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Title: Automotive Parts Re-manufacturing Market Analysis | CMI


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
AUTOMOTIVE PARTS RE-MANUFACTURING MARKET ANALYSIS
  • Automotive Parts Remanufacturing Market - by
    Component Type (Engine Related Parts,
    Transmission Related, Electrical Electronics,
    Wheels Brakes Related, A/C Compressors,
    Steering, Fuel Systems, and Others), by Vehicle
    Type (Passenger Cars, LCV, HCV, Off-road
    vehicles, and All-terrain Vehicles), and by
    Region - Global Industry Insights and Forecast
    till 2025
  • Automotive parts remanufacturing market refers to
    the business involved in the manufacturing
    process that includes product dismantling,
    replacing and restoring components, and testing
    of whole product and the individual parts to its
    original design specifications.

3
Market Drivers
  • The performance parameters that are equal or
    better than the previous component along with
    lower cost and warranty periods offered by the
    remanufacturers are among the key factors fueling
    growth of the Automotive Parts Remanufacturing
    Market.
  • Rebuilding of vehicle components benefits
    business in terms of the overall cost of
    manufacture through reduced energy consumption,
    reduced raw material requirements, reduced cost
    to the market, and increased price flexibility
    for the consumers. These factors are expected to
    be among the significant factors impacting the
    industry growth over the forecast period.

4
Figure 1. Global Automotive Parts Remanufacturing
Market, Key Dynamics
5
Market Opportunities
  • Reduced impact on environment, owing to waste
    generated and industry emissions through reuse of
    the vehicle parts will leverage the industry
    demand
  • In March 2018, the European Commission finalized
    its Circular Economy Package (COP) proposal that
    was originally proposed in 2015, for the
    introduction of set of directives and laws
    designed for the resource-efficient future of the
    European economies. The proposal details
    automotive parts remanufacturing market as an
    integral part for the reduction of emissions and
    wastes generated through end of life cycle of an
    automotive. Furthermore, with an estimated global
    vehicle parc over 1.2 billion, an expected
    increase of demand at around 3 year-on-year over
    the forecast period will present considerable
    requirement of raw materials for the
    manufacturing processes. Inadvertently, lack of
    raw material resources and the growing costs of
    mining metals, high carbon footprint on the
    environment due to high energy consumption, and
    water requirement for the new equipment
    manufacturing will increase the demand for
    remanufactured automotive parts over the coming
    years, thereby fueling growth of global
    automotive parts remanufacturing market.

6
  • Trends expected to provide high traction to the
    industry growth include extended life of
    components, advent of predictive maintenance, and
    IoT connectivity that increasingly complement the
    repeated processing of vehicle components and
    engines. Growing concerns for environment
    responsibility, potential opportunities in
    component costs reduction, reduced resource
    security challenges, reduced lead time, secure
    spare parts supply, and increasing consumer
    confidence are some of the major factors that
    enhance the profitability of the participants.
    These factors are expected to provide strong
    growth opportunities for the global automotive
    parts remanufacturing (reman) market.

7
Market Restraints
  • Lack of adequate recognition by consumers and
    unfavorable regulatory policies in the Asia
    Pacific economies are expected to hamper the
    overall industry growth
  • High competition from the vendors supplying
    recycled and repaired automobile body parts,
    shrinking price differences between these
    portfolio and the original products, and extended
    warranty of components are few factors
    restraining growth of the market. Moreover, lack
    of consumer recognition of the differences
    between used and reman products, as the
    connotation of the terminology is misconstrued,
    is another factor hindering growth of automotive
    parts remanufacturing market. Availability of the
    product at 60 of the original equipment also
    makes it difficult for vendors to overcome the
    consumer misconceptions regarding the product
    quality, specifically in emerging economies. In
    conjunction with these parameters, many Asian
    economies including India, have banned the import
    of cores, which forms the basic requirement for a
    remanufacturer. These parameters are expected to
    cause significant roadblock to the industry
    growth.

8
  • Increasing shortage of natural resources and
    difficulty in finding materials for manufacturing
    processes is among the major factors impacting
    the growth of automotive components manufacturing
    industries across the globe.

9
Segment Information
  • Europe accounted for the second largest share of
    global automotive parts remanufacturing market
    and is expected to hold its position over the
    forecast period. Industry participants have
    established strong foothold in the region, owing
    to increasing support from legislative
    authorities and the original equipment
    manufacturers.

10
Competitive Section
  • Some of the key players in the global automotive
    parts remanufacturing market include Valeo SA, ZF
    TRW, Carwood Group, Robert Bosch GmbH, Meritor
    Inc., Monark Automotive GmbH, Budweg Caliper A/S,
    Genuine Parts Company, ATC Drivetrain Inc., Maval
    Manufacturing Inc., Teamec BVBA, Motorcar Parts
    of America, Inc., and Jasper Engines and
    Transmissions.

11
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  • Reference https//www.coherentmarketinsights.com
    /market-insight/automotive-parts-remanufacturing-m
    arket-1498

12
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

13
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

14
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