Executive Summary
The Global Automotive Parts Remanufacturing market was valued at USD 54710.12 Million in 2021 and is expected to grow at a CAGR of 7.43% during the forecast period of 2023-2028. The shortage of raw materials is driving the growth of the automotive parts remanufacturing market as remanufactured parts are extracted from older vehicles and renovated. This factor eliminates the need to exact materials from mines and ores. Remanufactured parts cost nearly 50-75% as much as the original product while providing the same quality.
Further, strict government regulations towards waste management is resulting in a decline in the manufacturing of new automotive parts and the rising awareness among consumers for eco-friendly products is boosting the demand for the remanufactured parts market globally.
End customers have various options for automotive parts remanufacturing in the market. Predictive maintenance, also referred to as condition-based maintenance, is a technique adopted by companies to continuously monitor real working conditions to ensure asset optimization of the installed parts in the vehicles. Engine and related parts and electronics and electrical equipment are the most popular products used in the industry, which are utilized not only in passenger vehicles but also in LCVs and HCVs.
Further, the widespread use of remanufactured parts in passenger vehicles is expected to remain the most potential category by present vehicle types. Hence the companies are focusing on this segment. Overall, the Automotive Part Remanufacturing market is fragmented and China, India and United States are estimated to be the largest contributor to the global market owing to increasing vehicle parts remanufacturing facilities as well as sales.
Scope of the Report
- The report analyses the Automotive Parts Remanufacturing Market by Value (USD Million).
- The report analyses the Automotive Parts Remanufacturing Market by Volume (Million Units).
- The report presents the analysis of the Automotive Parts Remanufacturing market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028.
- The report analyses the Automotive Parts Remanufacturing Market by Component (Engine & Related Parts, Transmission & Others, Electrical & Electronics, Wheels & Brakes, Fuel Systems, Other Components).
- The report analyses the Automotive Parts Remanufacturing Market By Vehicle (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, Off-Road Vehicles, All-Terrain Vehicles)
- The Global Automotive Parts Remanufacturing Market has been analyzed by countries (United States, Canada, Mexico, Germany, UK, Russia, China, Japan, India, South Korea).
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by component, by vehicle.
- Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include ZF Friedrichshafen, BBB Industries, Meritor Inc., Budweg, Monark Automotive, Cardone Industries, Robert Bosch, Caterpillar Inc., Volvo Group, Carwood.
Key Target Audience
- Automotive Manufacturers
- Consulting and Advisory Firms
- Research and Development Organizations
- Government and Regulatory Authorities
Table of Contents
1. Introduction: Automotive Parts Remanufacturing Market
- 1.1 Overview
- 1.2 Scope of Research
2. Executive Summary
- 2.1 Market Dashboard
- 2.2 Regional Insights
- 2.3 Market Ecosystem Factors
3. Research Methodology
- 3.1 Data Collection Process
- 3.2 Market Trajectory Estimation
- 3.3 Market Size Calculation
4. Automotive Parts Remanufacturing Market Dynamics
- 4.1 Drivers
- 4.2 Restraints
- 4.3 Opportunities
- 4.4 Trends
- 4.5 Impact assessment of Market Dynamics
5. Value Chain
- 5.1 Component Suppliers
- 5.2 Remanufacturers
- 5.3 Distributors/Retailers
- 5.4 Spare Part Suppliers
6. Covid-19 Impact Assessment
- 6.1 Assessment of Degree of Impact of Covid-19 on Global Automotive Parts Remanufacturing Market
- 6.2 Region-Wise Quarterly Covid Impact Analysis
7. Porter's Five Forces Analysis
8. Macro Economic Indicator Outlook
- 8.1 Manufacturing Sector
- 8.2 Global Vehicle Sales
- 8.3 Investments in Different Sectors
- 8.4 Gross National Income, PPP
- 8.5 Urbanization
9. Automotive Parts Remanufacturing Market: Average Selling Price Analysis
- 9.1 Average Selling Price, By Region
- 9.2 Average Selling Price, By Component
10. Competitive Positioning
- 10.1 Companies' Product Positioning
- 10.2 Market Position Matrix
- 10.3 Market Share Analysis
- 10.3.1 ZF Friedrichshafen
- 10.3.2 BBB Industries
- 10.3.3 Meritor Inc.
