The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Powder Metallurgy Parts Global Market Report 2024 offers crucial insights into the powder metallurgy parts market help businesses analyse and build stronger strategies.

• Market Overview: The powder metallurgy parts market has witnessed significant growth in recent years, reaching $24.9 billion in 2023, with a projected CAGR of 7.0%.
• Factors Driving Growth:
  • Automotive Industry Demand: Powder metallurgy parts are extensively used in the automotive sector, contributing to market growth.
  • Cost-Effective Manufacturing: Manufacturers are turning to powder metallurgy for its cost-effective production methods.
  • Metal Powder Innovations: Ongoing innovations in metal powders are expanding the market’s potential.
  • Environmental Sustainability: Powder metallurgy offers environmentally sustainable manufacturing solutions, boosting its adoption.
  • Expansion of End-Use Industries: Various industries are increasingly adopting powder metallurgy parts, further fueling market growth.
• Projected Growth: The market is expected to continue its upward trajectory, reaching $26.65 billion in 2024 and further expanding to $33.91 billion by 2028, with a CAGR of 6.2%.
• Impact of Electric Vehicles: The surge in electric vehicle demand is a significant driver of market growth. Powder metallurgy parts find extensive use in electric vehicle components, such as soft magnetic parts for electric motors.
• Industry Insights: According to the International Energy Agency, electric car sales doubled in 2021, reaching a record high of 6.6 million units. This surge in electric vehicle adoption directly contributes to the growth of the powder metallurgy parts market.
• Key Players: Major companies in the market include Sumitomo Electric Industries Ltd., Allegheny Technologies Inc., AMETEK Inc., and others.

Read The Full Powder Metallurgy Parts Market Report Here:
https://www.thebusinessresearchcompany.com/report/powder-metallurgy-parts-global-market-report

Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers

• Embracing Innovation: The market is witnessing a trend towards product innovation, with companies focusing on developing new technological solutions to enhance their offerings.
• Example of Innovation: Desktop Metal’s launch of Studio System 2 in February 2021 showcases this trend. The system offers a simplified metal 3D printing technique for producing powder metallurgy parts, catering to both pre-production and end-use applications.
• Benefits of Innovation: Innovations like Studio System 2 streamline the manufacturing process, eliminating the need for solvent debinders and delivering high-quality sintered powder metallurgy parts.

Powder Metal Goldschmidt Expands Presence In China Through Acquisition Of Yangzhou Leader Powder Metallurgy Co. Ltd.

• Strategic Acquisition: In January 2022, Powder Metal Goldschmidt acquired Yangzhou Leader Powder Metallurgy Co. Ltd., a move aimed at expanding its presence in China and strengthening its product portfolio.
• Market Expansion: The acquisition enables Powder Metal Goldschmidt to combine resources with Yangzhou Leader Powder Metallurgy Co. Ltd., enhancing its capabilities in the dynamic Chinese market.
• Focus on Automotive Industry: Yangzhou Leader Powder Metallurgy Co. Ltd. specializes in manufacturing powder metallurgy products for the automotive sector, aligning with Powder Metal Goldschmidt’s strategic objectives.

Market Segmentation

• Product Segmentation:
  • Ferrous Metals
  • Non-Ferrous Metals
• Fabrication Method:
  • Pressure-Based
  • Sinter-Based
  • Hybrid
• Application Areas:
  • Industrial
  • Automotive
  • Healthcare
  • Electrical And Electronics
  • Other Applications

Regional Insights

• Dominance of North America: In 2023, North America emerged as the largest region in the powder metallurgy parts market, reflecting the region’s significant contribution to market growth.

In conclusion, the powder metallurgy parts market is witnessing robust growth driven by factors such as the surge in electric vehicle demand, product innovations, and strategic expansions. With continuous advancements and evolving industry trends, the market is poised for further expansion in the coming years.Top of Form

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The Powder Metallurgy Parts Global Market Report 2024  provides a comprehensive outlook of the powder metallurgy parts market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The powder metallurgy parts market forecast offers a thorough analysis on powder metallurgy parts market size, powder metallurgy parts market share, prominent players and their strategies.

The Table Of Content For The Powder Metallurgy Parts Market Include:
1. Powder Metallurgy Parts Market Executive Summary
2. Powder Metallurgy Parts Market Segments
3. Powder Metallurgy Parts Market Size And Powder Metallurgy Parts Market Growth Rate
4. Key Powder Metallurgy Parts Market Trends
5. Major Powder Metallurgy Parts Market Drivers
……
25. Key Mergers And Acquisitions In The Powder Metallurgy Parts Market
26. Top Powder Metallurgy Parts Companies
27. Powder Metallurgy Parts Market Opportunities And Strategies
28. Powder Metallurgy Parts Market, Conclusions And Recommendations
29. Appendix

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