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Powder Metallurgy Parts Market: Strong Growth Driven by Automotive Industry Demand and Rise in Electric Vehicle Production
Powder Metallurgy Parts Market Share
Exploring the Global Powder Metallurgy Parts Market Size, Growth Rate, Key Players, and Trends
What Is The Projected Market Size Of The Global Powder Metallurgy Parts Market And Its Growth Rate?
• The powder metallurgy parts market size has witnessed consistent growth in recent years.
• From $26.94 billion in 2024, it is projected to grow to $28.97 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%.
• This substantial growth can be attributed to factors such as demand from the automotive industry, innovative metal powder technologies, cost-effective manufacturing processes, environmental sustainability, and the expansion of end-use industries.
• Moreover, the powder metallurgy parts market size is expected to further expand, reaching $36 billion in 2029 at a CAGR of 5.6% due to the growth of the electric vehicles market, increased aerospace applications, demand for lightweight materials, and rising usage in the healthcare industry.
What Is Driving The Growth In The Powder Metallurgy Parts Market?
The expansion of the global electric vehicle market is a significant factor propelling the powder metallurgy parts market. Electric vehicles, powered either partially or fully by electricity, utilize powder metallurgy parts such as soft magnetic components in their electric motors, eliminating the risk of laminations. A surge in the electric vehicle market will subsequently fuel the demand in the powder metallurgy parts industry. For instance, according to International Energy Agency, over 10 million electric cars were sold worldwide in 2022, with sales expected to increase by 35% in 2023, totaling around 14 million vehicles. This increasing demand for electric vehicles is a key driving force in the growth of the powder metallurgy parts market.
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Who Are the Key Players Driving Powder Metallurgy Parts Market Growth?
• Sumitomo Electric Industries Ltd.
• Allegheny Technologies Inc.
• AMETEK Inc.
• Carpenter Technology Corporation
• Daido Steel Co. Ltd.
• Diamet Corporation
• DOWA Electronics Materials Co. Ltd.
• Eramet SA
• H C Starck GmbH
• Hitachi Chemical Co. Ltd.
• JFE Steel Corporation
• Kennametal Inc.
• Miba AG
• PMG Holding GmbH
• Rio Tinto Metal Powders
• Allied Sinterings Inc.
• American Sintered Technologies
• AMES Reese Inc.
• Atlas Pressed Metals
• Baxter Machine & Tool Co.
• Burgess-Norton Manufacturing Co.
• Catalus Corporation
• Cloyes Gear & Products Inc.
• Compax Inc.
• Engineered Sintered Components Company
• fine-sinter Co. Ltd.
• FMS Corporation
• GKN Sinter Metals
• Gorham Inc.
• Hittco Tools Limited
• Hoeganaes Corporation
• Horizon Technology
• Keystone Powdered Metal Company
• Liberty Pressed Metals LLC
• Melrose Industries PLC
• Metal Powder Products Company
• Metaldyne Performance Group
• Metco Industries Inc.
• NetShape Technologies Inc.
What Are The Key Trends In The Powder Metallurgy Parts Market?
• Usage of tungsten alloys
• Stricter quality standards and certification
• Challenges in the global supply chain
• Collaborative research and development
• Rise in electric vehicle production
What Are The Segments Of The Global Powder Metallurgy Parts Market?
• By Product: Ferrous Metals, Non-Ferrous Metals
• By Fabrication Method: Pressure-Based, Sinter-Based, Hybrid
• By Application: Industrial, Automotive, Healthcare, Electrical And Electronics, Other Applications
Which Region Leads The Powder Metallurgy Parts Market?
North America led the global powder metallurgy parts market in 2024. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Powder Metallurgy Parts Market Global Market Report?
- Market Size Analysis: Analyze the Powder Metallurgy Parts Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Powder Metallurgy Parts Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Powder Metallurgy Parts Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Powder Metallurgy Parts Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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