Automotive Powder Metallurgy Market Size, Status and Growth Opportunities by 202

Posted by surendra choudhary on May 21st, 2019

Key players operating in the automotive powder metallurgy market are GKN Sinter Metals Pvt. Ltd., Pricol Limited., SUNDRAM FASTENERS LIMITED, SINTERING SOLUTIONS PVT LTD, and Keystone Powdered Metal Company.

The automotive industry is consistently focusing on the development of light weight vehicles by using innovating material composition and technologies in order to meet stringent emission norms and to meet increasing demand for enhanced fuel-efficiency. Powder metallurgy offers better design flexibility and hence, the automotive industry is aggressively adopting powder metallurgy. Different processing techniques such as pressing, hot isotactic process, metal injection molding, and rapid prototyping are employed to manufacture components.

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Rising demand for light weight vehicles and stringent emission norms set by government bodies have prompted automotive manufacturers to opt powder metallurgy technology to manufacture components that have complex design and structure. Furthermore, powder metallurgy technology saves energy, improves performance, and offers greater design and manufacturing flexibility, as compared to that offered by other manufacturing process. Powder metallurgy is utilized to manufacture numerous components that are used in passenger vehicles, commercial vehicles, and two-wheelers. Increase in production of passenger vehicles is fuelling the demand for complex parts in order to enhance vehicle performance and fuel efficiency. Consequently, demand for powder metallurgy is likely to remain high, which in turn is anticipated to propel the automotive powder metallurgy market during the forecast period.

The automotive powder metallurgy market can be segmented based on application, vehicle, material, and region. Based on application, the automotive powder metallurgy market can be separated into engine parts, transmission parts, suspension system, brake system, and others. Transmission parts such as synchronizer hub, blocking ring, interlock sleeve, clutch parts, and few other components are manufactured by using power metallurgy. Furthermore, parts of automatic transmission, such as vane type and gear type pump along with few other components such as clutch plates, inner races, chain sprockets, are manufactured by using powder metallurgy. Rising demand for semi-automatic and automatic transmission is anticipated to drive the automotive powder metallurgy market during the forecast period.

In terms of vehicle, the automotive powder metallurgy market can be divided into passenger vehicle, commercial vehicle, and electric vehicle. Demand for passenger vehicles is increasing owing to rapid urbanization in developing countries coupled with the availability of attractive financing options. However, numerous components present in passenger vehicles, such as transmission parts, engine parts, and fuel system parts, are manufactured by using powder metallurgy technology. Consequently, the automotive powder metallurgy market is likely to expand during the forecast period.

In terms of material, the automotive powder metallurgy market segregated into steel and steel alloys, aluminum alloys, copper alloys, and others. Demand for aluminum alloys is increasing, owing to the trend of light weight vehicles in the automotive industry in order to achieve maximum fuel efficiency. This, in turn, is likely to boost the aluminum alloy segment during the forecast period.

In terms of region, the automotive powder metallurgy market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Adoption rate of light weight material in the automotive industry in Europe and North America is high. Development of complex parts and adoption of new technologies is high in Europe and North America. Consequently, the automotive powder metallurgy market is likely to expand during the forecast period.