Automotive Circular Economy Market - A Global and Regional Analysis: Focus on Application Type, Product Type, and Region - Analysis and Forecast, 2024-2034
Introduction to the Automotive Circular Economy Market
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.
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
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- Executive Summary
- Scope and Definition
- Market/Product Definition
- Key Questions Answered
- Analysis and Forecast Note
- 1. Markets: Industry Outlook
- 1.1 Trends: Current and Future Impact Assessment
- 1.2 Supply Chain Overview
- 1.3 Regulatory Landscape
- 1.4 Impact Analysis for Key Global Events
- 1.5 Market Dynamics Overview
- 1.5.1 Market Drivers
- 1.5.2 Market Restraints
- 1.5.3 Market Opportunities
- 1.6 Investment Landscape
- 1.7 Case Studies
- 1.8 Automotive Circular Economy Overview
- 1.8.1.1 Need for Circular Economy in the Automotive Industry
- 1.8.1.2 Sustainability and ESG Goals of Key Automotive Companies
- 1.8.1.3 Impact of Circular Economy in Various Automotive Lifecycle Stages
- 1.8.1.3.1 Manufacturing
- 1.8.1.3.2 Retail
- 1.8.1.3.3 Aftermarket
- 1.8.1.4 Impact of Automotive Circular Economy
- 1.8.1.4.1 Recycled Materials
- 1.8.1.4.2 Green Steel
- 1.8.1.4.3 Climate Neutral Vehicles
- 1.8.1.4.4 Sustainable Manufacturing Plants
- 1.8.1.4.5 Green Dealerships
- 1.8.1.4.6 Second-Life Batteries
- 2. Automotive Circular Economy Market (by Application)
- 2.1 Application Segmentation
- 2.2 Automotive Circular Economy Market (by Vehicle Type)
- 2.2.1 Passenger Vehicles
- 2.2.2 Commercial Vehicles
- 2.2.2.1 Light Commercial Vehicles
- 2.2.2.2 Trucks
- 2.2.2.3 Buses
- 2.3 Automotive Circular Economy Market (by Propulsion Type)
- 2.3.1 Internal Combustion Engine Vehicles
- 2.3.2 Electric Vehicles
- 2.3.2.1 Hybrid Electric Vehicles
- 2.3.2.2 Plug-In Hybrid Electric Vehicles
- 2.3.2.3 Battery Electric Vehicles
- 2.4 Automotive Circular Economy Market (by End-User Type)
- 2.4.1 Original Equipment Manufacturers (OEMs)
- 2.4.2 Automotive Aftermarket
- 2.4.3 Others
- 3. Automotive Circular Economy Market (by Product)
- 3.1 Product Segmentation
- 3.2 Product Summary
- 3.3 Automotive Circular Economy Market (by Process Type)
- 3.3.1 Recycled Products
- 3.3.2 Remanufactured Products
- 3.3.3 Refurbished Products
- 3.3.4 Reused Products
- 3.4 Automotive Circular Economy Market (by Component Type)
- 3.4.1 Battery
- 3.4.2 Tire
- 3.4.3 Polymers
- 3.4.4 Body Parts
- 3.4.5 Brakes and Suspensions
- 3.4.6 Others
- 4. Automotive Circular Economy Market (by Region)
- 4.1 Automotive Circular Economy Market (by Region)
- 4.2 North America
- 4.2.1 Regional Overview
- 4.2.2 Driving Factors for Market Growth
- 4.2.3 Factors Challenging the Market
- 4.2.4 Application
- 4.2.5 Product
- 4.2.6 North America: Country Level Analysis
- 4.2.6.1 U.S.
- 4.2.6.1.1 Market by Application
- 4.2.6.1.2 Market by Product
- 4.2.6.2 Canada
- 4.2.6.2.1 Market by Application
- 4.2.6.2.2 Market by Product
- 4.2.6.3 Mexico
- 4.2.6.3.1 Market by Application
- 4.2.6.3.2 Market by Product
- 4.3 Europe
- 4.3.1 Regional Overview
- 4.3.2 Driving Factors for Market Growth
- 4.3.3 Factors Challenging the Market
- 4.3.4 Application
- 4.3.5 Product
- 4.3.6 Europe: Country Level Analysis
- 4.3.6.1 U.K.
