Automotive parts remanufacturing can be defined as the process of rebuilding of automobile components to the specifications of original manufactured product using a combination of reused, repaired and new parts. The concept of automotive parts remanufacturing started in 1940’s in the North America and Europe regions. Automotive parts remanufacturing gained serious attention as a process to tackle issues related to scarcity of raw material and resource limitation during the period of World War II. Remanufacturing process has proven to be an effective and economical way for both manufacturers and customers in order to overcome the aforementioned issues.

Besides its economical merits, automotive parts remanufacturing offer a variety of environmental benefits such as energy conservation, raw material conservation and reducing landfills. Industrial and environmental organizations across the world have framed and laid down guidelines for automotive parts remanufacturing in order to aid rebuilders and remanufacturers thereby, reducing adverse effects on the environment. Organizations such as the United States Environmental Protection Agency (EPA) implemented the Comprehensive Procurement Guideline (CPG) program to promote waste reduction and resource conservation through the use of materials recovered from solid waste to be used in remanufacturing. In addition, Automotive Parts Remanufacturers Association (APRA) provided detailed guidelines for both remanufactures and customers. The aforementioned policies and law frameworks have certainly uplifted the adoption of automotive parts remanufacturing. Consequently, the market for automotive parts remanufacturing is expected to grow significantly throughout the forecast period from 2017 to 2025.

The report titled “Automobile Parts Remanufacturing Market- Growth, Future Prospects and Competitive Landscape, 2017-2025” offers strategic insights into the global automotive parts remanufacturing market with a focus on the market size and estimates for the duration 2015 to 2025. The said research study covers in-depth analysis of market segments based on type, components and cross-sectional study across different geographies. The study covers the comparative analysis of each sub-segment for the years 2016-2025. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities.

In order to help strategic decision makers, the report also includes competitive profiling of the leading automotive parts remanufacturing companies, their strategies, market positioning and key developments. Some of the major players profiled in the report include Caterpillar Inc., Robert Bosch GmbH, ZF Friedrichshafen AG, BORG Automotive A/S, Detroit Diesel Corporation, Motorcar Parts of America, Inc., Marshall Engines, Standard Motor Products Inc., Cardone Industries Inc., Genuine Parts Company, Maval Manufacturing Inc., ATC Drivetrain Inc., Teamec BVBA, Ander Niermann, and Jasper Engines and Transmissions.

Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the automobile parts remanufacturing.
• Market fuelers, market impediments, and their impact on the market growth
• Market inclination insights and key trend analysis for automobile parts remanufacturing market
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2015 – 2016)

Overall, the research study provides a holistic view of the global automotive parts remanufacturing market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

As of 2016, remanufacturing with identity loss was the dominating segment in terms of revenue in the overall automotive parts remanufacturing market by type. Small parts and components recovered from scrap are thoroughly cleaned, restored and stocked to be used as a replacement part in remanufacturing. Disassembled parts are inventoried, just like purchased parts and made available for the final assembly. This method helps in considerably reducing the overall cost of the total remanufactured product. The technique is generally used for small parts such as fasteners, springs, gears and a variety of other components. With a vast array of applications, the demand for the remanufacturing with identity loss is expected to thrive consistently in the following years.

Remanufacturing without identity loss segment trailed the remanufacturing with identity loss in terms of revenue, as of 2016. The type is generally used for an assembly of components. Parts such as engine assemblies, transmission systems, electrical systems, steering control systems and brake control systems, among others are a few examples of parts remanufactured under this category. The remanufactured assemblies are easily available for a variety of vehicle class and are economical compared to their new counterparts without compromising on the quality. Consequently, the demand for the remanufacturing without identity loss parts is expected to demonstrate a positive growth throughout the forecast period of 2017 to 2025.

As of 2016, the remanufacturing of the mechanical components of an automobile dominated the overall automotive parts remanufacturing market worldwide by component segment. Mechanical components such as engines and power plant assemblies, power transmission assemblies and a variety of control systems are remanufactured on a large scale. Mechanical components are carefully inspected, checked against original equipment measured specifications for correct dimensional tolerances and are precisely machined. With rising prices of new components and assemblies, customers prefer remanufactured components without compromising on the quality. Therefore, due to aforementioned factors, the market for mechanical components remanufacturing is expected to demonstrate a significant growth in the following years.

Remanufacturing of electrical components trailed the mechanical components remanufacturing market in terms of revenue, as of 2016. Remanufacturing of electrical components includes a variety of motors used in automobiles as well as other electrical components such as alternators and starters, among others. Most of the motors are remanufactured either by changing the windings or making minor upgradation to their construction, making the electrical component work as its new variant. Thus, the demand of electrical remanufactured components is uplifted considerably by its merits such as low cost and reduction in the use of raw materials is further expected to grow throughout the forecast period.

As of 2016, Asia Pacific dominated the overall automotive parts remanufacturing market in terms of revenue as well as in volume. Low cost has been one of the major driving factors for the automotive parts remanufacturing market in this region. Consistently growing automobile sector including new as well as old automobiles and expansion of after sales market for automotive parts have significantly aided the growth of remanufactured parts market. Asia Pacific is expected to dominate the overall automotive parts remanufacturing market throughout the forecast period during 2017- to 2025.

North America trailed Asia Pacific in the overall automotive parts remanufacturing market in terms of revenue and volume. Besides economical, environmental factor is one of the prime drivers promoting the adoption of remanufactured automobile parts. Comprehensive Procurement Guideline (CPG) issued by the United States Environmental Protection Agency (EPA) for reduction and recycling of solid waste has boosted the demand for automotive parts remanufacturing in this region. With the perpetual growth in the automotive sector and rise in the use of remanufactured parts, it is expected that the market will witness a positive growth in the following years.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Parts Remanufacturing market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Automotive Parts Remanufacturing market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Automotive Parts Remanufacturing market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Automotive Parts Remanufacturing market?
• Which is the largest regional market for Automotive Parts Remanufacturing market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Automotive Parts Remanufacturing market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Parts Remanufacturing market worldwide?