#Mining Remanufacturing Components Market Size
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marketsresearchinsights · 9 months ago
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Mining Remanufacturing Components Market Growth by Forecast to 2030
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The latest “ Mining Remanufacturing Components Market Forecast | Share and Size - 2030” report by The Insight Partners offers a detailed analysis of prime factors that impact the market growth such as key market players, current market developments, and pivotal trends. The report includes an in-depth study of key determinants of the global market including drivers, challenges, restraints, and upcoming opportunities.
This market report is ideal for businesses opting to enter or excel in the Mining Remanufacturing Components market. This strategic market forecast not only makes businesses aware of present market scenarios but also presents future market forecasts. These insights profoundly cover Mining Remanufacturing Components market size, share, growth, and projected revenue in the forecast duration.
The Mining Remanufacturing Components market report encompasses driving factors of the market coupled with prime obstacles and restraining factors that hamper the Mining Remanufacturing Components market growth. The report helps existing manufacturers and entry-level companies devise strategies to battle challenges and leverage lucrative opportunities to gain a foothold in the global market.
How is the Mining Remanufacturing Components Market Report Beneficial for Your Business?
Figure out the Mining Remanufacturing Components market dynamics altogether | 2030
Inspect and scrutinize the competitive scenario and the future Mining Remanufacturing Components market landscape with the help of different strictures including Porter's five forces.
Understand the impact of different government regulations throughout the global Mining Remanufacturing Components market and evaluate the market condition in the tough time.
Consider the portfolios of the protruding players functional in the market in consort with the thorough study of their products/services.
Have a compact idea of the highest revenue-generating segment with the help of a thorough Mining Remanufacturing Components market analysis by our seasoned research experts.
A cost-effective way to gain valuable insights into the Mining Remanufacturing Components market without the need to host an independent team of researchers at their own cost.
Mining Remanufacturing Components Market diagrams, pie charts, regional market share maps, inventory network examination, and import/trade subtleties help you pitch investors.
The Mining Remanufacturing Components market report offers an in-depth analysis of the various prime market players that are active in the market. Moreover, it provides their thorough financial analysis, business strategies, SWOT profile, business overview, and recently launched products & services. In addition, the report offers recent market developments such as market expansion, mergers & acquisitions, and partnerships & collaborations. The prime market players observed in the report are Companies AB Volvo, Atlas Copco, Caterpiller Inc, Epiroc AB, Hitachi Construction Machinery Co. Ltd., J C Komatsu Ltd., Liebherr Group, Bamford Excavators Ltd., SRC Holding Corporation, Swanson IndustriesOn the Basis of Component this market is categorized further into-
Engine
Axle
Transmission
Hydraulic Cylinder
and Others
On the Basis of Equipment this market is categorized further into-
Excavators
Wheel Loader
Wheel Dozer
Crawler Dozer
Haul Trucks
and Others
On the Basis of Industry this market is categorized further into-
Coal
Metal
and Others
The report offers an in-depth study of every segment, which helps market players and stakeholders understand the fastest-growing segments with maximum Mining Remanufacturing Components market share and highest-grossing segments in the market.
The Mining Remanufacturing Components market is analyzed across the globe and highlights several factors that affect the performance of the market across the key regions –
North America (U.S., Canada, Mexico)
Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)
Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)
Latin America (Brazil, Rest of Latin America)
The Middle East and Africa (Turkey, GCC, Rest of the Middle East and Africa)
Rest of the World
The Mining Remanufacturing Components market research offers revenue forecasts for every year coupled with sales growth of the market. The forecasts are provided by skilled analysts and after an in-depth analysis of the Mining Remanufacturing Components market trends. These forecasts are essential for gaining investment insights into the prospects of any industry.
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
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travelog007 · 6 days ago
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marketwatchpune · 2 years ago
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Canada Gpu/ Tpu 3D Storage Technology Market Upcoming Trends, Segmented by Type, Application, End-Canadaer and Region – Freescale Semiconductor Inc, Texas Instruments Inc, TechPowerUp, Advanced Micro Devices Inc, ARM Holdings Plc
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jean-perry · 2 years ago
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tumb11 · 2 years ago
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virtualcollectiveparadise · 3 years ago
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Mining remanufacturing components market growth can be attributed to the factors like lower cost of remanufactured mining components as compared with new parts and growing mining equipment parts across the globe.
