Europe Automotive Parts Remanufacturing Market is Predicted to See Lucrative Gains Over 2019-2026

Remanufacturing is reconstructing a product according to the original specifications using a combination of reused or repaired parts and new components. In addition, damaged or obsolete components and modules must be replaced or repaired. Remanufacturing is the process of creating a new part from an existing core using a standardized industrial approach that follows technical criteria and provides equivalent performance and warranty as to the original item.


By the end of 2019, the Europe Automotive Parts Remanufacturing Market is expected to be worth US$ 15,059.1 million. In Germany, rising population and urbanization will raise the demand for resources, water, land, and energy to meet individual demands. As a result, there will be a significant strain on resources, and potential supply disruptions may occur due to increased rivalry inside the country. Companies with expertise in producing items with limited resources are expected to be more resistant to these challenges. The influence could also contribute to a spike in resource costs, growing more volatile over time.


Another factor driving the growth of the Europe Automotive Parts Remanufacturing Market in Germany is customer awareness of environmentally friendly products. With expanding consumer knowledge about the environment, demand for eco-products or sustainable products that use fewer resources or fewer energy increases. The higher profit margin connected with the German aftermarket rather than the business of make and sell is one of the primary factors anticipated to drive the Europe Automotive Parts Remanufacturing Market sector in Germany. The remanufacturing industry has a low input cost due to the low cost of discarded products, making it a very profitable venture.


The usage of electronics in normal vehicles has increased dramatically due to the introduction of new products that govern vehicle performance, such as brake systems, environmental controls, radio, transmission, engine, GPS, driving aids, audiovisual displays, and more. Furthermore, the Europe Automotive Parts Remanufacturing Market is being driven by a significant shift of mechanical parts to electronic and mechatronic parts such as electronic power-assisted steering, electronic throttle bodies, electronic diesel injectors, and turbochargers with electronic wastegates.


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 are the major key players in the Europe Automotive Parts Remanufacturing Market.

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