HOME Top Market Reports Piezoelectric Devices Market by Material (Piezoceramic, Piezopolymer, Piezocomposite), Product (Actuators, Transducers, Motors, Sensors, Generators), Application (Industrial, Automotive, Medical, Consumer) & Geography - Global Trend & Forecast to 2020

Piezoelectric Devices Market by Material (Piezoceramic, Piezopolymer, Piezocomposite), Product (Actuators, Transducers, Motors, Sensors, Generators), Application (Industrial, Automotive, Medical, Consumer) & Geography - Global Trend & Forecast to 2020

By: marketsandmarkets.com
Publishing Date: December 2015
Report Code: SE 3950

 

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The overall market for piezoelectric devices is expected to reach USD 27.24 Billion by 2020 from USD 20.35 Billion in 2015, growing at a CAGR of 6.01% between 2015 and 2020. The piezoelectric devices market is a mature market with applications ranging from industrial machinery to compact electronic equipment & tools such as digital cameras, phones, and medical instruments. The base year considered for this research study is 2014 and the market size has been estimated between 2015 and 2020. The piezoelectric devices market in the report has been segmented on the basis of material (piezocrystals, piezoceramics, piezopolymers, and piezocomposite), product (sensors, actuators, motors, transducers, and generators), application (industrial & manufacturing, automotive, medical, information & communication, and others), and region (North America, Europe, APAC, and RoW).

Growing demand across various applications such as smartphones, semiconductors precision manufacturing, optics, robotics, HVAC control systems, and piezo mechanics-based eye surgery tools is likely to drive the market for piezoelectric devices during the forecast period.

Major players of the piezoelectric devices ecosystem have been identified across regions. The offerings, distribution channels, and regional presence of these players have been understood through in-depth discussions. The calculation of the overall market size was based on the number of shipments and average selling prices of the devices. In addition, top down and bottom up approaches were used to estimate the sizes of other individual markets by using percentage splits from secondary and primary researches. The entire process includes the study of the annual and financial reports of the top market players and extensive interview of key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. The figure below shows the break-down of the primaries on the basis of company type, designation, and region of the research study.

To know about the assumptions considered for the study, download the pdf brochure

Piezoelectric Devices Market

The piezoelectric devices market is primarily driven by the increase in demand for high precision micro-positioning devices; technological advancements in piezoelectric polymers and composite materials; emerging applications of piezoelectric technology in the medical device sector; and evolution of the high-speed communication industry.

Of all devices, piezoelectric actuators held the highest share in the overall piezoelectric devices market in 2014. The market for these actuators is expected to grow at a steady CAGR during in the forecast period. Many application areas require maximum positioning accuracy and piezoelectric actuators with their high precision and responsiveness fit these specifications perfectly. Piezoelectric actuators are also used in semiconductor manufacturing, optics and photonics, medical engineering, and industrial automation.

Some of the key players in this market include APC International, Inc. (U.S.), Exelis, Inc. (U.S.), Morgan Advanced Materials (U.K.), PI (Germany), Piezosystem Jena (Germany), CeramTec GmbH (Germany), Piezo Solutions (U.S.), Piezo Systems, Inc. (U.S.), Piezomechanik GmbH (Germany), Mad City Labs, Inc. (U.S.), and US Eurotek, Inc. (U.S.).

Target audience for this report:

  • Original equipment manufacturers
  • Governments and financial institutions
  • Software solution providers
  • Distributors and traders
  • Research organizations
  • Technology investors
  • Forums, alliances, and associations
  • End users who want to know more about piezoelectric devices and the latest technological developments in the piezoelectric devices market

Scope of the Report

Piezoelectric Devices Market, by Material

  • Piezocrystals
  • Piezoceramics
  • Piezopolymers
  • Piezocomposites

Piezoelectric Devices Market, by Product

  • Piezoelectric sensors
  • Piezoelectric actutators
  • Piezoelectric transducers
  • Piezoelectric motors
  • Piezoelectric generators
  • Others

Piezoelectric Devices Market, by Application

  • Industrial & manufacturing
  • Automotive
  • Medical
  • Information & communication
  • Consumer
  • Others

