What is Vehicle Recycling Market?
Vehicle recycling is the disassembly of spare parts is referred to as vehicle recycling. Vehicles have significance as a source of replacement components as they reach the end of their useful life, which has led to the development of the car dismantling business. Auto wrecking yard, auto dismantling yard, automotive spare parts supplier, and, more recently, auto or vehicle recycling are some of the titles given to the industry's business outlets. Vehicle recycling has long been a part of the process, but manufacturers have just recently become involved. A car crusher is commonly used to decrease the size of a discarded automobile so that it can be transported to a steel mill.
|Unit||Value (USD Million)|
|Key Companies Profiled||ALBA Group (Germany), Autorecycling Kempers GmbH (Germany), Lear Automotive (United States), Advance Auto Parts (United States), LKQ Corp (United States), Toyota (Japan), KEIAISHA (Thailand), Pick-n-Pull (United States), GEM (India) and Miracle Automation Engineering (China)|
The market study is being classified by Type (Passenger Cars Recycling and Commercial Vehicles Recycling), by Application (OEM’s, Aftermarket and Other) and major geographies with country level break-up..
ALBA Group (Germany), Autorecycling Kempers GmbH (Germany), Lear Automotive (United States), Advance Auto Parts (United States), LKQ Corp (United States), Toyota (Japan), KEIAISHA (Thailand), Pick-n-Pull (United States), GEM (India) and Miracle Automation Engineering (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are ABC Auto Parts (Longview), Aesop Auto Parts (India) and Others.
Vehicle recycling competitive landscape of the car recycling industry, including extensive profiles of the market's major participants. The rising sale of Automobiles around the world, and thus increasing the number of accidents has led to several governments raising the stringent regulations regarding airbags and other passenger safety norms. This indirectly has benefited the market of the airbag fabrics manufacturers. Automotive companies are even researching new fabrics and yarns for enhanced safety of passengers. Geographically, the Asia Pacific and North America are the largest markets of the airbag fabrics Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Vehicle Recycling market throughout the forecasted period.
Analyst at AMA have segmented the market study of Global Vehicle Recycling market by Type, Application and Region.
On the basis of geography, the market of Vehicle Recycling has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Vehicle Recycling Growing Demand Downstream
- Vehicle Recycling Growth-Inducing Component Is Fuel-Efficient Automobiles
- Process of Deconstructing Automobiles In Order To Recover and Recycle Spare Parts and Fuel
- Vehicle recycling business in the United States and Canada produces enough steel to make nearly 13 million new cars
- Toxic Gases Such As Carbon Dioxide and Carbon Monoxide Are Emitted
- Automobile Recyclers Employ Advanced Tools and Techniques
- Vehicle Recycling Demand for Hybrid and Electric Vehicles
- Sell Their Junk Cars on Craigslist, eBay, And Directly To Scrap Yards and Car Dealers
- Obtaining ELVs Is the Task of a Well-Organized Recycling
- Stable Supply of Recycling Vehicles, an Organised Recycler Must First Dominate the Unorganised Market
Market Leaders and some development strategies
On 23rd November 2021, vehicle scrapping and recycling units of Maruti Suzuki and Toyota Tsusho Group started operations in India. End-of-Life Vehicles (ELVs) scrapping and recycling units allowed by the government are scientific and environmentally friendly. Maruti Suzuki Toyotsu India Private Limited (MSTI) is a Maruti Suzuki-Toyotsu group joint venture. End-to-end solution for consumers to safely and environmentally dispose of ELVs
On 19th November 2021, Consumers in all industries are increasingly concerned about business views on climate change and sustainability. It Matters To You, a Melbourne-based auto recycling firm that specializes in car removal, shares consumers' concerns and is working to start a sustainability movement in the industry. They want to see long-term, constructive reforms in Australia's automobile industry
Vehicle Scrappage Policy, which went into effect on August 13, 2021, is a government-funded initiative to replace obsolete automobiles on Indian roads with modern and new vehicles. The initiative is expected to reduce pollution, create jobs, and increase demand for new automobiles. Vehicle scrappage policies have been implemented in several nations, including the United States, Germany, Canada, and China, in order to strengthen their respective automotive sectors and reduce vehicular pollution. Large automakers, such as Mahindra & Mahindra, Maruti Suzuki, Toyota, and others, are embracing this idea by launching scrappage centers. This regulation also contributes to India's "Green India" initiative by making room for a cleaner fleet of automobiles.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Vehicle Recycling Distribution and Supplier, New Entrants and Investors, Vehicle Recycling Manufactures, Government Bodies, End-Users and Others
Frequently Asked Questions (FAQ):1. Which factors would majorly drive the Vehicle Recycling Market?
"Vehicle Recycling Growing Demand Downstream
" is seen as one of major growth factors of Vehicle Recycling Market in years to come.2. Can we have customized study for Vehicle Recycling Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.3. Which region will lead the Global Vehicle Recycling Market?
United States will lead Vehicle Recycling Market in coming years.