PUBLISHER: Allied Market Research | PRODUCT CODE: 1298318
PUBLISHER: Allied Market Research | PRODUCT CODE: 1298318
The global piezoelectric hemispheres market was valued at $1 billion in 2021 and is projected to reach $1.9 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031. Piezoelectric hemispheres are small spherical materials made of crystals or ceramics that convert mechanical energy into electrical energy or vice versa when subjected to pressure or vibration.
The growth of global piezoelectric hemispheres is majorly driven by the surge in demand for piezoelectric hemispheres in medical and industrial applications coupled with the rise in the adoption of piezoelectric hemispheres in automotive. Moreover, the rapid advancements in technology across various sectors are expected to drive market growth. However, the high risk associated with data privacy and security-related concerns is acting as a prime restraint of the global market. On the contrary, the rise in demand for non-invasive medical imaging and diagnostics is anticipated to provide lucrative opportunities for the Piezoelectric hemispheres industry during the forecast period.
The piezoelectric hemispheres market is segmented on the basis of material, application, industry vertical, and region. By material, the piezoelectric hemispheres market is segmented into ceramic, polymer, and crystalline. By application, the piezoelectric hemispheres market size is segmented into energy harvesting, acoustic sensors, medical devices, industrial automation, and others. By end-use industry, the market is classified into healthcare, automotive, aerospace, consumer electronics, and industrial.
Region-wise, the piezoelectric hemispheres market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)).
The key players operating in the market include: Physik Instrumente (PI) GmbH & Co. KG, APC International, Ltd., Morgan Advanced Materials PLC, Piezo Technologies, CeramTec GmbH, Piezosystem Jena GmbH, KYOCERA Corporation, Smart Material Corp., Meggitt SA, and Sensortech Canada