Global Piezoelectric Smart Material Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Piezoelectric Smart Material is used in the manufacturing of electronic sensors owing to its ability to transduce mechanical pressure into electrical signals. These materials have major advantages across sensors, transducers, actuators, motors, and SONARs, etc. The Piezoelectric Smart Material market is expanding because of factors such as rising demand from the aerospace sector and rising demand and spending by the defense sector.
The piezoelectric smart material has major applications across aerospace sector. According to Statista in 2021, United States has contributed around USD 89.1 billion towards aerospace exports. Also, the global military spending increased and reached around USD 2.1 trillion in 2021. Thus, with the growing aerospace sector, the market is expected to grow impressively in the forecast period. In addition, growing demand for construction and rising R&D activities are creating lucrative opportunities for the market growth. However, the higher cost of smart material hampers the market growth in the forecast period.
The key regions considered for the Global Piezoelectric Smart Material Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominates the regional market with highest revenue share, owing to the rising demand by end-user industries such as construction and healthcare, etc. Rising advancement and growing innovation by market players across the region. Also North America is expected to grow significantly during the forecast period, owing to factors such as rising spending and demands across the aerospace and military sector.
Major market players included in this report are:
APC International, Ltd.
Recent Developments in the Market:
In April 2021, The SUPERSMART European project, led by Arkema and funded by the EIT (European Institute of Innovation and Technology), has won the 2021 Organic Electronics Association competition Award for the Best Publicly Funded Project Demonstrator. This initiative brings the emerging technology of paper-printed organic electronics from the lab to the manufacturing floor.
Global Piezoelectric Smart Material Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Application, End-user Industry, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Agriculture and Food,
Construction and Infrastructure,
Aerospace and Defense,
Leisure and Sports,
Other End-user Industries
Rest of the World