https://www.maximizemarketresearch.com/market-report/global-mining-remanufacturing-components-market/33636/
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yesamykimthings · 5 years ago
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Mining Remanufacturing Components Market Growth Opportunities and Global Analysis (2020-2027) | Caterpillar, SRC Holdings Corporation, Komatsu
Mining Remanufacturing Components Market Growth Opportunities and Global Analysis (2020-2027) | Caterpillar, SRC Holdings Corporation, Komatsu
Most recent Study on Industrial Growth of Global Mining Remanufacturing Components Market 2020-2025. A point by point study gathered to offer Latest knowledge about intense highlights of the Mining Remanufacturing Components market. The report contains distinctive market expectations identified with CAGR, income, production, Consumption, market size, gross margin, cost and other considerable…
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i-dopebouquetbeard · 5 years ago
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Wabtec Buys RELCO
Wabtec buys RELCO.     Wabtec Corporation buys RELCO Locomotives for $29 million.     RELCO was founded in 1961 by George Bachman to lease quality locomotives to railroads and industrial companies throughout the Midwest. In its earliest days, RELCO leased locomotives to customers and provided full maintenance.     George’s son, Don, forged the development of a field service division in the 1970s, ensuring their locomotive lease fleet and any warranty issues were fully handled. By the 1980s, their privately-owned fleet of leased locomotives was the largest in the nation.     The 1990s brought class one railroads’ focus on larger high horsepower locomotives, the growth of the Short Line Railroads, and aging medium horsepower and switcher fleets. RELCO began to fill the growing opportunity for remanufacturing locomotives. Its world-class shop facility in Albia can now build 23 locomotives at once.     Mark, the third generation of the Bachman family, keeps RELCO ahead of operational and technical curves. It has opened out to five times its original size. Even with far greater capabilities, its values, integrity, and the ultimate goal remains the same. Provide a complete package of motive power solutions to railroads and industry.     Rafael Santana of Wabtec said: ‘This acquisition will unlock tremendous value for our customers, employees, and shareholders. The complementary combination of our portfolios will create aftermarket services growth and the development of new, creative solutions to drive improved asset use and reduced operating cost for customers.’     Pascal Schweitzer of Wabtec added: ‘Today marks an exciting day for Wabtec’s services business and will further strengthen our portfolio. By leveraging Wabtec’s robust remote monitoring and diagnostics and predictive maintenance capabilities, as well as our focus on lean continuous improvement, we will build on RELCO’s deep product offering, a track record of service quality, and engineering creativity for locomotive modernization. We are excited about the long-term opportunities before us and are happy to welcome Mark Bachman and the RELCO team to the Wabtec family.’     Mark Bachman of RELCO said: ‘The combination of our teams is an excellent fit. Our joint companies share a common culture and values rooted in innovation, collaboration, inclusiveness, and continuous improvement. Together, we will expand our reach, strengthen our market capabilities and better serve the rail industry.’     Wabtec is a global provider of equipment, systems, digital solutions, and value-added services for freight and transit rail. Drawing on four centuries of collective experience across Wabtec, GE Transportation, and Faiveley Transport, its digital ability, tech innovation, manufacturing, and services enable digital-rail-and-transit systems. Their freight portfolio features a full line of locomotives, software apps, and a broad choice of mission-critical control systems, including Positive Train Control (PTC). The transit portfolio provides highly engineered systems and services to every major rail transit system around the world, supplying an integrated series of components for busses and all train-related market segments to deliver safety, efficiency, and passenger comfort. Along with its portfolio of products and solutions for the rail and transit industries, Wabtec is also a provider of mining, marine, and industrial solutions.
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ipratikd-blog · 5 years ago
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Mining Remanufacturing Components Market: Market Outlook, Growth Factors, Market Demands, Industry Analysis & Forecast to 2027
According to the new market research report "Mining Remanufacturing Components Market By Component (Engine, Hydraulic Cylinder, Axle, Transmission, Differential, Torque Converter, Final Drive), Equipment (Excavator, Mine Truck, Wheel Loader, Dozer), Industry, Region - Global Forecast to 2027", published by MarketsandMarkets™,The Mining Remanufacturing Components Market is projected to grow at a CAGR of 3.5% during the forecast period, to reach a market size of USD 5.0 billion by 2027 from USD 3.8 billion in 2019.
