Dublin, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The "Global Automotive Parts Remanufacturing Market - Analysis By Component, By Vehicle (PV, LCV, HCV, ATV, ORV), By Region, By Country: Market Size, Insights, Competition, Covid-19 Impact and Forecast (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Parts Remanufacturing market was valued at USD 54710.12 Million in 2021 and is expected to grow at a CAGR of 7.43% during the forecast period of 2023-2028.
The shortage of raw materials is driving the growth of the automotive parts remanufacturing market as remanufactured parts are extracted from older vehicles and renovated. This factor eliminates the need to exact materials from mines and ores. Remanufactured parts cost nearly 50-75% as much as the original product while providing the same quality.
Further, strict government regulations towards waste management is resulting in a decline in the manufacturing of new automotive parts and the rising awareness among consumers for eco-friendly products is boosting the demand for the remanufactured parts market globally.
End customers have various options for automotive parts remanufacturing in the market. Predictive maintenance, also referred to as condition-based maintenance, is a technique adopted by companies to continuously monitor real working conditions to ensure asset optimization of the installed parts in the vehicles. Engine and related parts and electronics and electrical equipment are the most popular products used in the industry, which are utilized not only in passenger vehicles but also in LCVs and HCVs.
Further, the widespread use of remanufactured parts in passenger vehicles is expected to remain the most potential category by present vehicle types. Hence the companies are focusing on this segment.
Overall, the Automotive Part Remanufacturing market is fragmented and China, India and United States are estimated to be the largest contributor to the global market owing to increasing vehicle parts remanufacturing facilities as well as sales.
The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
The companies analysed in the report include
- ZF Friedrichshafen
- BBB Industries
- Meritor Inc.
- Budweg
- Monark Automotive
- Cardone Industries
- Robert Bosch
- Caterpillar Inc.
- Volvo Group
- Carwood
Key Metrics
| Report Attribute | Details |
| No. of Pages | 280 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $58.23 Billion |
| Forecasted Market Value (USD) by 2028 | $89.3 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction: Automotive Parts Remanufacturing Market
1.1 Overview
1.2 Scope of Research
2. Executive Summary
2.1 Market Dashboard
2.2 Regional Insights
2.3 Market Ecosystem Factors
3. Research Methodology
3.1 Data Collection Process
3.2 Market Trajectory Estimation
3.3 Market Size Calculation
4. Automotive Parts Remanufacturing Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Trends
4.5 Impact assessment of Market Dynamics
5. Value Chain Analysis
5.1 Component Suppliers
5.2 Remanufacturers
5.3 Distributors/Retailer
5.4 Spare Part Suppliers
6. Covid-19 Impact Assessment
6.1 Assessment of Degree of Impact of Covid-19 on GaN Device Market
6.2 Region-Wise Quarterly Covid Impact Analysis
7. Porter's Five Forces Analysis
8. Macro Economic Indicator Outlook
8.1 Manufacturing Sector
8.2 Global Vehicle Sales
8.3 Investments in Different Sectors
8.4 Gross National Income, PPP
8.5 Urbanization
9. Automotive Parts Remanufacturing: Average Selling Price Analysis
9.1 Average Selling Price, By Region
9.2 Average Selling Price, By Type
10. Competitive Positioning: Automotive Parts Remanufacturing Market
10.1 Companies' Product Positioning
10.2 Market Position Matrix
10.3 Market Share Analysis
11. Volumetric Analysis, Units, 2018-2028
11.1 Global Automotive Parts Remanufacturing Market, By Volume
11.1.1 Global Automotive Parts Remanufacturing Market, 2018-2028 (Units)
11.1.2 Global Automotive Parts Remanufacturing Market, By Components, 2018-2028 (Units)
11.1.3 Global Automotive Parts Remanufacturing Market, By Components, 2018-2021, 2023-2028 CAGR (%)
12. Global Automotive Parts Remanufacturing Market Trends and Forecast Analysis, 2018-2028, USD MILLION & CAGR
12.1 Macro Economic Factor Impact Index
12.2 Automotive Parts Remanufacturing Market: Dashboard
12.3 Automotive Parts Remanufacturing Market Size, By Value, 2018-2021(USD Million)
12.4 Automotive Parts Remanufacturing Market Size, By Value, 2022-2028 (USD Million)
12.5 Automotive Parts Remanufacturing Market: Summary
13. Global Automotive Parts Remanufacturing Market Trend And Forecast Analysis, 2018-2028, By Component
13.1 Automotive Parts Remanufacturing Market Trend And Forecast Analysis, By Component: Snapshot
13.2 Engine & Related Parts
13.3 Transmission & Others
13.4 Electrical & Electronics
13.5 Wheels & Brakes
13.6 Fuel Systems
13.7 Other Components
14. Global Automotive Parts Remanufacturing Market Trend And Forecast Analysis, 2018-2028, By Vehicle
14.1 Automotive Parts Remanufacturing Market Trend And Forecast Analysis, By Vehicle: Snapshot
14.2 Passenger Vehicles
14.3 Light Commercial Vehicles
14.4 Heavy Commercial Vehicles
14.5 Off-Road Vehicles
14.6 All-Terrain Vehicles
15. Global Automotive Parts Remanufacturing Market Trend And Forecast Analysis, 2018-2028, By Region
15.1 Regional Coverage of the Study
For more information about this report visit https://www.researchandmarkets.com/r/4362fa-automotive?w=12
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