Circular Economy Initiatives and Growth Opportunities from Remanufacturing in the Automotive Aftermarket, 2023

Circular Economy Initiatives and Growth Opportunities from Remanufacturing in the Automotive Aftermarket, 2023

Conventional Engine, Transmission, and Affiliated Components Will Continue to Be the Largest Replacement Revenue Category Globally

RELEASE DATE
14-Jul-2023
REGION
North America
Research Code: PE6F-01-00-00-00
SKU: TEMP_2023_11
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Description

The automotive aftermarket is a significant contributor to waste and pollution including fluids, batteries, greenhouse gases, and used materials from parts. The circular economy is an alternative economic model that focuses on reducing waste and pollution by keeping products and materials in use for as long as possible. Remanufacturing, which is the process of restoring used parts to like-new condition with affiliated warranty, is a key component of the circular economy and can play a significant role in reducing waste and pollution in the automotive aftermarket in close cooperation with recycling, reducing, and repairing.

This research report focuses on the circular economy of automotive parts in Class 1 to 3 passenger vehicles. The base year is 2022 and the forecast period is from 2023 to 2030. Revenue is calculated at the manufacturer level and represented in US dollars. Growth drivers and restraints, associations, and key trends, legislation, and incentives are discussed.

Each regional section highlights the key aftermarket indicators such as VIO, overall aftermarket revenue and revenue from reman in that region.

Reman revenue and revenue potential is further classified based on primary categories (engine and related components, wheel and brake end, electrical and electronics, and eComponents [battery reman and power electronics]). The study also highlights the competitive landscape in terms of competitors, channel analysis (where applicable), regional outlook, and growth opportunities for each value chain participant. Company profiles and examples of supplier and distributor reman programs are included.

Key Issues Addressed

  • What initiatives are OEMs and Tier I suppliers undertaking in remanufacturing?
  • What notable value chain enablers are driving growth?
  • Which OEMs and Tier I suppliers operate in the green components space and what are their main aftermarket programs?
  • What is the market potential for conventional and eComponents in terms of aftermarket revenue?
  • What regional trends, business models, legislation, and macroeconomic variables are influencing  the circular economy of parts?
  • What growth opportunities and white spaces exist for suppliers, OEMs, and value chain participants?

Author: Benson Augustine

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Circular Economy Initiatives from the Reman Aftermarket

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Key Questions This Study Will Answer

Segmentations and Definition

Circular Economy—Reverse Logistics Value Chain Process Flow

Reman Components’ Circular Economy

Distribution Channels

International Remanufacturing Standards

Associations

Selected Competitors and Value Chain Participants

Growth Drivers

Growth Restraints

Primary Findings

Global Reman Aftermarket Revenue—Market Potential

Global Reman Aftermarket Revenue—Regional Aftermarket Snapshot

Reman-as-a-Product—Maturity Cycle

OES vs. IAM—Channel Preference for Reman Replacements, 2022

M&A and Value Chain Partnerships—Primary Themes

Emerging Business Models and Regional Trends

Legislation Influencing the Circular Economy of Auto Components

Primary OEMs and Tier I Suppliers and Their Circular Economy Initiatives

Primary OEMs and Tier I Suppliers and Their Circular Economy Initiatives (continued)

