egr valves Market

The EGR valves market is projected to reach US$ 1,183.21 million by 2028 from US$ 909.19 million in 2021; it is expected to grow at a CAGR of 3.8% from 2021 to 2028.

The vehicle manufacturing industry, a crucial sector worldwide, is expanding rapidly due to the growing sales of vehicles, increased production and sale of self-propelled vehicles, and the growing demand for emission-free technologies. Automotive companies employ various strategies, such as collaborations, mergers and acquisitions, expansions, and technology launches. Leading players strategically invest in research and development and expansion plans. For instance, in August 2021, the Indian government introduced an exceptional initiative called the Automotive Mission Plan to boost the automotive sector's contribution to the national GDP to 12%, creating around 50 million new jobs. The automobile industry in India is vital to the country's aim of achieving a US$ 5 trillion economy. Multiple multinational automobile brands are now present in the Indian market. The government is encouraging these companies to promote alternative fuel vehicles, providing new opportunities for vehicle component manufacturers as the automotive industry expands.

The market size of the EGR valves industry has been determined by utilizing primary and secondary sources. The research process commenced with a comprehensive secondary research study that employed internal and external sources to obtain qualitative and quantitative data related to the market. This approach was used to gain an overview and projection for the EGR valves market concerning all its segments. Additionally, primary interviews were conducted with key industry players, including business development managers, VPs, national sales managers, and market intelligence managers. External consultants, such as key opinion leaders, research analysts, and valuation experts specializing in the EGR valves market, were also included in the research process to verify the data and gather more analytical insights.

Some significant players in the EGR valves market include BorgWarner Inc, Continental AG, Nissens Automotive A/S, Denso Corporation, KORENS. Co., LTD., Mahle GmbH, Mitsubishi Electric Corporation, Rheinmetall Automotive AG, Tenneco Inc., and Valeo.