Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 4,629.5 million | USD 5,560.1 million | 6.5% | 2021 |
FrequentlyAsked Questions
Globally, one of the primary reasons for the increased utilization of EGR coolers in the automotive sector is the growing number of automobiles on the road. In addition, the government's rigorous regulations set on the automobile sector to reduce fuel emissions are driving car manufacturers to install EGR systems in their vehicles, which control gas emissions and EGR coolers help lower gas temperature. Thus increasing the demand in the coming years.
According to the Market Research report, the Automotive EGR System Market was worth about 4,629.5 (USD million) in 2021 and is predicted to grow to around 5,560.1 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 3.1 percent.
The Asia Pacific currently owns the largest share of the global automotive exhaust gas recirculation (EGR) cooler market and is likely to continue this position during the forecast period. The enormous amount of automobile manufacturing and sales in this region is infiltrating the automotive EGR cooler industry.
Some of the main competitors dominating the Automotive EGR System Market include - Mahle GmbH, Wells Vehicle Electronics, BorgWarner Inc., Combustion Ltd, Delphi ANSYS Inc., DENSO Europe BV, Eberspächer Climate Control Systems GmbH & Co. KG, Friedrich Boysen GmbH & Co. KG, ElringKlinger AG, and IAV GmbH.
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