 2028 at 3.8%CAGR | Global Analysis by The Insight Partners

The comprehensive industry research on EGR Valves Market published by The Insight Partners research includes growth analysis and drivers in the report.

NEW YORK, UNITED STATES, February 3, 2023 /EINPresswire.com/ -- According to our latest market study on “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 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.

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Companies Profiled in this report includes: 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

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.

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Key Findings of Study:

The EGR valves market is segmented on the basis of type, application, vehicle type, and geography. Based on type, the market is bifurcated into electric EGR valves and pneumatic EGR valves. The pneumatic EGR valves segment led the EGR valves market in 2021. Based on application, the EGR valves market is sub segmented into gasoline engine and diesel engine. The diesel segment led the market in 2021. On the basis of vehicle type, the EGR valves market is segmented into passenger cars, LCV, MCV, and HCV. In terms of geography, the EGR valves market is further segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2021, North America accounted for a significant share of the market.

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