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Remanufacturing to Play a Pivotal Role as Automotive Aftermarket Embraces Circular Economy Principles

Frost & Sullivan Manufacturing

By Benson Augustine, Program Manager – Mobility The global automotive aftermarket is witnessing a paradigm shift as circular economy initiatives gain momentum. Revenues of the global remanufactured automotive components market are projected to rise from $27 billion in 2022 to $42 billion by 2030.

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Remanufacturing in the Automotive Aftermarket Picks Up Pace as the Automotive Industry Increasingly Embraces Circular Economy Models

Frost & Sullivan Manufacturing

By Benson Augustine, Senior Industry Analyst, Aftermarket & Digital Retail – Mobility Rematec, a leading trade show for stakeholders in the automotive remanufacturing ecosystem, was held in Amsterdam in June this year, after a four-year hiatus. North America and Europe currently dominate the global reman aftermarket.

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Remanufacturing in the Automotive Aftermarket Picks Up Pace as the Automotive Industry Increasingly Embraces Circular Economy Models

Frost & Sullivan Manufacturing

Conventional engine, transmission, and affiliated components will represent immediate high-growth opportunities in the automotive aftermarket, while the transition to vehicle electrification will drive investments in electric vehicle (EV) related remanufacturing.

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Accelerated Vehicle Electrification and Shift to 800V Architecture Spotlight Strong Growth Prospects for Wide-Bandgap (WBG) Semiconductors in North American Electric Vehicles Market

Frost & Sullivan Manufacturing

Multiple advantages underpin emergence of Silicon carbide (SiC) and Gallium-nitride (GaN) WBG semiconductor technologies as the future of electric vehicle power electronics. They are seen which are seen as critical to the future of EV power electronics. billion by 2030.

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Lowered Production Costs and Improved Infrastructure will be Key to Driving Success of Hydrogen Powered, Fuel Cell Electric Vehicles in Passenger Vehicles Market

Frost & Sullivan Manufacturing

Both government and the automotive industry have established hydrogen roadmaps, even as they focus on overcoming challenges related to high production and maintenance costs, nascent supply chains, as well as inadequate refueling infrastructure. of global passenger sales by 2030. China is currently the world’s largest hydrogen producer.

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Vehicle Interiors Set for Massive Transformation in an Age of Autonomous Vehicles

Frost & Sullivan Manufacturing

Automotive manufacturers will need to prioritize customization and personalization, while achieving differentiation through features that enhance comfort, convenience, entertainment, and safety. This is being reinforced by advances in connectivity technologies, automotive electronics, and software.

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Key Trends in Global Advanced Driver Assistance Systems (ADAS) and Autonomous Driving (AD) Market

Frost & Sullivan Manufacturing

OEMs will continue to collaborate with various companies in the automotive value chain to expedite the development and implementation of hands-off and eyes-off technologies. Our Perspective By 2029-2030, L2 autonomous vehicles will surpass L1 in unit sales, with an estimated 35 million L2 vehicles sold by 2030.