Commercial Vehicles Segment to Dominate North America EGR Cooler Market during 2019–2027
According to The Insight Partners market research study on “North America EGR Cooler Market to 2027 – COVID-19 Impact and Analysis by Type, Engine Type, Vehicle Type", is expected to reach US$ 94.93 Mn in 2019 to US$ 88.45 Mn by 2027 after a huge decline in revenue in the year 2020 which is expected to account for US$ 75.2 with a CAGR of 2.4% from 2020 to 2027.The report provides trends prevailing in the North America EGR cooler market along with the drivers and restraints pertaining to the market growth. The growth of the North America EGR cooler market is attributed to the rising implementation of EGR cooler in gasoline engines and focus on lowering the emission. However, growing preference for electric vehicles are hindering the market of EGR cooler market.
Further, the US is the worst-hit country in North America, with around 2,13600 active cases of infected individuals facing severe health conditions across the country. The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders. Majority of the manufacturing plants are shut down, municipalities are functioning slowly as compared to past, and the automotive and semiconductor industries are at a halt, which is negatively impacting the EGR cooler market.
The North America EGR cooler market is segmented into type, engine type, vehicle type, and country. Based on type, the market is segmented into tube EGR coolers, and finned EGR coolers. In 2019 finned EGR coolers held the largest share of the North America EGR cooler market. On the basis of engine type, the market is bifurcated into diesel engine, and gasoline engine. The diesel engine segment contributed a substantial share to the total market worth in 2019. On the basis of vehicle type, the market is bifurcated into passenger vehicles, and commercial vehicles. In 2019 commercial vehicles held the largest share of the North America EGR cooler market.
Benteler Automotive, BorgWarner Inc., Faurecia, Hanon Systems, Korens Co. Ltd., Tokyo Roki Co. Ltd., Senior Flexonics, Valeo, MAHLE GmbH, Rheinmetall Automotive AG, Denso Corporation, Continental AG are among the leading companies in the EGR cooler market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, BorgWarner, Inc. introduced an EGR system that helps automakers in meeting growing emission standards. The system helps to cut down NOx emissions for various diesel vehicles. It comes in a compact package that unites several technologies, which includes an EGR cooler, a bypass, and an EGR valve.
The report segments the North America EGR Cooler Market as follows:
North America EGR Cooler Market– By Type
- Tube EGR Coolers
- Finned EGR Coolers
North America EGR Cooler Market– By Engine Type
- Diesel Engine
- Gasoline Engine
North America EGR Cooler Market– By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
North America EGR Cooler Market– By Country
- US
- Canada
- Mexico