Piezoelectric Devices Market Highlights:
Piezoelectric devices market is used for converting mechanical energy into electrical energy or vice-versa. The growing application scope of these devices in turn is creating attracting opportunities. As per the report published by Market Research Future (MRFR), the global piezoelectric devices market is expected to witness a healthy growth between 2016 and 2022.
Increased emphasis of converting sound, light or mechanical pressure into electrical energy is driving the demand for piezoelectric devices. These devices are in microphone, ultrasound equipment, clocks, watches etc. The growing energy consumption worldwide is contributing to the growth of the market.
Factors such as arrival of smartphone, internet boom and IoT adoption augured well for the global Piezoelectric Devices Market. The growing commercial interest in technologies that help in generating energy using different source is also benefiting the market. Over the years, efforts towards developing technologies that can converting mechanical energy into electric energy have increased significantly. Technologies that can convert body movement into electric energy that can charge mobile phone, power streetlights, etc. are expected make considerable headways in the future.
A slew of wearable gadgets has come up in recent years that are capable of generating small amounts of electric energy from body movements. The increased level of environmental consciousness has led to adoption of technologies that generate clean energy. Investments towards harvesting clean energy is expected to growth further in the years to come. The factors mentioned above are expected to support the market growth during the forecast period.
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The global priezoelectric devices market is witnessing in flow of new companies that are vying to capture a share of the market, which is growing at an impressive rate. Companies operating in the market are implementing growth strategies such as merger & acquisition and collaboration & partnerships. Many market players are also focusing on production innovation and expand product portfolio.
Global Piezoelectic Devices Market: Competition Analysis
Some of the top-notch companies discussed in the MRFR’s report include Morgan Advanced Materials (UK), Mad City Labs, Inc. (U.S.), APC International, Ltd. (U.S.), CeramTec (Germany), PI (Germany), Piezo Systems, Inc. (U.S.), Piezosystem Jena (Germany), Noliac A/S (Denmark) and Piezomechanik Dr. Lutz Pickelmann GmbH (Germany).
Global Piezoelectic Devices Market: Segmental Analysis
The segmental analysis of the market has been conducted based on verticals and application. On the basis of verticals, the market has been segmented into automotive, medical & healthcare, oil & gas, communication, aerospace & defence and others. On the basis of application, the market has been segmented into transducers, motors, energy harvesting, sensors, high voltage actuators and others.
Global Piezoelectic Devices Market: Regional Analysis
Asia Pacific leads the global piezoelectric devices market in terms of value. This is mainly owing to increased investor confidence and position economic indicators in APAC. Moreover, access to cost-competitive logistics, which include workforce, raw material, land among others is prompting manufacturers to shift their production facilities to APAC countries such as China, Vietnam, India among others. Such factors contributing to the growth of the piezoelectric device market in the Asia Pacific. In investment in research & development pipelines coupled with the expanding application scope of the piezoelectric devices is also influencing the market growth in the region. Local policy makers in the region are focusing on boosting manufacturing sector, which is creating new revenue pocket for market players operating in APAC.
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Europe and North America are the two other high profit-making market for piezoelectric devices. In Europe, countries such as Germany, France and the UK are expected to significant contribution to the region’s market during the forecast period. Whereas, the North America market is driven the rapid uptake of new technologies across industrial domains.
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