The global piezoelectric devices market is anticipated to grow at a substantial CAGR of around 4.7% during the forecast period (2022-2028). The factors that boost the growth of the market are the rapid rise in nanotechnology, growing demand for sensors among various industries, usage of piezoelectric devices in the medical field, and increasing automotive market across the globe, is the primary driver that fueled the market growth. Moreover, piezoelectric ceramics, or piezoceramics, have found widespread use in sensors and actuators due to their direct coupling which enables operation without bias voltages, and their ability to output large voltages on the order of 50 V to 100 V. While piezoelectric ceramics are relatively affordable and provide good coupling, they are brittle and have a high density. Owing to its wider advantages and application in different fields the demand for piezoelectric devices market has grown at the fastest rate in coming years.
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The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launches, and product innovation to remain competitive in the market place this is anticipated to positively impact significant market growth. For instance, in April 2022, CTS corp., acquired Meggitt PLC, to increase its portfolio by adding piezoceramic which advances its diversification.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Application
o By Material
o By Products
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Cedrat Technologies SA, Ceramatec Gmbh, Emfit Ltd., Enocean Gmbh, Ionix Advanced Technologies, Kinetic Ceramics.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Piezoelectric Devices Market Segment
By Application
- Aerospace
- Automotive
- Industrial and Manufacturing
- Communication
- Medical
- Military And Defence
- Others (Keyboards, Printers, Desktop, Speaker, Energy Harvesting/Wearables)
By Material
- Naturally occurring crystal
- Synthetic Derived Material
By Products
- Actuators
- Acoustic Devices
- Motors
- Transducers
- Generators
- Resonators
- Sensors
