Global Piezoelectric Elements Market Expected to Reach US$ 1,060.1 Million by 2028, With a CAGR Of 7.7% | Growth Market Reports
PUNE, India, Aug. 19, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Piezoelectric Elements Market By Types (PZT-Based, PMN-Based, and Others), Applications (Industrial & Manufacturing, Aerospace & Automotive, Consumer Electronics, Medical, Military, and Others), Shapes (Disks, Rings, Plates, Tubes/Cylinders, and Others), and Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at US$ 602.1 Million in 2020 and is expected to grow at a moderate growth rate of 7.7% by the year 2028. The rising adoption of piezoelectricity in industrial application, increasing automation in end-use industries such as electronics and automotive, and increasing use of piezoelectric elements in aircraft wings is expected to fuel the market growth during the forecast period.
Key Market Players Profiled in the Report
- KYOCERA Corporation
- PZT Electronic Ceramic Co. Ltd.
- CTS Corporation
- PI Ceramic GmbH
- CTDCO
- Fuji Ceramics Corporation
- Piezo Technologies
- BeStar Electronics Co. Ltd,
- TRS Technologies Inc.
- Kinetic Ceramics
- Zibo Yuhai Electronic Ceramic Co. Ltd.
- APC International
- Piezo Kinetics
- Sparkler Ceramics
- Weifang Jude Electronic Co. Ltd.
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Piezoelectric Elements Market
On the basis of Types, the piezoelectric elements market is segmented into PZT-based (lead zinc titanates), PMN-based (lead magnesium niobate), and others. In terms of value, the PZT-based (lead zinc titanates) segment is expected to expand at a CAGR of 6.2% during the forecast period, as it is used for manufacturing actuators and transducers, as the performance of the element is easily modified on the basis of the usage of doping materials.
Based on Shapes, the market is divided into disks, rings, plates, tubes/cylinders, and others. The ring segment is anticipated to expand at a CAGR of 6.1%, in terms of value, during the forecast period, due to owing to its increasing adoption in the healthcare sector, as it is extensively used in phacoemulsification, ultrasonic scalpel, debriding, cauterization, therapeutic ultrasound, and ultrasonic aspirators.
In terms of Applications, the market is segregated into industrial & manufacturing, aerospace & automotive, consumer electronics, medical, military, and others. In terms of value, the industrial and manufacturing segment is expected to grow at a CAGR of 5.3% during the forecast period, piezoelectric elements are used in piezoelectric motors, actuators, sensors, and transducers, which have a variety of uses in industrial practices. Growing demand for miniaturization, precision, and high accuracy in the manufacturing industry.
Based on Region, the global piezoelectric elements market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to hold a significant share of the market. Asia Pacific has emerged as a manufacturing hub for consumer goods and electronics. Countries such as Japan, China, Taiwan, South Korea, and India are focusing on expanding their production capabilities, which in turn, is driving the demand for piezoelectric elements in the region. The market in Europe is projected to expand at a CAGR of 6.3% during the forecast period, owing to the presence of lucrative healthcare, industrial & manufacturing, and automotive industries in the region. These elements are used in products such as ultrasound devices and diagnostic and therapeutic equipment and surgical tools. Furthermore, the presence of market players such as such as PI Ceramic GmbH in the region is driving the market in Europe.
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Key Takeaways from the Study:
- The players including KYOCERA Corporation, PZT Electronic Ceramic Co. Ltd., CTS Corporation, PI Ceramic GmbH hold significant share of global m piezoelectric element market in year 2019.
- Asia Pacific is a promising region for the market. The market in this region is expected to grow in the coming years owing to the presence of various market players in the region.
- In terms of value, the PZT-based (lead zinc titanates) segment is expected to grow at a CAGR of 6.2% during the forecast period, as it is used for manufacturing actuators and transducers, as the performance of the element is easily modified on the basis of the usage of doping materials.
- In terms of value, the industrial and manufacturing segment is anticipated to expand at a considerable CAGR, during the forecast period, as piezoelectric elements are used in piezoelectric motors, actuators, sensors, and transducers, which have a variety of uses in industrial practices. Growing demand for miniaturization, precision, and high accuracy in the manufacturing industry.
Read 210 Pages Research Report with Detailed ToC on "Global Piezoelectric Elements Market By Types (PZT-Based, PMN-Based, and Others), Applications (Industrial & Manufacturing, Aerospace & Automotive, Consumer Electronics, Medical, Military, and Others), Shapes (Disks, Rings, Plates, Tubes/Cylinders, and Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Key Segments Covered
By Types
- PZT-Based (Lead Zinc Titanates)
- PMN-Based (Lead Magnesium Niobate)
- Others
By Shapes
- Disks
- Rings
- Plates
- Tubes/Cylinders
- Others
By Applications
- Industrial & Manufacturing
- Aerospace & Automotive
- Consumer Electronics
- Medical
- Military
- Others
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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