Mar 01, 2019
Piezoelectric Devices Market to Witness Impressive Growth; Aerospace and Defense Sector Remains a Key Contributor, Unveils Fact.MR
by Team Fact.MR
Worldwide demand for piezoelectric devices has witnessed significant leaps in recent years, owing to its use across applications multiple industrial as well as manufacturing units. Deployment of piezoelectric devices across multiple industries to serve a diverse set of requirements, ranging from quality assurance to research and development, is contributing to the overall market growth. Particulars as such position the growth of piezoelectric devices market for a bullish run in the upcoming years.
Scaling Demand for Functional Devices Fosters Piezoelectric Devices Demand
Advances in nanotechnology for integration with piezoelectric devices has been identified as one of the key trends in the piezoelectric devices market space. The future-gen customers are anticipated to be highly oriented toward smart devices, portraying the convergence of intelligence with performance. The piezoelectric motor market is likely to witness steady growth over the course of the forecast period.
Rising trend of miniaturization of devices and amelioration of accuracy quo is also creating profit-making opportunities for the market players of piezoelectric devices. Among all the end-use segments, the aerospace and defense sector remains one of the highly-promising ones with rising demand for highly functional devices. Rising use of piezoelectricity in case of course-changing bullets and micro-robotics is also creating multiple revenue streams for the market players to tap into.
Rising application in the processes of ultrasonic cleaning and welding is also spurring piezoelectric devices’ sales by a notable margin. Resurging demand from the automotive sector combined with technological developments and refurbishments is also creating favorable circumstances for the piezoelectric devices demand.
Among all the product types, piezoelectric motors have registered exponential growth in the recent past by a notable margin. With rising application of piezoelectric motors in multiple areas including pumps, medical devices, laboratory automation, prosthetics, robotics, the key market players remain highly focused on crafting new products imparting high torque in a stipulated amount of time.
Rapid evolution of the production framework has necessitated the adoption of efficient motion control systems, with high accuracy, speed, and resolution. Demand for piezoelectric motors is not likely to slow down anytime soon and is rather set to scale new heights, owing to consumer demand for an enhanced version of the conventional motors.
Telecommunication to Offer Lucrative Business Opportunities for Market Players
Apart from the automotive and manufacturing ecosystems, demand for piezoelectric devices is also increasing in the field of medical instruments and telecommunication industry. Deployment of piezoelectric devices, such as piezoelectric sensors, for ultrasonic imaging and other related procedures are creating latent opportunities for the manufacturing companies.
Telecommunication industry has also been identified to register a major chunk of demand for piezoelectric devices for use in devices such as laptops, cellular phones, and inkjet printers. Booming field of energy harvesting is another promising application that is likely to create new grounds for large-scale deployment of piezoelectric technology in the foreseeable future.
The clamor for standard linear piezoelectric devices is poised to remain high in the field of general automation, semiconductor industry, and machine tools. Manufacturers involved in the positioning applications are increasingly seeking linear piezoelectric devices over conventional variants, to decrease the rate of failures and is enhance the optimal performance quo.
Manufacturers of piezoelectric devices are adopting new strategies to come up with efficient products, which would best serve the interests of end-users. Furthermore, manufacturers are also making hefty investments in research and development activities to foster product innovation resulting in influx of new products with advanced features and functionalities. Moreover, intensification of production capacities also remains a key area of focus of the manufacturing companies, which would help the manufacturers bridge the gap in the demand-supply equation.