Published Date: 24-Nov-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Piezoelectric Devices Market size is expected to reach $43.6 billion by 2028, rising at a market growth of 6.2% CAGR during the forecast period.
The Piezoelectric Discs market is generating high revenue in the Global Piezoelectric Devices Market by Element in 2021; thereby, achieving a market value of $23.1 Billion by 2028. A piezo actuator is a piezoelectric ceramic disc that transforms electrical energy into mechanical energy. When voltage is given to a piezo ceramic disc, the piezoelectric material compresses or expands, deforming the piezo ceramic disc actuator and causing displacement.
The Industrial & Manufacturing market is exhibiting a CAGR of 5.9% during (2022 - 2028). Piezoelectric goods, including sensors, transducers, actuators, accelerometers, and motors, have extensive industrial and manufacturing uses. In the industrial and manufacturing sectors, piezoelectric actuators are utilized to accurately control industrial machining machines. These actuators rely primarily on piezoelectric crystals and are widely employed in the construction and inspection of industrial equipment for high-precision positioning mechanisms.
The Piezoelectric Ceramics market is leading the segment in the Global Piezoelectric Devices Market by Material in 2021; thereby, achieving a market value of $18.2 Billion by 2028. The automotive and electronics manufacturing industries have strived for automation in their production lines. This drive has raised the demand for production line equipment, such as sensors, actuators, transducers, and motors.
The Piezoelectric Generators market is showcasing a CAGR of 7.1% during (2022 - 2028). Due to technical advancements, such as downsizing, Nano-scaling (e.g., nanogenerators), precise motion, and vibration energy harvesting, the demand for piezoelectric generators is increasing. Piezoelectric generators may be constructed in a variety of sizes and shrunk to fit into microelectromechanical systems (MEMS).
The Asia Pacific market dominated the Global Piezoelectric Devices Market by Region in 2021; thereby, achieving a market value of $16.2 Billion by 2028. The Europe market is anticipated to grow at a CAGR of 5.7% during (2022 - 2028). Additionally, The North America market would witness a CAGR of 5.5% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Physik Instrumente (PI) GmbH & Co. KG, Piezo Technologies (Amphenol Corporation), Aerotech, Inc., Mad City Labs, Inc., CeramTec GmbH, APC International, Ltd., Piezosystem Jena GmbH, Dytran Instruments, Inc. (Spectris PLC), CTS Corporation and Kistler Group (Kistler Holding AG)
Unique Offerings from KBV Research