- 4.3.6.1.1 Market by Application
- 4.3.6.1.2 Market by Product
- 4.3.6.2 Germany
- 4.3.6.2.1 Market by Application
- 4.3.6.2.2 Market by Product
- 4.3.6.3 Italy
- 4.3.6.3.1 Market by Application
- 4.3.6.3.2 Market by Product
- 4.3.6.4 France
- 4.3.6.4.1 Market by Application
- 4.3.6.4.2 Market by Product
- 4.3.6.5 Spain
- 4.3.6.5.1 Market by Application
- 4.3.6.5.2 Market by Product
- 4.3.6.6 Netherlands
- 4.3.6.6.1 Market by Application
- 4.3.6.6.2 Market by Product
- 4.3.6.7 Rest-of-Europe
- 4.3.6.7.1 Market by Application
- 4.3.6.7.2 Market by Product
- 4.4 Asia-Pacific
- 4.4.1 Regional Overview
- 4.4.2 Driving Factors for Market Growth
- 4.4.3 Factors Challenging the Market
- 4.4.4 Application
- 4.4.5 Product
- 4.4.6 Asia-Pacific: Country Level Analysis
- 4.4.6.1 China
- 4.4.6.1.1 Market by Application
- 4.4.6.1.2 Market by Product
- 4.4.6.2 Japan
- 4.4.6.2.1 Market by Application
- 4.4.6.2.2 Market by Product
- 4.4.6.3 South Korea
- 4.4.6.3.1 Market by Application
- 4.4.6.3.2 Market by Product
- 4.4.6.4 India
- 4.4.6.4.1 Market by Application
- 4.4.6.4.2 Market by Product
- 4.4.6.5 Australia
- 4.4.6.5.1 Market by Application
- 4.4.6.5.2 Market by Product
- 4.4.6.6 Rest-of-Asia-Pacific
- 4.4.6.6.1 Market by Application
- 4.4.6.6.2 Market by Product
- 4.5 Rest-of-the-World
- 4.5.1 Regional Overview
- 4.5.2 Driving Factors for Market Growth
- 4.5.3 Factors Challenging the Market
- 4.5.4 Application
- 4.5.5 Product
- 4.5.6 South America
- 4.5.6.1 Market by Application
- 4.5.6.2 Market by Product
- 4.5.6.2.1 Brazil
- 4.5.6.2.1.1 Market by Application
- 4.5.6.2.1.2 Market by Product
- 4.5.6.2.1 Rest-of-South America
- 4.5.6.2.1.1 Market by Application
- 4.5.6.2.1.2 Market by Product
- 4.5.7 Middle East and Africa
- 4.5.7.1 Market by Application
- 4.5.7.2 Market by Product
- 4.5.7.3 Middle East and Africa: Country Level Analysis
- 4.5.7.3.1 Saudi Arabia
- 4.5.7.3.1.1 Market by Application
- 4.5.7.3.1.2 Market by Product
- 4.5.7.3.2 Rest of Middle East and Africa
- 4.5.7.3.2.1 Market by Application
- 4.5.7.3.2.2 Market by Product
- 5. Companies Profiled
- 5.1 Next Frontiers
- 5.2 Market Share Analysis for 2023
- 5.3 Geographic Assessment
- 5.3.1 Recycling
- 5.3.1.1 Umicore
- 5.3.1.1.1 Overview
- 5.3.1.1.2 Top Products/Product Portfolio
- 5.3.1.1.3 Target Customers
- 5.3.1.1.4 Key Personnel
- 5.3.1.1.5 Analyst View
- 5.3.1.1.6 Market Share
- 5.3.1.2 Sims Metal Management
- 5.3.1.2.1 Overview
- 5.3.1.2.2 Top Products/Product Portfolio
- 5.3.1.2.3 Target Customers
- 5.3.1.2.4 Key Personnel
- 5.3.1.2.5 Analyst View
- 5.3.1.2.6 Market Share
- 5.3.2 Remanufacturing
- 5.3.2.1 ZF Friedrichshafen AG
- 5.3.2.1.1 Overview
- 5.3.2.1.2 Top Products/Product Portfolio
- 5.3.2.1.3 Target Customers
- 5.3.2.1.4 Key Personnel
- 5.3.2.1.5 Analyst View
- 5.3.2.1.6 Market Share
- 5.3.2.2 BorgWarner
