Press release
Accelerating Growth of Automotive Circular Economy Market
This comprehensive 210-page report on the Automotive Circular Economy Market (2024–2034) features 145 data tables and 48 figures, offering in-depth analysis across applications, product types, and regions. North America is projected to lead the market, fu
According to BIS Research, the Global Automotive Circular Economy Market [https://bisresearch.com/industry-report/automotive-circular-economy-market.html?utm_source=Adya+&utm_medium=Organic+&utm_campaign=Adya_Blog+]was valued at $153.63 billion in 2024 and is projected to grow at a CAGR of 11.48%, reaching $455.33 billion by 2034.
What is the Automotive Circular Economy Market?
The automotive circular economy represents a fundamental shift in how vehicles are designed, produced, used, and repurposed. Moving away from the traditional linear model of "take-make-dispose," the circular economy emphasizes resource efficiency, product longevity, and waste reduction through closed-loop systems.
The automotive circular economy market focuses on the adoption of sustainable practices aimed at reducing waste, maximizing resource efficiency, and extending the life cycle of automotive products.
Key Components Of Automotive Circular Economy Includes
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Eco Design and Modularity
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Component Reuse and Manufacturing
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Recycling and Material Recovery
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New Ownership and Mobility Models
How is the Automotive Circular Economy Market Segmented?
Several key categories are as follows
1 By Vehicle Type
* Passenger Vehicles to Lead the Market
Passenger vehicles are expected to dominate the automotive circular economy market, driven by the growing demand for sustainable mobility solutions and regulatory pressures for reduced emissions. Due to their high production volumes and longer life cycles, passenger vehicles present significant opportunities for resource recovery and waste reduction.
2 By Propulsion Type
*
Internal Combustion Engine Vehicles to Lead the Market
Internal combustion engine (ICE) vehicles are expected to dominate the automotive circular economy market, driven by the large existing fleet and ongoing efforts to improve sustainability in their lifecycle. While the transition to electric vehicles (EVs) is gaining momentum, ICE vehicles continue to make up most of the global vehicle production and sales.
3 By End User Type
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Original Equipment Manufacturers (OEMs) to Lead the Market
Original equipment manufacturers (OEMs) are expected to dominate the automotive circular economy market, driven by the increasing need for sustainable vehicle production and component sourcing. As the automotive industry focuses on reducing its environmental footprint, OEMs are incorporating circular economy practices such as remanufacturing, recycling, and refurbishing in their production processes.
4 By Region
North America to lead the market
North America is expected to lead the automotive circular economy market, driven by its strong regulatory frameworks, technological innovations, and investments in sustainable manufacturing
5 By Process
*
Recycled products to lead the market
Recycled products are expected to dominate the automotive circular economy market, driven by the increasing emphasis on reducing waste, conserving resources, and lowering environmental impacts. As the automotive industry shifts toward sustainability, recycling materials such as metals, plastics, and batteries have become a key process in minimizing resource consumption and reducing the carbon footprint.
6 By Component
Others to Lead the Market
The other category is expected to dominate the automotive circular economy market, driven by the increasing focus on circularity across various non-body automotive components.
Request a Detailed Sample [https://bit.ly/4k5HWQU] on the Automotive Circular Economy Market!
Market Growth Key Growth Drivers:
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Environmental Regulations and Policies
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Resource Scarcity and raw material costs
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Consumer demand for sustainability
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Rise of electric vehicles
Get Detailed Insights on Automotive Mobility Market [https://bisresearch.com/industry-verticals/automotive?utm_source=Adya+&utm_medium=Organic+&utm_campaign=Adya_Blog+]
Key Players
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Umicore
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Sims Metal (Sims Limited)
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ZF Friedrichshafen AG
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BorgWarner
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LKQ Corporation
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Valeo
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Copart Inc.
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IAA Holdings, LLC.
Looking Ahead: Automotive Circular Economy Market
The automotive circular economy is poised for robust growth as sustainability becomes central to the future of mobility. Looking ahead, the market will be shaped by rising electric vehicle adoption, stronger regulatory frameworks, and growing investment in recycling and remanufacturing technologies.
About BIS Research
BIS Research is a global market intelligence firm delivering insights on emerging technologies and high-growth industries. We help businesses stay ahead with in-depth reports, custom research [https://bisresearch.com/our-offerings/custom-research], and go-to-market strategies [https://info.bisresearch.com/market-entry-strategy?__hstc=81227140.84bd33dd6fc5071d491f8225c1b0c818.1744954477674.1750055578047.1750061547365.100&__hssc=81227140.3.1750061547365&__hsfp=1412063329] tailored to your goals.
Explore our Custom Research and Go-To-Market Strategy services.
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