Wilmington, Delaware, Oct. 08, 2024 (GLOBE NEWSWIRE) --
Allied Market Research published a report, titled, "Exhaust Gas Recirculation Valves Market by Product Type (Pneumatic EGR Valve, Electric EGR Valve and Hydraulic EGR Valve), Vehicle Type (Passenger vehicle and Commercial vehicle), Application (Gasoline and Diesel): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the exhaust gas recirculation valves market was valued at $0.9 billion in 2023, and is estimated to reach $1.3 billion by 2033, growing at a CAGR of 4.3% from 2024 to 2033.
Request Sample of the Report on Exhaust Gas Recirculation Valves Market Forecast 2033: https://www.alliedmarketresearch.com/request-sample/A184814
Prime determinants of growth
The global exhaust gas recirculation (EGR) valve market is experiencing growth due to several factors, such as growing vehicle emission regulations, growing automotive production, and increase in demand for high fuel efficiency. However, integration and compatibility issues and the growing trend towards vehicle electrification hinder the market growth. Moreover, a growing aftermarket demand for EGR valves and rise in technological advancement offer remunerative opportunities for the expansion of the global exhaust gas recirculation (EGR) valve market.
Segment Highlights
On the basis of product type, the electric EGR valve segment dominated the market share in 2023, owning to strengthening of regulations by governments and regulatory bodies to reduce emission regulations from vehicles, address challenges such as rising air pollution, and promote green mobility. Moreover, Electric EGR valves offer more precise control of the exhaust gas recirculation, thus helping vehicles in meeting the regulations set by regulatory bodies and reduce harmful exhaust pollutants such as nitrogen oxide (NOx) .
Based on vehicle type, the commercial vehicle segment dominated the global market share in 2023 owning to rise in use of EGR system in improving vehicle fuel efficiency by optimally managing engine combustion, thus helping in improved fuel efficiency and cost savings for large fleet operators. Similarly, with the growth in E-commerce and logistics, the demand for commercial vehicles is increasing, thus driving the demand for exhaust gas recirculation (EGR) valves.
On the basis of application, the diesel segment dominated the market share in 2023, owning to the high torque output offered by diesel engine vehicles and their increased use in heavy-duty commercial vehicles such as trucks, buses, and construction equipment. In addition, diesel engine vehicles offer higher fuel efficiency than gasoline vehicles during heavy loads and long-haul operations. Furthermore, diesel engines have robust construction and offer longevity, thus driving its market demand.
Procure Complete Report (280 Pages PDF with In-depth Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/exhaust-gas-recirculation-valves-market-A184814
Regional Outlook
Region-wise, the Asia-Pacific region accounted for the largest market share in 2022, owning to, rapid industrialization in countries such as China, India, Indonesia, Bangladesh, and others. This has led to the establishment and expansion of manufacturing facilities, including automotive, machinery, and electronics, pharmaceutical & biotechnology, heavy equipment production, and other industries. These industries have increased the need for logistics activities, fueling the demand for the commercial vehicle segment. Furthermore, with rapid industrialization, growth in the logistics industry, and concerns regrading degrading air quality, the governments in the Asia-Pacific region are implementing increasingly stringent emissions regulations to address air pollution, thus contributing to the growth of the exhaust gas recirculation (EGR) valve market.
Players:
- Mahle GmbH
- Wells Vehicle Electronics
- BorgWarner Inc.
- Delphi Technologies
- Valeo SA
- PIERBURG, S.A.
- Hitachi Astemo, Ltd.
- Rheinmetall AG
- FISPA S.p.A.
- Vernet SAS
The report provides a detailed analysis of these key players in the exhaust gas recirculation (EGR) valve market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Make an Inquiry for Further Details of Report: https://www.alliedmarketresearch.com/purchase-enquiry/A184814
Recent Development:
- In August 2020, BorgWarner Inc. supplied its exhaust gas recirculation (EGR) technology to the latest Firefly gasoline engine, which was developed for the Fiat 500 and Panda hybrid models. The newer EGR series includes a cooler and valves and is the company’s first gasoline EGR module, which is being used on mild and hybrid engine technology for Fiat Chrysler Automobiles. The new module is specifically made for use in vehicle models in Europe, Middle East, and Africa. The new module has a compact package, which reduces weight and helps lower vehicle emissions.
Explore More Trending Reports
Automotive Motors Market Size, Share, Competitive Landscape and Trend Analysis Report, by APPLICATION, by VEHICLE TYPE, by Type : Global Opportunity Analysis and Industry Forecast, 2023-2032
Automotive Artificial Intelligence Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Technology, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032
Automotive Tire Market Size, Share, Competitive Landscape and Trend Analysis Report, by Season Type, Rim Size, Vehicle Type, Load Index and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2030
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
