To enable a truly circular economy in product engineering, the development of products in generations must be considered. Thus, we strive to enable a forward-looking circularity approach, proposing the integration of system generation engineering (SGE) with circular economy principles. By analysing the qualitative interrelations among product generations driven by distinct value preservation strategies on various value creation tiers ("R-strategies"), we extend prior SGE research to advance model theory and support practical application of circular product engineering.