EGR Valve Market EGR Valve Market | Página 2

Highly efficient and effective maintenance techniques for EGR valve are important for safer and cost efficient functions of in internal combustion engine. However, European region has witnessed economic slowdown in the EGR valve market over last few years. Yet, rise in the number of offshore sites and high-end demand from booming automotive sector from BRICS economies is expected to favor market growth over the next seven years. The market is broadly categorized into two major segments based on the application type such as electric EGR valve and pneumatic EGR valve. The electric EGR valve is considered as one of the fastest growing segment in the with substantial revenue generation in the last few years. Growing popularity of the electric EGR valve segment is attributed to the increasing demand from passenger vehicles. The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies, growing manufacturing activities, soaring demand for automobile industry, market expansion for petroleum refining plants, increase in the number of research & development activities in the region and existence of well- established infrastructure. Asia-Pacific region is predicted to hold major market share in the EGR valve market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid growth in automotive and energy & power sectors, strong economic growth, rising per capita income, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the EGR valve market are Lames S.p.a, SHB Group, Inc., Inteva Products, LLC, Aisin Seiki Co., Ltd., ZhongShan ShengTai Automobile Parts Co., Ltd., Hi-Lex Co., Grupo Antolin Co., and Valeo Pvt., Ltd. Browse Related Category Market Reports @ https://www.millioninsights.com/industry/automotive-and-parts