The research study conducted by Report Ocean on the “ Sintered Steel Market ” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Global Sintered Steel Market is valued approximately at USD 23.5 billion in 2022 and is anticipated to grow with a growth rate of more than 3.9% over the forecast period 2023-2030. Sintered steel refers to a specialized metal manufacturing process that involves compacting metal powders under high pressure and then subjecting them to controlled heat to fuse the particles together, resulting in a solid and durable material. This process eliminates the need for traditional machining or casting methods and enables the production of complex shapes and precise components with excellent strength, dimensional accuracy, and cost-effectiveness. Sintered steel finds application in various industries, including automotive, aerospace, industrial machinery, and electrical appliances, where it offers lightweight properties, enhanced structural integrity, and the ability to meet specific performance requirements. The driving factors boosting the market growth are growing automotive industry and growing construction and infrastructure projects.
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According to Statista, in 2021, the global market for automotive manufacturing was estimated to be worth USD 2.86 trillion. In 2022, the market is anticipated to increase to over USD 2.95 trillion. Moreover, growing demand for electric vehicles (EVs) and technological advancement in powder metallurgy may create lucrative opportunities for the market growth. However, the high production costs and limited design flexibility stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Sintered Steel Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share due to the rising demand for lightweight materials, high-quality and precision parts in the automotive & aerospace industries. However, Asia Pacific region is expected to be the fastest growing region during the forecast period, owing to factors such as increasing disposable income, rapid industrialization and urbanization, and increasing consumption of sintered steel in various end-use industries.
Major market player included in this report are:
Sumitomo Electric Industries Limited
GKN Powder Metallurgy
Samvardhana Motherson Group
The Miba Group
ASCO Sintering Co.
Schunk Sinter Metals
AMES Sintering Metallic Components
Sintercom India Ltd.
Changsha Hualiu Metal Powders Ltd
United States Metal Powders
Recent Developments in the Market:
In May 2023, Sumitomo Electric Industries, Ltd. Collaborated with the National Institute of Information and Communications Technology (NICT) and achieved a significant development in optical fiber technology.
In March 2023, Sumitomo Electric Industries Ltd. and US Cone Ltd. have signed a legally binding licence agreement that will enable Sumitomo Electric Lightwave Corp. to manufacture MMC connector and TMT ferrule components for use in the deployment of next-generation, high-density, multi-fiber cable solutions.
Global Sintered Steel Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Steel Type, Process, Application, End Use Industry, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below.
By Steel Type:
Stainless Steel
Carbon Steel
Alloy Steel
Tool Steel
By Process:
Metal Injection Molding (Mim)
Additive Manufacturing (Am)
Conventional Manufacturing
Powder Forged Manufacturing
By Application:
Engines
Transmissions
Bodies
Chassis
Drivetrains
Electric Appliances
Others
By End Use Industry:
Transportation
Electrical
Industrial
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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