CeramTec GmbH (Germany) and CTS Corporation (US) are the Key Players in the Piezoelectric Devices Market
The piezoelectric devices market is projected to grow from USD 30.8 billion in 2022 and is projected to reach USD 41.0 billion by 2027; it is expected to grow at a CAGR of 5.9 % from 2022 to 2027.
Increased use of piezoelectric devices for energy harvesting, significant adoption of piezoelectric devices in the automotive vertical, increasing investments in renewable energy projects is expected to fuel the growth of the piezoelectric devices market.
Key strategies adopted by the players in the piezoelectric devices ecosystem to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches and partnerships and acquisitions.
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For instance, in June 2022, CTS Corporation (US) completed the previously announced acquisition of Ferroperm Piezoceramics from Meggitt PLC. Ferroperm designs and manufactures high-performance piezoceramic components for complex and demanding medical, industrial, and aerospace applications. The company is recognized for its high-quality and innovative piezoceramic technology. Based in Kvistgaard, Denmark, Ferroperm has established a strong customer base across Europe and North America. Ferroperm Piezoceramics represents a great addition to CTS Corporation’s expanding piezoceramic business and advances its diversification
In March 2021, CeramTec GmbH (Germany) developed high-power ultrasonic surgery transducers for different medical applications. Ultrasonic transducers offer several benefits, including increased safety, higher precision, faster healing, and more comfort for patients than traditional techniques.
CeramTec GmbH (Germany) has a robust portfolio of piezoelectric devices for many industrial applications, especially for healthcare and industrial. Its ceramic substrates are used for a variety of purposes in the electronics and telecommunications sector, including measurement and control technology and entertainment electronics. The piezo components offered by the company are widely used in highly specialized sensors for medical equipment and in numerous metering devices. It also develops tailor-made solutions. Furthermore, the company is focused on diversifying its products into different markets to decrease its dependency on a single market and reduce unexpected losses due to geopolitical or market-related risks. CeramTec GmbH (Germany) has adopted both organic and inorganic growth strategies, such as product launches, expansions, acquisitions, and contracts, to stay ahead of the competition in the market. To achieve the company’s vision, the focus is primarily on making necessary investments in research and development activities, as well as in digital transformation. For instance, in 2021, the company invested USD 0.03 billion~26 million in R&D activities. Moreover, to meet the growing demand for piezoceramic components from the healthcare industry, the company expanded its Piezoceramic Centre of Excellence in Germany by adding two more machinery units to increase efficiency and productivity through automation. In January 2021, the company partnered with Dentalpoint AG (Switzerland) to expand its portfolio of high-performance ceramics
CTS Corporation (US) is one of the dominant players in the piezoelectric devices market. CTS Corporation has a strong presence in the US market and is keen on expanding it in the Asia Pacific market, especially in China. CTS Corporation (US) relies on its product portfolio enhancement and R&D investment for its business growth. In the piezoelectric devices market, the company has a broad portfolio of piezoelectric elements and actuators, as well as piezoelectric ceramic materials. The funding of USD 1.5 million received for the development of new crystal compositions with improved properties from the Office of Naval Research (ONR) has strengthened the company’s presence in the US market, whereas the strong presence of its subsidiaries like CTS Components Taiwan, Ltd.; CTS Singapore Pte., Ltd in Asia Pacific countries such as China, Taiwan, Singapore is expected to create growth opportunities for the company. CTS Corporation (US) has been focusing on organic and inorganic growth strategies, such as product launches, contracts, and acquisitions, to augment its growth and expand its reach. The company has received contracts and funding from various US and European companies to develop new crystal compositions with improved properties and environmentally friendly lead-free piezoelectric ceramic materials. Thus, CTS Corporation (US) is expected to adopt organic and inorganic growth strategies to ensure continued growth and profitability. The company is also emphasizing on strengthening its presence in the international markets through acquisitions. For example, in February 2022, CTS Corporation acquired TEWA Temperature Sensors SP Tewa Temperature Sensors (Poland) to expand its distribution capabilities in the European market.
Related Reports:
Piezoelectric Devices Market by Material (Piezoelectric Ceramics, Polymers), Product (Piezoelectric Actuators, Transducers, Motors), Application (Aerospace & Defense, Industrial, Consumer) and Region – Global Forecast to 2027
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