Europe EGR Valves Market to Grow at a CAGR of 3.5% to reach US$ 266.81 million from 2021 to 2028 | Business Market Insights

According to a new market research study on "Europe EGR Valves Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and Vehicle Type" is expected to reach US$ 266.81 million by 2028 from US$ 210.24 million in 2021. The market is estimated to grow at a CAGR of 3.5% from 2021 to 2028. The report provides trends prevailing in the Europe EGR Valves market along with the drivers and restraints pertaining to the market growth. Accentuating demand for emission reducing technology is the major factor driving the growth of the Europe EGR valves market. However, issues associated with the stiff rules imposed by governments hinder the growth of Europe EGR valves market.

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Most vehicle manufacturers are putting EGR technology into their vehicles since it helps reduce harmful gas emissions. EGR provides vehicle makers with a cost-effective, compact, and dependable technique for lowering vehicle emissions and increasing fuel efficiency. It is quickly gaining traction as a go-to solution for improving the efficiency of gasoline and hybrid propulsion systems. The EGR valve market is expected to grow over the projected period as the demand for EGR technology grows due to its benefits. Furthermore, stricter emission requirements for automobiles are projected to boost the demand for EGR valves due to their capacity to improve the internal combustion engine's efficiency in terms of power and fuel economy. EGR optimizes intake and exhaust gases, circulating them in the cylinder until they completely burn, lowering emissions. Automakers are replacing traditional systems with EGR systems to meet strict pollution standards.

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Europe EGR Valves Market - Company Profiles:
• BorgWarner Inc.
• Continental AG
• Denso Corporation
• Korens. Co., Ltd.
• Mahle GmbH
• Mitsubishi Electric Corporation
• Nissens Automotive A/S
• Rheinmetall Automotive AG
• Tenneco Inc.
• Valeo

The Europe 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 electric EGR valves segment is expected to be the fastest growing 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 gasoline engine segment is expected to be the fastest growing 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 during the forecast period. Based on country, the Europe EGR valves market is classified into Germany, France, Italy, UK, Russia, and Rest of Europe.

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