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Automotive Parts Remanufacturing - Global Strategic Business Report

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    Report

  • 438 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 1206746

Global Automotive Parts Remanufacturing Market to Reach $79.4 Billion by 2030

The global market for Automotive Parts Remanufacturing estimated at US$53.1 Billion in the year 2022, is projected to reach a revised size of US$79.4 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2022-2030. Electrical & Electronics, one of the segments analyzed in the report, is projected to record 5.9% CAGR and reach US$27.1 Billion by the end of the analysis period. Growth in the Engine & Related Parts segment is estimated at 5.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $20.5 Billion, While China is Forecast to Grow at 6.8% CAGR

The Automotive Parts Remanufacturing market in the U.S. is estimated at US$20.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.1 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Select Competitors (Total 118 Featured)

  • 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

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Automotive Parts Remanufacturing Market

What is the estimated value of the Automotive Parts Remanufacturing Market?

The Automotive Parts Remanufacturing Market was estimated to be valued at $53.1 Billion in 2022.

What is the growth rate of the Automotive Parts Remanufacturing Market?

The growth rate of the Automotive Parts Remanufacturing Market is 5.2%, with an estimated value of $79.4 Billion by 2030.

What is the forecasted size of the Automotive Parts Remanufacturing Market?

The Automotive Parts Remanufacturing Market is estimated to be worth $79.4 Billion by 2030.

Who are the key companies in the Automotive Parts Remanufacturing Market?

Key companies in the Automotive Parts Remanufacturing Market 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. and Remy Power Products, LLC.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Growing Automotive Industry’s Carbon Footprint & All Consuming Focus on Circularity Provides the Foundation for the Rise of Remanufacturing
  • Recycling & Remanufacturing Closes the Loop on the Circular Economy
  • Dedicated Focus Aimed at Continuing to Push Down Auto Production Emissions Sets the Stage for the Growth of Remanufactured Automotive Parts: Global CO2 Emissions from Car Production (In Tons Per Car & Million Tons Per Year) for the Years 2012, 2014, 2016, 2018, 2020 & 2022
  • Global Economic Update
  • Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World Towards a Cost of Living Crisis: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
  • War-Induced Commodity Price Increases & Broad Based Price Pressures Mark the Return of Global Inflation to the Highest Level Seen Since 1996: Global Inflation Rates (In %) for the Years 2019 Through 2024
  • Although Facing a Lower Recession Risk, Global Economic Growth in 2023 to Slowdown Amid War, Inflation, Elevated Interest Rates & Marginal Easing of Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
  • Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
  • Competition
  • Automotive Parts Remanufacturing - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Auto Parts Remanufacturing: Why & What’s In Store
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. 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 2022
  • 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 2022
  • 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 & 2022
  • Myriad Trends Shape Demand Patterns in Component Sub-Markets
  • Review of Major Challenges to Growth & the Way Forward
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Automotive Parts Remanufacturing Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Automotive Parts Remanufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 3: World Historic Review for Automotive Parts Remanufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 4: World 16-Year Perspective for Automotive Parts Remanufacturing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets for Years 2014, 2023 & 2030
  • TABLE 5: World Recent Past, Current & Future Analysis for Electrical & Electronics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 6: World Historic Review for Electrical & Electronics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 7: World 16-Year Perspective for Electrical & Electronics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 8: World Recent Past, Current & Future Analysis for Engine & Related Parts by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 9: World Historic Review for Engine & Related Parts by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 10: World 16-Year Perspective for Engine & Related Parts by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 11: World Recent Past, Current & Future Analysis for Wheels & Brakes by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 12: World Historic Review for Wheels & Brakes by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 13: World 16-Year Perspective for Wheels & Brakes by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 14: World Recent Past, Current & Future Analysis for Transmission by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 15: World Historic Review for Transmission by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 16: World 16-Year Perspective for Transmission by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 17: World Recent Past, Current & Future Analysis for Fuel Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 18: World Historic Review for Fuel Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 19: World 16-Year Perspective for Fuel Systems by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 20: World Recent Past, Current & Future Analysis for Steering Parts by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 21: World Historic Review for Steering Parts by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 22: World 16-Year Perspective for Steering Parts by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 23: World Recent Past, Current & Future Analysis for Other Components by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 24: World Historic Review for Other Components by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 25: World 16-Year Perspective for Other Components by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 26: World Recent Past, Current & Future Analysis for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 27: World Historic Review for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 28: World 16-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 29: World Recent Past, Current & Future Analysis for Light Commercial Vehicles (LCVs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 30: World Historic Review for Light Commercial Vehicles (LCVs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 31: World 16-Year Perspective for Light Commercial Vehicles (LCVs) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 32: World Recent Past, Current & Future Analysis for Heavy Commercial Vehicles (HCVs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 33: World Historic Review for Heavy Commercial Vehicles (HCVs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 34: World 16-Year Perspective for Heavy Commercial Vehicles (HCVs) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 35: World Recent Past, Current & Future Analysis for Off Road Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 36: World Historic Review for Off Road Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 37: World 16-Year Perspective for Off Road Vehicles by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
  • TABLE 38: World Recent Past, Current & Future Analysis for All-Terrain Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 39: World Historic Review for All-Terrain Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 40: World 16-Year Perspective for All-Terrain Vehicles by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2014, 2023 & 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Automotive Parts Remanufacturing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • Automotive Parts Remanufacturing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Automotive Parts Remanufacturing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • REST OF WORLD
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 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