Remanufactured Parts Market Value to Hit US$ 91 Bn by the end of 2026

Remanufactured Parts Market 2022

The global Remanufactured Parts 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. 

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'.

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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

Remanufactured Parts 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. 

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Remanufactured Parts 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

Remanufactured Parts Market: Regional Overview

North America is estimated to hold major market share in the Global automotive parts remanufacturing market owing to the presence of a large number of aged automobile vehicles and a large automotive fleet. Europe is projected to follow North America in terms of market share as the region is an automotive manufacturing hub as well as due to high volume sales of passenger vehicles. The region is also estimated to create highest incremental $ opportunity in the global automotive parts remanufacturing market. In terms of growth rate, China is estimated to lead the automotive parts remanufacturing market. The automotive parts remanufacturing market has been projected to register a CAGR of 13.3% over the projection period, in China.

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Key Questions Answered in this Remanufactured Parts Market Report -

• How is the Remanufactured Parts market expected to grow over the projected period?
• What are the key factors driving the Remanufactured Parts market?
• What direction is the Remanufactured Parts market expected to take in terms of volume and value during the forecast period? What are the predominant trends in the Remanufactured Parts market?
• What are the major macro-economic factors impacting the growth of the Remanufactured Parts market?
• What are the key opportunities in the Remanufactured Parts market for manufacturers?
• What are the factors hampering the growth of the Remanufactured Parts market?

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