Europe Automotive Parts Remanufacturing Market Analysis By Manufacturers Borg Automotive A/S, Budweg Caliper A/S, Caterpillar, LuK Unna

Remanufacturing is the rebuilding of the product according to specifications of the original product with the combination of reused or repaired parts and new components. It requires replacement or repair of damaged or obsolete components and modules. In remanufacturing, a new part is restored from an existing core through the standardized industrial procedure in line with technical specifications to provide similar performance and warranty than the original part. Moreover, remanufactured parts cost around 60-70% of the original product with the same or more guarantee than the original product. Automotive parts manufacturing procedure includes namely dismantling, restoring and replacing of components, and testing of individual parts to its original design.

The Europe automotive parts remanufacturing market is estimated to account for US$ 15,059.1 Mn in terms of value by the end of 2019

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐍𝐨𝐰 𝐰𝐢𝐭𝐡 𝐒𝐨𝐦𝐞 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬!
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**𝐢𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠 𝐓𝐎𝐂,𝐟𝐢𝐠𝐮𝐫𝐞𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐫𝐭+𝟑𝟎 𝐦𝐢𝐧𝐮𝐭𝐞𝐬 𝐨𝐟 𝐜𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐭𝐢𝐨𝐧

* country level analysis for any 5 𝒄𝒐𝒖𝒏𝒕𝒓𝒊𝒆𝒔 𝒐𝒇 𝒚𝒐𝒖𝒓 𝒄𝒉𝒐𝒊𝒄𝒆.
* Competitive analysis of any market players.
* 40 𝒂𝒏𝒂𝒍𝒚𝒔𝒕 𝒉𝒐𝒖𝒓𝒔 to cover any other data points

Market Dynamics- Driver

Strict regulatory policies concerning waste management are expected to drive growth of the Europe automotive parts manufacturing market growth during the forecast period
Government regulatory policies are focused on gradually promoting resource productivity, leading towards potential pricing of the environment. For instance, Directive 2008/98/EC of the European Council and Parliament on waste established a legal framework for the treatment of waste in European countries. Moreover, it set basic definitions, principles, and concepts such as waste hierarchy and polluter pay principle. Europe’s responses are expected to include tougher environmental standards for products and ways to charge ecosystem services and resources in the near future. Thus, these factors are expected to accelerate remanufacturing of automotive parts and thereby drive the market growth during the forecast period.

Increasing awareness among consumers regarding eco-friendly products is expected to propel the Europe automotive parts remanufacturing market growth over the forecast period
Consumers are focused on adopting eco-friendly and sustainable products that use fewer materials or less energy. According to a study about sustainable consumption by European Remanufacturing Network, in 2015, over 80% of the European citizens acknowledged that they preferred products that have minimum impact on the environment. Therefore, key players in the market such as Robert Bosch GmbH are adhering to environmental protection norms and work safety, which in turn, is expected to boost the market growth over the forecast period.

𝑾𝒉𝒂𝒕 𝒅𝒐𝒆𝒔 𝒂𝒍𝒍 𝒕𝒉𝒆 𝒓𝒆𝒈𝒊𝒐𝒏𝒂𝒍 𝒔𝒆𝒈𝒎𝒆𝒏𝒕𝒂𝒕𝒊𝒐𝒏 𝒄𝒐𝒗𝒆𝒓? 𝑪𝒂𝒏 𝒕𝒉𝒆 𝒄𝒐𝒖𝒏𝒕𝒓𝒚 𝒐𝒇 𝒔𝒑𝒆𝒄𝒊𝒇𝒊𝒄 𝒊𝒏𝒕𝒆𝒓𝒆𝒔𝒕 𝒃𝒆 𝒂𝒅𝒅𝒆𝒅?
Currently, the research report pays particular attention to the following regions:
𝑵𝒐𝒓𝒕𝒉 𝑨𝒎𝒆𝒓𝒊𝒄𝒂 (𝑼𝒏𝒊𝒕𝒆𝒅 𝑺𝒕𝒂𝒕𝒆𝒔, 𝑪𝒂𝒏𝒂𝒅𝒂, 𝑴𝒆𝒙𝒊𝒄𝒐), 𝑬𝒖𝒓𝒐𝒑𝒆 (𝑮𝒆𝒓𝒎𝒂𝒏𝒚, 𝑼𝒏𝒊𝒕𝒆𝒅 𝑲𝒊𝒏𝒈𝒅𝒐𝒎, 𝑭𝒓𝒂𝒏𝒄𝒆, 𝑰𝒕𝒂𝒍𝒚, 𝑹𝒖𝒔𝒔𝒊𝒂, 𝑺𝒑𝒂𝒊𝒏, 𝒆𝒕𝒄.), 𝑺𝒐𝒖𝒕𝒉 𝑨𝒎𝒆𝒓𝒊𝒄𝒂 (𝑩𝒓𝒂𝒛𝒊𝒍, 𝑨𝒓𝒈𝒆𝒏𝒕𝒊𝒏𝒂, 𝒆𝒕𝒄.) 𝒂𝒏𝒅 𝑴𝒊𝒅𝒅𝒍𝒆 𝑬𝒂𝒔𝒕 𝒂𝒏𝒅 𝑨𝒇𝒓𝒊𝒄𝒂 (𝑺𝒂𝒖𝒅𝒊 𝑨𝒓𝒂𝒃𝒊𝒂, 𝑺𝒐𝒖𝒕𝒉 𝑨𝒇𝒓𝒊𝒄𝒂, 𝒆𝒕𝒄.)
** A country of specific interest can be included at no additional cost. For the inclusion of more regional segments, quotes may vary.

