| The report “Piezoelectric Ceramics Market by Type (Barium Titanate, Potassium Niobate, Sodium Tungstate, Lead Zirconate Titanate), End user (Consumer Electronics, Industry & Manufacturing, Automotive, Medical), and Region – Global Forecast to 2028″, is projected to reach USD 1.8 billion by 2028, at a CAGR of 4.9% from USD 1.4 billion in 2023. The major drivers for the piezoelectric ceramics market are rising demand of piezoelectric energy harvesting technology, rising demand from medical sectors, and growing need for high-performance sensors. The high cost of piezoelectric ceramics material is the major restraint in this market. Opportunities for the market include rapid innovation in automotive industry.
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Some of the prominent key players are: · KYOCERA Corporation (Japan) · CeramTec GmbH (Germany) · CTS Corporation (US) · Murata Manufacturing Co., Ltd (Japan) · TDK Corporation (Japan) · Physik Instrumente (PI) · GmbH & Co. (Germany) Opportunity: Emergence of Internet of Things (IoT) technology The IoT revolution is driving the demand for sensors and actuators that enable connectivity and intelligence in various applications. Piezoelectric ceramics can provide accurate and responsive sensing capabilities for IoT devices, such as environmental monitoring, structural health monitoring, and smart home systems. The IoT is a network of interconnected devices and systems that collect, exchange, and analyse data to enable intelligent decision-making and automation. Piezoelectric ceramics play a vital role in this ecosystem due to their unique sensing capabilities and energy-harvesting potential. The IoT relies on a wide array of sensors to gather data from the physical world. Piezoelectric ceramics can convert mechanical strain, pressure, or vibrations into electrical signals, enabling accurate and responsive sensing. In the IoT ecosystem, piezoelectric sensors find applications in environmental. By end-use industry, automotive segment is the third largest in piezoelectric ceramics market, in 2022. The automotive industry is one of the largest and most significant sectors for the application of piezoelectric ceramics. ADAS technologies, including collision detection, lane departure warning, and adaptive cruise control, rely on accurate sensing and actuation capabilities. Piezoelectric ceramics are employed in these systems for their ability to convert mechanical signals into electrical signals, enabling precise detection and response to environmental changes. Asia Pacific is projected to be fastest growing amongst other regions in the piezoelectric ceramics market market, in terms of value. Based on the region, the piezoelectric ceramics market is segmented into Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Currently, Asia Pacific is the fastest growing market for piezoelectric ceramics. Asia Pacific is known as a global manufacturing hub, with countries like China, Japan, South Korea, and Taiwan leading in the production of various electronic components. This region’s strong manufacturing capabilities and expertise make it an ideal location to produce piezoelectric ceramics. The presence of a well-established supply chain, skilled labor, and advanced manufacturing infrastructure contributes to the growth of the piezoelectric ceramics market in the region. |
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