News: Automotive remanufacturing - Global industry analysis and forecast 2016-24
Persistence Market Research Pvt. Ltd has released its report into the automotive parts remanufacturing market
Friday, 27th May 2016
PMR's report notes the automotive parts remanufacturing market is inversely related to the economy as a whole. When consumer spending is high, demand for remanufacturing goes down because motorists will replace worn-out vehicles rather than extend their use through remanufactured parts. When consumer spending is low, demand for remanufactured parts increases as they represent a cheaper alternative to new parts.
The major challenges to the growth of the remanufacturing market, according to PMR, are the ability of mechanics to remove or add the remanufactured part, and its compatibility with the existing parts. There are ample opportunities for remanufacturing in price sensitive nations such as India and Philippines among others. The market is driven by the slow economic growth in regions of Africa and Middle East.
PMR segments the automotive parts remanufacturing market into ‘remanufacturing without identity loss’, ‘remanufacturing with identity loss’ and ‘remanufacturing by recoating the worn parts’. The market is geographically segmented into North America, Asia-Pacific, Europe and Rest of World. The report expects the Asia-Pacific region to grow over the coming years as the people in this region are price sensitive.
The authors list the niche and key players in the global market as: Ander Niermann, BORG Automotive A/S, Caterpillar Inc., Cardone Industries Inc., Genuine Parts Company, Marshall Engines, Maval Manufacturing Inc., Jasper Engines and Transmissions, Motor Car Parts of America Inc., Standard Motor Products Inc., ATC Drivetrain Inc., Teamec BVBA and Robert Bosch GmbH.
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