Analysis of the automotive parts remanufacturing market in Europe


Reconditioning of auto parts in Europe

Refurbishment is the rebuilding of the product to original product specifications with the combination of reused or repaired parts and new components. It requires the replacement or repair of damaged or obsolete components and modules. In remanufacturing, a new part is restored from an existing core through industry standard procedure in accordance with technical specifications to provide performance and warranty similar to the original part. In addition, remanufactured parts cost around 60-70% of the original product with a warranty equal to or greater than that of the original product. The auto parts manufacturing process includes the disassembly, restoration and replacement of components, as well as the testing of individual parts according to their original design.

The European auto parts remanufacturing market is estimated at US $ 15,059.1 million in value by the end of 2019

𝐒𝐨𝐦𝐞 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬!
** 𝐢𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠 𝐓𝐎𝐂, 𝐟𝐢𝐠𝐮𝐫𝐞𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐫𝐭 + 𝟑𝟎 𝐦𝐢𝐧𝐮𝐭𝐞𝐬 𝐨𝐟 𝐜𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐭𝐢𝐨𝐧

* country level analysis for any 5 𝒄𝒐𝒖𝒏𝒕𝒓𝒊𝒆𝒔 𝒐𝒇 𝒚𝒐𝒖𝒓 𝒄𝒉𝒐𝒊𝒄𝒆.
* Competitive analysis of all market players.
* 40 𝒂𝒏𝒂𝒍𝒚𝒔𝒕 𝒉𝒐𝒖𝒓𝒔 to cover any other data point

Market dynamics – Pilot

Strict regulatory policies regarding waste management are expected to drive the growth of the European auto parts manufacturing market during the forecast period
Government regulatory policies focus on the progressive promotion of resource productivity, leading to potential pricing of the environment. For example, Directive 2008/98 / EC of the Council and of the European Parliament on waste established a legal framework for the treatment of waste in European countries. In addition, it established definitions, principles and basic concepts such as the waste hierarchy and the polluter pays principle. Europe’s responses are expected to include stricter environmental standards for products and the means to charge for ecosystem services and resources in the near future. Thus, these factors are expected to accelerate auto parts remanufacturing and thus drive the market growth during the forecast period.

Rising consumer awareness of environmentally friendly products is expected to propel the growth of the European auto parts remanufacturing market during the forecast period.
Consumers are focusing on adopting environmentally friendly and sustainable products that use fewer materials or less energy. According to a study on sustainable consumption carried out by the European Remanufacturing Network, in 2015 more than 80% of European citizens admitted that they preferred products with minimal impact on the environment. Hence, key market players such as Robert Bosch GmbH adhere to environmental protection and occupational safety standards which in turn is expected to drive the market growth during the forecast period.

𝒔𝒆𝒈𝒎𝒆𝒏𝒕𝒂𝒕𝒊𝒐𝒏 𝒄𝒐𝒗𝒆𝒓? 𝒂𝒅𝒅𝒆𝒅?
Currently, the research report pays special attention to the following regions:
𝑨𝒎𝒆𝒓𝒊𝒄𝒂 (𝑼𝒏𝒊𝒕𝒆𝒅 𝑺𝒕𝒂𝒕𝒆𝒔, 𝑪𝒂𝒏𝒂𝒅𝒂, 𝑴𝒆𝒙𝒊𝒄𝒐), (𝑮𝒆𝒓𝒎𝒂𝒏𝒚, 𝑼𝒏𝒊𝒕𝒆𝒅 𝑲𝒊𝒏𝒈𝒅𝒐𝒎,, 𝑰𝒕𝒂𝒍𝒚, 𝑹𝒖𝒔𝒔𝒊𝒂, 𝑺𝒑𝒂𝒊𝒏,.), 𝑺𝒐𝒖𝒕𝒉 𝑨𝒎𝒆𝒓𝒊𝒄𝒂 (𝑩𝒓𝒂𝒛𝒊𝒍, 𝑨𝒓𝒈𝒆𝒏𝒕𝒊𝒏𝒂,.) 𝒂𝒏𝒅 𝑬𝒂𝒔𝒕 𝒂𝒏𝒅 𝑨𝒇𝒓𝒊𝒄𝒂 (𝑺𝒂𝒖𝒅𝒊 𝑨𝒓𝒂𝒃𝒊𝒂, 𝑺𝒐𝒖𝒕𝒉,.)
** A country of specific interest may be included at no additional cost. For the inclusion of more regional segments, quotes may vary.

Market dynamics – Constraints

Lack of skilled workers and technical know-how on third-party products is expected to dampen the growth of the European auto parts remanufacturing market during the forecast period
For the remanufacturing of older auto parts, technical knowledge of each component is essential, which is not readily available to non-OEMs. In addition, the lack of engineers and skilled manpower to perform specific operations leads to major errors. The complex design of the fuel system, engines, etc. makes it extremely difficult for engineers and workers to process technical information and experience to troubleshoot and redesign parts. These factors are expected to hamper the growth of the market during the forecast period.

The requirement for large investments to meet technological advancement is expected to hamper the European auto parts manufacturing market during the forecast period
Substantial investments are needed to meet advanced technological requirements. Such a large investment is not possible for small and medium-sized enterprises which in turn is expected to hamper the growth of the European auto parts manufacturing market during the forecast period.

Market opportunities

Providing alternative reuse options for the automotive industry is expected to provide growth opportunities
Legislation on end-of-life vehicles (ELVs) in European countries is expected to boost the refurbishment industry in Europe. In addition, the longevity of vehicles is gradually increasing, so the average age of vehicles is over seven years. Therefore, manufacturers have the opportunity to gain traction as more spare parts will be required. From a technical point of view, electronics, being a very underestimated sector, requires significant expertise in information systems. These factors are expected to provide various opportunities for the remanufacturing market.

𝒎𝒂𝒊𝒏 𝒌𝒆𝒚 𝒑𝒍𝒂𝒚𝒆𝒓𝒔 𝒊𝒏 𝒕𝒉𝒆 𝒊𝒏𝒅𝒖𝒔𝒕𝒓𝒚 𝒂𝒓𝒆- Major players operating in the European auto parts remanufacturing market are Borg Automotive A / S, Budweg Caliper A / S, Caterpillar Inc., LuK Unna GmbH & Co. KG, Valeo SA, Schouw & Co., ZF Friedrichshafen AG, Monark Automotive GmbH, Carwood Group, Robert Bosch GmbH and Meritor, Inc.

𝒐𝒖𝒓 𝒏𝒆𝒆𝒅𝒔?
Yes, we can add or profile a new business based on the client’s needs in the report. Final confirmation should be provided by the research team depending on the difficulty of the investigation.
** Data availability will be confirmed by research in the case of a private company. 𝒕𝒐 3 𝒑𝒍𝒂𝒚𝒆𝒓𝒔 can be added at no additional cost.

𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐨𝐟 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:

Contact us:
Name: Mr. Raj Shah
Phone: United States +12067016702 / United Kingdom +4402081334027

About Coherent Market Insights:
Coherent Market Insights is a leading market research and consulting firm providing action-ready syndicated research reports, personalized market analysis, advisory services and competitive analysis through various recommendations related to emerging market trends , technologies and potential opportunities in absolute dollars.

This version was posted on openPR.


About Dwight E. McCray

Check Also

Auto parts remanufacturing market is expected to reach US$91 billion by the end of 2026

Automotive Parts Refurbishment Market 2022 The auto parts remanufacturing market will benefit from the swelling …