Powder Metallurgy Components Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2026

Sarasota, FL -- (SBWire) -- 01/30/2019 --Global Powder Metallurgy Components Market: Overview

The process of powder metallurgy is cost-effective in nature, which is used to develop net-shaped, precision metal components. This process helps in manufacturing efficiently designed industrial and consumer products. The demand and popularity of the powder metallurgy components market across the globe can be attributed to the extensive use of powder metallurgy components in 3D printing, additive manufacturing, etc.

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Global Powder Metallurgy Components Market: Growth Factors

The major growth driver of the global powder metallurgy components market in the future is the growing number of applications of powder metallurgy components in various sectors, such as medical, alternative energy, aerospace, etc. Powder metal components help in improving the fuel efficiency of automobiles by reducing exhaust emissions. This, in turn, is likely to boost the demand for powder metal components by the automotive sector, thereby, contributing significantly toward the powder metallurgy components market across the globe in the upcoming years.

However, the fluctuation in the prices of raw materials and the limitations related to finished components' sizes and weights might restrict the market powder metallurgy components on a global scale.

Global Powder Metallurgy Components Market: Segmentation

The global powder metallurgy components market is categorized into product and application. On the basis of product, this global market is bifurcated into non-ferrous metals (aluminum and others) and ferrous metals (steel and iron). Based on application, the powder metallurgy components market includes automotive, industrial, (power tools and others), medical, aerospace, and others (electrical and electronics). The automotive segment is sub-divided into transmission parts (synchronizer, gears, and others), chassis parts (steering components, shock absorbers, and others), and engine parts (crankshaft bearing caps, sprockets, gears, pulleys, belt pulleys, VVT, vacuum pumps, water pumps, oil pumps, and others).

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Global Powder Metallurgy Components Market: Regional Analysis

By region, this global market is primarily divided into Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. The North American region held a substantial share of the powder metallurgy components market globally in 2018, due to the rising trend of electric vehicles and increasing emphasis on up-gradation of the transportation system via improving the vehicles' fuel efficiency. The Asia Pacific region is anticipated to show the highest rate of growth in the global market for powder metallurgy components in the years ahead. This can be attributed to the increased automotive production in China, Thailand, Indonesia, and India, due to the implementation of favorable government policies and public-private partnership programs. Furthermore, the rising automotive production and increasing demand for electric vehicles are projected to drive the Asia Pacific powder metallurgy components market in the future. In the European region, the European Union is targeting to reduce greenhouse gas emissions, which is expected to create new growth opportunities for the powder metal components' manufacturers in Europe in the upcoming years. The markets in Latin America and the Middle East and Africa are estimated to grow moderately over the estimated period, owing to heavy reliance and high production cost on import.

Global Powder Metallurgy Components Market: Competitive Players

Some most important market players of the global powder metallurgy components market are PMG Holding, Schunk Group, Porite Group, AMES, Stackpole International, Metaldyne Performance, SMC Powder Metallurgy, Miba, Fine Sinter, Hitachi Chemical, H.C. Starck, Sumitomo Electric, GKN Hoeganaes, and Carpenter Technology, among others.

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Global Powder Metallurgy Components Market: Regional Segment Analysis

North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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