Piezoelectric Devices Market, by Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Others
  • APAC
    • China
    • Japan
    • South Korea
    • Others
  • RoW

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of product portfolio of each company

Geographic Analysis

  • Further breakdown of the piezoelectric devices market in Europe
  • Further breakdown of the piezoelectric devices market in APAC

Company Information

  • Detailed analysis and profiling of additional market players

Table of Content

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
           2.1.3 Market Size Estimation
                    2.1.3.1 Top-Down Approach
                    2.1.3.2 Bottom-Up Approach
    2.2 Market Breakdown & Data Triangulation
    2.3 Research Assumptions
           2.3.1 Assumptions

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Opportunities in the Piezoelectric Devices Market
    4.2 The Piezoelectric Generator Market Expected to Have the Highest Growth Opportunities During the Forecast Period
    4.3 Industrial and Manufacturing: the Largest Market for Piezoelectric Devices
    4.4 The Market for Piezoelectric Polymers is Expected to Grow at the Highest CAGR During the Forecast Period
    4.5 APAC Piezoelectrc Devices Market, By Product
    4.6 APAC is Expected to Hold the Largest Share of the Piezoelectric Devices Market During the Forecast Period

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Material
           5.2.2 By Product
           5.2.3 By Application
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Demand for Piezoelectric Materials: Piezoelectric Ceramic/Polymer/Composite Devices
                    5.3.1.2 Emerging Applications of Piezoelectric Devices
                    5.3.1.3 Increase in Funding From Investors and Governments
                    5.3.1.4 Increase in Demand for Piezoelectric Generators and Energy Harvesting Devices
                    5.3.1.5 Introduction of Piezoelectric Automotive Devices
           5.3.2 Restraints
                    5.3.2.1 High Cost of Components and Investment in R&D
                    5.3.2.2 Legal Restrictive Measures
           5.3.3 Opportunities
                    5.3.3.1 Evolving Applications of Piezoelectric Materials
                    5.3.3.2 Harvesting Energy From Vibrations Using Piezoelectric Transducers
                    5.3.3.3 Advancements in Piezoelectric Actuators and Motors
                    5.3.3.4 Emergence of Piezo Motion Technology
           5.3.4 Challenges
                    5.3.4.1 Rapid Technological Changes
                    5.3.4.2 Stringent Regulations and Policies By Governments

6 Industry Trends (Page No. - 50)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Key Influencers
    6.4 Industry Trends
    6.5 Porter’s Five Forces Analysis
           6.5.1 Threat of New Entrants
This Force Assesses the Threat of New Entrants in the Piezoelectric Device Market. the Parameters Considered Here Include Low Barriers to Entry and Product Differentiation.
           6.5.2 Threat of Substitutes
           6.5.3 Bargaining Power of Suppliers
           6.5.4 Bargaining Power of Buyers
           6.5.5 Intensity of Rivarly

7 Piezoelectrical Device Market, By Material (Page No. - 59)
    7.1 Introduction
    7.2 Piezoelectric Crystals
    7.3 Piezoelectric Ceramics
    7.4 Piezoelectric Polymer
    7.5 Piezoelectric Composites

8 Piezoelectric Devices Market, By Product (Page No. - 68)
    8.1 Introduction
    8.2 Piezoelectric Sensors
    8.3 Piezoelectric Actuators
    8.4 Piezoelectric Motors
    8.5 Piezoelectric Transducers
    8.6 Piezoelectric Generators
    8.7 Others

9 Piezoelectric Devices Market, By Application (Page No. - 98)
    9.1 Introduction
    9.2 Industrial & Manufactruing
    9.3 Automotive
    9.4 Medical
    9.5 Information & Communication
    9.6 Consumer Goods
    9.7 Others

10 Regional Analysis (Page No. - 112)
     10.1 Introduction
     10.2 North America
             10.2.1 U.S.
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 U.K.
             10.3.2 Germany
             10.3.3 France
             10.3.4 Italy
             10.3.5 Spain
             10.3.6 Others
     10.4 APAC
             10.4.1 Japan
             10.4.2 China
             10.4.3 South Korea
             10.4.4 Others
     10.5 RoW
             10.5.1 Middle East
             10.5.2 Africa

