Europe Automobile Industry Revenue, Industry Regulations-Ken Research

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Remanufacturing Business to Drive Growth in
European Automobile Aftermarket-Ken Research
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The automotive aftermarket is a huge secondary
market in the automotive industry. It comprises
of manufacturing, remanufacturing, distribution,
retailing and installation of all vehicle parts,
chemicals, equipment and accessories. All the
extra parts and accessories are not necessarily
manufactured by the original equipment
manufacturer (OEMs). Replacement or spare parts
and accessories are the two categories in
automotive aftermarket. Automobile accessories
are certain parts made for comfort, convenience,
performance, safety or customization, and are
designed for add-on after the original sale of
the motor vehicle. Aftermarket consists of parts
for replacement, collision, appearance, and
performance, such as electric propulsion at
varying qualities and prices for all types of
vehicle and models. Aftermarket provides vehicles
services, maintenance, and customized services.
Automotive aftermarket consist of vehicle
manufacturers, distributors, wholesalers,
importers and retailers of automotive parts,
accessories, tools, equipment, vehicle service,
repair. According to the study Automotive
Aftermarket in Europe, Europe has enforced
stringent laws for the growth of remanufacturing
business because a lot of worn-out car parts are
discarded and dumped in the environment.
Consumers buying new automobile parts in Europe
are deemed to volatile the prices of raw
materials and European automotive aftermarket
consists of fragmented presence of OEMs.
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Therefore, reprocessing and testing core
components of cars are solidifying the growth of
its automotive parts remanufacturing market in
the country. Environmental concerns in Europe are
associated with ageing of automobiles that
continue to be on road and demand for automotive
parts remanufacturing. The automobile aftermarket
is introducing new products and components for
controlling a vehicles performance. The advent
of hybrid and advanced vehicles in Europe is also
encouraging the adoption of automotive parts
remanufacturing within the automobile industry.
Majority of the European consumers demand for
remanufactured engines, transmission components,
turbochargers, transmission clutches, brake
calipers and steering wheels. Europes is the
leading country in automobile manufacturing in
the world and Germany dominates the aftermarket
market with a huge share of revenue followed by
France and Italy. Automotive aftermarket is
associated with higher profit margins due to the
sales of automotive components, coupled with
minimal input costs for remanufacturing discarded
products. The leading players in Europes
automotive parts remanufacturing market are Borg
Automotive A/S, Valeo SA, Caterpillar Inc., ZF
Friedrichshafen AG, Carwood Group, Meritor Inc.,
Robert Bosch GmbH, Budweg Caliper A/S, Monark
Automotive GmbH, and LuK Unna GmbH Co. KG. The
automotive aftermarket in Europe provides tires,
batteries, collision body parts, oils,
lubricants, brake parts, filters, lightening and
electronic components.
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The increase in consumers disposable income,
growth in trade and countrys economy are the
various factors driving a favourable growth in
the automotive aftermarket in Europe. Aftermarket
has stepped into the shipping industry by
supplying various ship spare parts.
Diversification in the shipping industry with the
introduction of multilateral and multinational
agreements enhances the growth and trading in
European automotive aftermarket market. Vast
automobile manufacturing units, demand for
automobile goods and commodities to boost the
automotive aftermarket market. However, Europes
uneven economic growth and fluctuating prices of
raw materials may hinder the growth in the
automotive aftermarket over the next few
years. To know more, click on the link
below https//www.kenresearch.com/automotive-tran
sportation-and-warehousing/automotive-and-automoti
ve-components/automotive-aftermarket-in-europe/143
977-100.html Related Reports https//www.kenrese
arch.com/automotive-transportation-and-warehousing
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h-report/145187-100.html
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