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Yahoo
an hour ago
- Yahoo
Europe Automotive Circular Economy Market Outlook Report to 2034: EU Regulations and Digital Innovations Transform European Automotive Industry - A $100.25 Billion Market by 2034
The European automotive circular economy market, valued at $30.43 billion in 2024, is expected to reach $100.25 billion by 2034, growing at a CAGR of 12.66%. This growth is driven by a shift towards circular economy principles such as recycling, remanufacturing, and reusing, alongside regulatory pressure to cut emissions and boost sustainability. Key trends include digital innovations and the rise of electric vehicles, supported by the EU's Circular Economy Action Plan. Major companies like Umicore and BMW are key players. The market offers significant opportunities for innovation and strategic growth through partnerships and new product launches. European Automotive Circular Economy Market Dublin, July 01, 2025 (GLOBE NEWSWIRE) -- The "Europe Automotive Circular Economy Market: Focus on Application Type, Product Type, and Country - Analysis and Forecast, 2024-2034" report has been added to European automotive circular economy market was valued at $30.43 billion in 2024 and is projected to grow at a CAGR of 12.66%, reaching $100.25 billion by 2034. The market is expanding as a result of Europe's automotive industry's rapid transition to circular economy concepts, which include recycling, remanufacturing, and reusing components and materials. The need for fully recyclable, remanufactured, and refurbished car components is expected to increase as European manufacturers and regulators adopt more resource-efficient and sustainable growth is further supported by increased regulatory pressure to reduce carbon emissions, prolong vehicle lifespans, and optimise production processes. The automotive circular economy market on the continent is expected to grow significantly over the next ten years due to a number of factors, including the development of green technology, the rise in electric vehicles, and the European Union's ambitious circular economy action plan. Europe Automotive Circular Economy Market Trends, Drivers and Challenges Key Market Trends Expansion of closed-loop manufacturing and remanufacturing networks Integration of digital tracking (IoT, digital twins) for lifecycle monitoring Growth of vehicle-as-a-service and subscription models Second-life applications for EV batteries and parts Increased use of bio-based and recyclable materials Market Drivers Stringent EU regulations (Circular Economy Action Plan, End-of-Life Vehicle Directive) Corporate ESG commitments and sustainability targets Rising consumer demand for eco-friendly vehicles and components Cost savings from material recovery and reduced raw-material imports Advances in recycling technologies and automated sorting Market Challenges High capital expenditure for advanced recycling and remanufacturing facilities Supply-chain complexity and inconsistent standards across member states Limited market acceptance and pricing volatility for recycled materials Technical barriers in separating and processing composite and multi-material parts Need for skilled workforce and specialized reverse-logistics infrastructure Report Scope: Product/Innovation Strategy: The European automotive circular economy market is segmented based on various applications, vehicle types, propulsion types, and product categories, providing valuable insights into the industry's shift toward sustainability. The application segmentation includes a focus on vehicle components such as body parts, tires, batteries, and other key elements that are recycled, remanufactured, refurbished, and vehicle type, the market is divided into passenger vehicles and commercial vehicles, with the latter further segmented into light commercial vehicles, trucks, and buses. Propulsion types include internal combustion engine vehicles and electric vehicles, which are sub-categorized into hybrid electric vehicles, plug-in hybrid electric vehicles, and battery electric vehicles. The market is also analyzed by end-user type, including original equipment manufacturers (OEMs), the automotive aftermarket, and the market focuses on product types such as recycled, remanufactured, refurbished, and reused products. Key components in this circular economy include batteries, tires, polymers, body parts, and brakes and suspensions. As the automotive industry seeks to reduce waste and improve resource efficiency, these circular economy practices are becoming integral to achieving sustainability goals and driving growth in the Strategy: Europe's automotive circular economy market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include product Strategy: The key players in the Europe automotive circular economy market analyzed and profiled in the study include professionals with expertise in the automobile and automotive domains. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the of the prominent names in this market are: Umicore ZF Friedrichshafen AG Valeo Renault Group BMW Group Aptiv Bosch GmbH Key Attributes: Report Attribute Details No. of Pages 96 Forecast Period 2024 - 2034 Estimated Market Value (USD) in 2024 $30.43 Billion Forecasted Market Value (USD) by 2034 $100.25 Billion Compound Annual Growth Rate 12.6% Regions Covered Europe Key Topics Covered:1 Markets1.1 Trends: Current and Future Impact Assessment1.1.1 Increasing Focus on Battery Recycling and Second Life Applications1.1.2 Growth of Vehicle Remanufacturing1.2 Supply Chain Overview1.3 Regulatory Landscape1.4 Impact Analysis for Key Global Events1.4.1 Implementation of Stringent Environmental Regulations1.4.2 Global Climate Agreements and ESG Initiatives1.5 Market Dynamics Overview1.5.1 Market Drivers1.5.1.1 Stringent Government Regulations and Policies1.5.1.2 Growing Corporate ESG and Sustainability Commitments1.5.2 Market Restraints1.5.2.1 Complex Supply Chains and Infrastructure Challenges1.5.2.2 Inconsistent Global Regulations1.5.3 Market Opportunities1.5.3.1 Growing EV adoption Creating Substantial Opportunities in Repurposing Batteries1.5.3.2 Expansion of Circular Supply Chains and Partnerships1.6 Investment Landscape1.7 Automotive Circular Economy Market Case Studies1.8 Automotive Circular Economy Overview1.8.1 Need for Circular Economy in