Piezoelectric Devices Market : Driving Forces of Innovation and Market Growth

Posted May 18, 2023 by Prashantvi

The piezoelectric devices market size is projected to grow from USD 30.8 billion in 2022 to reach USD 41.0 billion by 2027; it is expected to grow at a CAGR of 5.9 % from 2022 to 2027.

The piezoelectric devices market is projected to grow from USD 30.8 billion in 2022 and is projected to reach USD 41.0 billion by 2027; it is expected to grow at a CAGR of 5.9% from 2022 to 2027. High adoption of piezoelectric products in aerospace industry, elevated use of piezoelectric energy harvesters, and accelerated demand for piezoelectric devices from automotive manufacturers are among factors that contribute to the growth of the piezoelectric devices market .Growing demand for energy harvesting applications boosts the piezoelectric devices market.

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Increasing adoption of piezoelectric sensors in automotive and healthcare sectors
Rising usage of piezoelectric actuators in precision positioning and motion control systems.
Expanding application scope of piezoelectric devices in consumer electronics and industrial sectors.
Technological advancements driving the miniaturization and efficiency of piezoelectric devices.
Growing investments in research and development activities to enhance piezoelectric device performance.
Rising demand for piezoelectric transducers in ultrasonic cleaning, sensing, and non-destructive testing applications
Favorable government initiatives supporting the growth of piezoelectric devices for energy harvesting and vibration monitoring.
Asia Pacific region witnessing significant growth in the piezoelectric devices market due to rapid industrialization and increasing manufacturing activities.
Rising awareness about the advantages of piezoelectric devices, such as durability, low power consumption, and high precision.

Key players in the piezoelectric devices market include CeramTec GmbH (Germany); CTS Corporation (US); Kistler Group (Switzerland); Physik Instrumente (PI) GmbH & Co. KG. (Germany); piezosystem jena GmbH (Germany); Piezo Technologies (US); Noliac A/S (Denmark); Aerotech Inc. (US); APC International, Ltd., (US); Mad City Labs, Inc. (US) are among the leading companies in the piezoelectric devices market. Apart from these, Kinetic Ceramics (US), Johnson Matthey Piezo Products GmbH (Germany), PI Ceramic (Germany), Piezo Solutions (US), DYTRAN INSTRUMENTS INCORPORATED (US), Piezomechanik Dr. Lutz Pickelmann GmbH (Germany), PiezoMotor (Sweden), PCB Piezotronics, Inc. (US) are among a few emerging companies in the piezoelectric devices market.

Know more @ https://www.marketsandmarkets.com/Market-Reports/piezoelectric-devices-market-256019882.html

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Issued By marketsandmarkets
Country United States
Categories Electronics
Tags piezoelectric devices market
Last Updated May 18, 2023