Automotive Parts Remanufacturing in Europe Will Bring in US$ 21.4 Bn by 2024-end, PMR Forecast

European Council's stringent laws will continue curbing the rate at which worn-out car parts are discarded and dumped in the environment. Measures as such are reinforcing the growth of remanufacturing business across the region which is known for its significant contribution to the global automobile industry. Besides, buying new parts is losing its feasibility in Europe owing to volatile prices of raw materials and fragmented presence of OEMs. Thus, reprocessing and testing core components of cars continues to gain traction across Europe, solidifying the growth of its automotive parts remanufacturing market. Persistence Market Research recently valued the automotive parts remanufacturing market in Europe at US$ 12,152 Mn, and expected it to reach US$ 21,433.2 Mn by the end of 2024. 


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