Market Dynamics- Restraints

Lack of skilled workers and technical know-how about third-party products are expected to restrain growth of the Europe automotive parts remanufacturing market during the forecast period
For remanufacturing of old automotive parts, technical knowledge of each component is essential, which is not readily available to non-OEMs. Furthermore, lack of skilled engineers and labors to perform specific operation result in major errors. The complex design for fuel system, engines, etc. makes it extremely challenging for engineers and laborers to process technical information and experience to solve problems and redesign the parts. These factors are expected to hinder the market growth over the forecast period.

Requirement of significant investment to meet technological advancements is expected to hamper the Europe automotive parts manufacturing market over the forecast period
A substantial amount of investment is needed, in order to meet advanced technological demands. Such large investment is not possible for small and mid-sized enterprises, which in turn, is expected to hinder the Europe automotive parts manufacturing market growth over the forecast period.

Market Opportunities

Provision of alternative reuse options for the automotive industry is expected to offer growth opportunities
The End-of-Life Vehicles (ELV) legislation in the European countries is expected to boost the remanufacturing industry in Europe. Moreover, vehicle longevity has been gradually increasing, thus average age of vehicles is over seven years. Therefore, manufacturers have an opportunity to gain traction as more spare parts will be required. From the technical perspective, electronics, being a highly under-estimated sector, demands significant information systems expertise. These factors are expected to provide various opportunities for the remanufacturing market.

𝑻𝒉𝒆 𝒎𝒂𝒊𝒏 𝒌𝒆𝒚 𝒑𝒍𝒂𝒚𝒆𝒓𝒔 𝒊𝒏 𝒕𝒉𝒆 𝒊𝒏𝒅𝒖𝒔𝒕𝒓𝒚 𝒂𝒓𝒆- Key players operating in the Europe automotive parts remanufacturing market are Borg Automotive A/S, Budweg Caliper A/S, Caterpillar Inc., LuK Unna GmbH & Co. KG, Valeo SA, Schouw & Co., ZF Friedrichshafen AG, Monark Automotive GmbH, Carwood Group, Robert Bosch GmbH, and Meritor, Inc.

𝑪𝒂𝒏 𝒘𝒆 𝒂𝒅𝒅 𝒐𝒓 𝒑𝒓𝒐𝒇𝒊𝒍𝒆 𝒂 𝒏𝒆𝒘 𝒄𝒐𝒎𝒑𝒂𝒏𝒚 𝒂𝒄𝒄𝒐𝒓𝒅𝒊𝒏𝒈 𝒕𝒐 𝒐𝒖𝒓 𝒏𝒆𝒆𝒅𝒔?
Yes, we can add or profile a new company according to customer needs in the report. Final confirmation should be provided by the research team depending on the difficulty of the investigation.
** The availability of data will be confirmed by research in the case of a private company. 𝑼𝒑 𝒕𝒐 3 𝒑𝒍𝒂𝒚𝒆𝒓𝒔 can be added at no additional cost.

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