Remanufacturing of automobile parts refers to the batch use of used automobile parts and the professional transformation and repair so that they have the same specifications and quality as new products. Generally speaking, compared with new products, remanufacturing parts can save costs by 50%, save energy by 60%, save materials by 70%, and reduce emissions of air pollutants by more than 80%. Car remanufacturing is not a refurbishment and repair, but an important way to extend the life of a product. The quality and after-sales service of some remanufactured auto parts can meet the standards of new products, but the end price is about half of the new products.
In recent years, China's automobile industry is transforming from manufacturing to the aftermarket and service industry. As of the end of 2018, China's car ownership has reached 240 million, and the aftermarket output value exceeds 1 trillion. China has more than 2,000 companies with a remanufacturing industry foundation. In addition, it is estimated that in 2018, 100,000 engines will be remanufactured, 200,000 automatic transmissions, and 20 million steering gears. The entire auto parts remanufacturing industry's transaction value may exceed 30 billion yuan.
An important factor that determines the level of auto parts remanufacturing is the service life of cars and parts. The average car age in Europe is 9 years, and the United States 10 to 12 years. European and American parts remanufacturing accounts for 50% of the automotive aftermarket. . In contrast, China ’s average car age is 4.5 years and its remanufacturing share is only 2% to 3%. With a vehicle age of more than 5 years, the huge gap between China and European and American countries in this field is the blue ocean opportunity for China's auto remanufacturing industry.
With the increase of China's automobile ownership and the growth of vehicle age, the remanufacturing of China's auto parts or components will create a new huge market. In the next 5 years, China's auto parts remanufacturing industry will enter a stage of rapid development. It is estimated that the market demand for products will reach 200 billion by 2025. According to the data predicted by the China Petrochemical Research Institute, China ’s car ownership will reach a peak of 495 million in 2035; according to global post-market statistics released by McKinsey, China ’s auto after-market will remain at 10% in 2019-2035 The growth rate of ~ 15% is expected to reach about 4.4 trillion yuan by 2035. The automotive remanufacturing industry has huge market space and is expected in the future.
TEL: +86 755 28213680
FAX: +86 755 89215110
Address: Building 22, Dayun Software Town, Longgang District, Shenzhen, China