CHICAGO, July 12, 2023 /PRNewswire/ -- 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.
Browse in-depth TOC on "Piezoelectric Ceramics Market"
200 – Tables
50 – Figures
250 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=146130307
"Barium titanate segment is projected to be second fastest CAGR by type, in terms of value, during the forecast period."
Barium Titanate is gaining traction as a lead-free alternative to conventional piezoelectric materials like Lead Zirconate Titanate (PZT). As environmental concerns and regulations regarding lead-based materials continue to rise, there is a growing demand for environmentally sustainable piezoelectric ceramics. Barium Titanate emerges as a viable solution for manufacturers and end-users who prioritize the use of lead-free materials, offering a suitable alternative. Barium titanate offers a wide range of operating temperatures, providing versatility in different environments. It has a Curie temperature (the temperature at which the material loses its ferroelectric properties) around 120-130°C, which allows it to be used in a broad temperature range compared to other piezoelectric ceramics. This characteristic expands the potential applications of barium titanate in industries that require operation in harsh or extreme temperature conditions.
"Industry & manufacturing segment is projected to be second fastest CAGR by end use industry, in terms of value, during the forecast period."
The demand for piezoelectric ceramics in the industry & manufacturing industry is witnessing a significant upsurge due to the growing demand of high-performance sensors. The industry and manufacturing sector often require sensors and actuators for various applications. Piezoelectric ceramics are widely used as sensors to measure parameters such as pressure, force, and vibration, providing precise and reliable data for process control and monitoring. Additionally, they are utilized as actuators for precise positioning, vibration control, and flow regulation in industrial machinery and equipment. The increasing automation and need for efficient control systems in the industry drive the demand for piezoelectric ceramics.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=146130307
"North America is expected to be the third largest growing market for piezoelectric ceramics during the forecast period, in terms of value."
The market for electric and hybrid vehicles is rapidly growing in North America. Piezoelectric ceramics are used in these vehicles for various applications, including battery management systems, regenerative braking systems, and acoustic sensors for detecting pedestrian presence. The increasing adoption of electric and hybrid vehicles in North America creates a significant demand for piezoelectric ceramics. The US is the second-largest automotive market, globally, after China. The automotive industry in the country is one of the largest globally. In 2021, vehicle production reached 9.1 million, as per the International Organization of Motor Vehicle Manufacturers (OICA). North America has a well-established automotive industry that focuses on advanced technologies and improved vehicle performance. Piezoelectric ceramics find applications in areas such as fuel injectors, automotive sensors, and active suspension systems, providing benefits such as fuel efficiency, enhanced safety features, and improved driving experience. The demand for such technologies in the automotive sector has contributed to the growth of piezoelectric ceramics in North America.
New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the piezoelectric ceramics market include KYOCERA Corporation (Japan), CeramTec GmbH (Germany), CTS Corporation (US), Murata Manufacturing Co., Ltd (Japan), TDK Corporation (Japan), Physik Instrumente (PI) GmbH & Co. (Germany), APC International, Ltd (US), L3Harris Technologies, Inc (US), HOERBIGER Motion Control GmbH (Germany), and Piezo Technologies (US).
Browse Adjacent Market: Ceramics and Glass Market Research & Consulting
Related Reports:
Automotive Ceramics Market- Global Forecast to 2022
Ceramic Coatings Market- Global Forecast to 2020
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/piezoelectric-ceramics-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/piezoelectric-ceramics.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/piezoelectric-ceramics-market-worth-1-8-billion-by-2028--exclusive-report-by-marketsandmarkets-301875153.html
Voltar noticias em Inglês