Europe Automotive Parts Remanufacturing Market is Expected To Propel Key Trends and Growth Rate at a CAGR of 7.4% by 2027 | LuK Unna GmbH & Co. KG, Valeo SA, Schouw & Co., ZF Friedrichshafen AG, Monark Automotive GmbH

Automotive spare parts, especially after some time of continuous use, experience wear and tear or damage, and need replacement or repair. Automotive parts remanufacturing refers to the business involved in the manufacturing process, such as product dismantling, replacing, and restoring. A properly remanufactured part is virtually indistinguishable from a new part and is the functional equivalent of a new part. Remanufactured parts undergo extensive testing to ensure they meet industry specifications in order to perform as new parts. Moreover, such parts must be labeled as 'rebuilt' so that they are not mistakenly accepted as new.

𝗧𝗼 𝗞𝗻𝗼𝘄 𝘁𝗵𝗲 𝗟𝗮𝘁𝗲𝘀𝘁 𝗧𝗿𝗲𝗻𝗱𝘀 𝗮𝗻𝗱 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗣𝗿𝗲𝘃𝗮𝗹𝗲𝗻𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗣𝗿𝗲𝘀𝘀 𝗥𝗲𝗹𝗲𝗮𝘀𝗲 @
https://www.coherentmarketinsights.com/insight/request-pdf/3311

Growth of the Europe automotive parts remanufacturing market can be attributed to stringent government regulations or policies regarding waste management. For example, the 2008/98/EC directive of the European Council and Parliament on waste established legal framework for the treatment of waste in Europe. This directive is designed to protect the environment and human health by preventing or reducing the adverse impacts of the generation and management of waste and by reducing overall impacts of resource use and improving the efficiency of such use. Moreover, the Europe automotive parts remanufacturing market growth is driven by the End-of-Life Vehicles legislation.

𝐓𝐡𝐞 𝐄𝐮𝐫𝐨𝐩𝐞 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐩𝐚𝐫𝐭𝐬 𝐫𝐞𝐦𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐞𝐱𝐡𝐢𝐛𝐢𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕.𝟒% 𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝 (𝟐𝟎𝟏𝟗-𝟐𝟎𝟐𝟕).

Remanufactured parts of high quality are expected to witness significant demand across Europe and is expected to offer lucrative growth opportunities for market players in the near future. This is owing to increasing vehicle age and stringent regulatory legislation. Increasing demand from consumers for different product types is expected to offer growth opportunity and undergo high growth of OEM market over the forecast period. Keeping this in mind, many OEMs and suppliers have made strategic plans to expanding their remanufacturing market footprint over the region.

Remanufacturing also helps conserve valuable raw materials, such as copper, aluminum, and steel. The European Union has adopted ambitious new targets to curb climate change, with a pledge to make them legally binding. Under a new law agreed between member states and the EU Parliament, the bloc planned to cut carbon emissions by at least 55% by 2030, compared with 1990 levels. This in turn is also expected to augment the growth of the Europe automotive parts remanufacturing market. However, the major factors restraining the growth of the market are the lack of skilled workers and technical know-how about third-party products.

𝗞𝗲𝘆 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀:-

➡ Key companies in the market are focused on mergers and acquisitions, in order to gain competitive edge in the market.

➡ For instance, in March 2017, Schouw & Co., a Denmark-based conglomerate, acquired Borg Automotive and invested in the remanufacturing of auto parts.

➡ In January 2018, ZF Friedrichshafen AG received "Best Brands Award", sponsored by Auto Services Praxis AUTOHAUS.

𝗪𝗮𝗻𝘁 𝘁𝗼 𝗟𝗲𝗮𝗿𝗻 𝗠𝗼𝗿𝗲 𝗔𝗯𝗼𝘂𝘁 𝘁𝗵𝗶𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝗚𝗿𝗼𝘄𝘁𝗵? 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗡𝗼𝘄 @
https://www.coherentmarketinsights.com/insight/request-sample/3311

𝗞𝗲𝘆 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀: 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.

𝗗𝗲𝘁𝗮𝗶𝗹𝗲𝗱 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻:-

Europe Automotive Parts Remanufacturing, By Vehicle Type
⁃ Passenger Car
⁃ LCV
⁃ HCV
⁃ All-Terrain Vehicles
⁃ Off-Highway Vehicles

Europe Automotive Parts Remanufacturing, By Components
⁃ Engine & Related parts
⁃ Turbochargers
⁃ EGR Valves
⁃ Carburetors
⁃ Transmission & Related Parts
⁃ Clutches
⁃ Bearings
⁃ Electricals & Electronics
⁃ Starters
⁃ Alternators
⁃ Others
⁃ Wheel and brakes related Parts
⁃ Hub Assemblies
⁃ Master Cylinders
⁃ Brake Calipers
⁃ Bearings
⁃ A/C Compressors
⁃ Steering
⁃ Fuel Systems
⁃ Others

𝗣𝘂𝗿𝗰𝗵𝗮𝘀𝗲 𝘁𝗵𝗶𝘀 𝗣𝗿𝗲𝗺𝗶𝘂𝗺 𝗥𝗲𝗽𝗼𝗿𝘁 𝗧𝗼 𝗔𝗰𝗰𝗲𝘀𝘀 𝗙𝘂𝗹𝗹 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 (𝗙𝗹𝗮𝘁 𝗨𝗦𝗗 𝟮𝟬𝟬𝟬 𝗢𝗙𝗙) @
https://www.coherentmarketinsights.com/promo/buynow/3311

𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗖𝗼𝘃𝗲𝗿𝗮𝗴𝗲:-

➼ The report studies the Europe Automotive Parts Remanufacturing market based on product, end-user, and region
➼ The report analyses factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth
➼ The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders
➼ The report studies micro-markets with respect to their growth trends, prospects, and contributions to the total Europe Automotive Parts Remanufacturing market
➼ The report forecasts the revenue of market segments with respect to five major regions

𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗨𝘀:-
Mr Shah
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𝗔𝗯𝗼𝘂𝘁 𝘂𝘀:-
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