Browse and in-depth TOC on "Mining Remanufacturing Components Market"    
81 - Tables 33 - Figures 132 - Pages
The engine is estimated as the fastest growing remanufactured component for mining equipment
The engine is the most critical and high-value component of any mining equipment. The technology in engines is changing rapidly, primarily as a response to increasing stringency in emissions regulations. The reduced emission limits have also increased the engine complexity with advanced technology, which, in turn, has increased the pricing. The average life of an engine for the mining equipment is in the range of 19,000- 20,500 operating hours. A remanufactured engine offers several advantages such as lower cost, superior quality, and similar product warranty terms as the new one.  Therefore, in the case of an engine breakdown, most of the end-users will go for remanufacturing rather than purchasing a new engine. Hydraulic excavators and mine/haul trucks are expected to have more demand for remanufactured engines, as this equipment are used at the mine site and have to face harsh environment and continuous mining operations typically.
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Mining equipment is projected to experience the fastest demand for remanufactured components in Asia Oceania
The Asia Oceania region is expected to be the fastest growing market for the mining remanufacturing components. This region has emerged as a huge business opportunity for the mining industry. For instance, Asia Oceania held the second largest share within the Mining Remanufacturing Components Market in 2018. The key factor driving the Asia Oceania market is increasing mining activities, which have increased the sale of mining equipment, resulting in the growth of mining equipment parc. For instance, Vale, the world’s largest iron ore mining company, has been increasing its presence in China. In India, 30 new coal mining sites have been identified by the Central Mine Planning and Design Institute (CMPDI). These sites are projected to add 100 million ton to India’s coal output. With this, there is an increase in average work hours per annum, which in turn has resulted in increased component/system replacements in the region. The major industry players in Asia Oceania are Komatsu (Japan), Hitachi Construction Machinery (Japan), and BEML (India)
Mine/Haul Truck is the estimated to showcase the largest demand for remanufactured components in coming years
Mine/Haul trucks are used extensively for surface mining activities. It contributes the maximum to the overall mining equipment parc globally. This equipment is used for carrying heavy loads over long distances in extreme condition and provide better traction on rough terrains. Therefore, the possibility of wear and tear is more for mine/haul truck as compared to other equipment. Therefore, mine/haul truck is expected to have a promising growth in the mining exploration.
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Some prominent players in the Mining Remanufacturing Components Market are Caterpillar (US), Komatsu (Japan), Hitachi Construction Machinery (Japan), Liebherr (Switzerland), Epiroc (Sweden), Atlas Copco (Sweden), JCB (UK), Volvo Construction Equipment (Sweden), SRC Holdings Corporation (US), and Swanson Industries (US).
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emmastevensposts · 6 years ago
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Automotive Parts Remanufacturing Market Size, Growth, Trends, Top Players & Future Outlook In Near Years
Automotive parts remanufacturing market refers to the business involved in the manufacturing process that includes product dismantling, replacing and restoring components, and testing of whole product and the individual parts to its original design specifications. The performance parameters that are equal or better than the previous component along with lower cost and warranty periods offered by the remanufacturers are among the key factors fueling growth of the automotive parts remanufacturing market.
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Increasing shortage of natural resources and difficulty in finding materials for manufacturing processes is among the major factors impacting the growth of automotive components manufacturing industries across the globe. Rebuilding of vehicle components benefits business in terms of the overall cost of manufacture through reduced energy consumption, reduced raw material requirements, reduced cost to the market, and increased price flexibility for the consumers. These factors are expected to be among the significant factors impacting the industry growth over the forecast period.
Reduced impact on environment, owing to waste generated and industry emissions through reuse of the vehicle parts will leverage the industry demand
In March 2018, the European Commission finalized its Circular Economy Package (COP) proposal that was originally proposed in 2015, for the introduction of set of directives and laws designed for the resource-efficient future of the European economies. The proposal details automotive parts remanufacturing market as an integral part for the reduction of emissions and wastes generated through end of life cycle of an automotive. Furthermore, with an estimated global vehicle parc over 1.2 billion, an expected increase of demand at around 3% year-on-year over the forecast period will present considerable requirement of raw materials for the manufacturing processes. Inadvertently, lack of raw material resources and the growing costs of mining metals, high carbon footprint on the environment due to high energy consumption, and water requirement for the new equipment manufacturing will increase the demand for remanufactured automotive parts over the coming years, thereby fueling growth of global automotive parts remanufacturing market.
