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Europe Automotive Parts Remanufacturing Market: Key Developments

For instance, in June 2020, the U.K. government invested US$ 91.3 Million in the automotive industry to develop automotive technology. Furthermore, from this investment, a huge amount will also be invested in lightweight and advanced automotive components that have a longer lifespan, which is expected to propel the demand for automotive components over the forecast period.

For instance, in February 2023, the European Parliament had approved the law, wherein the sales of new petrol and diesel cars will be banned in 2035 to promote the usage of electric cars to achieve zero CO2 emissions from passenger vehicles.

For instance, in November 2020, Renault announced that they will stop assembling the new cars in their old factory in Paris, as it will be converted into a recycling and repair center by 2025.

For instance, in September 2021, Xos Inc., a heavy commercial vehicle manufacturer, entered into a partnership with Cox Automotive Mobility, an automotive part manufacturing company. Through this initiative, the companies planned to focus on electric vehicle battery remanufacturing capabilities for battery solutions provided by Xos Inc. This is anticipated to help Xos Inc. in supporting its second-life battery offering for electric vehicles.

For instance, in November 2020, BORG Automotive, a Europe-based OE remanufacturer of automotive parts, added new 113 parts to its portfolio for starters and alternators.

Europe Automotive Parts Remanufacturing Market: Key Companies Insights

Major players operating in the Europe Automotive Parts Remanufacturing market include Borg Automotive A/S, Budweg Caliper A/S, Caterpillar Inc., LuK Unna GmbH & Co. KG, Valeo SA, Schouw & Co., ZF Friedrichshafen AG, Monark Automotive GmbH, Carwood Group, Robert Bosch GmbH, and Meritor, Inc.