According to a recent market study published by Growth Market Reports, titled, “Global Piezoelectric Elements Market - by types, by applications, by shapes, and by Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 602.1 Million in 2020 and is expected to grow at a moderate growth rate of 7.7% by the year 2028. The rising adoption of piezoelectricity in industrial application, increasing automation in end-use industries such as electronics and automotive, and increasing use of piezoelectric elements in aircraft wings is expected to fuel the market growth during the forecast period.

The piezoelectric element is an electromechanical transducer, which is made using piezoelectric materials of a definite shape and angle, relative to crystallographic axes. Mechanical energy is transformed into electrical and electrical into mechanical using crystallographic axes. These elements have a unique characteristic: the element vibrates or elongates when an external voltage is applied, similar to the electricity generated when external density is applied. Types of the piezoelectric element include PZT-based lead zinc titanates, PMN-based lead magnesium niobate, and others.

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The global piezoelectric element market is fragmented based on types, applications, shapes, and regions. On the basis of types, the piezoelectric element market is segmented into PZT-based (lead zinc titanates), PMN-based (lead magnesium niobate), and others. In terms of applications, the market is segregated into industrial & manufacturing, aerospace & automotive, consumer electronics, medical, military, and others. On the basis of shapes, the global piezoelectric element market is classified as disks, rings, plates, tubes/cylinders, and others. Based on regions the global piezoelectric element market has been fragmented into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa.

The piezoelectric element market is projected to witness a slight increase in Year-on-year growth for 2020 as compared to for previous year 2019. Rising adoption of piezoelectricity in industrial application of piezoelectric element in 2020 is supporting growth of the market in 2020. The piezoelectric element market is growing at a significant pace due to increasing automation in end-use industries such as electronics and automotive, and increasing use of piezoelectric elements in aircraft wings.

As per Growth Market Reports industry analyst Rajas Shirwalkar, “The global piezoelectric element market is anticipated to witness moderate growth during forecast period 2021-2028. The piezoelectric element market is registering growth opportunities across the globe, owing to the rising adoption of piezoelectricity in industrial application, increasing automation in end-use industries such as electronics and automotive, increasing use of piezoelectric elements in aircraft wings, and rising spending on aerospace & defense devices such as missile guidance systems, drones, and radars are expected to drive the demand for piezoelectric element.”

The Coronavirus disease 2019 (COVID-19) pandemic has highlighted economic disparities in the global demand in the crises of global interdependence and governance challenges. Epidemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. According to the current pandemic situation, strict measures are required for monitoring the situation, which in turn, affect businesses causing unanticipated short and long-term effects. Consequently, epidemics and pandemics are problems for individual market and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally.

Key Takeaways from the Study

  • The players including KYOCERA Corporation, PZT Electronic Ceramic Co.,Ltd, CTS Corporation, PI Ceramic GmbH hold significant share of global m piezoelectric element market in year 2019.
  • Asia Pacific is a promising region for the market. The market in this region is expected to grow in the coming years owing to the presence of various market players in the region.
  • In terms of value, the PZT-based (lead zinc titanates) segment is expected to grow at a CAGR of 6.2% during the forecast period, , as it is used for manufacturing actuators and transducers, as the performance of the element is easily modified on the basis of the usage of doping materials.
  • In terms of value, the industrial and manufacturing segment is anticipated to expand at a considerable CAGR, during the forecast period, as piezoelectric elements are used in piezoelectric motors, actuators, sensors, and transducers, which have a variety of uses in industrial practices. Growing demand for miniaturization, precision, and high accuracy in the manufacturing industry.

Report Scope

Report Metric

Details

Market Value in 2020

US$ 602.1 Million

Market Growth Rate (from 2020 to 2027)

7.7%

Historical Data

2018, & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

By types, by applications, by shapes, and by Regions

Regional Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies Profiled

KYOCERA Corporation, PZT Electronic Ceramic Co.,Ltd., CTS Corporation, PI Ceramic GmbH, CTDCO, Fuji Ceramics Corporation, Piezo Technologies, BeStar Electronics Co., Ltd, TRS Technologies, Inc., and Kinetic Ceramics

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Manufacturers, raw material suppliers, and distributors
  • Demand Side: aerospace & automotive, consumer electronics, medical, military, and others
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.