Press release
Piezoelectric Devices Global Market Report 2024 - By Trends, Demand, Size, Share, Forecast To 2033
Piezoelectric Devices Market
The piezoelectric devices market size is expected to see steady growth in the next few years. It will grow to $31.06 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to adoption of piezoelectric energy harvesting, growth in haptic feedback and touchscreens, expansion in industrial automation and robotics, customized piezoelectric solutions for various applications, demand for energy-efficient sensors.. Major trends in the forecast period include adoption of piezoelectric energy harvesting, growth in haptic feedback and touchscreens, expansion in industrial automation and robotics, customized piezoelectric solutions for various applications, demand for energy-efficient sensors.
Market Overview -
Piezoelectric devices are the devices that utilize the piezoelectric effect to measure pressure, acceleration, temperature, shear stress, or force by converting this into an electric charge. These devices are developed by using piezoceramics materials and employed for process management, quality control, and R&D in various industrial sectors.
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Surging Wearable Device Demand Boosts Piezoelectric Devices Market
The increasing demand for wearable devices is anticipated to propel the growth of the piezoelectric devices market going forward. Wearable devices refer to electronic devices or technology that are used on the body, typically as accessories or clothing, and designed to provide various functions and features to monitor health and fitness, provide information, and offer entertainment to consumers. Piezoelectric devices, such as piezoelectric sensors, are used in wearables to detect and monitor various physical parameters and to monitor biometric data. For instance, in December 2021, according to Deloitte Touche Tohmatsu Limited, a UK-based consulting company, there were 320 million consumer health and wellness wearable devices in 2022, and it is estimated that this will increase to nearly 440 million by 2024. Therefore, the increasing demand for wearable devices is driving the growth of the piezoelectric devices market.
Competitive Landscape -
Major companies operating in the piezoelectric devices market include Aerotech Inc., APC International Ltd., CeramTec GmbH, CTS Corporation, Kistler Instruments India Pvt. Ltd., L3harris Technologies Inc., Mad City Labs Inc., Morgan Advanced Materials plc, Physik Instrumente (PI) GmbH & Co. KG, Piezomechanik Dr. Lutz Pickelmann GmbH, Piezosystem jena GmbH, PCB Piezotronics Inc., Exelis Inc., Metrix Instrument Co., Honeywell International Inc., Meggitt SA, Bruel and Kjaer UK Ltd., TE Connectivity Ltd., Kyowa Electronic Instruments Co. Ltd., US Eurotek Inc., Noliac A/S, Piezo Technologies India Pvt. Ltd., Dytran Instruments Inc., ELPA TV & Bredbandsteknik AB, Kinetic Ceramics LLC, Johnson Matthey Piezo Products GmbH, Physik Instrumente GmbH & Co. KG, HongKong Piezo Company Limited, TRS Technologies India Pvt. Ltd., Sparkler Ceramics Ltd., Solvay SA, Usound GmbH, Centre for Process Innovation Limited, Sensor Technology Ltd., Actuated Medical Inc., Aito BV, Vesper Technologies Inc., Sensonics Ltd., Harri Krishna Exports Pvt. Ltd., Murata Manufacturing Co. Ltd.
Advancements In 3D Printed Piezoelectric Materials Reshaping Piezoelectric Device Market
Technological advancements in piezoelectric material and polymers are shaping the piezoelectric devices market. 3D printed piezoelectric materials are increasingly been developed by researchers and engineers to overcome the shapes and raw materials restrictions of piezoelectric materials. 3D Printed piezoelectric materials are designed to convert impact, movement, and stress from any direction to electrical energy. For instance, in February 2021, Researchers from Korea's Jeonbuk National University and Chinese material provider Wuhan Chamtop innovated 3D printed novel wearable self-powered sensors. The sensors detect and convert pressure inputs supplied by human movement using piezoelectric energy, signifying a significant advancement in developing high-performance additive wearable electronics.
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Key Segments -
The piezoelectric devices market covered in this report is segmented -
1) By Material: Ceramics, Crystals, Polymers, Composites
2) By Product: Piezoelectric Sensors, Piezoelectric Actutators, Piezoelectric Transducers, Piezoelectric Motors, Piezoelectric Generators
3) By Application: Industrial and Manufacturing, Defense and Aerospace, Automotive, Healthcare, Information and Communication, Consumer Electronics
4) By Element: Piezoelectric Discs, Piezoelectric Rings, Piezoelectric Plates
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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