By Component:

Based on component, the market is segmented into engine, battery, brakes, converter, alternator, and others.

Trends in the component:

• Rising adoption of alternators due to their durability, versatility, and improved operational efficiency is driving the market.
• Factors including cost effectiveness, improved performance, sustainability, and reliability are driving the utilization of remanufactured automotive parts.

Alternator segment accounted for the largest revenue share in the overall automotive parts remanufacturing market share in 2024.

• Alternator is a component in vehicles that converts mechanical energy into alternating current electricity.
• Moreover, remanufactured alternators offer various benefits including reduced raw material consumption, reduced carbon emissions, and lower energy consumption.
• Additionally, remanufactured alternators offer comparable performance and enhanced lifespan to refurbished alternators.
• For instance, Bosch offers various remanufactured alternators as a part of its eXchnange program, providing a cost-effective alternative to new parts of the vehicle repair. Moreover, these remanufactured alternators are designed for a good price-performance ratio, ensuring enhanced quality.
• Thus, increasing advancements associated alternator segment are driving the automotive parts remanufacturing market size.

Brakes segment is anticipated to register the fastest CAGR growth during the forecast period.

• Brakes in vehicles are an essential component for safety, which allows the driver to take control of the vehicle.
• Remanufactured brakes involve refurbishing brake components such as callipers, rotors, shoes, and others to meet original equipment specifications.
• Moreover, brake remanufacturing involves various stages like dismantling, inspection, testing, and cleaning of the product to ensure its safety and functional capacity.
• For instance, Valeo offers various remanufactured brake calipers as part of its remanufacturing program, which involves an all-brands approach.
• According to the analysis, the increasing adoption of remanufactured brakes in vehicles is propelling the market.

By Vehicle Type:

Based on vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.

Trends in the vehicle type:

• The rising trend in integration of advanced technologies in passenger cars, such as advanced materials and advanced driver assistance systems, is driving the automotive parts remanufacturing market growth.
• Key trends in the commercial vehicles segment include advancements in safety features, enhanced durability, flexibility, and rising adoption of advanced automobile systems.

Passenger cars segment accounted for the largest revenue share of 65.72% in the overall market in 2024.

• Passenger cars refer to motor vehicles that are designed for personal transportation, which primarily carry passengers rather than goods.
• In the automotive parts remanufacturing sector, various components of passenger cars are remanufactured, such as tires, brakes, suspension parts, and others which has worn out by deterioration due to constant friction and impact.
• Additionally, due to corrosion of metal parts in passenger cars, various components such as chassis and frames are replaced with new products to avoid any accidents.
• For instance, ZF Friedrichshafen AG offers hybrid and electric mobility systems for passenger cars. Moreover, ZF has a strong focus on remanufacturing car components by ensuring quality testing and customer-oriented programs.

• Therefore, the increasing utilization of remanufactured parts in the passenger car segment is driving the automotive parts remanufacturing market size.

Heavy commercial vehicles segment is anticipated to register substantial CAGR growth during the forecast period.

• Heavy commercial vehicles involve trucks, buses, and other heavy-duty vehicles, which are utilized for transporting heavy loads over long distances.
• Moreover, overloading and constant operation cause a huge impact on braking, steering, and engine of the heavy commercial vehicles, leading to frequent part replacements.
• In heavy commercial vehicles, various components like engines, transmissions, axles, and others are refurbished due to failure in the cylinder head, corrosion of metallic components, electric system failure, and others.
• For instance, Remante GmbH, a German-based remanufacturing company, offers remanufactured components for heavy commercial vehicles such as high-pressure pumps, gear actuators, brake calipers, EGR, injectors, turbochargers, and others.
• Therefore, the rising advancements in heavy commercial vehicle segment are expected to drive the automotive parts remanufacturing market trends during the forecast period.

By Vehicle Propulsion:

Based on vehicle propulsion, the market is segmented into petrol, diesel, and electric.

Trends in the vehicle propulsion:

• Increasing adoption of petrol and diesel vehicles, due to their several benefits, including increased availability of refueling stations, quicker acceleration, higher power output, and others.
• There is a rising trend towards adoption of electric vehicles, attributing to its lower emissions and eco-friendliness.

Petrol segment accounted for the largest revenue in the overall automotive parts remanufacturing market share in 2024.

• Petrol vehicle is a type of motor vehicle that utilizes a spark-ignited internal combustion engine, which is powered by petrol.
• Moreover, there are various causes of dysfunction in petrol cars, such as fuel pump failure, clogged fuel filter, clogged air filters, and engine problems.
• In petrol vehicle parts remanufacturing, core components such as engines, transmission components are disassembled, inspected, replaced, and tested, offering a cheaper alternative to new parts.
• For instance, according to the Press Information Bureau (PIB), the total registration of petrol vehicles and diesel vehicles in India in 2023 reached up to 1,80,56,749 units and 24,02,341 units respectively.
• Therefore, the above factors are driving the automotive parts remanufacturing market trends.

Electric segment is anticipated to register the fastest CAGR growth during the forecast period.

• Electric vehicles (EVs) convert electrical energy stored in batteries into mechanical energy, which further powers the wheels.
• In electric vehicle parts remanufacturing, components like electric motors, batteries, and others are remanufactured due to lower production costs and improved sustainability in manufacturing operations.
• For instance, according to the International Energy Agency, the total sales of battery electric vehicles (BEVs) in Europe reached 2.2 million units in 2023, demonstrating a substantial increase of 37.5% in comparison to 1.6 million units in 2022.
• Thus, according to the analysis, the rising adoption of electric vehicles is projected to drive the market growth during the forecast period.