CHICAGO, June 20, 2023 /PRNewswire/ -- The Piezoelectric Devices Market is projected to grow from USD 32.7 billion in 2023 and is projected to reach USD 46.0 billion by 2028; it is expected to grow at a CAGR of 7.0% from 2023 to 2028 according to a new report by MarketsandMarkets. Increasing adoption of piezoelectric devices in energy harvesting is one of the major drivers of the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256019882
Browse in-depth TOC on "Piezoelectric Devices Market"
150 - Tables
60 - Figures
200 - Pages
Piezoelectric Devices Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $32.7 billion |
Estimated Value by 2028 | $46.0 billion |
Growth Rate | Poised to grow at a CAGR of 7.0% |
Market Size Available for | 2019-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product, Material, Element, Application and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Developing Alternative Materials to PZT Ceramic Materials Having Similar Properties |
Key Market Opportunities | Rising Adoption of Piezoelectric Devices and Polymers in Biomedical and Surgical Applications |
Key Market Drivers | High Adoption of Piezoelectric Products in Aerospace Industry |
Aerospace and defense application to hold the largest share of the piezoelectric devices market during forecast period.
The aerospace and defense application held the largest share of the piezoelectric devices industry in 2022. The aerospace & defense sector needs piezoelectric materials and products that deliver high precision, reliability, and various functionalities, such as the ability to bear launching vibrations and shocks. Piezoelectric products are designed for numerous applications in the aerospace & defense industry, such as gas turbine engines and testing rocket motor combustion instability, cryogenic fuel pulsations, hydraulic pump evaluation, and helicopter health and usage monitoring (HUMS).
Market for piezoelectric actuator is expected to have largest market share during the forecast period.
In 2022, piezoelectric actuators held the largest share of the piezoelectric devices market, and a similar trend is likely to be observed in the coming years. The dominant position of this segment can be attributed to the increasing adoption of piezoelectric actuators in diverse industrial applications such as automotive, aerospace & defense, electronics & semiconductor, biomedical, optics, photonics, scientific instrumentation, telecommunications, ultrasonic machine control, and metrology that require precise position control; for example, in an industrial environment, they are used in the ultrafine-movement stage of semiconductor exposure systems, precision positioning probes, and probes for scanning tunnel microscopy (STM) and atomic force microscopy (AFM).
Market for piezoelectric ceramics to have largest market size during forecast period.
Piezoelectric materials are globally used to manufacture piezoelectric devices and elements such as actuators, sensors, motors, discs, rings, and plates. As piezoelectric materials possess a high degree of stiffness when exposed to mechanical stress and can change shape, these materials are now frequently used in the formulation of several electronic goods such as actuators, transducers, sensors, sonar, generators, and motors., which, in turn, will augment market growth during the forecast period.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=256019882
Asia Pacific to have largest share of piezoelectric devices market in during the forecast period.
Asia Pacific region is expected to have largest market size of piezoelectric devices market during the forecast period. China, Japan, and South Korea adopt piezoelectric devices at a higher rate owing to the benefits offered by them, including high accuracy, high sensitivity, and low cost. Moreover, industrial developments and a concentration of manufacturing activities in China and Japan drive economic growth of the region, which, in turn, is expected to result in increased adoption of piezoelectric devices in Asia Pacific.
Key players in the piezoelectric devices market include CeramTec GmbH (Germany); CTS Corporation (US); Kistler Group (Switzerland); Physik Instrumente (PI) GmbH & Co. KG. (Germany); piezosystem jena GmbH (Germany); Piezo Technologies (US); Aerotech Inc. (US); APC International, Ltd., (US); Mad City Labs, Inc. (US) are among the leading companies in the piezoelectric devices market. Apart from these, Kinetic Ceramics (US), Johnson Matthey Piezo Products GmbH (Germany), PI Ceramic (Germany), Piezo Solutions (US), DYTRAN INSTRUMENTS INCORPORATED (US), Piezomechanik Dr. Lutz Pickelmann GmbH (Germany), PiezoMotor (Sweden), PCB Piezotronics, Inc. (US) are among a few emerging companies in the piezoelectric devices companies.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=256019882
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Energy Harvesting System Market Size, Share & Industry Growth Analysis Report by End-use System, Technology, Component (Transducers, Power Management Integrated Circuits and Secondary Batteries), Application, and Region - Global Growth Driver and Industry Forecast to 2026
Pressure Sensor Market by Sensor Type (Wired, Wireless), Technology (Piezoresistive, Capacitive, Optical), Product (Absolute, Gauge, Differential), End Use, Vertical, and Geography 2026
Biosensors Market Size, Share, Industry Growth Analysis Report by Type, Product (Wearable, Non-wearable), Technology, Application (POC, Home Diagnostics, Research Lab, Environmental Monitoring, Food & Beverages, Biodefense) Global Growth Driver and Industry Forecast to 2026
Temperature Sensor Market by Product Type (Thermocouples, RTDS, Thermistors, Temperature Sensor ICS, Infrared, and Fiber Optic Temperature Sensors), Output, Connectivity, End-User Industry, & Region - Global Forecast to 2028
Medical Electronics Market by Component (Sensors, MCUs/MPUs, Displays), Device Classification (Class I, Class II, Class III), Application (Diagnostic, Cardiology, Flow Measurement), and Region (2021-2026)
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/piezoelectric-devices-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/piezoelectric-devices.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/piezoelectric-devices-market-worth-46-0-billion-by-2028---exclusive-report-by-marketsandmarkets-301855063.html
