DUBLIN, Aug. 8, 2022 /PRNewswire/ — The “Global Exhaust Gas Recirculation (EGR) Cooler Market: Analysis By Engine Type (Diesel and Gasoline), By Vehicle Type (Commercial and Passenger), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026” report has been added to ResearchAndMarkets.com’s offering.
In 2021, the global EGR cooler market was valued at US$534.85 million. The market is projected to reach US$616.05 million by 2026.
The EGR cooler market is expected to grow at a CAGR of 3.07% during the forecast period of 2022-2026.
The Exhaust Gas Recirculation (EGR) cooler is a crucial part of car engines used to reduce Nitrous Oxide (NOx) levels. By rupturing chemical bonds in the combustion chamber of the engine, extreme heat creates new, harmful chemicals. Exhaust gas cooling reduces temperature peaks and slows the rate of combustion.
The primary function of EGR coolers is to reduce nitrous oxide levels by cooling exhaust gases before they are recirculated into the engine. New emission standards introduced by the governments and international organizations is a major driver of the market.
Market Segmentation Analysis:
By Engine Type: The report identifies two segments on the basis of engine type: Diesel and Gasoline. In 2021, the diesel segment accounted for more than 70% of the market. The diesel segment held the highest share as EGR coolers are mostly used in diesel based engines. Diesel engines produces more pollutants than others. Therefore, the use of EGR coolers have increased in diesel engines. The gasoline segment has been also increasing rapidly. Due to stringent regulations regarding new emission standards, use of EGR cooler in the gasoline engines have also increased.
By Vehicle Type: The report includes bifurcation of the market into two segments on the basis of vehicle type: Commercial Vehicle and Passenger Vehicle. The commercial vehicle segment accounted for more than 60% share of the market. Commercial vehicle segment recorded the highest share because the engines used in commercial or heavy duty vehicles are diesel engines. In addition, …