- 10.3.4 Budweg
- 10.3.5 Monark Automotive
- 10.3.6 Cardone Industries
- 10.3.7 Robert Bosch
- 10.3.8 Caterpillar Inc.
- 10.3.9 Volvo Group
- 10.3.10 Carwood
11. Volumetric Analysis, Units, 2018-2028
- 11.1 Global Automotive Parts Remanufacturing Market, By Volume
- 11.1.1 Global Automotive Parts Remanufacturing Market, 2018-2028 (Units)
- 11.1.2 Global Automotive Parts Remanufacturing Market, By Components, 2018-2028 (Units)
- 11.1.3 Global Automotive Parts Remanufacturing Market, By Components, 2018-2021, 2023-2028 CAGR (%)
- 11.2 Americas Automotive Parts Remanufacturing Market, By Volume
- 11.2.1 Americas Automotive Parts Remanufacturing Market, 2018-2028 (Units)
- 11.2.2 Americas Automotive Parts Remanufacturing Market, By Components, 2018-2028 (Units)
- 11.2.3 Americas Automotive Parts Remanufacturing Market, By Components, 2018-2021, 2023-2028 CAGR (%)
- 11.3 Europe Automotive Parts Remanufacturing Market, By Volume
- 11.3.1 Europe Automotive Parts Remanufacturing Market, 2018-2028 (Units)
- 11.3.2 Europe Automotive Parts Remanufacturing Market, By Components, 2018-2028 (Units)
- 11.3.3 Europe Automotive Parts Remanufacturing Market, By Components, 2018-2021, 2023-2028 CAGR (%)
- 11.4 Asia Pacific Automotive Parts Remanufacturing Market, By Volume
- 11.4.1 Asia Pacific Automotive Parts Remanufacturing Market, 2018-2028 (Units)
- 11.4.2 Asia Pacific Automotive Parts Remanufacturing Market, By Components, 2018-2028 (Units)
- 11.4.3 Asia Pacific Automotive Parts Remanufacturing Market, By Components, 2018-2021, 2023-2028 CAGR (%)
- 11.5 Middle East & Africa Automotive Parts Remanufacturing Market, By Volume
- 11.5.1 Middle East & Africa Automotive Parts Remanufacturing Market, 2018-2028 (Units)
- 11.5.2 Middle East & Africa Automotive Parts Remanufacturing Market, By Components, 2018-2028 (Units)
- 11.5.3 Middle East & Africa Automotive Parts Remanufacturing Market, By Components, 2018-2021, 2023-2028 CAGR (%)
12. Global Automotive Parts Remanufacturing Market Trends and Forecast Analysis, 2018-2028, USD MILLION & CAGR
- 12.1 Macro Economic Factor Impact Index
- 12.2 Automotive Parts Remanufacturing Market: Dashboard
- 12.3 Automotive Parts Remanufacturing Market Size, By Value, 2018-2021(USD Million)
- 12.4 Automotive Parts Remanufacturing Market Size, By Value, 2022-2028 (USD Million)
- 12.5 Automotive Parts Remanufacturing Market: Summary
13. Global Automotive Parts Remanufacturing Market Trend And Forecast Analysis, 2018-2028, By Component
- 13.1 Automotive Parts Remanufacturing Market Trend And Forecast Analysis, By Component: Snapshot
- 13.2 Engine & Related Parts
- 13.3 Transmission & Others
- 13.4 Electrical & Electronics
- 13.5 Wheels & Brakes
- 13.6 Fuel Systems
- 13.7 Other Components
14. Global Automotive Parts Remanufacturing Market Trend And Forecast Analysis, 2018-2028, By By Vehicle
- 14.1 Automotive Parts Remanufacturing Market Trend And Forecast Analysis, By Vehicle: Snapshot
- 14.2 Passenger Vehicles
- 14.3 Light Commercial Vehicles
- 14.4 Heavy Commercial Vehicles
- 14.5 Off-Road Vehicles
- 14.6 All-Terrain Vehicles
15. Global Automotive Parts Remanufacturing Market Trend And Forecast Analysis, 2018-2028, By Region
- 15.1 Regional Coverage of the Study
16. Americas Automotive Parts Remanufacturing Market Trends and Forecast Analysis, 2018-2028, USD MILLION & CAGR
- 16.1 Macro Economic Factor Impact Index
- 16.2 Impact analysis of market dynamics on Automotive Parts Remanufacturing Market
- 16.3 Americas Automotive Parts Remanufacturing Market: Dashboard
- 16.4 Americas Automotive Parts Remanufacturing Market Size, By Value, 2018-2021(USD Million)
