Remanufactured Automotive Parts Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

The remanufactured automotive parts market has the potential to grow by USD 10.55 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.92%.

This remanufactured automotive parts market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by vehicle type (passenger cars and commercial vehicles) and geography (North America, Europe, APAC, South America, and MEA). The remanufactured automotive parts market report also offers information on several market vendors, including Aer Manufacturing, LP, ATC Drivetrain, BBB Industries LLC, Borg Automotive AS, Cardone Industries Inc., Daimler Trucks North America LLC (Detroit Diesel Corp.), Jasper Engines and Transmissions, Renault SA, Robert Bosch GmbH, and ZF Friedrichshafen AG among others.

What will the Remanufactured Automotive Parts Market Size be in 2021?

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Remanufactured Automotive Parts Market: Key Drivers and Trends

The aging vehicle fleet is notably driving the remanufactured automotive parts market growth, although factors such as increasing adoption of EVs may impede the market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the remanufactured automotive parts industry get your FREE report sample now.

• A large number of in-use vehicles with a significantly high average age offer numerous opportunities for remanufactured automotive parts vendors.
• The average age of vehicles, especially in North America and Europe, is rising continuously. In the US, according to the data from the Bureau of Transportation Statistics, the average age of all light vehicles in use in the US was 11.8 years in 2019. Similarly, according to the European Automobile Manufacturers Association, the average life of trucks in the EU is 12.4 years.
• The increasing in-use commercial vehicles across the globe are also subjected to continuous wear and tear with age.
• Vendors offer remanufactured automotive parts with a high degree of reliability and performance, which has been attracting a large number of automotive enthusiasts toward them.

This remanufactured automotive parts market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Remanufactured Automotive Parts Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Aer Manufacturing, LP
• ATC Drivetrain
• BBB Industries LLC
• Borg Automotive AS
• Cardone Industries Inc. 
• Daimler Trucks North America LLC (Detroit Diesel Corp.)
• Jasper Engines and Transmissions
• Renault SA
• Robert Bosch GmbH
• ZF Friedrichshafen AG

The remanufactured automotive parts market is fragmented and the vendors are deploying growth strategies such as rising investments in R&D to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the remanufactured automotive parts market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Remanufactured Automotive Parts Market?

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50% of the market’s growth will originate from North America during the forecast period. The US is the key market for remanufactured automotive parts market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The rising demand for commercial vehicles owing to the ongoing expansion of the oil and gas industry, the widespread agricultural sector, the massive mining industry, and the growing industrial manufacturing sector will facilitate the remanufactured automotive parts market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Vehicle Type Segments in the Remanufactured Automotive Parts Market?

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The growth of the market by the passenger cars segment can be attributed to the increasing disposable income of individuals belonging to the middle class. Sales in the midsized crossover segment in Europe increased by 8% in 2019 to 872,500 units and accounted for 5.6% of the total European car market when compared with 2018. In 2019, SUVs accounted for 38% of new car sales in Europe. The rising preference for fuel efficiency and three-row seats in crossovers and SUVs is driving the growth of the SUV and crossover vehicles market in the US.

However, the passenger cars segment of the global automotive industry was badly hit by the COVID-19 pandemic in 2020. Also, at present, supply chains are regaining their lost strength and the number of vehicles on roads is increasing which is positively influencing the remanufactured automotive parts vendors. Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the remanufactured automotive parts market size.

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What are the Key Factors Covered in this Remanufactured Automotive Parts Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive remanufactured automotive parts market growth during the next five years
• Precise estimation of the remanufactured automotive parts market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the remanufactured automotive parts industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of remanufactured automotive parts market vendors

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