Key Findings for the Automotive Powder Metallurgy Components Market 2018-2022 | Technavio
LONDON--(BUSINESS WIRE)--May 11, 2018-- market research analysts forecast the to post a CAGR of over 7% during the forecast period. The increasing use of titanium and titanium-based alloy powders is a key trend, which is expected to impact the market.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180511005426/en/
Technavio has published a new market research report on the global automotive powder metallurgy components market from 2018-2022. (Graphic: Business Wire)
The global automotive powder metallurgy components market is witnessing increased use of titanium in the manufacturing of PM components. Titanium is stronger, more durable, less dense, and is highly resistant to higher temperatures. It also offers greater resistance to corrosion than steel. Such properties make it a preferred material for the manufacture of PM components.
In this report, Technavio analysts highlight energy saving and cost advantages over traditional machining technologies as a key factor contributing to the growth of the global automotive powder metallurgy components market:
Energy saving and cost advantages over traditional machining technologies
The growth of the global automotive powder metallurgy components market is attributed to mainly the cost-saving advantages offered by the PM technology over other metalworking technologies, such as forging, extrusion, casting, and machining. PM technology offers 40% or higher cost savings than other technologies. It also has a high raw material use of up to 97% and can be best used to produce high-volume components such as gears, bearings, and shafts. The resultant components exhibit better dimensional tolerances over those that are produced from conventional metal forming processes.
“Unlike traditional machining operations, the PM process has lower energy requirements per pound of finished components when compared to other processes. For instance, to manufacture the notch segment used in the transmission of trucks, PM process consumes around 43% less energy than traditional machining technologies. Moreover, the PM process is faster than other technologies as it uses fewer number of steps,” says a senior analyst at Technavio for research.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global automotive powder metallurgy components market - segmentation analysis
In 2017, the Americas led the global automotive powder metallurgy components market with a share of 39%, followed by EMEA and APAC. The global automotive powder metallurgy components market in APAC is expected to grow at a higher rate than EMEA and the Americas during the forecast period due to the increasing adoption of automotive components manufactured using PM process.
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180511005426/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY MANUFACTURING AUTOMOTIVE MANUFACTURING ENGINEERING NATURAL RESOURCES MINING/MINERALS AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 05/11/2018 10:56 AM/DISC: 05/11/2018 10:56 AM