Albany, NY -- (SBWIRE) -- 02/05/2019 -- ResearchMoz.us has announced the addition of a report, titled "Powder Metallurgy Components Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018–2026". The report on the powder metallurgy components market presents elaborate insights on the key growth dynamics, lucrative industrial avenues, emerging frontiers, key regional trends, and the overall competitive landscape.
The global powder metallurgy components market is expected to rise at promising single-digit CAGR during 2018–2026. Rising use of powder metallurgy technology in a wide variety of metal-based automotive components is a key factor driving the market. The extensive demand is attributed to the cost-effectiveness of powder metallurgy over other technologies in manufacturing vital automotive components including transmission parts, oil pumps, chassis components, and exhaust systems. Owing to low energy requirements, the cost savings can be as high as 40%. The use of powder metallurgy components in vehicles also brings several attractive benefits such as increased fuel efficiency.
The rising demand for powder metal components in the industrial segment, world over, is a key factor propelling the growth of the global powder metallurgy components market. This is attributed to the rising applications of these components in electric motors and small sintered parts used in vehicles. Rising use of powder metallurgy components in manufacture of airframes and engine structures, and assemblies.
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Apart from the automotive and aerospace sectors, the growth in the market is also reinforced by its rising use in application areas of electrical, electromagnetic, alternative energy, and medical. Technological advances in the development of powdered metallurgy component for additive manufacturing are expected to create new windows of opportunities to market players during the assessment period. For instance, rising use of powder metallurgy components in manufacturing metal injection moulding is also fueling the market's prospects. However, growing complexity in manufacturing 3D shapes is a substantial challenge for market players.
The various regional markets for powder metallurgy components can be grouped into Latin America, the Middle East and Africa, North America, Europe, and Asia Pacific. Of these, North America is expected to account for the most attractive share, with several lucrative avenues present in the U.S. Rising demand for power metallurgy in machinery manufacturing, electrical equipment, motor vehicles, and batteries is expected to bolster the prospects of this regional market. However, rapidly rising demand in the automotive sector in countries China, India, and ASEAN is expected to offer constant impetus to the global market. On the other hand, burgeoning demand in the automotive sector, especially in the Asia Pacific, will take the regional market to higher growth trajectory over the assessment period.
Top players are increasingly engaging in mergers and acquisitions with the aim to consolidate their positions in the powder metallurgy components market. Some of the prominent players operating in the global powder metallurgy components market are Carpenter Technology Corporation, SMC Powder Metallurgy, Fine Sinter Company Ltd., Sumitomo Electric Company Ltd., and GKN Hoeganaes.
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