Piezoelectric Devices Market Size to Cross USD 56.2 Billion at 6.89% CAGR by 2031 | SNS Insider

Piezoelectric Devices Market Size, Share, Growth Drivers and Regional Analysis, Global Forecast 2024 - 2031

AUSTIN, TEXAS, UNITED STATES, June 14, 2024 /EINPresswire.com/ -- The piezoelectric instrument industry is experiencing a surge due to its diverse applications across various sectors. This versatility, integrates with the growing demand for efficiency and safety in automation, is Drive the market towards significant growth.

The SNS Insider report highlights a promising future for the piezoelectric devices market, estimating its size to reach USD 56.2 billion by 2031. This translates to a compelling CAGR of 6.89% over the forecast period of 2024-2031.

Untapped Potential in Automation Drives Market Growth

The increasing adoption of automation across industries. Piezoelectric devices play a major role in this transition, these devices provide real-time monitoring, precision guidance, and automation capabilities, leading to heightened accuracy and productivity. Piezoelectric technology facilitates remote operation and reduces the need for direct human involvement in hazardous tasks, safeguarding worker well-being. This synergy between efficiency and safety is fostering significant growth in the piezoelectric devices market. Industries such as construction, manufacturing, agriculture, and mining are increasingly recognizing the potential of these devices to address critical needs and optimize resource utilization.

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KEY PLAYERS:
- 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)

Recent Developments

-May 2022, CeramTec introduced AlN HP, a novel high-performance substrate crafted from aluminum nitride. This material boasts excellent thermal conductivity, making it ideal for power converters in rail vehicles and alternative energy applications.
-June 2022, CTS Corporation further solidified its position by acquiring Ferroperm Piezoceramics from Meggitt PLC. This strategic move aims to leverage the combined technical expertise and accelerate product development.

KEY MARKET SEGMENTS:

By Product
-Piezoelectric Sensors
-Piezoelectric Actuators
-Piezoelectric Motors
-Piezoelectric Generators
-Piezoelectric Transducers
-Others

by Product, Piezoelectric sensors dominate the market due to their compact size and responsiveness, making them ideal for miniaturized smart sensing devices like wearables and Internet of Things (IoT) gadgets.

By Element
-Piezoelectric Discs
-Piezoelectric Rings
-Piezoelectric Plates

by Element, Piezoelectric rings reign supreme in the healthcare sector. They are integral components of advanced medical devices like ultrasound transducers, ensuring high-quality imaging and diagnostics. Discs and plates also hold significant importance, finding applications in medical sensors, non-invasive monitoring tools, and portable diagnostic devices.

By Material
-Piezoelectric Crystals
-Piezoelectric Ceramics
-Piezoelectric Polymers
-Piezoelectric Composites

By Application
-Aerospace and Defense
-Industrial and Manufacturing
-Automotive
-Healthcare
-Information and Communication
-Consumer Electronics
-Others

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Asia Pacific region Dominates the Market

The report identifies Asia Pacific as the frontrunner in the piezoelectric devices market. This dominance is driven by Governments in India, China, and South Korea are actively promoting the development of the manufacturing sector through tax rebates and incentives for electronics manufacturers to establish new plants in the region. The burgeoning consumer electronics industry in China and Japan, known for their extensive use of piezoelectric materials and elements, further fuels market growth in the region.

Europe presents another significant market, driven by its thriving automotive, aerospace, and industrial sectors, Germany and France are at the forefront of implementing piezoelectric technology for precise control and automation within manufacturing processes. Piezoelectric sensors play a Important role in fuel injection systems and exhaust control mechanisms. The aerospace industry heavily relies on piezoelectric materials for vibration control and sensing purposes. Europe's commitment to sustainability fosters the adoption of piezoelectric energy harvesting solutions. Additionally, strong research and development initiatives solidify Europe's position as a prominent player in the global market.

Key Takeaways

-The demand for piezoelectric devices is projected to rise steadily due to their diverse applications in automation, healthcare, and various other sectors.
Efficiency and safety remain key drivers, prompting industries to embrace piezoelectric technology for improved machine performance and worker protection.
-Technological advancements and strategic acquisitions highlight the market's dynamism and continuous evolution.
Asia Pacific and Europe are expected to maintain their dominance due to government support, robust industrial sectors, and a growing focus on sustainability.

Table of Content – Analysis of Key Points

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics

Chapter 4. Piezoelectric Devices Market Impact Analysis
Chapter 4.1 COVID-19 Impact Analysis
Chapter 4.2 Impact of Ukraine- Russia war
Chapter 4.3 Impact of ongoing Recession

Chapter 5. Value Chain Analysis
Chapter 6. Porter’s 5 forces model
Chapter 7. PEST Analysis
Chapter 8. Piezoelectric Devices Global Market, by Product
Chapter 9. Piezoelectric Devices Global Market, by Material
Chapter 10. Piezoelectric Devices Global Market, by Element
Chapter 11. Piezoelectric Devices Global Market, by Application
Chapter 12. Regional Outlook
Chapter 13. Competitive Intelligence
Chapter 14. Key Companies Analysis
Chapter 15. Research Process

Continued…

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Akash Anand
SNS Insider
+1 415-230-0044
info@snsinsider.com
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