The EGR cooler market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. North America and the European Union have implemented stringent emission standards for vehicles with diesel engines. Regulatory programs developed in North America and Europe historically have served as the model for programs adopted in other regions. Countries such as Canada, South Korea, and Japan have kept pace with developments in the US and Europe. For countries where no standards enacted place, there is a substantial opportunity to mitigate emissions of dangerous air pollutants from vehicles. EGR system helps to reduce NOX gas formation by lowering peak combustion temperature and re-circulating unburnt exhaust gasses. Thus, other developing countries are focused on adopting advanced EGR cooler systems in vehicles. Further, other developing regions such as MEA and SAM are also projected to grow at a steady pace, owing to the increasing government initiatives to digitalize the economy with the adoption of advanced technologies.
EGR help increases fuel efficiency and reduces emissions along with engines’ power output, generally by circulating toxic gasses back to the combustion chamber for further combustion.
Multiple emission norms set up by governments and multiple organizations, such as Environment Protection Agency (EPA) in North America, EURO 6 in European Union, and Bharat Stage Emission Standards in India, have led toward acquiescence to these standards by vehicle manufacturers in their corresponding regions. All these standards focus on lowering the emission of nitrogen monoxide (NOx), carbon dioxide (CO2), particulate matter (PM), and no methane hydrocarbons (NMHC), among others. The standards, as mentioned above of emission has led to the invention of new technologies aiming to reduce the emission of these harmful gasses from vehicles’ combustion engines. EGR is one of the techniques being used to comply with these emission standards.
EGR help in circulating the harmful gasses emitted by an engine during combustion and distribute some portion of them back to the engine, which in turn burns less fuel and emits fewer toxic gases.
The emergence and rapid spread of coronavirus (COVID-19) has paralyzed numerous countries including developed as well as developing. The continuous surge in count of infected patients is threatening several industries across the globe. As of March 2020, China, Italy, the US, Iran, Spain, Republic of Korea, France, and Germany, are some of the worst affected countries in terms confirmed cases and reported deaths. According to the latest WHO figures, the confirmed COVID-19 positive patient count accounted for 976,249 and 50,489 total deaths globally. The coronavirus outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.
Since majority of the countries are exercising lockdowns, the demand for EGR coolers is decreasing at a prominent rate. This is due to the fact that, the key EGR coolers purchasing countries have been restricting their investment on these components, and are utilizing a fair percentage of their budget to combat COVID-19. The temporary shutdown of manufacturing facilities is also showcasing negative trend in the EGR coolers market. The continuity of the COVID-19 spread, would be severely dangerous for EGR coolers market players.
Based on type, the finned EGR coolers segment dominated lead the global EGR cooler market in 2019. Finned EGR coolers perform according to the customer requirements and are well suited, especially for light-duty engine applications, as well as provide outstanding performance under stabilized fouling.
Based on engine type, the diesel segment dominated the global EGR cooler market in 2019. Diesel engines are a type of internal combustion engine, whose internal temperatures inside the chamber are estimated to reach up to 2,500 degrees Fahrenheit at the time of combustion operation.
Based on vehicle type, the commercial vehicles dominated the global EGR cooler market in 2019. To meet the present as well as future emission regulations, the automakers are focusing on the development of EGR cooler for commercial vehicles along with other technologies such as selective catalytic reduction (SCR). With high durability requirements as well as lower production volumes, the commercial vehicle industry demands an EGR solution, which offers outstanding performance along with, reduces complexity.
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
The regional trends and factors influencing the EGR Cooler Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses EGR Cooler Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 511.6 Million |
| Market Size by 2027 | US$ 511.6 Million |
| Global CAGR (2019 - 2027) | 3.1% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The EGR Cooler Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the EGR Cooler Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - EGR Cooler Market
The finned EGR cooleris the leading type in the global market. Finned EGR coolers perform according to the customer requirements and are well suited, especially for light-duty engine applications, as well as provide outstanding performance under stabilized fouling.There are various features of the finned EGR coolers such as high thermal compliance, low fouling, and fully routable design. As per these features, the finned EGR cooler has its application across the automotive industry, especially in diesel engines, on/off highway applications, which includes small trucks, as well as smaller agricultural tractor applications.
APAC holds for a major share of the global EGR cooler market in 2019, due to the high rate of adoption of EGR coolers and the growing automotive industry, which leads to an increased vehicle production with EGR coolers, especially in India and China.China and Japan are the leading countries in the APAC EGR coolers market. The key reason behind significant demand in the countries mentioned above is the steep rise in the production of the passenger as well as a commercial vehicle in the region.
Several factors such as growing passenger vehicles on the road, electric vehicles, and automated technologies integrated within the cars, are positively affecting the EGR cooler market. The growth in car sales, growing disposable income, and rising demand for the EGR cooler are driving the market growth across the globe.The growing adoption of EGR Coolers, owing to the growing focus of the governments as well as automakers in order to promote the use of passenger as well as commercial vehicles, is projected to drive the demand for EGR Coolers during the forecast period.