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Automotive EGR Market Worth USD 25.37 Billion By 2026 Says Search4Research

Global Automotive EGR Market was USD 14.98 Billion in 2018 and is projected is to exhibit 10.08% CAGR during the forecast period. The market is projected to be around USD 25.37 Billion by 2026. The global automotive exhaust gas recirculation (EGR) systems market is marked with growth potential in the coming years. The factors that influence the demand for automotive exhaust gas recirculation (EGR) systems are the growing automotive industry, expansion of global players into emerging nations, and growing urbanization. The major trends and opportunities in the automotive exhaust gas recirculation (EGR) systems market are combination of exhaust gas recirculation (EGR) with selective catalytic reduction (SCR) systems, and the emerging economies.

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Increase in Automotive Industry

Automotive industry is diversifying at a greater speed as manufacturers and suppliers’ race to produce lighter and more powerful vehicles in lesser time. Alternative fuels, new lightweight materials and innovative technology are transforming the manufacturing process of automotive industry. With the global economy undergoing an unprecedented level shift, major emerging countries such as China, India, Thailand, and Indonesia are becoming manufacturing hubs for global automotive players.

Growing Disposable Income

The macroeconomic development and rise in the global middle-class consumers. These factors primarily drive the automotive exhaust gas recirculation (EGR) systems market growth, gaining prevalence in recent times, with technological developments and rapidly increasing disposable income among consumers.

Asia Pacific region holds the highest market of total market share in 2018. The Asian market is mainly driven by the increasing prosperity in the emerging economies; people are increasingly being able to afford their own car, particularly in emerging Asian economies such as China and India. In order to tap these rising consumer automobile preferences, leading global automotive players such as Volkswagen, BMW, Toyota, and Ford, are entering into new emerging markets for business expansion.

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Automotive EGR Market Segmentation

The global Automotive EGR Market is segmented into Engine Types, Car Types, and by Region. On the basis of the product types the market is further bifurcated into Diesel-Powered engine, and Gasoline powered engines. By Car Type, the market is classified into Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle. On the basis of product type the market is segmented as EGR valve, EGR cooler and EGR pipe. Based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.

Automotive EGR Market Competitive Landscape

The key players associated with the global Automotive EGR Market are Mahle GMBH (Germany), Wells Vehicle Electronics (US), BorgWarner Inc (US), Cambustion Ltd (UK), Delphi ANSYS Inc (UK), Denso Corporation (Japan), Eberspacher Group (Germany), ElringKlinger AG (Germany), IAV automotive engineering (Germany), Wells Vehicle Electronics (US), and Friedrich Boysen GmbH (Germany).

Complete Report on Automotive EGR Market is Available at https://www.search4research.com/industry-reports/97427/automotive-egr-market

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