11 Competitive Landscape (Page No. - 132)
     11.1 Overview
     11.2 Key Players in the Piezoelectric Devices Market, 2014
     11.3 Competitive Situation and Trends
             11.3.1 New Product Launches
             11.3.2 Expansions
             11.3.3 Agreements, Collaborations, Contracts, & Partnerships
             11.3.4 Acquisition

12 Company Profiles (Page No. - 141)
     12.1 Introduction
     12.2 APC International Ltd.
             12.2.1 Business Overview
             12.2.2 Products & Services
             12.2.3 Recent Developments
             12.2.4 MnM View
                        12.2.4.1 SWOT Analysis
     12.3 Exelis, Inc.
             12.3.1 Business Overview
             12.3.2 Products & Services
             12.3.3 Recent Developments
             12.3.4 MnM View
                        12.3.4.1 SWOT Analysis
     12.4 Morgan Advanced Materials
             12.4.1 Business Overview
             12.4.2 Products & Services
             12.4.3 Recent Developments
             12.4.4 MnM View
                        12.5.4.1 SWOT Analysis
     12.5 Physik Instrumente
             12.5.1 Business Overview
             12.5.2 Products & Services
             12.5.3 Recent Developments
             12.5.4 MnM View
                        12.5.4.1 SWOT Analysis
     12.6 Piezosystem Jena GmbH
             12.6.1 Business Overview
             12.6.2 Products & Services
             12.6.3 Recent Developments
             12.6.4 MnM View
                        12.7.4.1 SWOT Analysis
     12.7 Ceramtec GmbH
             12.7.1 Business Overview
             12.7.2 Products & Services
             12.7.3 Recent Developments
     12.8 Piezo Solutions
             12.8.1 Business Overview
             12.8.2 Products & Services
             12.8.3 MnM View
     12.9 Piezo Systems, Inc.
             12.9.1 Business Overview
             12.9.2 Products & Services
     12.10 Piezomechanik GmbH
             12.10.1 Business Overview
             12.10.2 Products & Services
     12.11 MAD City Labs, Inc.
             12.11.1 Business Overview
             12.11.2 Products & Services
             12.11.3 Recent Developments
             12.11.4 MnM View
     12.12 Us Eurotek, Inc
             12.12.1 Business Overview
             12.12.2 Products & Services
             12.12.3 MnM View

13 Appendix (Page No. - 167)
     13.2 Discussion Guide
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports


List of Tables (75 Tables)