Trends expected to provide high traction to the industry growth include extended life of components, advent of predictive maintenance, and IoT connectivity that increasingly complement the repeated processing of vehicle components and engines. Growing concerns for environment responsibility, potential opportunities in component costs reduction, reduced resource security challenges, reduced lead time, secure spare parts supply, and increasing consumer confidence are some of the major factors that enhance the profitability of the participants. These factors are expected to provide strong growth opportunities for the global automotive parts remanufacturing (reman) market.
Lack of adequate recognition by consumers and unfavorable regulatory policies in the Asia Pacific economies are expected to hamper the overall industry growth
High competition from the vendors supplying recycled and repaired automobile body parts, shrinking price differences between these portfolio and the original products, and extended warranty of components are few factors restraining growth of the market. Moreover, lack of consumer recognition of the differences between used and reman products, as the connotation of the terminology is misconstrued, is another factor hindering growth of automotive parts remanufacturing market. Availability of the product at 60% of the original equipment also makes it difficult for vendors to overcome the consumer misconceptions regarding the product quality, specifically in emerging economies. In conjunction with these parameters, many Asian economies including India, have banned the import of cores, which forms the basic requirement for a remanufacturer. These parameters are expected to cause significant roadblock to the industry growth.
Europe accounted for the second largest share of global automotive parts remanufacturing market and is expected to hold its position over the forecast period. Industry participants have established strong foothold in the region, owing to increasing support from legislative authorities and the original equipment manufacturers.
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Some of the key players in the global automotive parts remanufacturing market include Valeo SA, ZF TRW, Carwood Group, Robert Bosch GmbH, Meritor Inc., Monark Automotive GmbH, Budweg Caliper A/S, Genuine Parts Company, ATC Drivetrain Inc., Maval Manufacturing Inc., Teamec BVBA, Motorcar Parts of America, Inc., and Jasper Engines and Transmissions.
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newmarketresearch1 · 7 years ago
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Automotive Parts Remanufacturing Market - Global Industry Insights, Size, Share, and Forecast till 2025
Automotive parts remanufacturing market refers to the business involved in the manufacturing process that includes product dismantling, replacing and restoring components, and testing of whole product and the individual parts to its original design specifications. The performance parameters that are equal or better than the previous component along with lower cost and warranty periods offered by the remanufacturers are among the key factors fueling growth of the automotive parts remanufacturing market.
Request For Sample Copy of this Research Report :
https://www.coherentmarketinsights.com/insight/request-sample/1498
Increasing shortage of natural resources and difficulty in finding materials for manufacturing processes is among the major factors impacting the growth of automotive components manufacturing industries across the globe. Rebuilding of vehicle components benefits business in terms of the overall cost of manufacture through reduced energy consumption, reduced raw material requirements, reduced cost to the market, and increased price flexibility for the consumers. These factors are expected to be among the significant factors impacting the industry growth over the forecast period.
Reduced impact on environment, owing to waste generated and industry emissions through reuse of the vehicle parts will leverage the industry demand
In March 2018, the European Commission finalized its Circular Economy Package (COP) proposal that was originally proposed in 2015, for the introduction of set of directives and laws designed for the resource-efficient future of the European economies. The proposal details automotive parts remanufacturing market as an integral part for the reduction of emissions and wastes generated through end of life cycle of an automotive. Furthermore, with an estimated global vehicle parc over 1.2 billion, an expected increase of demand at around 3% year-on-year over the forecast period will present considerable requirement of raw materials for the manufacturing processes. Inadvertently, lack of raw material resources and the growing costs of mining metals, high carbon footprint on the environment due to high energy consumption, and water requirement for the new equipment manufacturing will increase the demand for remanufactured automotive parts over the coming years, thereby fueling growth of global automotive parts remanufacturing market.
Trends expected to provide high traction to the industry growth include extended life of components, advent of predictive maintenance, and IoT connectivity that increasingly complement the repeated processing of vehicle components and engines. Growing concerns for environment responsibility, potential opportunities in component costs reduction, reduced resource security challenges, reduced lead time, secure spare parts supply, and increasing consumer confidence are some of the major factors that enhance the profitability of the participants. These factors are expected to provide strong growth opportunities for the global automotive parts remanufacturing (reman) market.