- 5.3.2.2.1 Overview
- 5.3.2.2.2 Top Products/Product Portfolio
- 5.3.2.2.3 Target Customers
- 5.3.2.2.4 Key Personnel
- 5.3.2.2.5 Analyst View
- 5.3.2.2.6 Market Share
- 5.3.3 Refurbishment
- 5.3.3.1 LKQ Corporation
- 5.3.3.1.1 Overview
- 5.3.3.1.2 Top Products/Product Portfolio
- 5.3.3.1.3 Target Customers
- 5.3.3.1.4 Key Personnel
- 5.3.3.1.5 Analyst View
- 5.3.3.1.6 Market Share
- 5.3.3.2 Valeo
- 5.3.3.2.1 Overview
- 5.3.3.2.2 Top Products/Product Portfolio
- 5.3.3.2.3 Target Customers
- 5.3.3.2.4 Key Personnel
- 5.3.3.2.5 Analyst View
- 5.3.3.2.6 Market Share
- 5.3.4 Reuse
- 5.3.4.1 Copart
- 5.3.4.1.1 Overview
- 5.3.4.1.2 Top Products/Product Portfolio
- 5.3.4.1.3 Target Customers
- 5.3.4.1.4 Key Personnel
- 5.3.4.1.5 Analyst View
- 5.3.4.1.6 Market Share
- 5.3.4.2 IAA (Insurance Auto Auctions)
- 5.3.4.2.1 Overview
- 5.3.4.2.2 Top Products/Product Portfolio
- 5.3.4.2.3 Target Customers
- 5.3.4.2.4 Key Personnel
- 5.3.4.2.5 Analyst View
- 5.3.4.2.6 Market Share
- 5.3.5 Integrated Circular Economy Solutions
- 5.3.5.1 Renault Group
- 5.3.5.1.1 Overview
- 5.3.5.1.2 Top Products/Product Portfolio
- 5.3.5.1.3 Target Customers
- 5.3.5.1.4 Key Personnel
- 5.3.5.1.5 Analyst View
- 5.3.5.1.6 Market Share
- 5.3.5.2 BMW Group
- 5.3.5.2.1 Overview
- 5.3.5.2.2 Top Products/Product Portfolio
- 5.3.5.2.3 Target Customers
- 5.3.5.2.4 Key Personnel
- 5.3.5.2.5 Analyst View
- 5.3.5.2.6 Market Share
- 5.3.5.3 Toyota Motor Corporation
- 5.3.5.3.1 Overview
- 5.3.5.3.2 Top Products/Product Portfolio
- 5.3.5.3.3 Target Customers
- 5.3.5.3.4 Key Personnel
- 5.3.5.3.5 Analyst View
- 5.3.5.3.6 Market Share
- 5.3.6 Technology Providers
- 5.3.6.1 Redwood Materials
- 5.3.6.1.1 Overview
- 5.3.6.1.2 Top Products/Product Portfolio
- 5.3.6.1.3 Target Customers
- 5.3.6.1.4 Key Personnel
- 5.3.6.1.5 Analyst View
- 5.3.6.1.6 Market Share
- 5.3.6.2 Aptiv PLC
- 5.3.6.2.1 Overview
- 5.3.6.2.2 Top Products/Product Portfolio
- 5.3.6.2.3 Target Customers
- 5.3.6.2.4 Key Personnel
- 5.3.6.2.5 Analyst View
- 5.3.6.2.6 Market Share
- 5.3.7 Parts and Components Suppliers
- 5.3.7.1 Bosch
- 5.3.7.1.1 Overview
- 5.3.7.1.2 Top Products/Product Portfolio
- 5.3.7.1.3 Target Customers
- 5.3.7.1.4 Key Personnel
- 5.3.7.1.5 Analyst View
- 5.3.7.1.6 Market Share
- 5.3.7.2 Marelli
- 5.3.7.2.1 Overview
- 5.3.7.2.2 Top Products/Product Portfolio
- 5.3.7.2.3 Target Customers
- 5.3.7.2.4 Key Personnel
- 5.3.7.2.5 Analyst View
- 5.3.7.2.6 Market Share
- 5.3.7.3 Other Key Companies
- Note: The list of companies is tentative and may change during the course of the research study.
- 6. Research Methodology
- 6.1 Primary Sources
- 6.2 Secondary Sources
- 6.3 Market Estimation and Forecast
- 6.3.1 Factors and Assumptions for Data Prediction, Modelling, and Triangulation
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