Piezoelectric Devices Market size worth US$31.027 billion by 2027

Piezoelectric Devices Market size worth US$31.027 billion by 2027

By Knowledge Sourcing Intelligence Press Releases

Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Piezoelectric Devices Market- which is forecasted from 2020 to 2027”.

The prime factors propelling the growth of the Piezoelectric Devices Market are an increase in the demand for piezoelectric devices for quicker energy harvesting, contemporary aerospace & defence applications, and significantly expanding R&D expenditures.

As per the report, the market for Piezoelectric Devices Market is expected to grow at a steady pace.

Piezoelectric generators are in great demand due to a number of technological advancements, including miniaturisation, nano-scaling (such as nanogenerators), precision motion, and vibration energy harvesting. Piezoelectric devices are widely used in the aerospace industry and piezoelectric energy harvesters. The market for piezoelectric devices is also expanding as a result of increased demand from automakers. In the aerospace sector, piezoelectric actuators are used to actively reduce vibrations in mechanical structures when they are undesirable. Piezoelectric generators are capable of harvesting mechanical energy from the environment and transforming it into electrical energy. Aerospace and automotive applications, including wind turbines, engines, automobiles, aeroplanes, helicopters, and machine tools, can benefit from the use of mechanical vibration reduction technologies. Further research in the area of development of lead-free piezoceramic devices is expected to boost the market.

The Piezoelectric Devices market has been categorized on the basis of product, material, end-user industry and geography.

By product, the market has been classified based on Actuators, Sensors, Generators, Transducers, Motors and Others. Due to its use in a variety of industries, such as autonomous vehicles, production lines, and consumer electronics, the sensors market is predicted to expand at a significant rate.

On the basis of material, the classification has been done into Ceramics, Composites, Crystals, and Polymer. Considering the widespread use of PZT in the production of transducers and actuators and the ease with which its performance may be altered through the use of doping materials, piezoceramics are predicted to occupy a significant market share.

On the basis of end-user industry, the classification has been done into Manufacturing, Consumer Electronics, Healthcare, Communication and Technology, Automotive and Others. The consumer electronics segment is expected to grow as a result of the increased spending on consumer goods.

Given the increasing technological advancements and the expanding end-user electronics sector, the Asia Pacific area has been estimated to have the greatest market share. The region is likely to have strong growth over the next few years due to the rising use of piezoelectric components and materials in consumer electronics as well as the fact that China and Japan are major producers of consumer electronics.

Due to the Covid-19 Pandemic's shutdown of the automotive, electronics, and aerospace industries, the piezoelectric devices market has experienced significant losses. However, because most nations have raised their defence spending in response to the COVID-19 pandemic, the defence industry observed a rise in demand for piezoelectric devices. Additionally, the market for piezoelectric devices has experienced an abrupt rise in demand as the automotive and electronics sectors resume operations, particularly with the advent of electric vehicles.

As a part of the report, the major players operating in the Piezoelectric Devices market, that have been covered are kistler group, Morgan Advanced Material, APC International Ltd., Aerotech Inc., Physik Instrumente (PI) GmbH & Co. KG., L3harris Technologies, Inc. and CERAMTEC GMBH

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/piezoelectric-devices-market

This analytics report segments the Piezoelectric Devices market on the following basis

  • By Product
    • Actuators
    • Transducers
    • Sensors
    • Motors
    • Generators
    • Others
  • By Material
    • Ceramics
    • Crystals
    • Composites
    • Polymer
  • By End-User Industry     
    • Manufacturing
    • Healthcare
    • Consumer Electronics
    • Communication and Technology
    • Automotive
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      •  Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • South Africa
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others