There were 1,395 press releases posted in the last 24 hours and 243,053 in the last 365 days.
Europe Automotive Parts Remanufacturing Market 2022
Europe Automotive Parts Remanufacturing Market report estimates the market to surge at a steady CAGR of close to 7% though the course of 2021-2031
NEW YORK, NEW YORK, UNITED STATES, September 19, 2022 /EINPresswire.com/ — Europe Automotive Parts Remanufacturing Market 2022
The European market for automotive parts remanufacturing is currently valued at over US$ 22.6 Bn. Increasing awareness regarding remanufactured parts, rising use of passenger cars for recreational purposes, and growth in trade economics will drive demand for HCVs and LCVs, thereby aiding market expansion. Revenue from automotive parts remanufacturing is projected to increase at close to 7% CAGR and be valued at over US$ 44 Bn by 2031.
Request For Free Sample Report@https://www.persistencemarketresearch.com/samples/14263
Government regulatory actions are aimed at gradually increasing resource productivity, potentially leading to environmental pricing. For example, the European Council and Parliament’s Waste Directive 2008/98/EC provided a legislative framework for waste management in European countries. Furthermore, it established fundamental definitions, ideas, and concepts such as waste hierarchy and the polluter pays principle. In the near future, Europe’s countermeasures are expected to include stronger environmental regulations for products as well as new ways to tax ecosystem services and resources.
These factors are set to drive the industry for automotive parts remanufacturing in the European continent. Besides, market players are frequently involved in collaborations, mergers, and acquisitions so as to increase their footprint and market share.
In May 2021, Meritor, Inc. collaborated with Hexagon Purus, a global leader in zero-emission e-mobility. These companies will work together to integrate Meritor’s Blue Horizon™ 14Xe™ integrated ePowertrain into Hexagon Purus’ contracted projects, which include Class 6 & Class 7 trucks and Class 8 (6×4) vehicles. Production is scheduled to begin in 2021.
In February 2020, PE Automotive GmbH & Co. KG took over the trading business of Monark Automotive GmbH as well as the Monark brand.
Request For Report Customization@https://www.persistencemarketresearch.com/request-customization/14263
Key Takeaways from Market Study
Based on product, the Europe automotive parts remanufacturing market was dominated by electrical parts such as starters, alternators, and others, as demand for electric vehicles grows in Europe
Vehicle longevity has been gradually increasing in commercial as well as electric vehicle because of remanufacturing parts.
The passenger vehicles segment dominated the European market for automotive parts remanufacturing, owing to rising consumer demand for compact and mid-sized cars.
Over the decade, Germany and the U.K. are expected to be extremely profitable markets. Presence of significant automobile OEMs and aftermarket sector in both countries is the primary reason for this.
“Growing awareness and economical prices of remanufactured automotive parts to drive market expansion across the European continent,” says a Persistence Market Research analyst.
Competitive Landscape in Europe
The Europe automotive parts remanufacturing market is highly competitive at regional levels, and highly fragmented in nature. Some of the key players included operating in this space are Borg Automotive A/S, Caterpillar Inc., ZF Friedrichshafen AG, Carwood Group, Meritor, Inc., Valeo SA, Robert Bosch GmbH, Monark Automotive GmbH, Budweg Caliper A/S, ATC Drivetrain, RECRO Ltd., FZT Unna GmbH, E. & U. Hetzel GmbH, Autrans Transmissions Parts & Service B.V., and Scandinavian Transmission Service AB, VEGE Group.
Top companies operating in the market are occupying a hefty share in terms of revenue. With compliance to governmental standards and regulations, these companies have a strong regional presence. Prime manufacturers are also updating their technologies to improve their market shares.
Conclusion
Strict restrictions enacted by the European Council will continue to reduce the rate at which worn-out car parts are abandoned and disposed into the environment. Such measures are boosting the remanufacturing industry’s expansion throughout the region, which is known for its important contribution to the worldwide vehicle industry.
For in-depth competitive analysis, buy now@https://www.persistencemarketresearch.com/checkout/14263
Furthermore, due to unpredictable raw material pricing and fragmented OEM presence in Europe, purchasing new parts is becoming increasingly unfeasible. As a result, reprocessing and testing essential automotive components is gaining traction across Europe, bolstering the market for remanufactured automobile parts.
Related Reports-
Automotive Digital Key Market
Smart Bicycle Accessories Market
About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.
Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
Persistence Market Research Pvt Ltd Atul Singh
PMR
+1 646-568-7751
email us here
Visit us on social media:
Twitter
LinkedIn
You just read:
EIN Presswire’s priority is source transparency. We do not allow opaque clients, and our editors try to be careful about weeding out false and misleading content. As a user, if you see something we have missed, please do bring it to our attention. Your help is welcome. EIN Presswire, Everyone’s Internet News Presswire™, tries to define some of the boundaries that are reasonable in today’s world. Please see our Editorial Guidelines for more information.
Follow EIN Presswire
© 1995-2022 Newsmatics Inc. dba EIN Presswire
All Right Reserved.
