Press release
Automotive Circular Economy Market Transforming Automotive Value Chains Through Closed Loop Models and Circular Innovation
Automotive Circular Economy Market
According to the latest research by InsightAce Analytic, the Automotive Circular Economy Market is valued at USD 148.2 Bn in 2024, and it is expected to reach USD 398.3 Bn by the year 2034 , with a CAGR of 10.7% during the forecast period of 2025-2034.
Get Free Access to Demo Report, Excel Pivot and ToC: https://www.insightaceanalytic.com/request-sample/2997
The automotive circular economy refers to a sustainable model in which materials and resources used in the automotive industry are kept in use for as long as possible through strategies like reuse, remanufacturing, recycling, and life cycle extension-reducing waste, emissions, and resource consumption. Examples of circular economy strategies that reduce production costs and raw material consumption include reusing electronic systems, engines, and transmissions. This helps to reduce the sector's carbon footprint.
The growing need for environmental sustainability and waste reduction in the automotive supply chain has propelled the automotive circular economy market to become a crucial sector of the automotive industry. Furthermore, the adoption of an automobile circular economy promotes innovation in the sector, boosts competitiveness, and creates a robust and accountable automotive ecosystem by ensuring economic efficiency and regulatory compliance. The market is primarily driven by environmental rules that require waste reduction, company emission reduction targets, consumer desire for sustainable materials, and reduced product costs through circular economy methods.
List of Prominent Players in the Automotive Circular Economy Market:
• Umicore
• ZF Friedrichshafen AG
• LKQ Corporation
• BorgWarner Inc.
• Valeo
• Sims Metal (Sims Limited)
• Copart Inc.
• IAA Holdings, LLC.
• RB Global
• BMW Group
• TOYOTA MOTOR CORPORATION
• Renault Group
• Aptiv.
• Redwood Materials Inc.
• Marelli Holdings Co., Ltd.
• Bosch GmbH
Expert Knowledge, Just a Click Away: https://calendly.com/insightaceanalytic/30min?month=2025-04
Market Dynamics:
Drivers-
The automotive circular economy possesses significant potential because of the increasing existence of electric vehicles (EVs), especially regarding battery reutilization. Electric vehicle batteries can be used for secondary, less demanding applications like stationary energy storage because they usually have a significant amount of residual capacity (about 70-80%) after their automotive lifespan. Utilizing second-life battery solutions addresses battery waste-related environmental issues, preserves priceless raw materials, and offers affordable energy storage choices. Furthermore, the anticipated exponential expansion in EV adoption worldwide is driving significant future potential for battery reuse. There will likely be a significant increase in the number of batteries that are nearing the end of their vehicle life by 2030, opening up a wide range of energy storage business prospects for grid-scale, industrial, and residential applications.
Challenges:
The automotive industry has major obstacles to the successful implementation of circular economy techniques, including intricate supply networks and infrastructure issues. Complex supply networks that span several locations, a wide range of stakeholders, and substantial logistical operations are characteristics of the global automobile industry. The recovery, recycling, and traceability of vehicle components are frequently made more difficult by this complexity, especially when such components incorporate modern technologies like batteries or hazardous compounds. Furthermore, insufficient infrastructure for recycling and remanufacturing, particularly in developing nations, restricts the industry's ability to effectively handle end-of-life automobiles and parts, impeding the full potential of circular economy projects.
Regional Trends:
The North American Automotive Circular Economy market is anticipated to report a major market revenue propelled by its investments in technological innovations, sustainable manufacturing, and strong regulatory frameworks. The US and Canada are setting the standard for vehicle recycling, remanufacturing, and the use of recycled parts as a result of significant industry players advocating for the adoption of circular processes in the production of automobiles. Besides, over the projection period, Europe is expected to increase at the fastest rate, supported by nations with strong automobile industries and growing consciousness of sustainability issues, like the United Kingdom, Germany, Italy, and France. LKQ Corporation, BorgWarner, ZF Friedrichshafen AG, and Umicore are some of the top businesses in this sector. To keep their competitive advantage in the market, these businesses are concentrating on developing new products, forming strategic alliances, and expanding geographically.
Unlock Your GTM Strategy: https://www.insightaceanalytic.com/customisation/2997
Recent Development:
• February 2024: Madayn and Copart, Inc. Middle East established a strategic alliance in Oman to tackle the problem of abandoned cars in industrial areas. By locating and retrieving abandoned cars for auction and guaranteeing their appropriate disposal and reuse to promote environmental sustainability.
• August 2023: Uni-Select acquired by LKQ Corporation. This transaction increased the footprint of LKQ Corporation in the automobile aftermarket sector. This acquisition improved LKQ Corporation's standing in the automotive circular economy, particularly in North America and the United Kingdom, by expanding its network.
Segmentation of Automotive Circular Economy Market-
By Vehicle Type-
• Passenger Vehicles
• Commercial Vehicles
• Light Commercial Vehicles
o Trucks
o Buses
By Propulsion Type-
• Internal Combustion Engine Vehicles
• Electric Vehicles
o Hybrid Electric Vehicles
o Plug-In Hybrid Electric Vehicles
o Battery Electric Vehicles
By Process Type -
• Recycled Products
• Remanufactured Products
• Refurbished Products
• Reused Products
By Component Type-
• Battery
• Tire
• Polymers
• Body Parts
• Brakes and Suspensions
• Others
By End-User-
• Original Equipment Manufacturers (OEMs)
• Automotive Aftermarket
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/automotive-circular-economy-market/2997
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Circular Economy Market Transforming Automotive Value Chains Through Closed Loop Models and Circular Innovation here
News-ID: 4059447 • Views: …
More Releases from Insightace Analytic Pvt Ltd.
