Report : Asia Pacific EGR Valves Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Electric EGR Valves and Pneumatic EGR Valves), Application (Gasoline Engine and Diesel Engine), and Vehicle Type (Passenger Cars, LCV, and MCV and HCV)Â
Diesel Engine Segment to Dominate APAC EGR Valves Market during 2021–2028
According to a new market research study on “APAC EGR Valves Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and Vehicle Type” is expected to reach US$ 635.03 million by 2028 from US$ 463.00 million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report provides trends prevailing in the APAC EGR Valves market along with the drivers and restraints pertaining to the market growth. Burgeoning automotive industry is the major factor driving the growth of the APAC EGR valves market. However, issues associated with the stringent rules imposed by governments hinder the growth of APAC EGR valves market.
The APAC 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 APAC EGR valves market is classified into Australia, China, India, Japan, South Korea, and Rest of APAC.
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 APAC EGR valves market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic 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 2021, Tenneco's Powertrain business group was named a GM Supplier of the Year winner in General Motors' 29th annual Supplier of the Year awards.
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