The exhaust gas regulation (EGR)coolermarket was valued at US$511.6 millionin 2019 and is projected to reach US$ 527.8 million by 2027; it is expected to grow at a CAGR of 1.5% from 2020 to 2027.

With the emergence of environmental issues such as global warming, automobile exhaust gas regulations are being tightened. As a result, various exhaust gas reduction technologies are being developed in various countries to meet the regulations pertaining to exhaust emissions. The EGR technology efficiently reduces nitrogen oxides (NOx) emissions at lower temperatures, which is otherwise taken care at high combustion temperatures. The EGR coolerswere earlier mass-produced using stainless steel, but the material is heavy and costly. The coolers nowadays need to deliver high performance and meet the compactness levels to satisfy the current pollution regulations. The addition of aluminum to the stainless steel EGR coolers leads to efficient heat transferdue to the high heat transfer coefficient of the metal; moreover, the products are light in weight. Thus, in the future, materials like aluminum are likely to become a viable option for the materials used to produce the traditional EGR coolers.

The EGR cooler market in North America is primarily driven by factors such as the rising number of passenger cars, growing transportation infrastructure, and increasing awareness about robust features of EGR coolers. Thus, the market in the region is witnessing numerous developments in smartphone-controlled audio systems and voice-enabled audio systems, among others. As per the Organization International des Constructeurs d'Automobiles (OICA), the production of commercial vehicles in the US increased in 2019, compared to that in 2018, which is noted to be ~12,764,999 in numbers. Thus, the continuous increase in the number of commercial vehicles in the US raises the demand for EGR coolers.

The EGR cooler market is highly fragmented and competitive. As leading companies in this market continue to broaden their reach, by expanding current offerings and diversifying client base; this is adding to the competition among prominent, as well as emerging, players. Several companies in the market are developing new products to retain their position in the market; this also enables them to offer efficient products to their customers. For instance, in October 2018, BorgWarner, Inc., introduced an EGR system that helps automakers in meeting rising emission standards. The system helps cut down NOx emissions for various diesel-driven vehicles. It comes in a compact package that unites several technologies, including an EGR cooler, a bypass, and an EGR valve.

The market for EGR cooler has been segmented on the basis of type, engine type, vehicle type, and geography. Based on type, the EGRmarket has been segmented into tube EGR Coolers and finned EGR coolers. Based on engine type, the EGR cooler market has been segmented into diesel and gasoline. Based on vehicle type, it has been segmented into passenger vehicles and commercial vehicles. On the basis of geography, the EGR Coolermarket is fragmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).

The key companies profiled in the EGR cooler market include Benteler Automotive, BorgWarner Inc., Continental AG, Denso Corporation, erae Automotive Systems Co., Ltd., Faurecia, Hanon Systems, Korens Co. Ltd., MAHILE GmbH, Maruyasu Industries Co., Ltd., Tokyo Radiator MFG. Co., Ltd, Tokyo Roki Co. Ltd., Rheinmetall Automotive AG, Senior Flexonics, and Valeo SA.

The overall EGR cooler market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the EGR cooler market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the EGR cooler industry.