EGR is a crucial component in any modern automobile engine. EGR valves connect the intake manifold with the exhaust manifold. The production of nitrogen oxide is decreased by the EGR valves and this has a direct effect in cooling the temperature of the combustion chamber. Main function of EGR valve is to control the flow of exhaust gas. EGR valves market is predicted to witness accelerating growth in coming years.
The "Global EGR Valves Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the EGR valves market with detailed market segmentation by type, vehicle type, application, and geography. The report provides key statistics on the market status of the leading EGR valves market players and offers key trends and opportunities in the market.
- Based on type, the global EGR valves market is segmented into electric EGR valves and pneumatic EGR valves.
- On the basis of vehicle type, the market is segmented into HCV, LCV and passenger car.
- Based on application, the market is bifurcated into gasoline engine and diesel engine.
- EGR valves help in reducing the emission of toxic gases.
- Rising transport activities in many developing countries of Asia drives the demand for EGR valves.
- Increasing stringent norms from government authorities and regulatory bodies.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The EGR valves market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the EGR valves market in these regions.
IMPACT OF COVID-19 ON EGR VALVES MARKET
The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. This pandemic not only restricted the movement of people from one place to another, but also hampered the transport activities to a large extent. Due to this factor, demand for EGR valves decreased notably all over the world.
The report covers key developments in the EGR valves market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from EGR valves market are anticipated to lucrative growth opportunities in the future with the rising demand for EGR valves in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the EGR valves market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Mitsubishi Electric Corporation
Wells Vehicle Electronics
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.