How Global Piezoelectric Devices Market Players Should Strategize For 2022-2031
4 Oct, 2022
The global piezoelectric devices market size is expected to grow from $23.92 billion in 2021 to $24.9 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The global piezoelectric devices market size is expected to grow to $29.64 billion in 2026 at a CAGR of 4.5%.
What is the Global Piezoelectric Devices Market?
The piezoelectric devices market consists of sales of piezoelectric devices products by entities (organizations, sole traders, and partnerships) that exhibit piezoelectric effects such as piezoelectric motors and motion systems. Piezoelectric devices are the devices that utilize the piezoelectric effect to measure pressure, acceleration, temperature, shear stress, or force by converting this into an electric charge. These devices are developed by using piezoceramics materials and employed for process management, quality control, and R&D in various industrial sectors.
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What drives the Global Piezoelectric Devices Market?
Increased R&D expenditures by the key players are contributing to the growth of the piezoelectric devices market. Key players are spending on research and development of piezoelectric devices for new and better applications. For instance, in November 2020, STMicroelectronics, a Switzerland-based semiconductor manufacturing company, announced the addition of a Piezoelectric (Piezo) MEMS technology research and development line to its 8-inch wafer production facility in Ang Mo Kio, Singapore. Piezo Micro-Electromechanical Systems (MEMS), miniaturized devices used to construct actuators or sensors out of bulk piezo material, would be the focus of the new business. Therefore, the increased R&D expenditures by the manufacturers for the development of piezoelectric devices for different industry is driving the growth of the piezoelectric devices market.
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https://www.thebusinessresearchcompany.com/report/piezoelectric-devices-global-market-reportGlobal Piezoelectric Devices Market Segments
The global piezoelectric devices market is segmented:
By Material: Ceramics, Crystals, Polymers, Composites
By Product: Piezoelectric Sensors, Piezoelectric Actuators, Piezoelectric Transducers, Piezoelectric Motors, Piezoelectric Generators
By Application: Industrial and Manufacturing, Defense and Aerospace, Automotive, Healthcare, Information and Communication, Consumer Electronics
By Element: Piezoelectric Discs, Piezoelectric Rings, Piezoelectric Plates
By Geography: The regions covered in the piezoelectric devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global piezoelectric devices market.
Piezoelectric Devices Global Market Report 2022provides market size and growth forecasts for the global piezoelectric devices market, global piezoelectric devices market share, piezoelectric devices market segments and geographies, piezoelectric devices market competitive landscape including leading competitors’ revenues, profiles and market shares. The piezoelectric devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Piezoelectric Devices Industry Playersinclude CeramTec GmbH (BC Partners), CTS Corporation, Kistler Instruments India Pvt. Ltd. (Kistler Holding AG), L3harris Technologies Inc., Mad City Labs Inc., Morgan Advanced Materials Plc, Physik Instrumente (PI) GmbH & Co. KG, Piezosystem Jena GmbH, PCB Piezotronics, Meggitt Sensing Systems, Bruel and Kjaer, TE Connectivity, US Eurotek Inc., and Noliac A/S. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.