Market Research Future (MRFR) study on the global piezoelectric devices market (2016-2022) addresses the COVID-19 review of critical factors influencing the market growth. The report assesses market competitors and global market trends, providing a succinct overview of both growth drivers and limitations, which could substantially impact the market outlook during the forecast period.
A piezoelectric sensor is a device that uses a piezoelectric effect to measure pressure variation, acceleration, temperature, strain, or force by converting it to an electrical charge. They are used in a range of applications, such as medical, aerospace, nuclear instrumentation, consumer electronics, and a pressure sensor in mobile phone touchpads. Piezoelectric technology is unaffected by electromagnetic fields and radiation, making measurements under harsh conditions.
Market Dynamics
Increased use of piezoelectric devices in applications such as mobile phones, low power and portable energy sources in the healthcare sector, consumer notebooks, computer disk drives, structural health monitoring, and robotics will boost the market for piezoelectric devices. Other factors that help market growth in piezoelectric devices include new applications of piezoelectric energy harvesting devices and support from investors and the government. The advancement of the high-speed communication industry, increasing demand for high-precision micropositioning devices, promising applications of piezoelectric technology in the medical device field, and technological developments in composite materials and piezoelectric polymers are expected to fuel market growth in the future.
Nevertheless, the huge costs associated with this material, such as lead-based ceramics and piezo-crystals, can hinder the global market for piezoelectric devices.
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Market Segmentation
The global piezoelectric devices market research has been segmented into application and vertical.
Based on application, the global piezoelectric devices market has been segmented into sensors, transducers, energy harvesting, motors, and high voltage actuators.
Based on vertical, the global piezoelectric devices market has been segmented into oil & gas, automotive, aerospace & defense, medical & healthcare, communication, among others. The aerospace & defense application had the largest market share of piezoelectric devices in 2019. This is due to the growing adoption of piezoelectric-device products such as sensors, actuators, and aerospace & defense applications. Piezoelectric actuators are primarily used in various parts of aircraft to damp unwanted vibrations. The reduction of sound levels in helicopters has attracted a great deal of interest; however, technology is also applied to planes, wind turbines, motors, machine tools, and laboratory tables.
Regional Analysis
Region-wise, the global piezoelectric devices market research has been segmented into the Americas, Asia Pacific, Europe, and the Middle East& Africa.
As a result of its fast growth in piezoelectric devices, Asia Pacific is the leading market for piezoelectric devices. The market for piezoelectric devices is growing due to the enormous potential for piezoelectric devices in various applications in emerging economies such as South Korea, China, and India.
Europe is the second-largest market for piezoelectric devices due to lucrative automotive, healthcare, and industrial & manufacturing verticals in the region. In addition, Europe is home to major players such as Physik Instrumente (PI) GmbH & Co. KG (Karlsruhe, Germany), CeramTec GmbH (Plochingen, Germany), and piezosystem jena GmbH (Jena, Germany). These players are considered trendsetters in this market due to the development of ground-breaking piezoelectric products and devices used in a wide range of applications.
North America has emerged as another lucrative market for piezoelectric devices, as the rise in information technology, communication, and digitalization leads to the adoption of portable electronics.
Rapid urbanization and massive investment by global healthcare providers in Latin America to reach advanced medical solutions and surgical tools where piezoelectric devices are used drives the demand for piezoelectric devices.
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Key Players
The prominent participants in the global piezoelectric devices market are Morgan Advanced Materials (UK), PI (Germany), Piezosystem Jena (Germany), Piezomechanik Dr. Lutz Pickelmann GmbH (Germany), Mad City Labs, Inc. (U.S.), APC International, Ltd. (U.S.), CeramTec (Germany), Noliac A/S (Denmark), Piezo Systems, Inc. (U.S.) among others.
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According to the research report "Piezoelectric Devices Market by Material (Piezoelectric Ceramics, Crystals, Polymers), Product (Piezoelectric Actuators, Transducers, Motors), Application (Aerospace & Defense, Industrial, Consumer), and Region - Global Forecast to 2025", is estimated to grow from USD 28.9 billion in 2020 to USD 34.7 billion by 2025; at a CAGR of 3.7%.
Rising demand for piezoelectric devices for energy harvesting and for aerospace & defense applications are the factors fueling the growth of this market.Browse 109 market data Tables and 55 Figures spread through 194 Pages and in-depth TOC on "Piezoelectric Devices Market - Global Forecast to 2025"Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256019882“Market for piezoelectric generators is expected to grow at highest CAGR during forecast period”The market for piezoelectric generators is expected to grow at the highest CAGR during the forecast period.
Hence, piezoelectric nanogenerators are used on a large scale in portable consumer electronic devices such as smartwatches, smartphones, laptops, and notebooks to cater to their power requirements.“Piezoelectric ceramics accounted for largest share of piezoelectric devices market in 2019”Piezoelectric ceramics held the largest size of the piezoelectric devices market, by material, in 2019 and are expected to continue to hold a major market share during the forecast period.
They offer fast response time, high output, frequency, sensitivity, and can be used with low-voltage or high-voltage drive circuits and are available in a wide variety of shapes and sizes.
Piezoelectric actuators and positioning systems are used for precision and stability in visualization and microscopy for diagnostic applications.
The growth of the piezoelectric devices market in this region is attributed to increasing government initiatives, rising foreign investments, growing population, along with the bulk manufacturing facilities of piezoelectric devices, presence of numerous manufacturers and suppliers, low cost of piezoelectric devices, and technological advancements in emerging markets.L3HARRIS TECHNOLOGIES, INC. (Florida, US), CeramTec GmbH (Plochingen, Germany), CTS CORPORATION (Illinois, US), Physik Instrumente (PI) GmbH & Co. KG.
