Remanufactured Revolution: Exploring the Automotive Parts Segmentation Analysis and Global Opportunities Market

UNITED STATES, BURLINGAME, UNITED STATES, May 23, 2024 /EINPresswire.com/ -- The automotive parts remanufacturing market is projected to witness significant growth over the forecast period owing to increasing focus on circular economy by major automotive OEMs and governments. Circular economy aims to keep resources in use for longer and extract maximum value from products and materials while they remain in use through practices such as remanufacturing. To reduce waste and promote sustainability, many countries have established regulations and take-back programs mandating core collection of used auto parts which is driving growth of the remanufactured components market. Additionally, remanufactured auto parts are approximately 30-70% cheaper than new OEM components further aiding their adoption and demand growth.

Global Automotive Parts Remanufacturing Market is estimated to be valued at US$ 118.2 Bn by 2030.

Request a sample copy of the report @https://www.coherentmarketinsights.com/insight/request-sample/1498

Automotive Parts Remanufacturing Market Driver: Rising Cost Savings Associated with Remanufactured Parts

The automotive parts remanufacturing market is seeing increasing growth due to the significant cost savings that remanufactured parts provide compared to new OEM parts. On average, remanufactured cores can save vehicle owners 40-70% of the cost of new parts. As the costs of new automotive components continue rising each year, more consumers and commercial fleet owners are turning to remanufactured alternatives to reduce their maintenance and repair budgets. Not only are remanufactured components considerably more affordable up front, they also carry comparable warranties and performance qualities to new parts. The cost differential has made remanufactured parts an attractive proposition for both individual car owners and large fleet operators looking to cut costs. This growing awareness and acceptance of remanufactured automotive components as a more affordable solution is driving greater demand in the market.

Key Company Profiles:

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.

Automotive Parts Remanufacturing Market Opportunity: Growth of Electric Vehicles

One significant opportunity area for the automotive parts remanufacturing market is in electric vehicles. As EVs see rising global sales fueled by environmental policies and technological progress, the need for component repair and replacement in these vehicles will grow over the coming years. While electric powertrains have fewer moving parts compared to internal combustion engines, EV motors, batteries and electronic control modules will require maintenance and remanufacturing. The specialized nature of these components points to ample growth prospects for players who make early investments in developing remanufacturing solutions for EV technology. Capitalizing on the emerging aftermarket needs of electric vehicles can help drive new revenue streams and market expansion for automotive parts remanufacturers. Strategic partnerships between original EV manufacturers and independent remanufacturers also hold opportunity for facilitating efficient remanufacturing ecosystems for EVs.

Automotive Parts Remanufacturing Market Trend: Adoption of Advanced Testing and Quality Assurance Methods

A major trend positively impacting the automotive parts remanufacturing industry is the increased focus on advanced quality assurance systems and testing standards. Customers are more discerning about the performance, reliability and warranty coverage of remanufactured components. To meet these expectations, industry players have boosted investments in areas such as closed-loop material traceability, non-destructive testing at various assembly stages, and rigorous validation protocols to guarantee like-new quality. Automated monitoring and inspection technology are helping improve consistency. Advanced machining centers also enhance dimensional accuracy in remanufacturing. The incorporation of Industry 4.0 solutions is raising the bar for quality assurance. With remanufacturers prioritizing stringent testing and certification procedures on par with OEM standards, it is helping broaden customer acceptance of these affordable automotive parts and support continued industry growth.

This Report lets you identify the opportunities in Automotive Parts Remanufacturing Market by means of a region:

⦿ North America (the United States, Canada, and Mexico)
⦿ Europe (Germany, UK, France, Italy, Russia and Turkey, etc.)
⦿ Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
⦿ South America (Brazil etc.)
⦿ The Middle East and Africa (North Africa and GCC Countries)

Request for Report Customization @https://www.coherentmarketinsights.com/insight/request-customization/1498

Research Scope

Scope - Highlights, Trends, Insights. Attractiveness, Forecast

Market Sizing - Product Type, End User, Offering Type, Technology, Region, Country, Others

Market Dynamics - Automotive Parts Remanufacturing Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain

Business Framework - Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments

Competitive Landscape - Automotive Parts Remanufacturing Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
Key questions answered in the report include:

ᗒ How Automotive Parts Remanufacturing Market industry market will boom in 2024?

ᗒ which are prominent key players will be growing the market?

ᗒ Which enterprise size accounted for the largest data center colocation market share?

ᗒ What is the Compound Annual Growth Rate(CAGR) of the market during the forecast period (2024-2031)?

Buy Now @ https://www.coherentmarketinsights.com/insight/buy-now/1498

Mr. Shah
Coherent Market Insights Pvt Ltd
+1 2067016702
email us here