Piezoceramic Discs Market to Reach $5.4 Billion, Globally, by 2032 at 6.6% CAGR: Allied Market Research
Wednesday, September 13, 2023
The global piezoceramic discs market is driven by the growth in demand for piezoelectric sensors and actuators from various end-use industries paired with an increase in the adoption of piezoelectric devices for application.
PORTLAND, Ore., Sept. 5, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Piezoceramic Discs Market by Type (Below 10mm, 10mm to 50mm, and Above 50mm), and Application (Sensor and Actuators, Energy Harvesting, Medical Device, Industrial Applications, and Consumer Electronics): Global Opportunity Analysis and Industry Forecast, 2022-2031". According to the report, the global Piezoceramic Discs industry generated $2.9 billion in 2022 and is anticipated to generate $5.4 billion by 2032, witnessing a CAGR of 6.6% from 2023 to 2032.
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The number of applications of piezoelectricity in everyday electronic devices is growing at a steep rate. Piezo discs are capable to operate in high temperatures and environments while yielding high frequency and transient response. Piezoelectric discs can be manufactured in two ways - unimorph and bimorph.
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Prime determinants of growth
The global piezoceramic discs market is driven by an increasing adoption of piezoelectric devices for application paired with the rising demand for piezoelectric inkjet print heads from the printing industry. However, the high cost associated with the raw materials for piezoceramic discs, limits their adoption, thereby hampering the market growth. On the contrary, the rising demand for piezoelectric devices in developing applications and growing demand for piezoelectric sensors and actuators from various end-use industries are expected to offer remunerative opportunities for the expansion of the global market in the coming future.
Report coverage & details:
Report Coverage
Details
Forecast Period
2023-2032
Base Year 2022
Market Size in
2021
$2.9 billion
Market Size in
2031
$5.4 billion
CAGR 6.6 %
No. of Pages in
Report 212
Segments Covered
Type, Application, and Region.
Drivers Growth in demand for piezoelectric sensors and actuators from various
end-use industries
Rise in demand for piezoelectric inkjet print heads from the printing
industry
Increase in adoption of piezoelectric devices for application
Opportunities
High cost of raw materials for piezoceramic discs
Restraints Rise in demand for piezoelectric devices in developing applications
Covid-19 Scenario
-- Due to the COVID-19 pandemic, the piezoceramic discs market experienced
supply chain disruptions and shortages of certain materials, leading to
production delays and increased prices.
-- However, the demand for piezoceramic discs-based applications continued
to grow, particularly in the areas of industrial and consumer
electronics, which helped to mitigate the negative impact of the
pandemic.
The above 50mm segment to maintain its leadership status throughout the forecast period.
Based on type, the above 50mm segment held the highest market share in 2022, accounting for around two-fifths of the global piezoceramic discs market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, this segment is projected to grow at a high CAGR of 7.6% from 2023 to 2032, owing to surge in demand for underwater communication and sonar system.
The sensor and actuators segment to maintain its leadership status throughout the forecast period
Based on application, the sensor and actuators segment held the highest market share in 2021, accounting for more than two-fifths of the global piezoceramic discs market, and is expected to follow the same trend throughout the forecast period of 2023-2032. However, the consumer electronics segment is projected to manifest the highest CAGR of 8.7% from 2023 to 2032. The market for piezoceramic discs used in consumer electronics is being driven by the demand for accurate actuation, sensing, and power generation in smartphones, wearables, and other devices.
North America region to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly half of the global piezoceramic discs market revenue, and is likely to dominate the market during the forecast period. This region also held the major CAGR of 7.0% in 2032. The rapid growth of industries in the Asia-Pacific region that use piezoelectric sensors and actuators, such as automotive, consumer electronics, and medical devices, is driving the demand for thinner, higher-performance piezoceramic discs that can provide faster actuation, more accurate positioning, and greater energy harvesting capabilities to power miniature devices, while advancements in piezoceramic material compositions and nanofabrication techniques are opening up a new application.
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Leading Market Players: -
-- PI Ceramic
-- Murata
-- TDK Corporation
-- Taiyo Yuden
-- Sparkler Ceramics
-- CeramTec
-- Fuji Ceramics Corporation
-- Physik Instrumente (PI)
-- Micromechatronics Inc.
-- American Piezo Ceramics, Inc
The report provides a detailed analysis of these key players in the global piezoceramic Discs market. These players have adopted different strategies such as new product launches, collaborations, acquisitions, Expansion, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders
-- This report provides a quantitative analysis of the market segments,
current trends, estimations, and dynamics of the piezoceramic discs
market analysis from 2022 to 2032 to identify the prevailing
piezoceramic discs market opportunities.
-- The market research is offered along with information related to key
drivers, restraints, and opportunities.
-- Porter's five forces analysis highlights the potency of buyers and
suppliers to enable stakeholders make profit-oriented business decisions
and strengthen their supplier-buyer network.
-- In-depth analysis of the piezoceramic discs market segmentation assists
to determine the prevailing market opportunities.
-- Major countries in each region are mapped according to their revenue
contribution to the global market.
-- Market player positioning facilitates benchmarking and provides a clear
understanding of the present position of the market players.
-- The report includes the analysis of the regional as well as global
piezoceramic discs market trends, key players, market segments,
application areas, and market growth strategies.
Piezoceramic Discs Market Key Segments:
By Type
-- Below 10mm
-- 10mm to 50mm
-- Above 50mm
By Application
-- Sensor and Actuators
-- Energy Harvesting
-- Medical Device
-- Industrial Applications
-- Consumer Electronics
By Region
-- North America (U.S., Canada, Mexico)
-- Europe (UK, France, Spain, Italy, Rest of Europe)
-- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
-- LAMEA (Latin America, Middle East, Africa)
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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