Automotive EGR Cooler Market – Global Industry Analysis, Size, Share, Growth & Forecast (2022-2030)
Emphasis on Type (Shell & Tube coolers and Fin & Tube coolers), Application (Passenger Vehicles, Commercial Vehicles, and Off-Highway Vehicles), Engine Type (Diesel Engines and Gasoline Engines), Sales Channel (OEMs and Aftermarket) and Region/Country.
The automotive EGR cooler market is expected to grow at a steady CAGR of around 5% during the forecast period (2022-2030).The automobile EGR system is a crucial piece of technology for the emission control of automobiles. EGR system basically recycles exhaust gas through the EGR cooler and sends it back to the engine to burn with the new fuel, resulting in emission cut by burning exhaust more thoroughly and also results in boosting up the fuel efficiency, additionally, it also protects the engine and enhances its life by lowering combustion temperature with cooled exhaust gas. Furthermore, EGR systems are vital in an engine as it is used for cutting down the NOx gas emissions from the vehicle which are highly toxic, contributing to smog, acid rains, and health problems due to poor air quality in populated areas. Moreover, today most engines have EGR systems, but rising demand for passenger cars across segments along with stringent government laws over tailpipe emissions across the world is boosting the demand for EGR systems in vehicles more so ever than before. For instance, on April 2023, the Bharat stage 6 (BS6) emission norms has come into effect in India where while the BS4 emission norms allow a motor vehicle to emit not more than 80mg/km of NO2 (nitrogen oxides), the BS6 emission norms have reduced it to 60mg/km. The Particulate Matter (PM) for petrol vehicles has been restricted to 4.5mg/km in the BS6 emission regime.
Some of the major players operating in the market include DENSO CORPORATION; BorgWarner Inc; MAHLE GmbH; Valeo; ACDelco; AMBAC International; MODINE MANUFACTURING COMPANY; Kelvion Holding GmbH; Senior Flexonics; and Nissens Automotive A/S.
Insights Presented in the Report
Based on application, the market is segmented into passenger vehicles, commercial vehicles, and off-highway vehicles. Among these, passenger vehicles hold a significant market share owing to the fact that they are one of the most common modes of transportation around the world especially in developed countries. Moreover, rising working populations have increased both income as well as the need for mobility which is further boosting the demand for passenger vehicles. Furthermore, rapid urbanization and increased capital expenditure on the infrastructure by the governments are also one of major drivers boosting the demand for passenger vehicles across the world.
Automotive EGR Cooler Market Report Coverage
“Asia Pacific dominated the automotive EGR cooler market in 2021.”
The automotive EGR cooler market in the Asia Pacific region is going to grow at a significant CAGR throughout the forecast period. Major countries in the Asia Pacific like India, China, Vietnam, etc are going to be the huge market for automotive EGR coolers owing to the increasing economic growth rate in these countries which are some of the fastest growing economies in the world, driving the consumption with increasing income, and automobile sectors have been proven to be the biggest beneficiaries of these trends as it has happened in past in the developed world. Moreover, China is still among one of the largest automobile markets and the same things can happen in other Asia Pacific countries owing to its huge population and increased mobility with the working population on the rise driving the rate of urbanization which is also a major driver for the demand in the automobile sector. For instance, on February 2023, the Indian government presented a budget where they announced a whopping 37.4% increase in capital expenditure on infrastructure to USD 125 billion for the year 2023-24.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global automotive EGR cooler market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Automotive EGR Cooler Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive EGR cooler market were the three major steps undertaken to create and analyze the adoption of automotive EGR coolers in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive EGR cooler market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the automotive EGR cooler market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the automotive EGR cooler market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, application, engine type, and sales channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive EGR cooler market. Further, we conducted factor analysis using dependent and independent variables such as type, application, engine type, and sales channel of the automotive EGR cooler market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive EGR cooler market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive EGR cooler market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the automotive EGR cooler market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global automotive EGR cooler market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Emphasis on Type (Shell & Tube coolers and Fin & Tube coolers), Application (Passenger Vehicles, Commercial Vehicles, and Off-Highway Vehicles), Engine Type (Diesel Engines and Gasoline Engines), Sales Channel (OEMs and Aftermarket) and Region/Country.
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive EGR cooler market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, application, engine type, and sales channel in the global automotive EGR cooler market.
The main objective of the Global Automotive EGR Cooler Market Study
The current & future market trends of the global automotive EGR cooler market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the automotive EGR cooler market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, application, engine type, and sales channel.
- Define and analysis of the regulatory framework for the automotive EGR cooler industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the automotive EGR cooler market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the automotive EGR cooler market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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