GlobalPowder Metallurgy Components Market was valued at US$ 21.2 Bn in 2019, andis expected to reach US$ 35.88 Bn by 2027, at a CAGR of 6.8 % during forecastperiod.
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The objective of the report is to present a comprehensiveassessment of the market and contains thoughtful insights, facts, historicaldata, industry-validated market data and projections with a suitable set ofassumptions and methodology. The report also helps in understanding PowderMetallurgy Components market dynamics, structure by identifying and analyzingthe market segments and project the global market size. Further, report alsofocuses on competitive analysis of key players by product, price, financialposition, product portfolio, growth strategies, and regional presence. Thereport also provides PEST analysis, PORTER’s analysis, SWOT analysis to addressquestions of shareholders to prioritizing the efforts and investment in nearfuture to emerging segment in Powder Metallurgy Components market.
The report study has analyzed revenue impact of covid-19pandemic on the sales revenue of market leaders, market followers anddisrupters in the report and same is reflected in our analysis.
Efficient consistent, powder metallurgy is a value-addedengineering process that provides a host of advantages over challenging metalforming technology. The wide use of powder metallurgy components for automotiveproduction attribute to emerging technologies in this sector will grow themarket at a significant rate during the forecast period.
Based on the product, the ferrous metal segment dominatesthe powder metallurgy components market over the worldwide. Ferrous metals arefurther segmented into iron and steel components. These both metals haveFerrous metals is further segmented into iron and steel components. These bothmetals exhibit excellent mechanical properties. Because of these properties,ferrous metals powder is widely used in the number of applications such asmagnetic assemblies, filtration systems, structural parts, sharpgemstone-grinding blades, and auto metal components is boosting the ferroussegment.
The non-ferrous segment is further categorized intoaluminum, copper, tungsten, and molybdenum. Non-ferrous metal components havinghigh thermal, and electrical conductivity, high corrosion resistance, goodmachinability and good mechanical and fatigue properties. These components showexcellent compressibility due to lower sintering temperature compared toferrous based powder metallurgy components. Increasing mechanical andautomobile companies and rise in the disposal of income, especially in mostpopulous countries such as India and China, are likely to drive the powdermetallurgy components in the next few years.
Based on the application, powder metallurgy components arewidely used in the automotive sector for the engine such as variable valvetiming (VVT) systems and oil pump. Further, it is used as a transmissionapplication for synchronizer and oil-bearing are boosting demand of the globalpowder metallurgy components in the automotive sector. Demand for powdermetallurgy components from the industrial segment is also high and it will alsodrive the global powder metallurgy components market in near future. Powdermetallurgy components are widely used in telecommunication equipment’s,computers, home appliances, lawn and garden equipment, road equipment, powerand hand tools, sporting goods, and firearms in the industrial segment.
Rapidly increasing industrialization across the globe is thefactor that drives the industrial segment of the powder metallurgy componentsmarket during the forecast period. In aerospace industry powder metallurgycomponents are used for the manufacture of precision components such as gearing,gearboxes, small planetary devices. Further, in the medical industry, it isused as a medicine dispensing device that are anticipated to grow the medicaland aerospace segment during the forecast period.
Geographically, North America was the leading consumer ofpowder metallurgy components in 2017. The growth in automobile and electricaland electronic industries in the Asia Pacific region will drive the powdermetallurgy components market. Growth in research activities, the rise in GDP,an increase in investment in electric vehicles is estimated to boost the marketin the Asia Pacific in the near future.
The U.S is projected to contribute significantly to thepowder metallurgy components market in North America, owing to Rising inconsumer interest in electric vehicles and fuel efficiency of vehicles areencouraging manufacturers to design lightweight components. Further, Europe isalso a prominent region of the global powder metallurgy components market.Increase in focus on pollution and development of lightweight automotive partsdriving the market in Europe.
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Global Powder Metallurgy Components Market, by Product
• Ferrous Metals
• Non-ferrous Metals
Global Powder Metallurgy Components Market, by Application
Global Powder Metallurgy Components Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Global Powder Metallurgy ComponentsMarket:
• GKN Hoeganaes
• Sumitomo Electric Company Ltd
• American Axle & Manufacturing Holdings, Inc.
• Miba AG
• Hitachi Chemical Company Ltd
• Fine Sinter Co Ltd
• SHW AG
• Stackpole International Inc
• Arcam AB
• Carpenter Technology Corp.
• Schunk Group
• Porite Group
• H.C. Starck
• SMC Powder Metallurgy
• Metaldyne Performance
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