The automotive sector is constantly expanding. Vehicle manufacturing is one of the most important industries. In addition, the industry is growing due to rising automotive sales and increasing need for emission-free technologies. Market revenues are influenced by rising economic growth and manufacturing and sales of self-powered automobiles across the region. Collaboration, mergers and acquisitions, expansion, and technology launches are common strategic tactics in the automobile business. Leading industry companies invest strategically in research and development and expansion plans. For example, in August 2021, the Indian government unveiled a one-of-a-kind program called the Automotive Mission Plan to increase the vehicle sector's contribution to national GDP to 12% and create roughly 50 million new employments. India's automobile industry is critical to the country's goal of becoming a US$ 5 trillion economy. As a result, the government wants to boost the auto industry's GDP contribution and job creation. Several multinational car brands are now available in APAC, and the governments are encouraging these companies to promote alternative fuel vehicles. Hence, as the vehicle industry expands, new possibilities for component manufacturers will emerge.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the EGR valves market. The APAC EGR valves market is expected to grow at a good CAGR during the forecast period.
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, APAC EGR valves market is classified into Australia, China, India, Japan, South Korea, and the 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.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 463.00 Million |
| Market Size by 2028 | US$ 635.03 Million |
| CAGR (2021 - 2028) | 4.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific EGR Valves Market is valued at US$ 463.00 Million in 2021, it is projected to reach US$ 635.03 Million by 2028.
As per our report Asia Pacific EGR Valves Market, the market size is valued at US$ 463.00 Million in 2021, projecting it to reach US$ 635.03 Million by 2028. This translates to a CAGR of approximately 4.6% during the forecast period.
The Asia Pacific EGR Valves Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific EGR Valves Market report:
The Asia Pacific EGR Valves Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific EGR Valves Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific EGR Valves Market value chain can benefit from the information contained in a comprehensive market report.
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