Upcycled Ingredients in Beverage Market Projected to Grow at a CAGR of 7.4 Perce …
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Upcycled Ingredients in Beverage Market Size, Share & Trends Analysis Report By Type (Spent Grains, Fruit Byproducts, Whey and Dairy Byproducts, Vegetable Byproducts, Other Byproducts), Beverage Type (Non-Alcoholic Beverages, Alcoholic Beverages), Distribution Channel (Supermarkets/Hypermarkets, Online Retail, Specialty Stores, Foodservice), End-User (Household Consumers, Commercial Users, Institutional Users)- Market Outlook And Industry Analysis 2034"
Upcycled Ingredients in Beverage…
Novel Drug Delivery Systems in Cancer Therapy Market Study Analysis with Forecas …
InsightAce Analytic Pvt. Ltd. has announced the publication of a market research report titled "Global Novel Drug Delivery Systems in Cancer Therapy Market (by Product (Nanoparticles (Liposomes, Polymer, Micelles, Other Nanoparticles) And Embolization Particles (PVA Particles, Drug-Eluting Beads, Liquid Emboli, And Other Embolization Particles)))- Market Outlook and Industry Analysis 2031"
The global novel drug delivery systems cancer therapy market is estimated to reach over USD 63.25 billion by 2031, exhibiting a…
Sustainability Certification Market Forecast to 2034 Shows USD 5.9 Billion Valua …
The global Sustainability Certification market is estimated to reach over USD 5.9 Bn by the year 2034, exhibiting a CAGR of 7.5% during the forecast period.
Get Free Access to Demo Report, Excel Pivot and ToC: https://www.insightaceanalytic.com/request-sample/2998
The process of evaluating and verifying that goods, services, or organizations fulfill particular environmental, social, and economic requirements established by impartial certifying agencies is known as sustainability certification. The purpose of these certifications is…
Tax Tech Market Forecast 2025-2034 Indicates CAGR of 13.4% with Growth Accelerat …
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Tax Tech Market- (By Offering (Solutions (Tax Compliance & Reporting (Corporate tax compliance (direct & indirect taxes), Sales and use tax automation, VAT/GST compliance, E-filing and tax return preparation), Tax Analytics & AI-Driven Solutions (Predictive analytics for tax planning, AI-powered tax audits and risk assessment, Tax data visualization and decision support), Tax Workflow & Document…
More Releases for Vehicle
Connected Car Devices Industry Forecast to 2028 Global Market Analysis by Commun …
Connected car devices assist in monitoring vehicles and drivers. These devices update owners and fleet managers about the emissions, vehicle performance, vehicle maintenance, on-board diagnostics (OBD), pertaining to fuel economy index, etc. Also, it provides GPS tracking and real-time alerts. Increasing concerns and awareness regarding safety and high demand for advanced system and safety features in vehicles are driving the growth of the connected car devices market.
Sample PDF showcases the…
Steering Tie Rod Market Vehicle (Passenger car, Commercial vehicle, and Heavy-du …
A steering tie rod is an integral part of the steering mechanism in an automobile as it is a lean structural bar or rod which is used as a tie and it is capable of carrying only ductile loads. The rod tends to transmit a force from the rack gear to the steering knuckle, which enables the wheel to turn while the vehicle is moving. This tie rod comprises two…
Offshore AUV & ROV Market by ROV, High Capacity Electric Vehicle, Small Vehicle, …
This study report Global Offshore AUV & ROV Market, the analyst provides growth estimates, forecasts, and an in-depth analysis of all key factors at play in the Market. The report takes into account the micro and macro factors that are likely to impact the growth trajectory of the Market. The study further presents details on the investments initiated by several organizations, institutions, government, and non-government bodies.
The report investigates and analyzes…
Automotive ABS and ESC Market Report 2018: Segmentation by Product (Three Channe …
Global Automotive ABS and ESC market research report provides company profile for Robert Bosch, TRW, Machino, Haldex, Aisin Seiki, Hitachi, Autoliv, Contenental, Delphi, Denso and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The…
Vehicle to Vehicle (V2V)/Vehicle to Infrastructure (V2I) Market expected to grow …
The V2V/V2I market has penetration into different technologies such as smart sensors, big data analytics and cloud computing. The smart sensors manage and control traffic on the roads by offering the drivers and passengers a plethora of advanced transport services aimed at improving driving efficiency and safety. Big data analytics aids the companies in understanding the user requirements and expectations thus bringing about relevant changes in the automotive developments. Vehicular…
Wheelchair Accessible Vehicle Market : by Vehicle Type - Large Size Vehicle, Med …
Researchmoz added Most up-to-date research on "2017 Global Wheelchair accessible vehicles Industry Report" to its huge collection of research reports.
This report is an essential reference for those who look for detailed information on global Wheelchair accessible vehicles market. The report covers data on national, regional, and global markets including historical and future trends for supply, demand, prices, trading, competition as well as global major vendors' information.
In addition…
