Piezoelectric Device Market 2023 Driving Factors Forecast Research 2029

The global piezoelectric device market is anticipated to grow at a considerable CAGR of 4.7% during the forecast period. Increasing applications in medical & automotive and rising application of Nano technology are estimated to be the primary factors for driving the growth of the market. In addition, advancement in high speed communications is also estimated to contribute towards the growth of the market. Piezoelectric devices are widely used in the manufacturing of sensors that are used widely in automotive such as knock sensors, distance sensors and so on. Furthermore, other applications of piezoelectric devices in automotive such as usage in air bag sensors, anti-lock braking and so on. Piezoelectric device are the devices made up of piezoelectric substances. Piezoelectric substances can change their shape and size when subjected to mechanical strain, additionally they also have tendency to generate electricity. Zircanate, Titanate, Piezo crystals, and Piezo polymers are some of the commonly used piezoelectric substances. Wide applications of piezoelectric devices and technological advancement of the Nano technology are the major factors that are driving the growth of the across the globe.

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However, there are certain factors that are hindering the growth of the market. The high cost of raw material that is being used for the development of the piezoelectric devices and government policies to reduce the lead consumption in some countries are estimated to be one of the major constraints in the growth of the market. Due to this, new opportunities can be found out in lead free components. Some lead-free components are Bismuth ferrite; Barium titanate, Barium titanate, Bismuth titanate Increasing awareness towards energy harvesting, use of piezo motion technology and its wide application are developing myriad growth opportunities for the growth of the market during forecast period.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

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
o Crystals
o Ceramics
o Polymer
o Composite

By Products
• Actuators
• Acoustic Devices
• Motors
• Transducers
• Generators
• Resonators
• Sensors

Global Piezoelectric Devices Market Report by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa

The Report Covers
• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global piezoelectric device market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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