Pro
Equipment & Machinery
US Engine Remanufacturing Market, by Class
| Label | OEM | Third Party |
|---|---|---|
| 2017 | 551.2 USD Mn | 855.8 USD Mn |
| 2018 | 565.3 USD Mn | 892.1 USD Mn |
| 2019 | 531.5 USD Mn | 852.7 USD Mn |
| 2020 | 306.2 USD Mn | 499.6 USD Mn |
| 2021 | 357.1 USD Mn | 592.7 USD Mn |
| 2022 | 396.3 USD Mn | 669.5 USD Mn |
| 2023 | 456.3 USD Mn | 784.6 USD Mn |
| 2024 | 534.6 USD Mn | 936.3 USD Mn |
| 2025 | 610.4 USD Mn | 1089.1 USD Mn |
| 2026 | 693.1 USD Mn | 1260.3 USD Mn |
Data Source: Wantstats Repository
Market Dynamics
The demand for engine remanufacturing in the United States is expected to increase significantly in the coming years. This is due to various factors such as the increasing number of older vehicles on the road, rising concerns about sustainability and environmental impact, and the rising cost of new engines. As a result, the US engine remanufacturing market is projected to witness a steady growth from 2017 to 2026.
One of the key drivers for the demand for engine remanufacturing in the US is the growing number of older vehicles on the road. According to a report by IHS Markit, in 2017, the average age of light vehicles (cars and light trucks) in the US was 11.4 years, and it is expected to increase to 12.4 years by 2026. With the increasing age of vehicles, the need for engine remanufacturing is also expected to rise as older engines are more likely to fail or require repairs.
Moreover, the growing concerns about sustainability and environmental impact have also led to an increase in demand for engine remanufacturing. Remanufacturing is a process where worn-out parts of an engine are replaced with new or reconditioned parts, making it a more environmentally friendly option compared to producing a new engine. This trend is particularly prevalent among eco-conscious consumers and companies, which is expected to drive the demand for engine remanufacturing in the US market.
In terms of manufacturer type, the US engine remanufacturing market can be segmented into Original Equipment Manufacturers (OEMs) and Independent Remanufacturers. OEMs are companies that manufacture engines for specific vehicle brands, while independent remanufacturers are companies that specialize in remanufacturing engines for various vehicle brands. The market is expected to witness a significant demand for both types of manufacturers during the forecast period.
OEMs are expected to maintain a dominant market share due to their established reputation and trust within the automotive industry. They often have access to original parts and equipment, which instills confidence in consumers and vehicle manufacturers. On the other hand, independent remanufacturers are expected to witness a higher growth rate due to their ability to cater to a wider range of vehicle brands and models, providing them with a larger customer base.
In conclusion, the demand for engine remanufacturing in the US is expected to witness substantial growth in the coming years. Factors such as the increasing number of older vehicles, concerns about sustainability, and the presence of both OEMs and independent remanufacturers are expected to drive the market in a positive direction.
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This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.