the Automotive Industry1.8.2 Sustainability and ESG Goals of Key Automotive Companies1.8.3 Impact of Circular Economy on Various Automotive Lifecycle Stages1.8.4 Impact of Automotive Circular Economy1.8.4.1 Recycled Materials1.8.4.2 Green Steel1.8.4.3 Climate Neutral Vehicles1.8.4.4 Sustainable Manufacturing Plants1.8.4.5 Green Dealerships1.8.4.6 Second-Life Batteries2 Regions2.1 Regional Summary2.2 Europe2.2.1 Regional Overview2.2.2 Driving Factors for Market Growth2.2.3 Factors Challenging the Market2.2.4 Application2.2.5 Product2.2.6 Europe (by Country)2.2.6.1 U.K.2.2.6.2 Germany2.2.6.3 Italy2.2.6.4 France2.2.6.5 Spain2.2.6.6 Netherlands2.2.6.7 Rest-of-Europe3 Markets - Competitive Benchmarking and Company Profiles3.1 Next Frontiers3.2 Geographic Assessment3.3 Recycling Companies3.3.1 Umicore3.4 Remanufacturing3.4.1 ZF Friedrichshafen AG3.4.2 Valeo3.5 Integrated Circular Economy Solutions3.5.1 Renault Group3.5.2 BMW Group3.6 Technology Providers3.6.1 Aptiv.3.7 Parts and Components SuppliersFor more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment European Automotive Circular Economy Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
CBS News
an hour ago
- CBS News
Tesla sales tumble amid Musk backlash and mounting competition
Tesla's U.S. sales slumped in the second quarter as mounting competition and signs of backlash against founder CEO Elon Musk chipped away at the electric vehicle maker's lead in the segment. Vehcle sales fell to 384,122 in April through June, a more than 13% drop from 443,956 in the same period last year. Sales of the company's Models 3 and Y totaled 373,728, above the estimate of 356,000 from Wall Street analysts. The decline comes amid renewed friction between Musk and President Trump this week, with the billionaire entrepreneur blasting the Republican tax and spending bill passed by the Senate on Tuesday. Musk has acknowledged that his work as head of the Department of Government Efficiency and his embrace of European far-right candidates have hurt the company. But he attributed much of the sales plunge to customers holding off while they waited for new versions of Tesla's best selling Model Y, and recently predicted a major turnaround in sales. Tesla sales across Europe plummeted by almost 50% in April even as the broader market for electric cars saw growth in the region, according to data released by the European Automobile Manufacturers' Association in May. At the same time, sales of battery-electric vehicles by all manufacturers rose about 28%, the group's data shows. Despite the sales slump, Wedbush analyst Dan Ives thinks Tesla is well-positioned for future growth, pointing to the company's push into self-driving vehicles. Tesla in June started testing a "robotaxi" service in Austin, Texas, and is investing heavily in autonomous driving technology. "Autonomous remains the biggest transformation to the auto industry in modern day history, and in our view Tesla will own the autonomous market in the U.S. with the initial launch of unsupervised [full self-driving] in Austin," he said in a note to investors. Tesla's stock price rose $13, or 4%, to $309.30 in morning trade on Wednesday.
The Drive
an hour ago
- The Drive
SRT Is Back From the Dead With Ram Boss Tim Kuniskis at the Helm
The latest car news, reviews, and features. Four years ago, as Fiat Chrysler was reformed into Stellantis, it seemed the North American SRT performance division wouldn't make the journey. That didn't stop existing SRT products, like Hellcats and Demons, from continuing to be sold, but it did mark the end of the line for new ones. Stellantis has undergone some serious global changes over the last six months, however, from the departure of former CEO Carlos Tavares to the retirement and return of ex-Dodge, now Ram boss Tim Kuniskis. Today, Stellantis announced that in addition to Ram, Kuniskis will be overseeing all of the North American group's operations. And, as his first order of business, he's bringing SRT back from the dead. Kuniskis formally reintroduced the division in a video posted to YouTube this morning, titled 'SRT Returns.' As the camera dives deep into the bowels of Stellantis' North American headquarters, bearing that familiar Pentastar logo, Kuniskis references SRT's start as the skunkworks group that developed the original Viper, way back in 1989. 'We're getting the band back together,' Kuniskis was quoted in a press release. 'SRT is another box we needed to check as we head into a product launch cadence enabling more performance than we've ever seen before. We're working with our product development and technology organization to select the best engineers in powertrain and vehicle dynamics to build a team worthy of the SRT name.' In the video, Kuniskis does make mention of recruiting efforts, which is interesting as Stellantis previously downplayed the SRT dissolution by saying that the engineers employed by the division weren't leaving the company, but merely being distributed across other teams. You'd have to imagine that SRT's first target will be the new Charger, which has certainly had a challenging debut. The electric muscle car didn't review particularly well out of the gate, and Dodge quietly killed off the entry-level R/T trim, while reportedly refocusing efforts around the Hurricane inline-six-powered versions of the coupe and sedan. Additionally, Kuniskis' return to Ram coincided with the revival of the Hemi V8 in its trucks, and the company has danced around the engine's long-rumored comeback in the Charger. The original 1989 Dodge Viper concept. Stellantis SRT's relaunch should make enthusiasts happy, though, if I have one wish, it's that the division doesn't entirely focus on Chargers with four-digit power figures. The Viper was powerful, sure, but the later ACR variants were renowned for their handling, which earned it a Nurburgring lap record. The Neon SRT-4 was a bastion of accessible performance about 20 years ago, and the Neon already had a reputation as an autocross monster. Chrysler's performance division used to be about more than dominating the drag strip, and I hope SRT remembers that in its next chapter. We never got a fast Dart, which seemed like a missed opportunity; I wouldn't be against a Hornet SRT. What would you like to see the crew whip up? Let us know in the comments. Got a tip? Send us a note: tips@
