Dublin, Feb. 20, 2025 (GLOBE NEWSWIRE) -- The "Automotive Parts Remanufacturing - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Automotive Parts Remanufacturing was valued at US$58.3 Billion in 2024 and is projected to reach US$79.4 Billion by 2030, growing at a CAGR of 5.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the automotive parts remanufacturing market is driven by several factors. One of the primary drivers is the increasing demand for cost-effective and environmentally friendly alternatives to new parts, particularly in the context of rising automotive repair and maintenance costs. The global focus on sustainability and resource conservation has also boosted the popularity of remanufactured parts, as they reduce the need for raw material extraction and manufacturing energy consumption. The expansion of the automotive aftermarket, driven by the increasing average age of vehicles on the road, has further fueled the demand for remanufactured components.
Additionally, advancements in remanufacturing technologies have improved the quality and reliability of remanufactured parts, making them a viable option for a wider range of applications. The growing emphasis on circular economy practices within the automotive industry, along with supportive regulations and incentives, has also played a crucial role in promoting the adoption of remanufactured parts. These factors collectively highlight the dynamic growth and evolving importance of the automotive parts remanufacturing market, reflecting its critical role in promoting sustainability and cost efficiency within the automotive sector.
Scope of the Study
The report analyzes the Automotive Parts Remanufacturing market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.
Segments
Component (Electrical & Electronics, Engine & Related Parts, Wheels & Brakes, Transmission, Fuel Systems, Steering Parts, Other Components); End-Use (Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Off Road Vehicles, All-Terrain Vehicles).
Geographic Regions/Countries
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Electrical & Electronics Component segment, which is expected to reach US$27.1 Billion by 2030 with a CAGR of a 6.1%. The Engine & Related Parts Component segment is also set to grow at 5.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $22.4 Billion in 2024, and China, forecasted to grow at an impressive 7% CAGR to reach $7.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Andre Niermann, BORG Automotive A/S, Cardone Industries, Inc., Caterpillar, Inc., Denso Corporation and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Automotive Parts Remanufacturing Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 118 major companies featured in this Automotive Parts Remanufacturing market report include:
- Andre Niermann
- BORG Automotive A/S
- Cardone Industries, Inc.
- Caterpillar, Inc.
- Denso Corporation
- Detroit Diesel Remanufacturing LLC
- Genuine Parts Company
- Marshall Engines Inc.
- Motorcar Parts of America, Inc.
- Remy Power Products, LLC
- Robert Bosch GmbH
- Standard Motor Products Inc.
- Teamec BVBA
- ZF Friedrichshafen AG
Key Attributes
| Report Attribute | Details |
| No. of Pages | 438 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $58.3 Billion |
| Forecasted Market Value (USD) by 2030 | $79.4 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Supply Chain Disruptions Force OEMs to Take a Closer Look at Remanufacturing
- Strong Outlook for Automotive Aftermarket to Benefit Demand for Remanufactured Parts
- Robust Aftermarket Expands the Addressable Market Opportunity for Remanufactured Replacement Parts: Global Opportunity for Automotive Aftermarket (In US$ Billion) for Years 2023, 2025 and 2027
- Aging Vehicle Fleet Drives Opportunities for Remanufactured Parts in the Aftermarket
- With Several Governments Imposing 15 Years as the Retirement Age for Vehicles, the Growing Age of Vehicles is Poised to Benefit Demand for Remanufactured Replacements Parts: Average Age of Cars & Light Trucks in the United States (In Years) for the Years 1980, 1990, 2000, 2015, 2020 and 2023
- Scrappage Policies Are Vital to Ensure Steady Stream of Raw Materials for Parts Remanufacturing
- Stringent Regulations & Developed Scrap Recovery Infrastructure Makes Europe the Largest Region With the Highest Vehicle Parts Reuse, Recovery & Recycling Rate: % Breakdown of Recovery & Recycling Rate of End-of-Life Vehicles in Select Countries in Europe as of the Year 2023
- A Steady Stream of End-Of-Life Vehicles Remains Crucial for Uninterrupted Remanufacturing Activity: End-of-Life Vehicles in the Europe Union (In 000 Units) for the Years 2010, 2015, 2018, 2020 & 2023
- Myriad Trends Shape Demand Patterns in Component Sub-Markets
- Review of Major Challenges to Growth & the Way Forward
For more information about this report visit https://www.researchandmarkets.com/r/igef8k
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