Market Research Future in its “Automotive Exhaust Gas Recirculation (EGR) Systems Market” report states that the market is estimated for 8.7% CAGR to thrive on, across the forecast period of 2017 to 2025.
The future of the automotive exhaust gas recirculation (EGR) systems market looks promising. The burgeoning automotive industry and increase in market players across the globe are likely to be the primary driving factor for the market. Alongside, rapid urbanization, which is boosting the need for more efficient passenger and commercial automobiles are encouraging automakers to incorporate EGR systems. It is also observed that a combination of exhaust gas recirculation (EGR) and selective catalytic reduction (SCR) systems and being highly preferred by people in emerging economies. On the contrary, the major challenge that market is likely to encounter is the availability of substitutes. Addition constraints on the markets can be pricing pressure and stringent government norms for approval of automotive exhaust gas recirculation (EGR) systems.
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The global market of automotive exhaust gas recirculation (EGR) systems market is segmented based on application, product type, and vehicle type.
By product type, the market is segmented into EGR valve, EGR cooler, and EGR pipe. In 2018, the EGR valve segment held the largest share of the market. The EGR cooler and the EGR pipes segments are expected to experience a significant expansion in over the forecast years. The rise in need to comply with new emission limits, are encouraging companies to incorporate EGR systems. Besides, EGR systems are aid in the reduction of nitrogen oxide emissions form internal combustion engines. Hence, the market is likely to trend up.
By vehicle type, the automotive exhaust gas recirculation (EGR) systems market is segregated into light commercial vehicle, passenger car, and heavy commercial vehicles. The passenger car segment is expected to direct the market. The increase in the demand for passenger cars, hike in per capita income, and expansion of auto-manufacturers across the globe can boost the market.
By application, the market is classified into gasoline and diesel. The diesel segment is expected to grow at a higher CAGR in the forecast period. Automotive exhaust gas recirculation (EGR) systems are being used extensively used in diesel engine vehicles. In case of diesel-powered engine vehicles, EGR aid in the reduction of nitrogen oxide emission. And assist in enhancing the performance of vehicles. Thereby, contributing to the rapid paced growth for the market.
Strong economies, such as India, China, Thailand, and Indonesia, as they are becoming manufacturing hubs for automobiles, which is expected to boost the Asia Pacific automotive exhaust gas recirculation systems market growth. The increase in per capita income of people in emerging economies, the rise in purchase power of people, particularly in regions, such as China and India can upscale the APAC market. Besides, the need to tap into the change in preferences of consumer automobile preferences, global automobile producers are expected to increase installation of EGR system in automobiles. As a result, the EGR systems market is expected to see a rise. Wealthy automakers those are residing in North America is likely to boost the global market.
Few of the prominent players in the Automotive Exhaust Gas Recirculation (EGR) System Market Revenue are Wells Vehicle Electronics (US), Mahle GMBH (Germany), Cambustion Ltd (UK), BorgWarner Inc (US), Wells Vehicle Electronics (US), Delphi ANSYS Inc (UK), Eberspacher Group (Germany), Denso Corporation (Japan), IAV automotive engineering (Germany), ElringKlinger AG (Germany), and Friedrich Boysen GmbH (Germany). The growing competition among EGR market players are expected to favor its global market.
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