Table 1 Piezoelectric Devices Market: By Material
Table 2 Piezoelectric Devices Market: By Product
Table 3 Piezoelectric Devices Market: By Application
Table 4 Global Piezoelectric Device Market Drivers
Table 5 Global Piezoelectric Device Market Restraints
Table 6 Global Piezoelectric Device Market Oppurtunities
Table 7 Global  Piezoelectric Device Market Challenges
Table 8 Some of the Players in the Piezoelectric Devices Market
Table 9 Advancements in Piezoactuator for Ultra-Small Scale Precision Devices and Emerging Energy Harvesting Techniques are Expected to Drive the Piezoelectric Devices Market
Table 10 Piezoelectric Device Market, By Material, 2013–2020 (USD Billion)
Table 11 Piezoelectric Crystals: Piezoelectric Device Market, By Product, 2013–2020 (USD Million)
Table 12 Piezoelectric Ceramics: Piezoelectric Devices Market, By Product, 2013–2020 (USD Million)
Table 13 Piezoelectric Polymers: Piezoelectric Device Market, By Product, 2013–2020 (USD Million)
Table 14 Piezoelectric Composites: Piezoelectric Device Market, By Product, 2013–2020 (USD Million)
Table 15 Piezoelectric Devices Market, By Product, 2015–2020 (USD Billion)
Table 16 Peizoelectric Sensors: Piezoelectric Devices Market, By Application, 2013–2020 (USD Billion)
Table 17 Peizoelectric Sensors: Piezoelectric Devices Market, By Material, 2013–2020 (USD Billion)
Table 18 Peizoelectric Sensors: Piezoelectric Devices Market, By Region, 2013–2020 (USD Billion)
Table 19 North America: Peizoelectric Sensors Market, By Country, 2013–2020 (USD Billion)
Table 20 Europe: Piezoelectric Sensors Market, By Country, 2013–2020 (USD Billion)
Table 21 APAC: Peizoelectric Sensors Market, By Country, 2013–2020 (USD Billion)
Table 22 Peizoelectric Actuators: Piezoelectric Devices Market, By Application, 2013–2020 (USD Billion)
Table 23 Peizoelectric Actuators: Piezoelectric Devices Market, By Material, 2013–2020 (USD Billion)
Table 24 Peizoelectric Actuators: Piezoelectric Devices Market, By Region, 2013–2020 (USD Billion)
Table 25 North America: Peizoelectric Actuators Market, By Country, 2013–2020 (USD Billion)
Table 26 Europe: Peizoelectric Actuators Market, By Country, 2013–2020 (USD Billion)
Table 27 APAC Peizoelectric Actuators Market, By Country, 2013–2020 (USD Billion)
Table 28 Peizoelectric Motors: Piezoelectric Devices Market, By Application, 2013–2020 (USD Billion)
Table 29 Peizoelectric Motors: Piezoelectric Devices Market, By Material, 2013–2020 (USD Billion)
Table 30 Peizoelectric Motors: Piezoelectric Device Market, By Region, 2013–2020 (USD Billion)
Table 31 North America: Peizoelectric Motors Market, By Country, 2013–2020 (USD Billion)
Table 32 Europe: Peizoelectric Motors Market, By Country, 2013–2020 (USD Billion)
Table 33 APAC: Peizoelectric Motors Market, By Country, 2013–2020 (USD Billion)
Table 34 Peizoelectric Transducers: Piezoelectric Devices Market, By Application, 2013–2020 (USD Billion)
Table 35 Peizoelectric Transducers: Piezoelectric Devices Market, By Material, 2013–2020 (USD Billion)
Table 36 Peizoelectric Transducers: Piezoelectric Devices Market, By Region, 2013–2020 (USD Billion)
Table 37 North America: Peizoelectric Transducers Market, By Country, 2013–2020 (USD Billion)
Table 38 Europe: Peizoelectric Transducer Market, By Country, 2013–2020 (USD Billion)
Table 39 APAC: Peizoelectric Transducers Market, By Country, 2013–2020 (USD Billion)
Table 40 Peizoelectric Generators: Piezoelectric Devices Market, By Application, 2013–2020 (USD Million)
Table 41 Peizoelectric Generators: Piezoelectric Devices Market, By Material, 2013–2020 (USD Million)
Table 42 Peizoelectric Generators: Piezoelectric Devices Market, By Region, 2013–2020 (USD Million)
Table 43 North America: Peizoelectric Generators Market, By Country, 2013–2020 (USD Million)
Table 44 Europe: Peizoelectric Generators Market, By Country, 2013–2020 (USD Million)
Table 45 APAC: Peizoelectric Generators Market, By Country, 2013–2020 (USD Million)
Table 46 Others: Piezoelectric Devices Market, By Application, 2013–2020 (USD Billion)
Table 47 Others: Piezoelectric Devices Market, By Material, 2013–2020 (USD Billion)
Table 48 Others: Piezoelectric Device Market, By Region, 2013–2020 (USD Billion)
Table 49 North America: Market for Other Piezoelectric Devices, By Country, 2013–2020 (USD Billion)
Table 50 Europe: Market for Other Piezoelectric Devices, By Country, 2013–2020 (USD Billion)
Table 51 APAC: Market for Other Piezoelectric Devices, By Country, 2013–2020 (USD Billion)
Table 52 Piezoelectric Devices Market, By Application, 2013–2020 (USD Billion)
Table 53 Piezoelectric Devices Market for Industrial & Manufacturing Application, By Product,  2013–2020 (USD Million)
Table 54 Piezoelectric Devices Market for Automotive Application, By Product, 2013–2020 (USD Million)
Table 55 Piezoelectric Devices Market for Medical Applications, By Product, 2013–2020 (USD Million)
Table 56 Piezoelectric Devices Market for Information & Communication Application, By Product, 2013–2020 (USD Million)
Table 57 Piezoelectric Devices Market for Consumer Good Application, By Product, 2013–2020 (USD Million)
Table 58 Piezoelectric Devices Market for Other Applications, By Product, 2013–2020 (USD Million)
Table 59 Global Piezoelctric Devices Market, By Region, 2013–2020 (USD Billion)
Table 60 North American Piezoelctric Devices Market, By Country, 2013–2020 (USD Billion)
Table 61 North American Piezoelctric Devices Market, By Product, 2013–2020 (USD Billion)
Table 62 North American Piezoelctric Devices Market, By Material, 2013–2020 (USD Billion)
Table 63 European Piezoelctric Devices Market, By Country, 2013–2020 (USD Billion)
Table 64 European Piezoelctric Devices Market, By Product, 2013–2020 (USD Billion)
Table 65 European Piezoelctric Devices Market, By Material, 2013–2020 (USD Billion)
Table 66 APAC Piezoelctric Devices Market, By Country, 2013–2020 (USD Billion)
Table 67 APAC Piezoelctric Devices Market, By Product, 2013–2020 (USD Billion)
Table 68 APAC Piezoelctric Devices Market, By Material, 2013–2020 (USD Billion)
Table 69 RoW Piezoelctric Devices Market, By Product, 2013–2020 (USD Billion)
Table 70 RoW Piezoelctric Devices Market, By Material, 2013–2020 (USD Billion)
Table 71 Piezoelectric Devices Market: Key Players, 2014
Table 72 New Product Launches, 2011-2015
Table 73 Expansions,  2011-2015
Table 74 Agreements, Collaborations, Contracts, & Partnerships, 2011-2015
Table 75 Acquisition, 2011-2015


