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Exhaust gas recirculation (EGR) is an emission control technology allowing significant NOx emission reductions from most types of diesel engines: from light-duty engines through medium- and heavy-duty engine applications right up to low-speed, two-stroke marine engines.
The global Automotive Exhaust Gas Recirculation Systems market was valued at USD 2,008.6 million in 2020, growing with CAGR of 8.8% during the forecast period, 2021-2027.
The increasing number of vehicles on road is one of the crucial factors that drive the growth of the EGR systems market during the forecast period. For instance, according to the Green Car Reports, around 1.2 billion cars are on road presently and is expected to reach 2 billion by 2035. Moreover, the stringent regulations by the government to reduce the impact of pollution is another essential factor that penetrates the growth of the market during the forecast period.
The diesel engines segment is expected to grow at the highest CAGR during the forecast period. Exhaust gas recirculation (EGR) systems are broadly utilized in diesel engine vehicles which include light-duty, medium-duty, and heavy-duty vehicles. In diesel-powered engine vehicles, EGR acts in decreasing nitrogen oxide emissions. Along with this, it additionally allows in improving vehicles performance and average per mile. Hence, the diesel segment is growing at a rapid pace in the global market.
The COVID-19 pandemic significantly impacted various industries such as oil & gas, manufacturing, retail and others due to the lockdown imposed by governments across the globe to limit the spread of the virus. Moreover, the disruption in the supply chain of the product and services is the main cause that affects the market growth during a pandemic. Similarly, the COVID-19 pandemic significantly impacted the growth of the exhaust gas recirculation systems market due to the decline in automotive sales. For instance, according to the International Organization of Motor Vehicle Manufacturers, global auto production in 2020 was severely hit by the COVID-19 crisis with a 16% drop in world auto production. However, due to the ease of the lockdown by the government across the globe, the market will gain momentum in the approaching years.
Read More: https://www.giiresearch.com/report/anvi1064978-automotive-exhaust-gas-recirculation-systems.html
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