Lucintel Forecasts Piezoelectric Device Market to Grow at a CAGR of 10% to 12% from 2021 to 2026

According to the recent study the piezoelectric device market is projected to grow at a CAGR of 10% to 12% from 2021 to 2026. Growth in this market is primarily driven by increasing demand for piezoelectric devices for energy harvesting and aerospace & defense applications, and growing R&D investments.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in piezoelectric device market by product type (piezoelectric sensors, piezoelectric actuators, piezoelectric motors, piezoelectric transducers, piezoelectric generators), material (piezoelectric crystals, piezoelectric ceramics, piezoelectric polymers, and piezoelectric composites), end use industry (aerospace and defense, industrial and manufacturing, automotive, healthcare, information & communication, and consumer electronics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Actuators market is expected to remain the largest segment during the forecast period.”

Based on product type, the piezoelectric device market is segmented into piezoelectric sensors, piezoelectric actuators, piezoelectric motors, piezoelectric transducers, piezoelectric generators. Lucintel forecasts that the actuators market is expected to remain the largest segment due to less heat dissipation, less power consumption, fast response, high actuating precision, compact size, high reliability, and low cost.

“Within the piezoelectric device market, the aerospace and defense segment is expected to remain the largest end use industry.”

Based on end use industry the aerospace and defense segment is expected to witness the highest growth over the forecast period due to increasing adoption of piezoelectric device-based products such as sensors, actuators, and motors for aerospace & defense applications.

“Asia pacific will dominate the piezoelectric device market in near future.”

Asia Pacific will remain the largest region over the forecast period due to increasing government initiatives, rising foreign investments, growing population, along with the bulk manufacturing facilities of piezoelectric devices.

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Major players of piezoelectric device market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. L3HARRIS TECHNOLOGIES, INC., CeramTec GmbH, CTS CORPORATION, Physik Instrumente (PI) GmbH & Co. KG. and APC International, Ltd. are among the major piezoelectric device providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/piezoelectric-device-market.aspx or helpdesk@lucintel.com.

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Contact:
Brandon Fitzgerald
Lucintel
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Email: brandon.fitzgerald@lucintel.com
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