List of Figures (45 Figures)

Figure 1 Global Piezoelectric Devices Market, By Material
Figure 2 Piezoelectric Devices Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Breakdown and Data Triangulation
Figure 7 Assumptions of the Research Study
Figure 8 Piezoelectric Devices Market Snapshot, By Application (2015 vs 2020):
Figure 9 Piezoelectric  Actuators Expected to Develop Into A Large Component Market During the Forecast Period
Figure 10 Global Piezoelectric Devices Market, By Material, 2014
Figure 11 Global Piezoelectric Devices Market, By Region, 2014
Figure 12 Consumer Electronics, Medical, and Information & Communication Applications Would Drive the Piezoelectric Devices Market, 2015-2020
Figure 13 Geographic Snapshot: Piezoelectric Devices Market, By Product
Figure 14 Piezoelectric Devices Market, By Application, 2013–2020 (USD Billion)
Figure 15 Piezoelectric Devices Market, By Material, 2013–2020 (USD Billion)
Figure 16 Japan Was the Largest Market in APAC for Piezoelectric Devices in 2014
Figure 17 Region-Wise CAGR for the Piezoelectric Devices Market (2015–2020)
Figure 18 Increasing Demand for Energy Harvesting Devices is Expected to Drive the Piezoelectric Devices Market
Figure 19 Tecnhology Developer Holds the Crucial Phase in the Overall Piezoelectric Devices Value Chain
Figure 20 Porter’s Five Forces Analysis
Figure 21 Piezoelectric Devices Market, By Product
Figure 22 Piezoelectric Device Market: By Application
Figure 23 Geographic Snapshot : APAC (2015–2020) - the Largest Market for Piezoelectric Devices
Figure 24 APAC-An Attractive Marketplace for All End-User Industries of Piezoelectric Devices
Figure 25 Snapshot of the North American Piezoelectric Devices Market (2014–2020)
Figure 26 Snapshot of the European Piezoelectric Devices Market (2014–2020)
Figure 27 Snapshot of the APAC Piezoelectric Devices Market (2014–2020)
Figure 28 Companies Adopted New Product Launches as the Key Growth Strategy Over the Last Five Years (2011-2015)
Figure 29 Battle for Market Share: New Product Launches Was the Key Strategy in 2014
Figure 30 APC International Ltd.: Company Snapshot
Figure 31 APC International Ltd.:SWOT Analysis
Figure 32 Exelis, Inc.: Company Snapshot
Figure 33 Exelis, Inc.: SWOT Analysis
Figure 34 Morgan Advanced Materials.: Company Snapshot
Figure 35 Morgan Advanced Materials: SWOT Analysis
Figure 36 Physik Instrumente : Company Snapshot
Figure 37 Pi.: SWOT Analysis
Figure 38 Piezosystem Jena GmbH: Company Snapshot
Figure 39 Piezosystem Jena GmbH: SWOT Analysis
Figure 40 Ceramtec GmbH: Company Snapshot
Figure 41 Piezo Solutions: Company Snapshot
Figure 42 Piezo Systems, Inc.: Company Snapshot
Figure 43 Piezomechanik GmbH: Company Snapshot
Figure 44 MAD City Labs Inc.: Company Snapshot
Figure 45 US Eurotek, Inc.: Company Snapshot

