Market Trends of Piezoelectric Devices Industry
This section covers the major market trends shaping the Piezoelectric Devices Market according to our research experts:
Manufacturing and Industrial Sector is Gaining Traction During the Forecast Period
- Technological developments across the manufacturing industry due to the growing integration of piezoelectric crystal technology have seen the advent across the industrial products for the automation process, which provides high torque density, long life, and high motor efficiency.
- Also, the advancements in piezoelectric technology have been aimed at increasing the overall performance of the product, thereby catering to the increasing demand for the efficiency of the devices across the industrial sector.
- The applications in the industrial sector include conditioning systems, due to the high significance of energy consumption, along with the growing adoption of a broad range of piezoelectric motors across the industrial sector is driving the demand in a number of topologies, to balance high efficiency, reliability, size, weight, and power.
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North America to Register as the Largest Growing Region During the Forecast Period
- The market in North America comprises developing economies across the United States and Canada with the increasing adoption of Piezoelectric Devices in the portable electronics technology & communications industry, along with advanced medical solutions and surgical tools that are expected to drive the market during the forecast period.
- High investment in R&D across some of the prominent manufacturers of piezoelectric devices in the North America region such as APC International Ltd., Aerotech Inc., Morgan Advanced Materials, is expected to drive the growth of the market during the forecast period.
- With a growing focus on energy-efficient solutions, industries across the region are deploying across various segments of the factory operations of the electro-mechanical sector, thereby augmenting the market for piezo-electric components. For instance, Canada is focusing heavily on energy consumptions with programs, like CIPEC (Canada Industry Program for Energy Conservation), that is further expected to drive the market of piezo-electric devices across the region.
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