Piezoelectric Devices Market will continue to grow by 2027 | L3HARRIS TECHNOLOGIES, INC. (US); CeramTec GmbH (Germany); CTS Corporation (US); Kistler Group (Switzerland); Physik Instrumente (PI) GmbH & Co. KG. (Germany) etc.

Piezoelectric Devices Market with COVID-19 Impact Analysis by Material (Piezoelectric Ceramics, Polymers), Product (Piezoelectric Actuators, Transducers, Motors), Application (Aerospace & Defense, Industrial, Consumer), and Region - Global Forecast to 2026

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Key Players: L3HARRIS TECHNOLOGIES, INC. (US); 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 some of the key players in the piezoelectric devices market.

“The rising demand for piezoelectric devices for energy harvesting is among the factors driving the growth of the piezoelectric devices market.”

The global piezoelectric devices market is projected to reach USD 35.4 billion by 2026 from an estimated USD 28.7 billion in 2021, at a CAGR of 4.3% from 2021 to 2026. The rising demand for piezoelectric devices for energy harvesting is among the factors driving the growth of the piezoelectric devices market.

“The piezoelectric actuators segment held the major share of the piezoelectric devices market in 2020, and this trend is expected to continue during the forecast period.”

In 2020, piezoelectric actuators held the largest size of the piezoelectric devices market, and a similar trend is likely to be observed during the forecast period.

The growth can be attributed to several benefits offered by them, including less heat dissipation, less power consumption, fast response, high actuating precision, compact size, high reliability, and low cost. In addition, piezoelectric actuators are highly power-efficient tools with excellent rotational speed. Owing to these benefits, they are widely used in various industries such as aerospace & defense, automotive, industrial and manufacturing, and healthcare.

“The market for piezoelectric polymers is expected to grow at the highest CAGR during the forecast period”

The market for piezoelectric polymers is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the rising adoption of polymers in the healthcare industry due to their benefits such as low fabrication cost, lightweight, and fast processing speed. In addition, their adoption in biological applications, such as bio-signal acquisition and tissue regeneration/repair, supports the growth of the market for piezoelectric polymers.

“The aerospace and defense segment held the largest share of the piezoelectric devices market”

The aerospace and defense application held the largest size of the piezoelectric devices market in 2020 owing to the increasing adoption of piezoelectric devices in the aerospace and defense industry to reduce harsh effects caused due to environmental conditions. piezoelectric devices are preferred for non-destructive testing (NDT) and structural health monitoring of aircraft and airplane parts.

“Based on region, APAC is expected to account for the largest share of the piezoelectric devices market by 2026”

In 2026, APAC is projected to hold the largest share of the overall piezoelectric devices market. The market in APAC is expected to grow at the highest CAGR during the forecast period. The major factor contributing to this growth is technological developments and a major focus on energy harvesting in countries such as China, Japan, and South Korea. China and Japan are industrial hubs that house numerous electronic equipment, devices, components, automotive, and other industries, which require piezoelectric devices for reducing the overall energy consumption. Moreover, the industrial transformation toward digitalization is expected to transform manual processes into digital processes in the manufacturing industries. This is expected to increase the demand for highly advanced and miniatured electronic devices and products. Thus, it is expected to support the growth of the piezoelectric devices market in the future.

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