(MENAFN- Ameliorate Digital Consultancy) 2022
Automotive Parts Remanufacturing Market to Benefit from Swelling Passenger Vehicle Parc & Higher Consumer Preference for Remanufactured Parts: PMR. The global automotive parts remanufacturing market is estimated to grow at a value CAGR of 7.1% over 2018-2026, roughly equating US$ 91 Bn by the end of 2026.
The automotive parts aftermarket is a multi-billion dollar industry that continues to grow every year. The demand for quality, reliable automotive parts has never been greater, and the remanufacturing of automotive parts has become an essential part of the supply chain. Remanufacturing is the process of repairing, cleaning, and testing used or damaged auto parts so they can be reused in new vehicles. Remanufactured parts are often as good as or better than original equipment manufacturer (OEM) parts, and they are much less expensive.
Request for Free Sample Copy of Automotive Parts Remanufacturing@
The remanufacturing of automotive parts is a growing industry because it helps automakers meet environmental regulations, saves money for consumers, and supports the economy by creating jobs.
Persistence Market Research (PMR) provides critical inputs and analysis on the Global Automotive Parts Remanufacturing market in its new study, ' Automotive Parts Remanufacturing Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026 '. The research report offers in-depth analysis on the Automotive Parts Remanufacturing market for the projected period. On the basis of findings in the report, remanufactured automotive parts are estimated to witness soaring demand in years to come, particularly owing to the growing need for cost competitive remanufactured diesel engines. Moreover, the expanding automotive fleet and increasing per capita spending power are contributing significantly to the growth of automotive parts remanufacturing market.
Key Companies-
ZF Friedrichshafen AG Robert Bosch GmbH Valeo SA Caterpillar Inc. AB Volvo Carwood Group Meritor, Inc., Budweg Caliper A/S Monark Automotive GmbH LuK Unna GmbH & Co. KG, BBB Industries CARDONE Industries Andre Niermann – automotive electrical products GmbH & Co.KG ATC Drivetrain LLC DAH KEE Co., Ltd. IM Group E&E TURBO Others
You Can Customize this Report As per Your Requirement@
Automotive Parts Remanufacturing Market: Key Dynamics
Among the various key factors underpinning growth of the automotive parts remanufacturing market, economic costs of remanufactured parts will continue to be the most sought after one. Better warranty and improved environmental footprint will also remain important factors impacting demand growth of automotive parts manufacturing.
The global automotive parts remanufacturing market is witnessing notable growth attributed to the rising number of vehicles with an average age of more than 10 years. Rampant urban population growth in developing countries, subsequently leading to the critical need for personal vehicles for commuting, is particularly resulting in the escalating personal vehicular parc in overall transportation system.
Rise in adoption of electrical vehicles is however expected to hamper the growth of automotive parts remanufacturing market as it will challenge the sales of diesel and gasoline driven vehicles. EVs have fewer number of mechanical components, which in turn, will mask the role of aftermarket in automotive parts landscape. This according to PMR will pose a strong threat to automotive parts remanufacturing market.
Automotive Parts Remanufacturing Market: Segmentation Overview
Segmentation of the Automotive Parts Remanufacturing market on the basis of components: Under the components segment, the Engine and Related Parts segment is projected to have dominated the market with a market share of 30.3% in 2017 in the automotive parts remanufacturing market. The Electrical & Electronics parts segment is projected to register highest growth rate in terms of value CAGR during the forecast period in the automotive parts remanufacturing market Segmentation of the Automotive Parts Remanufacturing market on the basis of vehicle type: In terms of Vehicles segment, the passenger vehicles segment is expected to dominate the automotive parts remanufacturing market owing to growing urban population and growing need for personal vehicles, especially in emerging countries, such as India and China. The growing average age of personal vehicles is also expected to be one of the main factors driving the growth of automotive parts remanufacturing market
Get Full Access of this Report@
Key Questions Answered in Automotive Parts Remanufacturing Market Report –
Who are the Major Manufacturers and Suppliers of Automotive Parts Remanufacturing?
What will the Automotive Parts Remanufacturing Market growth rate in Future?
What are the key factors driving the global Automotive Parts Remanufacturing Market?
Who are the key manufacturers in Automotive Parts Remanufacturing Market space?
What are the opportunities and threats faced by the vendors in the global Automotive Parts Remanufacturing industry?
What are sales, revenue, and price analysis by regions of Automotive Parts Remanufacturing industry?
Request you to Read More-
About us: –
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Contact Us:
Persistence market research
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales –
Germany Office:
Persistence Market Research
Potsdamer Platz 10 Haus 2, 5th Floor Berlin,
Germany 10785
Call +1 888-863-4084
Comments
No comment