Ceramic Transducers Market In Europe Is Predicted To Develop At A CAGR Of 5.5% | Says FMI
The market for ceramic transducers is expected to increase from an estimated value of US$ 1,636.5 Million in 2022 to US$ 3,945.9 Million by 2032. By 2022, Europe will hold approximately 24.1% of the global market share. This region is expected to grow steadily during the forecast period, 2022-2032.
The rising medical industry in several European nations is likely to drive growth in the Ceramic Transducers market during the forecasted period. The ceramic transducers market in Europe is predicted to develop at a CAGR of 5.5% on average.
A ceramic transducer is an electromechanical device that transforms one type of energy to another. It is made of a piezoelectric material, which creates electrical current in reaction to mechanical stress and mechanical strain caused by changes in electric fields, light, or temperature.
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The market is expected to increase at a CAGR of 9.2 percent during the forecast period of 2022-2032. The increase can be attributed to a variety of factors, including rising demand for accelerometers and distance sensors used in smartphones and tablets, rising demand for flow rate measurement systems as a result of industrial growth trends, rising demand in developing countries as a result of increased use of burglar alarms, and so on.
Ceramic transducers are employed as sensors in a wide range of applications, including detection and alarm systems, the automobile sector, medical equipment and gadgets, and distance measurement with time, acceleration, and flow rate measurements, to name a few. This significant advantage drives the global market.
Ceramic transducers are used in a variety of applications, including ink printing, structural health monitoring, airbag sensors, seat belt buzzers, radio resonators, tyre pressure indicators, keyless door entry, robots and toys, electronic cigarette lighters, microwave ovens, thickness gauging, vibration measurements, and other similar applications. Ceramic transducers have also used ultrasonic transducers, which transform electric voltage into deformations or vibrations. The vast range of application industries will drive up demand on the global market.
In addition to the end use sectors currently in use, the use of ceramic transducers as sensors in additional applications such as TV, radios, cellular phones, chemical plants, the power sector, aeroplanes, telecommunications, healthcare, and so on is expected to present growth opportunities during the anticipated period.
What Are the Factors Hindering the Ceramic Transducers Market?
One of its limitations is that piezoelectric materials cannot be used for entirely static measurements. In addition, the durability and unfavourable compatibility of piezoelectric materials with concrete structures are drawbacks. Such elements may hinder product demand on the global market.
The market for ceramic transducers is anticipated to be constrained during the forecast period by the availability of substitute products as well as the overall manufacturing sector downturn.
Additionally, the piezoelectric transducer should only be used for dynamic measurements; static measurements are inappropriate. A high piezoelectric cable is required for electrical contact because the device only requires a small electric charge to function. The piezoelectric transducer’s low output necessitates the addition of an external electrical circuit. These restrictions would restrict the global market for ceramic transducers during the forecasted period.
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Businesses in the ceramic transducers industry are getting more and more involved in developing strategies like targeted marketing, CSR initiatives, and other similar initiatives to boost their visibility on a worldwide scale. The fact that these firms are now trying to manage a certain business-related activity in a nation with advantageous policies is a noteworthy development that is being observed across the board.
This enables these businesses to save expenses while still retaining the services of industry specialists at each crucial stage of their respective organisations. Governments in developing nations like India, Taiwan, China, and Indonesia, among others, are putting in place policies to encourage international investors to their various manufacturing sectors by lowering trade taxes and customs in an effort to increase employment.
The key players of this market include
- Crest Ultrasonic Corporation,
- Sensor Technology Ltd.,
- YDA Ultrasonic,
- Precision Acoustics Ltd.,
- Sparkler Ceramics,
- Risun Electronic, PI Ceramic, Noliac, Meggitt Sensing, MURATA Manufacturing Co. Ltd, CeramTec, APC International, HARRIS Corporation.
Key Segments Profiled in the Global Ceramic Transducers Market Report
Ceramic Transducers Market by Material:
- Lead Magnesium Niobate (PMN) Ceramic Transducers
- Lead Titanate (PT) Ceramic Transducers
- Lead Zinc Titanates (PZT) Ceramic Transducers
Ceramic Transducers Market by Application:
- Underwater Acoustic Ceramic Transducers
- Ultrasonic Ceramic Transducers
- Ceramic Transducers for Standard Signal Source
- Ceramic Transducers for Sensing and Measurement
- Ceramic Transducers for Electro-Acoustic Transducers