Enjoy complimentary customisation on priority with our Enterprise License!
Market research analysts at Technavio predict that the commercial vehicle exhaust gas recirculation (EGR) system market in APAC will grow steadily during the next four years and in terms of units, will post a CAGR of almost 5% by 2021. This market research analysis identifies the growth of the e-commerce industry in countries such as China as one of the primary growth factors for this market. Due to factors such as the rise in usage of the Internet, increased number of online shoppers, and the rise in per capita income of the people, the recent years witnessed a significant increase in the growth of the e-commerce industry in Asia. It has been observed that due to features such as the availability of multiple opportunities for customers to choose from and real-time reviews on products, the e-commerce industry will post an impressive growth in China during the predicted period. This will demand the need for express delivery services and induce delivery service providers to purchase new commercial vehicles to meet the rising demand, subsequently fueling the growth of the EGR systems market in the next few years.
With the increasing awareness towards the need to reduce pollution levels, governments in the region will start focusing on encouraging the usage of natural gas engines in commercial vehicles, since a natural gas engine produces about 25% fewer carbon emissions than a diesel engine. A few countries in the APAC have already started initiatives to promote the adoption of natural gas engine commercial vehicles. For instance, the Chinese government has already made huge investments towards the development of automotive technology operating on natural gas, which will drive original equipment manufacturers (OEMs) to build more commercial vehicles compatible with natural gas.
What's your takeaway?
Technavio's industry research report on the Commercial Vehicle EGR System Market in APAC will help you-
Next step: Download FREE sample report | Talk to us
The market is characterized by the presence of a limited number of well-established vendors and appears to be moderately competitive. Focusing on expanding their customer base, the major EGR valve manufacturers are currently increasing their investments in R&D. With technological advancements and the introduction of government regulations, the competitive environment in the commercial vehicle exhaust emission systems market will further intensify in the coming years. One of the major vendors BorgWarner is currently the leading supplier of EGR valves in APAC and supplies EGR systems to major Indian commercial vehicle OEMs such as Tata Motors, Ashok Leyland, and Volvo Eicher.
The leading vendors in the market are -
The other prominent vendors in the market are Wuxi Longsheng, Pierburg, and Zhejiang Yinlun Machinery.
During 2016, the HCV segment accounted for the major shares and dominated the exhaust recirculation valve market. The increased preference for express delivery options offered by e-commerce platforms in China that encourages operators to increase their fleet of heavy-duty trucks will be a major factor fueling the growth of this market segment. Additionally, the rise in investments towards infrastructure development in countries including India, Japan, and South Korea that demands the transportation of raw materials and other bulk items will also play a significant role in the growth of the commercial vehicle exhaust emission systems market in this segment.
This market research and analysis estimates that China will be the major revenue contributor to the commercial vehicle EGR system market in APAC throughout the forecast period. The rise in industrial activities that have led to a subsequent decrease in air quality levels will induce the government to update its emissions standards. This will compel OEMs to recalibrate or upgrade the EGR systems, driving the growth of the market. Moreover, the availability of low-cost labor and the easy availability of raw materials that attract several companies to start manufacturing plants in the country, will drive the sales for commercial vehicles, which will in turn, boost the growth prospects of the EGR systems market.
Technavio also offers customization on reports based on specific client requirement.
This is preliminary content. The table of contents is subject to change.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
Tags: egr valve, exhaust systems, aviation technology, aerospace manufacturing, commercial vehicle EGR system market study in APAC, aerospace components indutry outlook,
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.