Global Automotive Parts Remanufacturing Market Report 2022: A $54.71 Billion Market in 2021 - Shortage of Raw Materials Driving Growth to 2028

DUBLIN, Jan. 27, 2023 /PRNewswire/ -- 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.

Scope of the Report

• The report analyses the Automotive Parts Remanufacturing Market by value (USD Million).
• The report analyses the Automotive Parts Remanufacturing Market by volume (Million Units).
• The report presents the analysis of Automotive Parts Remanufacturing market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028.
• The report analyses the Automotive Parts Remanufacturing Market by Component (Engine & Related Parts, Transmission & Others, Electrical & Electronics, Wheels & Brakes, Fuel Systems, Other Components).
• The report analyses the Automotive Parts Remanufacturing Market By Vehicle (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, Off-Road Vehicles, All-Terrain Vehicles).
• The Global Automotive Parts Remanufacturing Market has been analyzed by countries (United States, Canada, Mexico, Germany, UK, Russia, China, Japan, India, South Korea).
• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by component, by vehicle.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• 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 Target Audience:

• Automotive Manufactures
• Consulting and Advisory Firms
• Research and Development Organizations
• Government and Regulatory Authorities

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
10.3.1 ZF Friedrichshafen
10.3.2 BBB Industries
10.3.3 Meritor Inc.
10.3.4 Budweg
10.3.5 Monark Automotive
10.3.6 Cardone Industries
10.3.7 Robert Bosch
10.3.8 Caterpillar Inc.
10.3.9 Volvo Group
10.3.10 Carwood

For more information about this report visit https://www.researchandmarkets.com/r/lsyrrs-automotive?w=5

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact: Laura Wood | +353-1-481-1716 | [email protected]

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-automotive-parts-remanufacturing-market-report-2022-a-54-71-billion-market-in-2021---shortage-of-raw-materials-driving-growth-to-2028--301732546.html

SOURCE Research and Markets