North America EGR Valves Market Advancements with 3.0% of CAGR by 2027 | BorgWarner Inc., Continental AG, Denso Corporation, Korens. Co., Ltd.

The EGR valves market in North America is expected to grow from US$ 167.40 million in 2021 to US$ 206.35 million by 2028; it is estimated to grow at a CAGR of 3.0% from 2021 to 2028.

Currently, 55% of the region's population lives in cities, which is anticipated to rise to 68% by 2050. According to a new United Nations data set released, urbanization or the gradual shift in human population from rural to urban areas, combined with regional population growth. Hence, the growing urbanization has resulted in the rise of the industrial sector and infrastructural development, which is the fundamental reason for the enormous increase in regional goods transport vehicles. The expansion of the industrial sector, particularly in developing countries, has resulted in a high number of employment openings in various industries, including construction, mining, and tourism.

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The increase in job opportunities also leads to a rise in commuters, which significantly impacts public transportation demand, resulting in increased vehicle manufacturing, benefiting the ecosystem's businesses, including EGR valve vendors. Furthermore, the rapid commercialization of developing countries has fueled the demand for commercial cars in these countries. Commercial cars are used to produce income. Therefore, commercial vehicles with superior fuel efficiency will increase vehicle owners' revenues. Consequently, owners prefer vehicles that offer higher fuel economy. The demand for improved fuel efficiency and performance is expected to boost the EGR valves market growth during the projected period.

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Major Key players covered in this report:

• BorgWarner Inc.
• Continental AG
• Denso Corporation
• Korens. Co., Ltd.
• Mahle GmbH
• Mitsubishi Electric Corporation
• Nissens Automotive A/S
• Rheinmetall Automotive AG
• Tenneco Inc.
• Valeo

North America EGR Valves Market Segmentation

The North America EGR valves market is segmented based on type, application, vehicle type, and country. Based on type, the market is segmented into electric EGR valves and pneumatic EGR valves. The pneumatic EGR valves segment dominated the market in 2020, and the electric EGR valves segment is expected to grow at a faster rate during the forecast period. Based on application, the market is segmented into gasoline engine and diesel engine. The diesel engine segment dominated the market in 2020, and the gasoline engine segment is anticipated to grow at a faster rate during the forecast period. Based on vehicle type, the market is segmented into passenger cars, LCV, MCV, and HCV. The LCV segment dominated the market in 2020 and is expected to be the fastest-growing segment during the forecast period. Based on country, the North America EGR valves market is categorized into the US, Canada, and Mexico. BorgWarner Inc.; Continental AG; Denso Corporation; Korens. Co., Ltd.; Mahle GmbH; Mitsubishi Electric Corporation; Nissens Automotive A/S; Rheinmetall Automotive AG; Tenneco Inc.; and Valeo are among the leading companies in the North America EGR valves market.

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The research on the North America EGR Valves market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor's methodologies. The research also segments the North America EGR Valves market on the basis of end user, product type, application, and demography for the forecast period 2021-2028. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the North America EGR Valves market.

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This release was published on openPR.