The sintered steel global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Sintered Steel Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The sintered steel market size has grown strongly in recent years. It will grow from $15.84 billion in 2023 to $16.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to demand for lightweight and high-performance materials, increased adoption of sintered steel in the automotive industry, growing manufacturing and industrial sector, need for durable and strong materials, expansion of the electronics industry.
The sintered steel market size is expected to see steady growth in the next few years. It will grow to $19.82 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to growing electric vehicle (ev) market, rising demand in aerospace, renewable energy sector demand, advancements in additive manufacturing, oil and gas exploration. Major trends in the forecast period include powder metallurgy advancements, integration of advanced alloys, digitalization and industry 4.0, application in 5g technology, emerging technological advancements in the powder metallurgy industry.
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Scope Of Sintered Steel Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The expansion of the automotive sector and increasing demand for innovative designs are contributing to the growth of the sintered steel market. The concepts of electrified, autonomous, connected, and shared will result in a rise in the rate of innovation within the automotive sector. The increasing speed of innovation, mainly in software-based systems, will require cars to be upgradable. Sintered components are finding applications within the automotive industry in areas where they will replace existing forged metal parts. For instance, in August 2023, according to the Board of Governors of the Federal Reserve System, a US-based government agency, total vehicle production in the United States increased to 11.77 million units in July, up from 10.91 million units in June. The expansion of the automotive sector and increasing demand for innovative designs will drive the growth of the sintered steel market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The sintered steel market covered in this report is segmented –
1) By Type: Stainless Steel, Carbon Steel, Alloy Steel, Tool Steel
2) By Process: Metal Injection Molding (MIM), Conventional Manufacturing, Powder Forging Manufacturing, Additive Manufacturing
3) By Application: Engines, Transmissions, Body, Chassis, Drivetrain, Electrical, Other Applications
4) By End-User Industry: Transportation, Industrial, Electrical, Other End-Users
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Regional Insights –
Asia-Pacific was the largest region in the sintered steel market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the sintered steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the sintered steel market report are CNPC Powders Inc., Guest Keen & Nettlefolds Ltd., Samvardhana Motherson International Ltd., Hitachi Chemical Co. Ltd., The Miba Group AG, ASCO Sintering Co., Sintercom India Ltd., AMES BARCELONA SINTERING S. A., Schunk Sinter Metals GmbH, CNPC Powders Inc., Erasteel Ltd., Advanced Technology (Bazhou) Special Powder Ltd., Hoganas AB, Polema JSC, Sintered Metal Corporation, Posco India Pvt. Ltd., Nippon Steel Corporation, Outokumpu Oyj, ArcelorMittal SA, Schmolz+Bickenbach AG, Thyssenkrupp Stainless AG, Acerinox S. A., Mirach Metallurgy Co., SSI Sintered Specialties LLC, Mechanical and Chemical Industry Corporation, Atlas Pressed Metals, Technymon Global Bearing Technologies S. r. l, Federal-Mogul Goetze Limited, Resonac Corp., Stackpole International Ltd., Tungsten Heavy Powder Inc., Umicore S. A., VAC AERO International Inc., Valtimet Oy
Table of Contents
1. Executive Summary
2. Sintered Steel Market Report Structure
3. Sintered Steel Market Trends And Strategies
4. Sintered Steel Market – Macro Economic Scenario
5. Sintered Steel Market Size And Growth
…..
27. Sintered Steel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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