Lack of adequate recognition by consumers and unfavorable regulatory policies in the Asia Pacific economies are expected to hamper the overall industry growth
High competition from the vendors supplying recycled and repaired automobile body parts, shrinking price differences between these portfolio and the original products, and extended warranty of components are few factors restraining growth of the market. Moreover, lack of consumer recognition of the differences between used and reman products, as the connotation of the terminology is misconstrued, is another factor hindering growth of automotive parts remanufacturing market. Availability of the product at 60% of the original equipment also makes it difficult for vendors to overcome the consumer misconceptions regarding the product quality, specifically in emerging economies. In conjunction with these parameters, many Asian economies including India, have banned the import of cores, which forms the basic requirement for a remanufacturer. These parameters are expected to cause significant roadblock to the industry growth.
Europe accounted for the second largest share of global automotive parts remanufacturing market and is expected to hold its position over the forecast period. Industry participants have established strong foothold in the region, owing to increasing support from legislative authorities and the original equipment manufacturers.
Some of the key players in the global automotive parts remanufacturing market include Valeo SA, ZF TRW, Carwood Group, Robert Bosch GmbH, Meritor Inc., Monark Automotive GmbH, Budweg Caliper A/S, Genuine Parts Company, ATC Drivetrain Inc., Maval Manufacturing Inc., Teamec BVBA, Motorcar Parts of America, Inc., and Jasper Engines and Transmissions.
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marketresearchfuture-blog · 7 years ago
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North America Heavy Construction Equipment Market Analysis and Forecast to 2027
Market Highlights:  
The innovation of heavy equipment has confirmed to be strength of for construction industry. Since last decade, the construction firms have grown enormously after coming into the reality of heavy construction equipment. The actual motive behind this innovation was dipping the labor cost and time. The heavy construction equipment are majorly utilized in the processes of transportation, lifting earthmoving, and material handling and others.
North America is well known to be a developed economy in terms of construction industry and considerbeing the second major market in construction industry. Since the tag of developed economy and high disposable income, North America has become a developed market for construction industry and generated the revenue.
The US has pushed to be a growing market because of the enormous investment in the real estate sector. Since last ten years, there has been a massive demand arising from residential as well as commercial segment. Focusing the commercial purpose, the US government has taken come up to increase the construction of airports dams, bridges,roads and which has turn out to be a key revenue generation for the construction industries.
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Followed by the US, Canada is known to be the developed market for heavy construction equipment. As the country’s market situation is very sound and huge investment has taken place since decade.
Moving ahead, the report offers comprehensive analysis of industry overview of Heavy Construction Equipment which includes types, application analysis, end users, supply chain management and key regulations in various regions along with the heavy construction equipment distributor analysis.
Nextly, the report covers geographical analysis of countries includes the US and Canada. Furthermore, the report has been bifurcated on the basis of by types (earthmoving equipment, material handling equipment, heavy construction vehicles, others (cranes, excavator, dozer)), by application(mining & excavation, earthmoving, transportation, lifting, material handling, others), by end users (oil & gas industry, construction industry, military, mining, agriculture & forestry and others).
The heavy construction equipment analysis market research report provides detail analysis of market in terms of value market. The report also provides the future outlook of the market till 2021. Moreover, the global as well as market share of various players based on methods is also analyzed in the report. Lastly, the report provides company profiles of major players in the market.
Brief TOC:
North America: Heavy Construction Equipment Industry
Introduction
1.1 Definition
1.2 Scope of the Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
North America Heavy Construction Equipment Industry: Overview
3.1 Introduction of Heavy Construction Equipment
3.1.1 Definition of Heavy Construction Equipment
3.1.2 Market Segmentation of Heavy Construction Equipment
3.1.2.1 Market Segmentation On The Basis Of Types
3.1.2.2 Market Segmentation On The Basis Of Application
3.1.2.3 Market Segmentation On The Basis Of End User
Market Dynamics
4.1 Drivers
4.1.1 Increasing Demand For Construction Equipment
4.2 Restraints
4.2.1 High Manufacturing Cost Of Construction Equipment’s
4.3 Opportunities
4.3.1 Increasing Global Presence
4.4 Mega Trends
4.4.1 Rise in Disposable Income
4.5 Macroeconomic Indicators
4.6 Technological Advancement/ Industry Updates
4.7 Important Pointers by Industry Experts
4.7.1 North America as Fastest Growing Market
4.7.2 Growth Prospects
4.7.3 Earthmoving as Widely Used Equipment
4.7.4 Infrastructure and Heavy Construction Equipment
4.7.5 Chief Players in North America and New Product Launch
4.7.6 Remanufacturing: Keyinsights
4.7.7 Pricing Analysis
4.7.8 Key Regulations
Continue…
Research Methodology:
To calculate Heavy Construction Equipment market size, we have considered revenue of top players in the market and to offer accuracy, our research is supported by industry experts who offer insight on industry structure and technology assessment, competitive landscape, penetration, emerging products and trends. Their analysis is based (80 to 85%)on primary &(15 to 20%) on secondary researchas well as years of professional expertise in their respective industries.  In addition to analyze current and historical trends, ouranalysts predict where the market is headed over the next five to ten years.  It varies by segment for these categories geographically presented in the list of market tables. Top-down and bottom-up are important strategies of processing the information and knowledge ordering, used in a variety of fields including humanistic, software and scientific theories and management and organization. In practice, they can be seen as a style of thinking, teaching, or leadership.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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emmastevensposts · 6 years ago
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Automotive Parts Remanufacturing Market Size, Growth, Trends, Top Players & Future Outlook In Near Years
Automotive parts remanufacturing market refers to the business involved in the manufacturing process that includes product dismantling, replacing and restoring components, and testing of whole product and the individual parts to its original design specifications. The performance parameters that are equal or better than the previous component along with lower cost and warranty periods offered by the remanufacturers are among the key factors fueling growth of the automotive parts remanufacturing market.
