Automotive Powder Metallurgy Components Market Size to Grow by USD 1.06 bn through 2020-2024 | Forecast and Trend Analysis

Technavio has been monitoring the automotive powder metallurgy components market and it is expected to grow by USD 1.06 bn, accelerating at a CAGR of almost 8% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Automotive Powder Metallurgy Components Market: Emerging Trends to Impact Market Growth

Increasing use of titanium and titanium-based alloy powders to emerge as a key trend in the industrial automotive powder metallurgy components market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.

Automotive Powder Metallurgy Components Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. American Axle & Manufacturing Inc., Comtec Mfg. Inc., Fine Sinter Co. Ltd., Hitachi Chemical Co. Ltd., Johnson Electric Holdings Ltd., Melrose Industries PLC, Miba AG, PMG Holding GmbH, Shandong weida machinery Co. Ltd., and Sumitomo Electric Industries Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

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The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerate at a CAGR of over 8%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by USD 1.06 bn through 2020-2024.
    
3. What is a key factor driving this market?
   energy saving and cost advantages will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   47% growth will originate from APAC
    
6. Who are the leading market vendors?
   The leading vendors in this market are American Axle & Manufacturing Inc., Comtec Mfg. Inc., Fine Sinter Co. Ltd., Hitachi Chemical Co. Ltd., Johnson Electric Holdings Ltd., Melrose Industries PLC, Miba AG, PMG Holding GmbH, Shandong weida machinery Co. Ltd., and Sumitomo Electric Industries Ltd.
    
7. What are the market segments covered in this report?
   The market is segmented by Component (Engine components, Transmission components, and Other components) and Geography (APAC, Europe, North America, South America, and MEA)