MarketsandMarkets forecast the global piezoelectric devices market to reach USD 27.24 Billion by 2020 from USD 20.35 Billion in 2015, growing at a CAGR of 6.01% between 2015 and 2020. There is a rising demand for piezocomposite materials for industrial applications. Moreover, emerging energy harvesting techniques using non-conventional energy source such as body and facial movements are creating a huge demand for piezoelectric devices worldwide. The major factors driving the growth of the piezoelectric devices market further include the increasing government and investor funding in the market as well as the growing automotive sector.

The market for piezoceramics held the largest share of the piezoelectric materials market owing to their high piezoelectric sensitivity and ability to acquire desired shapes and sizes. Currently, the most widely used piezoelectric ceramic material is PZT. It is used in a variety of applications, including medical, industrial, and automotive.

The global piezoelectric actuators and motors market is expected to witness a significant growth during the forecast period owing to the benefits such as reliability and cost effectiveness offered by piezoelectric actuators and motors. The increase in demand for ultra-precision motion devices used in industries such as manufacturing, structural health monitoring, non-destructive testing, automotive, and consumer electronics is expected to drive the market during the forecast period. The piezoelectric actuators market has possibilities to further grow in the areas of autofocus assemblies required in phone cameras, fuel injectors used in the automotive sector, and precision-movement applications in microelectronics production.

Industrial & manufacturing is the leading application area for piezoelectric devices. Piezoelectric motors, sensors, actuators, and transducers have a number of important uses in industrial processes. Piezoelectric sensors such as ultrasonic sensors are used in sorting and material handling at various stages of manufacturing processes. A piezoelectric level sensor deploys sound waves to detect and monitor the level of materials in a bin. This increases automation and accuracy and reduces material losses due to human error. Actuators are used to precisely control industrial machining tools. Piezoelectric actuators, which use the piezoelectricity of crystals, are widely deployed in the high-precision positioning mechanism in manufacturing and inspection equipment to control mechanical displacements at a high speed.

In the global piezoelectric devices market, APAC held the highest share in 2014. Globally, the largest amount of research on piezoelectric materials and devices is undertaken in Japan. Several experiments on microscale applications of piezoelectric technology have been carried out in Japan, including the usage of this technology in floors of train stations to generate electricity. Owing to this, the market in APAC is expected to grow at the highest rate in the coming years.

Piezoelectric Devices Market

Some of the factors that hinder the growth of the market for piezoelectric devices include the high cost of materials used in manufacturing piezoelectric products, high R&D cost related to the development of piezo products, and legal restrictive measures that restrict the use of lead in these products.

The major players in this market include APC International, Inc. (U.S.), Exelis, Inc. (U.S.), Morgan Advanced Materials (U.K.), PI (Germany), Piezosystem Jena (Germany), CeramTec GmbH (Germany), Piezo Solutions (U.S.), Piezo Systems, Inc. (U.S.), Piezomechanik GmbH (Germany), Mad City Labs, Inc. (U.S.), and US Eurotek, Inc. (U.S.).

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