Primary Battery 4R Companies in the EV Ecosystem

Core Logistics Partners’ Role in Circular Economy of Auto Parts

The Future of Sustainable Core-handling Practices in the Aftermarket

Cost and Material Savings from Circular Economy of Automotive Parts

Green Packaging in the Aftermarket Parts’ Circular Economy

Incentivizing Circular Economy Initiatives—Regional Snapshot

Overview—Green Components’ Circular Economy to Gain Momentum

Trend 1—Core Acquisition and Investment in Reverse Logistics

Trend 2—Developing and Implementing a Framework

Trend 3—Component Modularization and Maintenance

Trend 4—Traceability and Life Cycle Management

Trend 5—Future-proofing the Circular Economy of CASE Components

Trend 6—Private Labeling in the IAM

Forecast Assumptions

Dashboard—Key Aftermarket Indicators: North America

North America—Aftermarket Reman Revenue Market Size Potential

North America—Channel Preference for Select Reman Components

North American Reman Aftermarket Landscape in 2022

Growth Opportunity—North America

North America—Competitive Landscape of Primary Suppliers* in the Reman Ecosystem

Dashboard—Key Aftermarket Indicators: Europe

European Aftermarket Reman Revenue Market Size Potential

Reman Landscape—EU4 and the United Kingdom

Europe—Channel Preference for Select Reman Components

European Reman Aftermarket Landscape in 2022

Growth Opportunity—Europe

Europe—Competitive Landscape of Primary Suppliers* in the Reman Ecosystem

Dashboard—Key Aftermarket Indicators: APAC

APAC Aftermarket Reman Revenue Market Size Potential

The Reman Landscape—India and China

APAC Reman Aftermarket Landscape in 2022

Growth Opportunity—APAC

Dashboard—Key Aftermarket Indicators: LATAM

LATAM—Aftermarket Reman Revenue Market Size Potential

LATAM Reman Aftermarket Landscape in 2022

Growth Opportunity—LATAM

LATAM—Competitive Landscape of Primary Suppliers* in the Reman Ecosystem

Company Profiles

Company Profiles (continued)

Company Profiles (continued)

Company Profiles (continued)

Company Profiles (continued)

Company Profiles (continued)

Company Profiles (continued)

Company Profiles (continued)

Case Study—Stellantis N.V. 

Case Study—Ford Remanufacturing Program

Case Study—Cardone Industries (Rebuild & Return [R&R] Service)

Case Study—Groupe Renault 

Case Study—ZF Reman

Case Study—LKQ

Growth Opportunity 1—Conventional Components Aftermarket[Suppliers]

Growth Opportunity 1—Conventional Components Aftermarket[Suppliers] (continued)

Growth Opportunity 2—eComponents and Battery Remanufacturing[Suppliers]

Growth Opportunity 2—eComponents and Battery Reman[Suppliers] (continued)

Growth Opportunity 3—Reverse Logistics [OES, Retailers, and WDs]

Growth Opportunity 3—Reverse Logistics [OES, Retailers, and WDs] (continued)

Growth Opportunity 4—Private Label and Value Line [Suppliers, OEMs, Retailers, and WDs]

Growth Opportunity 4—Private Label and Value Line [Suppliers, OEMs, Retailers, and WDs] (continued)

Growth Opportunity 5—Core Buyback Programs [Suppliers, OEMs, Core Procurers, Retailers, and WDs]

Growth Opportunity 5—Core Buyback Programs [Suppliers, OEMs, Core Procurers, Retailers, and WDs] (continued)

The Last Word—3 Big Predictions

Your Next Steps

Why Frost, Why Now?

Selected Primary Competitors and Value Chain Participants

Selected Primary Competitors and Value Chain Participants (continued)

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

The automotive aftermarket is a significant contributor to waste and pollution including fluids, batteries, greenhouse gases, and used materials from parts. The circular economy is an alternative economic model that focuses on reducing waste and pollution by keeping products and materials in use for as long as possible. Remanufacturing, which is the process of restoring used parts to like-new condition with affiliated warranty, is a key component of the circular economy and can play a significant role in reducing waste and pollution in the automotive aftermarket in close cooperation with recycling, reducing, and repairing. This research report focuses on the circular economy of automotive parts in Class 1 to 3 passenger vehicles. The base year is 2022 and the forecast period is from 2023 to 2030. Revenue is calculated at the manufacturer level and represented in US dollars. Growth drivers and restraints, associations, and key trends, legislation, and incentives are discussed. Each regional section highlights the key aftermarket indicators such as VIO, overall aftermarket revenue and revenue from reman in that region. Reman revenue and revenue potential is further classified based on primary categories (engine and related components, wheel and brake end, electrical and electronics, and eComponents [battery reman and power electronics]). The study also highlights the competitive landscape in terms of competitors, channel analysis (where applicable), regional outlook, and growth opportunities for each value chain participant. Company profiles and examples of supplier and distributor reman programs are included.--BEGIN PROMO--

Key Issues Addressed

  • What initiatives are OEMs and Tier I suppliers undertaking in remanufacturing?
  • What notable value chain enablers are driving growth?
  • Which OEMs and Tier I suppliers operate in the green components space and what are their main aftermarket programs?
  • What is the market potential for conventional and eComponents in terms of aftermarket revenue?
  • What regional trends, business models, legislation, and macroeconomic variables are influencing  the circular economy of parts?
  • What growth opportunities and white spaces exist for suppliers, OEMs, and value chain participants?

Author: Benson Augustine

More Information
Author Benson Augustine
Industries Automotive
No Index No
Is Prebook No
Keyword 1 Automotive Parts Remanufacturing
Keyword 2 Circular Economy Of Automotive Parts
Keyword 3 Auto Parts Industry Trends
Podcast No
WIP Number PE6F-01-00-00-00