The need to find viable alternatives to conventional energy sources is estimated to drive the piezoelectric devices market 2020. The SEM industry reports are produced by Market Research Future, which highlights market options for expansion. The market is anticipated to display a remarkable CAGR in the upcoming period.
The elevated levels of electric generation are estimated to push the development of the piezoelectric devices market in the impending period. Furthermore, the popularity of the concept of energy harvesting is predicted to create further new and profitable opportunities for the piezoelectric devices market. The present surge in demand from the healthcare sector due to the pandemic is likely to create lucrative expansion opportunities for players in the piezoelectric devices market.
The segmental investigation of the piezoelectric devices market is conducted on the basis of application, vertical, and regions. Based on the type of applications, the piezoelectric devices market is segmented into energy harvesting, sensors, motors, transducers, and high voltage actuators, among others. On the basis of verticals, the piezoelectric devices market is segmented into automotive, aerospace & defense, medical & healthcare, oil & gas, and communication, among others. On the basis of regions, the piezoelectric devices market is segmented into Europe, APAC, North America, and other regions.
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Detailed Regional Analysis
The regional scrutiny of the piezoelectric devices market includes Europe, APAC, North America, and other regions. The regional market in the Asia Pacific region governs the piezoelectric devices market with a noteworthy market share, due to massive funding from overseas investors. Besides, the ease of use of cost-competitive logistics such as abundant land, raw materials, and workforce are encouraging the producers to shift their manufacturing bases to nations such as China and India. The steadily rising investments in R&D and developing application areas of the piezoelectric devices are a few of the essential driving forces at the back of the augmentation of the piezoelectric devices market. Concurrently, the escalating investment pull in advance of these devices, in particular in nations of India and China, are ensuing in the creation of a large income pocket for the region. The European regional market is another important market for piezoelectric devices. Incessant advance in warfare platforms with new and highly developed technologies is a strategic driving factor liable for the augmentation of the regional market. The European countries such as the U.K. and Germany are backed by the enormous investments
The currency inflow is estimated to be restricted in the upcoming period, which may create further problems for the overall market growth. Advances in production style and technologies are estimated to gain precedence in the coming years as areas of innovation. The support provided by regulations is estimated to stave off the effects of the downturn considerably in the coming period. Current disequilibrium in the market forces has led to the market players adopting a more cautious approach to growth and development strategies. The expansion of the market has currently come close to a standstill with government agencies and trade bodies, introducing a stimulus to pick up the pace of development in the global market. The planning and forecasting for human capital in the market is estimated to be a crucial area for focus in the years ahead. The recalibration of the supply chain is estimated to be another area for market expansion in the upcoming period.
The outstanding companies in the piezoelectric devices market are Mad City Labs, Inc. (U.S.), P.I. (Germany), Noliac A/S (Denmark), Piezosystem Jena (Germany), Morgan Advanced Materials (U.K.), Piezomechanik Dr. Lutz Pickelmann GmbH (Germany), APC International, Ltd. (U.S.), CeramTec (Germany), Piezo Systems, Inc. (U.S.) among others.
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