The rising demand for piezoelectric devices for energy harvesting is among the factors driving the growth of the piezoelectric devices market. The piezoelectric actuators segment held the major share of the piezoelectric devices market in 2020, and this trend is expected to continue during the forecast period.
New York, July 07, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Piezoelectric Devices Market with COVID-19 Impact Analysis by Material, Product, Application And Region - Global Forecast to 2026" - https://www.reportlinker.com/p04648404/?utm_source=GNW
In 2020, piezoelectric actuators held the largest size of the piezoelectric devices market, and a similar trend is likely to be observed during the forecast period.The growth can be attributed to several benefits offered by them, including less heat dissipation, less power consumption, fast response, high actuating precision, compact size, high reliability, and low cost.
In addition, piezoelectric actuators are highly power-efficient tools with excellent rotational speed. Owing to these benefits, they are widely used in various industries such as aerospace & defense, automotive, industrial and manufacturing, and healthcare.
The market for piezoelectric polymers is expected to grow at the highest CAGR during the forecast period
The market for piezoelectric polymers is expected to grow at the highest CAGR during the forecast period.The growth is attributed to the rising adoption of polymers in the healthcare industry due to their benefits such as low fabrication cost, lightweight, and fast processing speed.
In addition, their adoption in biological applications, such as bio-signal acquisition and tissue regeneration/repair, supports the growth of the market for piezoelectric polymers.
The aerospace and defense segment held the largest share of the piezoelectric devices market
The aerospace and defense application held the largest size of the piezoelectric devices market in 2020 owing to the increasing adoption of piezoelectric devices in the aerospace and defense industry to reduce harsh effects caused due to environmental conditions. Also, piezoelectric devices are preferred for non-destructive testing (NDT) and structural health monitoring of aircraft and airplane parts.
Based on region, APAC is expected to account for the largest share of the piezoelectric devices market by 2026
In 2026, APAC is projected to hold the largest share of the overall piezoelectric devices market.The market in APAC is expected to grow at the highest CAGR during the forecast period.
The major factor contributing to this growth is technological developments and a major focus on energy harvesting in countries such as China, Japan, and South Korea.China and Japan are industrial hubs that house numerous electronic equipment, devices, components, automotive, and other industries, which require piezoelectric devices for reducing the overall energy consumption.
Moreover, the industrial transformation toward digitalization is expected to transform manual processes into digital processes in the manufacturing industries.This is expected to increase the demand for highly advanced and miniatured electronic devices and products.
Thus, it is expected to support the growth of the piezoelectric devices market in the future.
In-depth interviews have been conducted with chief executive officers (CEOs), marketing managers, and other executives from various key organizations operating in the piezoelectric devices marketplace.
• By Company Type: Tier 1 – 45%, Tier 2 – 35%, and Tier 3 – 20%
• By Designation: C-level Executives – 32%, Managers – 40%, and Others – 28%
• By Region: North America – 37%, Europe – 15%, APAC – 40%, and RoW – 8%
L3HARRIS TECHNOLOGIES, INC. (US); 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) are some of the key players in the piezoelectric devices market.
The study includes an in-depth competitive analysis of these key players in the piezoelectric devices market, with their company profiles, recent developments, and key market strategies.
The report defines, describes, and forecasts the piezoelectric devices market based on product, material, application, and region.It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the piezoelectric devices market.
It also analyzes product launches, expansions, partnerships, collaborations, contracts, and merger and acquisitions, carried out by the key players to grow in the market.
Key Benefits of Buying the Report
This report will help market leaders/new entrants in this industry with information on the closest approximations of the revenue numbers for the overall piezoelectric devices market and the subsegments.The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report will also help stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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