Exhaust Gas Recirculation Valves Market worth USD 1.3B by 2033, Growing at 4.3% CAGR Amid Rising Emission Control Demand

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.

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Exhaust gas recirculation (EGR) valves are components used in internal combustion engine vehicles. EGR valves are specifically designed to reduce nitrogen oxide (NOx) emissions by recirculating a portion of the engine exhaust gases back into the engine's combustion chamber. This helps in lowering the combustion temperature, thus reducing the formation of NOx, a major contributor to air pollution and smog. The primary function of the EGR valves is to optimize the flow of exhaust gases, optimize engine performance, and increase fuel efficiency of the vehicle. Exhaust gas recirculation valves work in harmony with the signals received form the engine control units, which analyze speed, load, temperature, and emissions levels, thus allowing for a controlled amount of exhaust gas to flow back into the engine intake system.

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.

In recent years, growing production and sales of automobiles resulted in growing pollution level especially from the ICE vehicle segment. During the same period, there has been increase in demand for high powered engine vehicles, resulting in increase in demand for efficient exhaust gas recirculation (EGR) valves to improve vehicle efficiency and reduce engine power loss. To tackle the growing emission from vehicles, governments globally implemented strengthening measures. For instance, in Europe, the European Emission Standards or Euro Norms govern and restrict the vehicle emissions over a certain limit. The law also encourages the use of automotive technologies that are cleaner and more efficient. Similarly, in April 2022, India passed a law that outlines a permissible amount of pollutants from a vehicle, especially from automobiles that run on petrol and diesel. In addition, other countries around the world, such as the U.S, China, Japan, South Korea, Canada and Others, have also implemented or updated their fuel efficiency standard and emission norms. Thus, the strengthening of emission laws is expected to provide lucrative market growth opportunities during the forecast period.

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Regional/Country Market Outlook

The growing concerns regarding alarming pollution levels and negative effects of climate change due to growing pollution from automobiles have resulted in increasing shift of consumers towards hybrid and electric vehicles. Moreover, the growth in electric and hybrid vehicle technology, especially from Chinese automakers such as BYD, Geely, Great Wall Motors, and SAIC Motor, has further helped in the growing adoption of EVs and hybrid vehicles.

👉 According to data by the Society of Indian Automobile Manufacturers, passenger vehicle sales in the country accounted for 4.2 million units, witnessing a growth rate of 8.4% as compared to previous years in 2022.

👉 In Malaysia, according to the Malaysian Automotive Association (MAA) , the sales of new cars increased by 30% and the sales of passenger vehicle grew by 33.2% in January 2023.

👉 In 2022, According to data published by the International Energy Agency (IEA) , by 2030, almost 1 in 3 cars on the roads in China will be electric. Also, due to rise in fuel prices, the sales of hybrid and alternative fuel vehicles have also seen strong growth in China. According to data published by the International Energy Agency (IEA) , by 2030 almost 1 in 3 cars on the roads in China is set to be electric, at the same time due to increase in fuel prices the sales of hybrid and alternative fuel vehicle also witnessed strong growth

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.

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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.

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