Automotive Parts Remanufacturing Market is driven by reduced total cost of ownership

The automotive parts remanufacturing market involves rebuilding automotive parts to similar specifications of new parts using reused, repaired, and remachined cores. Remanufactured automotive parts are completely disassembled, cleaned, inspected, replaced or repaired as needed using new or genuine OEM parts, and then tested to meet stringent performance standards.

The Global Automotive Parts Remanufacturing Market is estimated to be valued at US$ 118.2 Bn by 2030 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2031.

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