Press release
Europe Automotive Parts Remanufacturing Market to Reach US$ 44 billion at a CAGR of over 7% end of 2031
Europe Automotive Parts Remanufacturing Market 2022
Over $22.6 billion is presently estimated to be invested on the remanufacturing of automotive parts in Europe. By 2031, it is anticipated that revenue from the remanufacturing of automobile parts will reach over US$ 44 billion, growing at a CAGR of over 7%. Demand for HCVs and LCVs will be fueled by expanding use of passenger cars for recreational activities, growing knowledge of remanufactured parts, and development in trade economics. These factors will support market growth.
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Government regulatory activities may result in environmental pricing as they try to steadily increase resource productivity. A legal foundation for waste management in European nations, for instance, was provided by the Waste Directive 2008/98/EC of the European Council and the European Parliament. Furthermore, it introduced important terms, notions, and concepts as the polluter-pays principle and the hierarchy of waste. Stronger environmental product restrictions and novel taxation schemes for ecosystem services and resources are anticipated as part of Europe's forthcoming remedies.
Company Profiles-
• Borg Automotive A/S.
• Caterpillar Inc.
• ZF Friedrichshafen AG
• Carwood Group
• Meritor, Inc.
• Valeo SA
• Robert Bosch GmbH
• Monark Automotive GmbH
• Budweg Caliper A/S
• ATC Drivetrain
• RECRO Ltd.
• FZT Unna GmbH
• E. & U. Hetzel GmbH
• Autrans Transmissions Parts & Service B.V.
• Scandinavian Transmission Service AB
• VEGE Group
These factors are set to drive the industry for automotive parts remanufacturing in the European continent. Besides, market players are frequently involved in collaborations, mergers, and acquisitions so as to increase their footprint and market share.
In May 2021, Meritor, Inc. collaborated with Hexagon Purus, a global leader in zero-emission e-mobility. These companies will work together to integrate Meritor's Blue Horizon™ 14Xe™ integrated ePowertrain into Hexagon Purus' contracted projects, which include Class 6 & Class 7 trucks and Class 8 (6×4) vehicles. Production is scheduled to begin in 2021.
In February 2020, PE Automotive GmbH & Co. KG took over the trading business of Monark Automotive GmbH as well as the Monark brand.
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Key Questions Answered in the Europe Automotive Parts Remanufacturing Market Report
• How is the Europe Automotive Parts Remanufacturing market expected to grow over the projected period?
• What direction is the Europe Automotive Parts Remanufacturing market expected to take in terms of volume and value during the forecast period?
• What is the impact of macroeconomic factors on the Europe Automotive Parts Remanufacturing market in future?
• What are the key market drivers in the Europe Automotive Parts Remanufacturing market?
• What are significant opportunities and improvement areas for Europe Automotive Parts Remanufacturing manufacturers?
• What are the key developments and trends taking over the Europe Automotive Parts Remanufacturing market?
• Which are the emerging countries that are expected to create significant growth opportunities in the Europe Automotive Parts Remanufacturing market?
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
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Key Stakeholders
Europe Automotive Parts Remanufacturing Market Manufacturers
Europe Automotive Parts Remanufacturing Market Distributors/Traders/Wholesalers
Europe Automotive Parts Remanufacturing Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Bicycle And Components Market - https://www.persistencemarketresearch.com/market-research/bicycle-and-components-market.asp
Automotive Parts Aftermarket - https://www.persistencemarketresearch.com/market-research/automotive-parts-aftermarket.asp
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