Powdered Metallurgy Components Market Size, Scope 2022-2028

Muthyala08 Feb, 2023Business

The global powdered metallurgy components market size was valued at USD 2.11 billion in 2021 and is poised to grow at a significant CAGR of 11.4% during the forecast period 2022-28. The powder metallurgy components market finds a wide range of applications in automotive systems such as anti-lock braking systems (abs) ? sensor rings, oil pumps, (particularly gears) shock absorbers (piston valves, end valves), continuously variable transmissions, exhaust gas recirculation (egr) systems, turbochargers, exhaust systems ? flanges, oxygen sensor bosses, chassis components, variable valve timing systems. Components that are required in large production quantities is considered to be one of the vital markets for powder metallurgy components. In addition, it also is also preferred in various end-user industries. These factors drive the growth of the market. However, the volatility in the prices of raw materials restraints market growth.