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Military Actuators Market Report: Growth Factors, Competitive Landscape, and Future Prospects
Metal Injection Molding Market Trends
As per the report, the metal injection molding market size has grown rapidly in recent years. It will grow from $3.97 billion in 2023 to $4.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The metal injection molding market size is expected to see strong growth in the next few years. It will grow to $6.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
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Surging Automotive Industry Demand Drives Growth In Metal Injection Molding Market
Rising demand from the automotive industry is expected to propel the growth of the metal injection molding market going forward. An automotive industry refers to an industry that comprises businesses involved in the manufacture, distribution, retail, and upkeep of automobiles. Metal injection molded parts are now largely used by the automotive industry for engines, gearboxes, turbochargers, locking mechanisms, steering systems, and electrical systems. These are employed to produce high-strength, high-complexity parts. For instance, in March 2022, according to a report published by the European Automobile Manufacturers' Association (ACEA), sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Therefore, rising demand from the automotive industry is driving the growth of the metal injection molding market.
Innovative Product Offerings Drive Metal Injection Molding Market Trends
Product innovations are the key trends gaining popularity in the metal injection molding market. Major companies operating in the metal injection molding market are adopting new technologies to sustain their position in the market. For instance, in September 2021, The ExOne Company, a US-based provider of 3D printing machines, launched X1 Tooling, the world's broadest portfolio of industrial-grade 3D-printed tooling solutions. To address supply chain issues, this portfolio was developed for producers searching for quick, inexpensive, and local tooling solutions. For metal production, the company has launched X1 SandCast, X1 MetalTool, and X1 DieMold. Additionally, end-of-arm tooling and tough perishable or consumable cutting tools in a variety of metals, including tool steels, can be 3D printed using the X1 MetalTool.
The metal injection molding market covered in this report is segmented -
1) By Material: Stainless Steel, Low Alloy Steel, Soft Magnetic Material, Other Materials
2) By Machine Type: Hydraulic, Electric, Hybrid
3) By End-user: Electrical And Electronics, Automotive, Consumer, Industrial, Other End-Users
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Major companies operating in the metal injection molding market report are Molex LLC, Indo-Mim Private Limited, CMG Technologies Ltd., GKN Ltd., Smith Metal Products, ASH Industries Inc., Rockleigh Industries Inc., Schunk Sintermetalltechnik GmbH, Sandvik AB, Tekna Manufacturing Private Limited, PSM Industries Inc., Advanced Powder Products Inc., Alpha Precision Group, Epson Atmix Corporation, Hitachi Metals Ltd., 3A Composites, Shanghai FUTURE HIGH-TECH Co. Ltd., Advanced Forming Technology, Ametek Specialty Metal Products, Parmatech Corporation, WTM SOLUTIONS, MOKO Technology, Kinetics Clima*x Inc., Phillips-Medisize LLC, FloMet LLC, Advanced Technology & Materials Co. Ltd., Nbtm New Materials Group, Jiangsu Gian Technology Co. Ltd., Shenzhen Zhucheng Science & Technology Co. Ltd., MDM Metal Industrial Co.Ltd.
Contents of the report:
1. Executive Summary
2. Metal Injection Molding Market Report Structure
3. Metal Injection Molding Market Trends And Strategies
4. Metal Injection Molding Market - Macro Economic Scenario
5. Metal Injection Molding Market Size And Growth
…..
27. Metal Injection Molding Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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