Piezoelectric Devices Market Analytical Overview, Growth factors, Demand and Trends Forecast to 2022
According to the new market research report “Piezoelectric Devices Market by Material (Piezoceramics, Piezopolymers, Piezocomposites, Piezocrystals), Product (Actuators, Transducers, Motors, Sensors, Generators), Application (Industrial, Automotive, Healthcare, Consumer) – Global Forecast to 2022″, the market is expected to be worth USD 31.33 Billion by 2022, growing at a CAGR of 4.88% between 2016 and 2022. The driving factors for the growth of this market include increasing demand for piezoceramic devices, increased funding from government and investors, emerging energy harvesting techniques, rising demand in automotive sector, and growing popularity of miniaturization technology.
The market for piezoceramics held the largest share in the piezoelectric device market owing to its high piezoelectric sensitivity and ability to acquire desired shapes and sizes. Currently, the most widely used piezoelectric ceramic material is lead-zirconate-titanate (PZT). It is used in a variety of applications such as healthcare, industrial and manufacturing, and automotive, among others.
The global market for piezoelectric actuators and piezoelectric motors is expected to witness a significant growth during the forecast period owing to the benefits like reliability and cost-effectiveness offered by piezoelectric actuators and motors. Increase in demand for ultraprecision motion devices used for purposes such as manufacturing, structural health monitoring, and nondestructive testing and in industries such as automotive and consumer electronics is expected to boost the market during the forecast period. The market for piezoelectric actuators has potential of further development and growth in areas such as autofocus assemblies required in phone cameras, fuel injectors used in the automotive sector, and precision movement application in microelectronics production.
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Industrial and manufacturing application is the leading the piezoelectric device market on basis of application. Piezoelectric motors, sensors, actuators, and transducers have a number of important uses in industrial processes. Piezoelectric sensors such as ultrasonic sensors are used in sorting and material handling at various stages involved in manufacturing processes. A piezoelectric level sensor uses sound waves to detect and monitor the level of materials in a bin. This increases automation and accuracy and reduces material loss caused by human error. Actuators are used to precisely control industrial machining tools. The piezoelectric actuators, which use the piezoelectricity of crystals, have been used widely in high-precision positioning application in manufacturing and inspection equipment owing to their ability to control a mechanical displacement at a high speed.
The objectives of the study are as follows:
- To define, describe, and forecast the piezoelectric devices market segmented on the basis of material (piezocrystals, piezoceramics, piezopolymers, and piezocomposite), product (piezoelectric sensors, actuators, motors, transducers, generators, and other piezoelectric products), application (industrial and manufacturing, automotive, defense and aerospace, healthcare, information and communication, and other applications), and geography.
- To forecast the size of the piezoelectric device market in terms of value and its market segments with respect to four main regions North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW)
- To identify the major market trends and factors driving or inhibiting the growth of the piezoelectric device market
- To provide value chain analysis as well as the impact of the Porter’s five forces on the market
- To strategically analyze the micromarkets with respect to individual growth trends and contribution to the overall piezoelectric device market
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the global piezoelectric device market
- To strategically profile the key players operating in the piezoelectric device market and comprehensively analyze their market ranking and core competencies
- To analyze the strategic developments such as joint ventures, mergers and acquisitions, new product developments, and research and development in the piezoelctric device market.
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