Portland, OR, Oct. 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Piezoelectric Sensor Market accrued revenue worth $2.2 billion in 2021, and will reach $3.9 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031. The market research report offers a comprehensive analysis of oscillating industry trends, top segments, value chains, major investment business scenarios, regional landscape, and competitive space. The study is a major source of information for giant players, entrepreneurs, owners, and managers in creating new business plans for the future and taking steps to improve their market position. The report demonstrates an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022-2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.2 Billion |
| Market Size in 2031 | $3.9 Billion |
| CAGR | 6.2% |
| No. of Pages in Report | 258 |
| Segments Covered | Sensor Type, Vibration Mode, Application Area, and Region. |
| Drivers | Surge in awareness about myriad applications of piezoelectric sensors in various sectors. |
| Increase in reliability on government laws pertaining to swift acceptance of sensing solutions in the automotive industry. | |
| Rise in use of piezoelectric sensors in the aerospace sector. | |
| Opportunities | A prominent demand for dependable and advanced sensing equipment in healthcare, automotive, IT, and aerospace sectors. |
| Restraints | Lack of proficient piezoelectric sensor stock management tools. |
Covid-19 Scenario
- The COVID-19 outbreak led to decline in piezoelectric equipment shipments and revenue from sale of piezoelectric sensors decreased during the pandemic, thereby severely impacting the growth of the global piezoelectric sensor market.
- Lack of availability of skilled workforce and delay and cancellation of projects due to lockdown restricted growth of the global market during the COVID-19 pandemic.
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The report offers an in-depth division of the global Piezoelectric Sensor Market based on Sensor Type, Vibration Mode, Application Area, and Region. It provides an in-depth investigation of every segment and sub-segment in tables and figures through which consumers can get insights into market trends. The market report analysis aids organizations, investors, and entrepreneurs in knowing which sub-segments are to be explored for achieving massive growth in the ensuing years.
Based on application area, the IT and Telecom segment contributed the largest market share in 2021, accounting for more than one-third of the overall share of the global Piezoelectric Sensor Market. Moreover, this segment is predicted to retain its dominant status during the forecast timeline. In addition, the same segment is slated to register the highest CAGR of nearly 8.4% from 2022 to 2031. The report also includes other segments such as industrial manufacturing, automotive, healthcare, aerospace and defense, oil and gas, and others.
In terms of the sensor type, the actuators segment accounted for the highest share of the global market in 2021, contributing nearly two-fifths of the overall share of the global Piezoelectric Sensor Market. Moreover, this segment is predicted to contribute the highest market share by 2031. Furthermore, the same segment is anticipated to register the fastest growth with a CAGR of nearly 8.3% during the forecast timeframe. The report also includes segments such as motors, transducers, and others segments.
On basis of the vibration mode, the radial mode segment accounted for a major share of the global market in 2021, contributing nearly two-fifths of the global Piezoelectric Sensor Market share. Moreover, the segment is set to maintain its dominance during the forecast period. In addition, this same segment is anticipated to record the fastest CAGR of nearly 7.9% from 2022 to 2031. The report also includes segments such as length mode, longitudinal mode, thickness mode, and shear mode.
Based on region, North America contributed the largest market share in 2021, accounting for more than one-third of the global Piezoelectric Sensor Market share. Moreover, the Asia-Pacific region is predicted to dominate the global market in 2031. Furthermore, the Asia-Pacific Piezoelectric Sensor Market is set to register the fastest CAGR of 6.5% during the assessment period. The report also includes other regions such as LAMEA and Europe.
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Major players of the global Piezoelectric Sensor Market profiled in the research report include Aerotech Inc., APC International, Ltd., CeramTec GmbH, CTS Corporation, Dytran Instruments, Inc., Honeywell International Inc., Kistler Group, L3Harris Technologies, Inc., Mad City Labs, Inc., Morgan Advanced Materials, Omega Piezo Technologies, Inc., Parker Hannifin Corporation, Physik Instrumente (PI) GmbH & Co. KG., Piezosystem Jena GmbH, Rion Co., Ltd., TE Connectivity, and US EuroTek, Inc.
The report evaluates these key participants in the global Piezoelectric Sensor industry. These participants have executed a slew of major business plans such as the extension of the consumer base, technology innovation, strategic partnerships, and collaborations for enhancing penetration of new technologies in the global markets and establishing strong market growth globally. The market study report helps in monitoring the performance of each segment along with examining the effect of new technology launches on the overall market earnings.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the piezoelectric sensor market analysis from 2021 to 2031 to identify the prevailing piezoelectric sensor market opportunity.
- This study comprises an analytical depiction of the piezoelectric sensor market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall piezoelectric sensor market analysis is determined to understand the profitable trends to gain a stronger foothold.
- An in-depth analysis of the piezoelectric sensor market outlook assists to determine the prevailing market opportunities.
- The report presents information related to key drivers, restraints, and opportunity
- The current piezoelectric sensor market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
- The report includes the market share of key vendors and piezoelectric sensor market trends.
Key Market Segments
Application Area
- Industrial Manufacturing
- Automotive
- Healthcare
- IT and Telecom
- Aerospace and Defence
- Oil and Gas
- Others
Sensor Type
- Actuators
- Actuators
- Pneumatic Actuators
- Hydraulic Actuators
- Electric Actuators
- Mechanical Actuators
- Actuators
- Motors
- Transducers
- Others
Vibration Mode
- Radial Mode
- Length Mode
- Longitudinal Mode
- Thickness Mode
- Shear Mode
By Region
- North America (U.S., Canada, Mexico)
- Europe (France, Spain, UK, Russia, Rest Of Europe, Germany, Italy)
- Asia-Pacific (China, India, Japan, South Korea, Rest Of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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