The Business Research Company Global Sintered Steel Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, United Kingdom, March 23, 2022 /EINPresswire.com/ — The expansion of the automotive sector and the growing demand for innovative designs are driving the growth of the sintered steel market. The concepts of electrified, autonomous, connected and shared will result in an acceleration of the rate of innovation within the automotive sector. The increasing speed of innovation, primarily in software-based systems, will require cars to be scalable. Sintered components are finding applications in the automotive industry in areas where they will replace existing forged metal parts. For example, according to ibef 2021 data, automobile manufacturing grew at 2.36% CAGR between fiscal years 2016 and 2020, with 26.36 million vehicles manufactured in 2020. In September 2021, Hero Electric announced the increase in production capacity at its Ludhiana plant. , Punjab, to >5 lakh units by March 2022, up from existing capacity of 1 lakh units per year. According to the sintered steel market analysis, expanding automotive sector and growing demand for innovative designs will drive the sintered steel market growth.
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The global sintered steel market size is expected to grow from USD 14.39 billion in 2021 to USD 15.14 billion in 2022 at a compound annual growth rate (CAGR) of 5.25%. The growth of the sintered steel market is mainly driven by companies resuming operations and adapting to the new normal while recovering from the impact of COVID-19, which previously led to containment measures restrictions involving social distancing, remote working and closing business activities. which resulted in operational difficulties. The global market size is expected to reach USD 18.96 billion in 2026 with a CAGR of 5.78%.
According to the Sintered Steel Market research, technological advancement in the automotive sector is a key trend that is gaining popularity among companies working in the market. In December 2021, Mumbai-based car-as-a-service company Autonomous Intelligence Motors Private Limited announced that it would launch an AI-powered self-driving car in the country in 2022. -the car without AI-powered driver will feature BS8-compliant engines for petrol and diesel variants, in addition to electric variants. The self-driving car will be integrated with cameras, custom sensors and radars. Its perception system will use data captured by several sensors and algorithms installed in the car, which will indicate potholes, curves, routes, lanes, etc.
Key players covered in the global sintered steel industry are Sumitomo Electric Industries Limited, GKN PLC, Samvardhana Motherson Group, Hitachi Chemical, The Miba Group, ASCO Sintering Co, Sintercom India Ltd, AMES Sintering Metallic Components, Schunk Sinter Metals , CNPC Powders, Erasteel , Advanced Technology (Bazhou) Special Powder Ltd, Hoganas AB, Polema, SMC Corporation, Posco, Nippon Steel Corporation, Outokumpu, ArcelorMittal, Schmolz+Bickenbach AG, Thyssenkrupp Stainless, Acerinox SA, Mirach Metallurgy Co, SSI Sintered Specialties, MEK Group, Atlas Pressed Metals, Technymon Global Bearing Technologies Srl and Federal-Mogul Goetze Limited.
The global TBRC Sintered Steel market report is segmented by Type into Stainless Steel, Carbon Steel, Alloy Steel, Tool Steel, by Process in Metal Injection Molding (MIM), Conventional Manufacturing, Manufacturing of powder forging, additive manufacturing, by end user industry in transportation, industrial, electrical, others, by application in engines, transmissions, body, chassis, transmission, electrical, others.
Global Sintered Steel Market Report 2022 – By Type (Stainless Steel, Carbon Steel, Alloy Steel, Tool Steel), By Process (Metal Injection Molding (MIM), Conventional Manufacturing, Powder Forging Manufacturing , Additive Manufacturing), By End-User Industry (Transportation, Industrial, Electrical), By Application (Engines, Transmissions, Body, Chassis, Transmission, Electrical) – Global Market Size, Trends & Forecast 2022-2026 is part of a series of new reports from The Business Research Company that provides Sintered Steel Market Overview, Sintered Steel Market Size and Growth Forecast for Overall Market, Sintered Steel Market Segments geographies, Sintered Steel market trends, Sintered Steel market drivers, restraints, revenue, profiles and market shares of key competitors.
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