Global Piezoelectric Device Market Research and Forecast 2018-2023
Posted by Orion Market Research on July 10th, 2018
Piezoelectric device market are the devices made up of piezoelectric substances. Piezoelectric substances can change their shape and size when subjected to mechanical strain, additionally they also have tendency to generate electricity. Zircanate, Titanate, Piezo crystals, and Piezo polymers are some of the commonly used piezoelectric substances. Wide applications of piezoelectric devices and technological advancement of the Nano technology are the major factors that are driving the growth of the across the globe.
Increasing applications in medical & automotive and rising application of Nano technology are estimated to be the primary factors for driving the growth of the market. In addition, advancement in high speed communications are also estimated to contribute towards the growth of the market. Piezoelectric devices are widely used in the manufacturing of sensors that are used widely in automotive such as knock sensors, distance sensors and so on. Furthermore, other applications of piezoelectric devices in automotive such as usage in air bag sensors, anti-lock braking and so on.
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However, there are certain factors that are hindering the growth of the market. The high cost of raw material that is being used for the development of the piezoelectric devices and government policies to reduce the lead consumption in some countries are estimated to be one of the major constraints in the growth of the market. Due to this, new opportunities can be found out in lead free components. Some lead-free components are Bismuth ferrite, Barium titanate, Barium titanate, Bismuth titanate Increasing awareness towards energy harvesting, use of piezo motion technology and its wide application are developing myriad growth opportunities for the growth of the market during forecast period.
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The market has been segmented on the basis of application, material and product. The piezoelectric devices find application in various industry. The major industry where it finds application are aerospace, automotive, industrial and manufacturing, communication, medical, military and defence. Automotive and industrial is expected to have the major market share across the globe. The material of piezoelectric devices can be naturally occurred or synthetic derived. Naturally occurring piezoelectric material are Quartz, Berlinite, Sucrose, Rochelle salt, Topaz, Tourmaline-group minerals and Lead Titanate. Synthetic crystal includes Langasite, a quartz-analogous crystal, Gallium orthophosphate, Lithium Niobate, Lithium tantalite and so on. Synthtic crystal is expected to show a significant market growth in the near future. A synthetic piezoelectric material can be crystals, ceramics, polymer and composite. By products the market is divided into actuators, acoustic devices, motors, transducers, generators, resonators, and sensors. Piezoelectric sensor market is expected to have the largest market share across the globe. The major reason behind the market share is high application of sensor in automotive, medical, military and other segments.
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