Global Sintered Steel Market to Reach $182.9 Million by 2030
The global market for Sintered Steel estimated at US$134.6 Million in the year 2023, is expected to reach US$182.9 Million by 2030, growing at a CAGR of 4.5% over the analysis period 2023-2030. Automotive Application, one of the segments analyzed in the report, is expected to record a 4.4% CAGR and reach US$129.7 Million by the end of the analysis period. Growth in the Machinery & Tools Application segment is estimated at 4.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $36.4 Million, While China is Forecast to Grow at 7.5% CAGR
The Sintered Steel market in the U.S. is estimated at US$36.4 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$38.6 Million by the year 2030 trailing a CAGR of 7.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$24.6 Million by the year 2030.
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