- 16.5 Americas Automotive Parts Remanufacturing Market Size, By Value, 2022-2028 (USD Million)
17 Americas Automotive Parts Remanufacturing Market, By Component
- 17.1 Americas Automotive Parts Remanufacturing Market: Component Overview
- 17.2 Americas Automotive Parts Remanufacturing Market: Component, By Engine & Related Parts
- 17.3 Americas Automotive Parts Remanufacturing Market: Component, By Transmission & Others
- 17.4 Americas Automotive Parts Remanufacturing Market: Component, By Electrical and Electronics
- 17.5 Americas Automotive Parts Remanufacturing Market: Component, By Wheels & Brakes
- 17.6 Americas Automotive Parts Remanufacturing Market: Component, By Fuel Systems
- 17.7 Americas Automotive Parts Remanufacturing Market: Component, By Other Components
18. Americas Automotive Parts Remanufacturing Market, By Vehicle
- 18.1 Americas Automotive Parts Remanufacturing Market: Vehicle Overview
- 18.2 Americas Automotive Parts Remanufacturing Market: Vehicle, By Passenger Vehicles
- 18.3 Americas Automotive Parts Remanufacturing Market: Vehicle, By Light Commercial Vehicles
- 18.4 Americas Automotive Parts Remanufacturing Market: Vehicle, By Heavy Commercial Vehicles
- 18.5 Americas Automotive Parts Remanufacturing Market: Vehicle, By Off-Road Vehicles
- 18.6 Americas Automotive Parts Remanufacturing Market: Vehicle, By All-Terrain Vehicles
19. Americas Automotive Parts Remanufacturing Market, By Country
- 19.1 United States
- 19.2 Canada
- 19.3 Mexico
- 19.4 Rest of Americas
20. Europe Automotive Parts Remanufacturing Market Trends and Forecast Analysis, 2018-2028, USD MILLION & CAGR
- 20.1 Macro Economic Factor Impact Index
- 20.2 Impact analysis of market dynamics on the Automotive Parts Remanufacturing Market
- 20.3 Europe Automotive Parts Remanufacturing Market: Dashboard
- 20.4 Europe Automotive Parts Remanufacturing Market Size, By Value, 2018-2021(USD Million)
- 20.5 Europe Automotive Parts Remanufacturing Market Size, By Value, 2022-2028 (USD Million)
21. Europe Automotive Parts Remanufacturing Market, By Component
- 21.1 Europe Automotive Parts Remanufacturing Market: Component Overview
- 21.2 Europe Automotive Parts Remanufacturing Market: Component, By Engine & Related Parts
- 21.3 Europe Automotive Parts Remanufacturing Market: Component, By Transmission & Others
- 21.4 Europe Automotive Parts Remanufacturing Market: Component, By Electrical & Electronics
- 21.5 Europe Automotive Parts Remanufacturing Market: Component, By Wheels & Brakes
- 21.6 Europe Automotive Parts Remanufacturing Market: Component, By Fuel Systems
- 21.7 Europe Automotive Parts Remanufacturing Market: Component, By Other Components
22. Europe Automotive Parts Remanufacturing Market, By Vehicle
- 22.1 Europe Automotive Parts Remanufacturing Market: Vehicle Overview
- 22.2 Europe Automotive Parts Remanufacturing Market: Vehicle, By Passenger Vehicles
- 22.3 Europe Automotive Parts Remanufacturing Market: Vehicle, By Light Commercial Vehicles
- 22.4 Europe Automotive Parts Remanufacturing Market: Vehicle, By Heavy Commercial Vehicles
- 22.5 Europe Automotive Parts Remanufacturing Market: Vehicle, By Off-Road Vehicles
- 22.6 Europe Automotive Parts Remanufacturing Market: Vehicle, By All-Terrain Vehicles
23. Europe Automotive Parts Remanufacturing Market, By Country
- 23.1 Germany
- 23.2 United Kingdom
- 23.4 Russia
- 23.5 Rest of Europe
24. Asia Pacific Automotive Parts Remanufacturing Market Trends and Forecast Analysis, 2018-2028, USD MILLION & CAGR
- 24.1 Macro Economic Factor Impact Index
- 24.2 Impact analysis of market dynamics on Automotive Parts Remanufacturing Market
