US Engine Remanufacturing Market, by Manufacturer Type,

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.