DUBLIN, Dec. 17, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/cxk25b/piezoelectric) has announced the addition of the "Piezoelectric Devices Market - Global Trend & Forecast to 2020" report to their offering.
This report forecasts the global piezoelectric devices market to reach USD 27.24 Billion by 2020 from USD 20.35 Billion in 2015, growing at a CAGR of 6.01% between 2015 and 2020.
There is a rising demand for piezocomposite materials for industrial applications. Moreover, emerging energy harvesting techniques using non-conventional energy source such as body and facial movements are creating a huge demand for piezoelectric devices worldwide. The major factors driving the growth of the piezoelectric devices market further include the increasing government and investor funding in the market as well as the growing automotive sector.
The global piezoelectric actuators and motors market is expected to witness a significant growth during the forecast period owing to the benefits such as reliability and cost effectiveness offered by piezoelectric actuators and motors. The increase in demand for ultra-precision motion devices used in industries such as manufacturing, structural health monitoring, non-destructive testing, automotive, and consumer electronics is expected to drive the market during the forecast period.
The piezoelectric actuators market has possibilities to further grow in the areas of autofocus assemblies required in phone cameras, fuel injectors used in the automotive sector, and precision-movement applications in microelectronics production.
In the global piezoelectric devices market, APAC held the highest share in 2014. Globally, the largest amount of research on piezoelectric materials and devices is undertaken in Japan. Several experiments on microscale applications of piezoelectric technology have been carried out in Japan, including the usage of this technology in floors of train stations to generate electricity. Owing to this, the market in APAC is expected to grow at the highest rate in the coming years.
Some of the factors that hinder the growth of the market for piezoelectric devices include the high cost of materials used in manufacturing piezoelectric products, high R&D cost related to the development of piezo products, and legal restrictive measures that restrict the use of lead in these products.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Piezoelectrical Device Market, By Material
8 Piezoelectric Devices Market, By Product
9 Piezoelectric Devices Market, By Application
10 Regional Analysis
11 Competitive Landscape
12 Company Profiles
- APC International Ltd.
- Ceramtec GmbH
- Exelis, Inc.
- MAD City Labs, Inc.
- Morgan Advanced Materials
- Physik Instrumente
- Piezo Solutions
- Piezo Systems, Inc.
- Piezomechanik GmbH
- Piezosystem Jena GmbH
- Us Eurotek, Inc
For more information visit http://www.researchandmarkets.com/research/cxk25b/piezoelectric
Laura Wood, +353-1-481-1716, email@example.com
SOURCE Research and Markets