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Increasing shortage of natural resources and difficulty in finding materials for manufacturing processes is among the major factors impacting the growth of automotive components manufacturing industries across the globe. Rebuilding of vehicle components benefits business in terms of the overall cost of manufacture through reduced energy consumption, reduced raw material requirements, reduced cost to the market, and increased price flexibility for the consumers. These factors are expected to be among the significant factors impacting the industry growth over the forecast period.
Reduced impact on environment, owing to waste generated and industry emissions through reuse of the vehicle parts will leverage the industry demand
In March 2018, the European Commission finalized its Circular Economy Package (COP) proposal that was originally proposed in 2015, for the introduction of set of directives and laws designed for the resource-efficient future of the European economies. The proposal details automotive parts remanufacturing market as an integral part for the reduction of emissions and wastes generated through end of life cycle of an automotive. Furthermore, with an estimated global vehicle parc over 1.2 billion, an expected increase of demand at around 3% year-on-year over the forecast period will present considerable requirement of raw materials for the manufacturing processes. Inadvertently, lack of raw material resources and the growing costs of mining metals, high carbon footprint on the environment due to high energy consumption, and water requirement for the new equipment manufacturing will increase the demand for remanufactured automotive parts over the coming years, thereby fueling growth of global automotive parts remanufacturing market.
Trends expected to provide high traction to the industry growth include extended life of components, advent of predictive maintenance, and IoT connectivity that increasingly complement the repeated processing of vehicle components and engines. Growing concerns for environment responsibility, potential opportunities in component costs reduction, reduced resource security challenges, reduced lead time, secure spare parts supply, and increasing consumer confidence are some of the major factors that enhance the profitability of the participants. These factors are expected to provide strong growth opportunities for the global automotive parts remanufacturing (reman) market.
Lack of adequate recognition by consumers and unfavorable regulatory policies in the Asia Pacific economies are expected to hamper the overall industry growth
High competition from the vendors supplying recycled and repaired automobile body parts, shrinking price differences between these portfolio and the original products, and extended warranty of components are few factors restraining growth of the market. Moreover, lack of consumer recognition of the differences between used and reman products, as the connotation of the terminology is misconstrued, is another factor hindering growth of automotive parts remanufacturing market. Availability of the product at 60% of the original equipment also makes it difficult for vendors to overcome the consumer misconceptions regarding the product quality, specifically in emerging economies. In conjunction with these parameters, many Asian economies including India, have banned the import of cores, which forms the basic requirement for a remanufacturer. These parameters are expected to cause significant roadblock to the industry growth.
Europe accounted for the second largest share of global automotive parts remanufacturing market and is expected to hold its position over the forecast period. Industry participants have established strong foothold in the region, owing to increasing support from legislative authorities and the original equipment manufacturers.
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Some of the key players in the global automotive parts remanufacturing market include Valeo SA, ZF TRW, Carwood Group, Robert Bosch GmbH, Meritor Inc., Monark Automotive GmbH, Budweg Caliper A/S, Genuine Parts Company, ATC Drivetrain Inc., Maval Manufacturing Inc., Teamec BVBA, Motorcar Parts of America, Inc., and Jasper Engines and Transmissions.
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