LONDON–(BUSINESS WIRE)–The global automotive powder metallurgy components market size is poised to grow by USD 1.06 billion during 2020-2024, progressing at a CAGR of over 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Powder metallurgy is cost-effective compared to other metalworking processes such as forging, extrusion, casting, and machining. It also has a high raw material use of up to 97% and can produce high-volume components such as gears, bearings, and shafts with better accuracy and tolerance compared to other processes. Moreover, powder metallurgy is comparatively a much faster process as it uses a lesser number of steps. Many such benefits have increased the adoption of powder metallurgy techniques across end-user industries such as automotive. This is one of the key factors driving the growth of the global automotive powder metallurgy components market.
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- The major automotive powder metallurgy components market growth came from the engine components segment. This is due to the developments in the field of powertrain, comfort, fuel consumption, emission standards, safety, and convenience of vehicles.
- APAC was the largest market for automotive powder metallurgy components in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the increasing demand for luxury and mid-segment vehicles in the region.
- The global automotive powder metallurgy components market is fragmented. American Axle & Manufacturing Inc., Comtec Mfg. Inc., Fine Sinter Co. Ltd., Hitachi Chemical Co. Ltd., Johnson Electric Holdings Ltd., Melrose Industries PLC, Miba AG, PMG Holding GmbH, Shandong Weida Machinery Co. Ltd., and Sumitomo Electric Industries Ltd. are some of the major market participants. To help clients improve their market position, this automotive powder metallurgy components market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global automotive powder metallurgy components market 2020-2024 is expected to have negative. As the pandemic spreads in some regions and plateaus in other regions, we continue to evaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/automotive-powder-metallurgy-components-market-industry-analysis
Increasing use of titanium and titanium-based alloy powders will be a Key Market Trend
Titanium is stronger, more durable, less dense, and exhibits strong resistance to high temperatures. It also offers greater resistance to corrosion than steel. Such benefits have increased the preference for titanium in the manufacture of automotive powder metallurgy components such as rocker arms in high-performance vehicles. Acura NSX, few Chevrolet Corvette models, and Porsche 911 GT3 are some of the cars that use titanium rocker arms. This trend in the automotive industry will have a positive impact on the growth of the global automotive powder metallurgy components market during the forecast period.
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Automotive Powder Metallurgy Components Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive powder metallurgy components market growth during the next five years
- Estimation of the automotive powder metallurgy components market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive powder metallurgy components market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive powder metallurgy components market vendors
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View market snapshot before purchasing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Component
- Market segments
- Comparison by Component placement
- Engine components – Market size and forecast 2019-2024
- Transmission components – Market size and forecast 2019-2024
- Other components – Market size and forecast 2019-2024
- Market opportunity by Component
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- American Axle & Manufacturing Inc.
- Comtec Mfg. Inc.
- Fine Sinter Co. Ltd.
- Hitachi Chemical Co. Ltd.
- Johnson Electric Holdings Ltd.
- Melrose Industries PLC
- Miba AG
- PMG Holding GmbH
- Shandong weida machinery Co. Ltd.
- Sumitomo Electric Industries Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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