The  global powdered metallurgy components market size was valued at USD 2.11 billion in 2021 and is expected to grow at a CAGR of 11.4% during the forecast period 2022-2028.Powder metallurgy components find a huge array of application in automotive systems like oil pumps, (particularly gears), exhaust gas recirculation (egr) systems, chassis components, shock absorbers (piston valves, end valves), exhaust systems, oxygen, sensor bosses, variable valve timing systems, chassis components and flanges and anti-lock breaking systems (abs). There is growing demand for powdered metallurgy components from the healthcare sector. This sector is the booming market for powdered metallurgy components. It can be attributed to the increasing utilization of such components in the healthcare sector, which encloses components and can be made through powder-based routes. Metal injection molding is there through which several surgical instruments as well as dental implants are manufactured. Rare earth permanent magnets processed from powders are utilized, huge quantity in MRI scanners. Automotive segment is one of the profitable markets for powdered metallurgy components. This sector witnesses larger share of almost 80% of sales mainly for automotive applications.


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North America Witnesses Larger Revenue Share in Global Powdered Metallurgy Components Market
North America is anticipated to be front runner in the market. U.S is witnessed to experience profitable growth in the region due to the increasing interest of patron in electric vehicles and requisite to design lightweight elements for increasing the efficacy of fuels in vehicles. Asia Pacific is known to be the potent market for powder metallurgy components. Rising countries like India and China fuel the regional market because of the factors such as cumulative investments in electric vehicles, growing GDP as well as huge investments made in R&D activities. Europe powdered metallurgy components market is also witnessing considerable growth. Increase in inventiveness to curb carbon release and schemes for producing the lightweight parts of vehicles fuels the market growth. Germany is leading the region because of the growing technological developments as well as gathering of huge number of automotive manufacturing companies.


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Competitive Analysis - Global Powdered metallurgy components market

There are several major players operating in the global powdered metallurgy components market, which include Perry Tool & Research, Inc., Comtec Mfg., Inc., Webster-Hoff Corporation, Vision Quality Components, Inc., Catalus Corporation, Embassy Powdered Metals, Powder Metallurgy Company, Inc., Hitachi Chemical, Carpenter Technology and Fine Sinter. Market players hugely focus on adopting a few strategies such as collaborations, acquisitions, mergers and novel product launches to establish their position in the market, increase their product portfolio and expand their business in the marketplace.

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