The global piezoelectric device market to grow from USD 23.54 Billion in 2016 to USD 31.33 Billion by 2022, at a CAGR of 4.88% between 2016 and 2022.
The increasing application areas for piezocomposite materials in industries and emerging energy harvesting techniques using nonconventional energy sources such as body and facial movements are creating a huge demand for the piezoelectric device market across the world. The major factors driving the growth of the piezoelectric device market include increasing use of piezoelectric devices for energy harvesting applications and increasing funding from government and other investors into the market. Furthermore, the rising automotive sector is expected to drive the market for piezoelectric motors and actuators in the coming years.
The market for piezoceramics held the largest share in the piezoelectric device market owing to its high piezoelectric sensitivity and ability to acquire desired shapes and sizes. Currently, the most widely used piezoelectric ceramic material is lead-zirconate-titanate (PZT). It is used in a variety of applications such as healthcare, industrial and manufacturing, and automotive, among others.
The global market for piezoelectric actuators and piezoelectric motors is expected to witness a significant growth during the forecast period owing to the benefits like reliability and cost-effectiveness offered by piezoelectric actuators and motors. Increase in demand for ultraprecision motion devices used for purposes such as manufacturing, structural health monitoring, and nondestructive testing and in industries such as automotive and consumer electronics is expected to boost the market during the forecast period. The market for piezoelectric actuators has potential of further development and growth in areas such as autofocus assemblies required in phone cameras, fuel injectors used in the automotive sector, and precision movement application in microelectronics production.
- Aerotech Inc.
- APC International, Ltd.
- Ceramtec Gmbh
- CTS Coporation
- Exelis, Inc.
- Mad City Labs Inc.
- Morgan Advanced Materials
- Physik Instrumente (PI) Gmbh & Co. Kg.
- Piezo Solutions
- Piezomechanik Dr. Lutz Pickelmann Gmbh
- Piezosystem Jena Gmbh
- US Eurotek, Inc.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Piezoelectric Device Market, by Product
8 Piezoelectric Devices Market, by Material
9 Piezoelectric Devices Market, by Application
10 Geographical Analysis
11 Competitive Landscape
12 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/fg5xkx/piezoelectric
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/piezoelectric-device-market-to-reach-3133-billion-by-2022-increasing-use-of-piezoelectric-devices-for-energy-harvesting-applications---research-and-markets-300397320.html
SOURCE Research and Markets