EXHAUST GAS RECIRCULATION (EGR) VALVE MARKET ANALYSIS
Global Exhaust Gas Recirculation (EGR) Valve Market: Regional Insights
North America held a dominant position in the global exhaust gas recirculation market in 2016, and is expected to retain its dominance throughout the forecast period. The features that are helping growth of EGR valves market in the region are; it helps improve the engine’s life by reducing temperature in the combustion chamber, decreases fuel consumption and aims to improve engine efficiency. The region has large number of vehicles as compared to other regions. For instance, according to WHO analysis the U.S. has 0.83 vehicle per person. Along with number of vehicles, the need for EGR valve increases to attain fuel economy. Owing to these reasons, the EGR valve market in North America is expected to exhibit high growth in the near future.
The market in Asia Pacific is estimated to exhibit the highest CAGR over the forecast period. This is attributed to increasing per capita income in the region (according to World Bank report), which is boosting growth of vehicles market and is in turn affecting growth of the EGR valves market.
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