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The automotive circular economy market has emerged as a pivotal segment within the automotive industry, driven by the increasing demand for environmental sustainability and waste reduction in the automotive supply chain. Additionally, economic efficiency and regulatory compliance through implementing an automotive circular economy foster innovation within the industry, enhancing competitiveness and building a resilient and responsible automotive ecosystem.This report comes with 10% free customization, enabling you to add data that meets your specific business needs.
Environmental regulations mandating the reduction of waste, company emission reduction targets, customer preference for sustainable materials, and lower product costs through circular economy practices serve as primary drivers in the market.
However, the market faces challenges such as the high processing cost of products, product degradation and quality, logistical hurdles for collecting and sorting, product warranty limitations, and customer perception toward refurbished or recycled products. Nevertheless, opportunities abound as the automotive sector continues to push the boundaries of innovation, potentially expanding applications to various automotive components to offer sustainable and low-cost alternatives for newly manufactured components.
The Europe region spearheads market growth, buoyed by countries such as the U.K., Germany, Italy, and France, which have robust automotive industries and an increasing awareness of sustainability concerns. Leading companies in this market include Umicore, ZF Friedrichshafen AG, BorgWarner, and LKQ Corporation, among others. These companies are focused on strategic partnerships, product innovations, and geographical expansion to maintain their competitive edge in the market.
Market Segmentation:
Segmentation 1: by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Trucks
- Buses
Segmentation 2: by Propulsion Type
- Internal Combustion Engine Vehicles
- Electric Vehicles
- Hybrid Electric Vehicles
- Plug-In Hybrid Electric Vehicles
- Battery Electric Vehicles
Segmentation 3: by End-User Type
- Original Equipment Manufacturers (OEMs)
- Automotive Aftermarket
- Others
Segmentation 4: by Product Type
- Recycled Products
- Remanufactured Products
- Refurbished Products
- Reused Products
Segmentation 5: by Component Type
- Battery
- Tire
- Polymers
- Body Parts
- Brakes and Suspensions
- Others
Segmentation 6: by Region
- North America
- Europe
- Asia-Pacific
- Rest-of-the-World
Table of Contents
Executive SummaryScope and DefinitionMarket/Product DefinitionKey Questions AnsweredAnalysis and Forecast Note
1. Markets: Industry Outlook
2. Automotive Circular Economy Market (by Application)
3. Automotive Circular Economy Market (by Product)
4. Automotive Circular Economy Market (by Region)
5. Companies Profiled
6. Research Methodology
Companies Mentioned
- Umicore
- Sims Metal Management
- ZF Friedrichshafen AG
- BorgWarner
- LKQ Corporation
- Valeo
- Copart
- IAA (Insurance Auto Auctions)
- Renault Group
- BMW Group
- Toyota Motor Corporation
- Redwood Materials
- Aptiv PLC
- Bosch
- Marelli