Piezoelectric Hemispheres Market 2031

PORTLAND, OR, UNITED STATES, May 9, 2023 /EINPresswire.com/ -- According to the report by Allied Market Research, the global piezoelectric hemispheres market generated $1.0 billion in 2021, and is anticipated to generate $1.9 billion by 2031, witnessing a CAGR of 5.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The surge in demand for piezoelectric hemispheres in medical and industrial applications, a rise in the adoption of piezoelectric hemispheres in automotive industry, and rapid advancements in technology across various sectors drive the global piezoelectric hemispheres market. Moreover, the rise in demand for non-invasive medical imaging and diagnostics is anticipated to provide lucrative opportunities in the coming years.

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Leading Market Players-

• Physik Instrumente (PI) GmbH & Co. KG.
• KYOCERA CORPORATION
• SMART MATERIAL CORP.
• Piezo Technologies
• Sensor Technology Ltd.
• Meggitt SA
• APC International Ltd.
• Morgan Advanced Materials PLC
• Piezosystem Jena GmbH
• CeramTec GmbH

The report analyzes these key players in the global piezoelectric hemispheres market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

The ceramic segment to maintain its leadership status throughout the forecast period-

Based on material, the ceramic segment held the highest market share in 2021, accounting for more than half of the global piezoelectric hemispheres market and is estimated to maintain its leadership status throughout the forecast period. A rise in demand for ceramics in the medical and automotive sectors, where they are in high demand, due to benefits like high thermal stability and effective electrical insulation, is driving the segment growth.

The healthcare segment held the lion's share in 2021-

Based on end-use industry, the healthcare segment garnered the major share in 2021, generating nearly one-third of the global piezoelectric hemispheres market revenue and is also expected to dominate by 2031. The same segment would portray the fastest CAGR of 6.9% throughout the forecast period.

The medical devices segment to rule the roost-

Based on application, the medical devices segment accounted for the largest share in 2021, contributing to nearly two-fifths of the global piezoelectric hemispheres market, and is projected to rule the roost by 2031. The increase in demand for minimally invasive surgical procedures and non-invasive monitoring and imaging devices is driving the growth of piezoelectric hemispheres in medical devices.

Asia-Pacific garnered the major share in 2021-

Based on region, Asia-Pacific garnered around two-fifths of the global piezoelectric hemispheres market revenue in 2021 and is expected to dominate by 2031. The same region, simultaneously, would also showcase the fastest CAGR of 6.8% during the forecast period. The demand for piezoelectric hemispheres in NDT probes and sensors, which are widely used in industries like manufacturing, automotive, and aerospace, is being driven by the growing industrialization in nations like China, India, and Japan.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the piezoelectric hemispheres market analysis from 2021 to 2031 to identify the prevailing piezoelectric hemispheres market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• An in-depth analysis of the piezoelectric hemispheres market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes an analysis of the regional as well as global piezoelectric hemispheres market trends, key players, market segments, application areas, and market growth strategies.

Piezoelectric Hemispheres Market Report Highlights:

Material

• Ceramic
• Polymer
• Others

Application

• Energy Harvesting
• Acoustic Sensors
• Medical Devices
• Industrial Automation
• Others

End-use industry

• Healthcare
• Automotive
• Aerospace
• Consumer electronics
• Industrial manufacturing

By Region

• North America  (U.S., Canada, Mexico)
• Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
• LAMEA  (Latin America, Middle East, Africa)

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