Europe EGR Cooler Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Tube EGR Coolers, and Finned EGR Coolers); Engine Type (Diesel Engine, and Gasoline Engine); Vehicle Type (Passenger Vehicles, and Commercial Vehicles), and Country

The EGR cooler market in Europe is expected to grow from US$ 119.00 Mn in 2019 to US$ 114.40 Mn by 2027; it is estimated to grow at a CAGR of 2.7% from 2020 to 2027.

The automobile sector is experiencing considerable developments in terms of advanced technologies, advanced technologies for EGR are encouraging automotive OEMs to adopt EGR cooler systems; thus, the automobile industry has a significant impact on the Europe EGR cooler market. The EGR cooler market operates in a highly fragmented and competitive marketplace. As leading companies in this market continue to broaden its addressable market, by expanding its current offerings, diversifying its client base, all the prominent players face an increasing level of competition. Several companies in the market are developing new products to maintain their position in the market and provide efficient products to their customers. For instance, in October 2018, BorgWarner, Inc. introduced an EGR system that helps automakers in meeting growing emission standards. The system helps to cut down NOx emissions for various diesel vehicles. It comes in a compact package that unites several technologies, which includes an EGR cooler, a bypass, and an EGR valve.

Moreover, the region is the primary hub for the producer of passenger vehicles such as Ford, Hyundai Motor, Iveco, and Volkswagen. The region EGR cooler market is majorly driven by the growing demand for passenger cars. Germany is one of the largest automotive markets. The country comprises of major automotive manufacturers such as Daimler AG, BMW, VW, Opel, and Audi among others. For instance, Germany is one of the major producers of over 6 million passengers and commercial vehicles per year. The strong automobile sector of the region, and also has the presence of some significant premium car manufacturers in the EU, is driving the EGR cooler market. Further, vehicle production has declined due to the shutdown of factories; ~1,465,415 motor vehicles are in loss owing to this pandemic, it includes passenger cars, vans, trucks, buses, and coaches. This is anticipated to negatively impact market growth in Europe.

The tube EGR cooler segment led the EGR cooler market based on type in 2019. Tube EGR coolers are used to insert exhaust gases into the engine or combustion chambers. The EGR coolers are integrated with the heat exchangers which maintain the required temperature inside the automotive engines. There is various tube type EGR cooler available in the market such as floating-head type, fixed tube-sheet type, and U-tube type. These types are being used based on the thermal stresses in the tube, or tube-sheet, as well as temperature variances occur due to heat transfer. The exhaust gases are passed through the tubes to the coolant, where gases get cooled present on the shell side. Inside the coolant systems, cover layers integrated into the coolant tank for boosting the contact time of the coolant liquid with the tubes comprises of EGR.

The overall Europe 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 Europe EGR cooler market with respects to all the segments pertaining to the region. 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 Europe EGR cooler market are Benteler Automotive, BorgWarner Inc., Faurecia, Hanon Systems, Korens Co. Ltd., Valeo, MAHLE GmbH, Rheinmetall Automotive AG, Denso Corporation, Continental AG are among a few players operating in the Europe EGR cooler market.