- 24.3 Asia Pacific Automotive Parts Remanufacturing Market: Dashboard
- 24.4 Asia Pacific Automotive Parts Remanufacturing Market Size, By Value, 2018-2021(USD Million)
- 24.5 Asia Pacific Automotive Parts Remanufacturing Market Size, By Value, 2022-2028 (USD Million)
25. Asia Pacific Automotive Parts Remanufacturing Market, By Component
- 25.1 Asia Pacific Automotive Parts Remanufacturing Market: Component Overview
- 25.2 Asia Pacific Automotive Parts Remanufacturing Market: Component, By Engine & Related Parts
- 25.3 Asia Pacific Automotive Parts Remanufacturing Market: Component, By Transmission & Others
- 25.4 Asia Pacific Automotive Parts Remanufacturing Market: Component, By Electrical & Electronics
- 25.5 Asia Pacific Automotive Parts Remanufacturing Market: Component, By Wheels & Brakes
- 25.6 Asia Pacific Automotive Parts Remanufacturing Market: Component, By Fuel Systems
- 25.7 Asia Pacific Automotive Parts Remanufacturing Market: Component, By Other Components
26. Asia Pacific Automotive Parts Remanufacturing Market, By Vehicle
- 26.1 Asia Pacific Automotive Parts Remanufacturing Market: Vehicle Overview
- 26.2 Asia Pacific Automotive Parts Remanufacturing Market: Vehicle, By Passenger Vehicles
- 26.3 Asia Pacific Automotive Parts Remanufacturing Market: Vehicle, By Light Commercial Vehicles
- 26.4 Asia Pacific Automotive Parts Remanufacturing Market: Vehicle, By Heavy Commercial Vehicles
- 26.5 Asia Pacific Automotive Parts Remanufacturing Market: Vehicle, By Off-Road Vehicles
- 26.6 Asia Pacific Automotive Parts Remanufacturing Market: Vehicle, By All-Terrain Vehicles
27. Asia Pacific Automotive Parts Remanufacturing Market, By Country
- 27.1 China
- 27.2 India
- 27.3 Japan
- 27.4 South Korea
- 27.5 Rest of Asia Pacific
28. Middle East & Africa Automotive Parts Remanufacturing Market Trends and Forecast Analysis, 2018-2028, USD MILLION & CAGR
- 28.1 Macro Economic Factor Impact Index
- 28.2 Impact analysis of market dynamics on Automotive Parts Remanufacturing Market
- 28.3 Middle East & Africa Automotive Parts Remanufacturing Market Size, By Value, 2018-2021(USD Million)
- 28.4 Middle East & Africa Automotive Parts Remanufacturing Market Size, By Value, 2022-2028 (USD Million)
29. Middle East & Africa Automotive Parts Remanufacturing Market, By Component
- 29.1 Middle East & Africa Automotive Parts Remanufacturing Market: Component Overview
- 29.2 Middle East & Africa Automotive Parts Remanufacturing Market: Component, By Engine & Related Parts
- 29.3 Middle East & Africa Automotive Parts Remanufacturing Market: Component, By Transmission & Others
- 29.4 Middle East & Africa Automotive Parts Remanufacturing Market: Component, By Electrical & Electronics
- 29.5 Middle East & Africa Automotive Parts Remanufacturing Market: Component, By Wheels & Brakes
- 29.6 Middle East & Africa Automotive Parts Remanufacturing Market: Component, By Fuel Systems
- 29.7 Middle East & Africa Automotive Parts Remanufacturing Market: Component, By Other Components
30. Middle East & Africa Automotive Parts Remanufacturing Market, By Vehicle
- 30.1 Middle East & Africa Automotive Parts Remanufacturing Market: Vehicle Overview
- 30.2 Middle East & Africa Automotive Parts Remanufacturing Market: Vehicle, By Passenger Vehicles
- 30.3 Middle East & Africa Automotive Parts Remanufacturing Market: Vehicle, By Light Commercial Vehicles
- 30.4 Middle East & Africa Automotive Parts Remanufacturing Market: Vehicle, By Heavy Commercial Vehicles
- 30.5 Middle East & Africa Automotive Parts Remanufacturing Market: Vehicle, By Off-Road Vehicles
- 30.6 Middle East & Africa Automotive Parts Remanufacturing Market: Vehicle, By All-Terrain Vehicles