South Korea Piezoelectric Devices Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 5.2% from 2023 to 2033
• The South Korea Piezoelectric Devices Market Size is Expected to Hold a Significant Share by 2033

The South Korea Piezoelectric Devices Market Size is Anticipated to Hold a Significant Share by 2033, Growing at a CAGR of 5.2% from 2023 to 2033.

Market Overview

Piezoelectric instruments use the piezoelectric effect to convert deformations or vibrational mechanical stresses into electrical signals or vice versa. The phenomenon happens in some special materials, for example, in quartz crystals or other specific ceramics. An applied mechanical force will create an electrical charge and an applied voltage will induce mechanical deformation. With the vast applications in many other sectors, piezoelectric instrument industry currently also appears in significant growth. As it would turn out, the piezoelectric sensors are application-specific. For instance, in healthcare, accurate diagnostics can be carried out using ultrasound imaging; they are applied for this purpose. In industrial automation, the precise motion of robotics and actuators requires a critical control system to maintain output. Piezoelectric devices are equally found in the aerospace and automotive industries, which require sensor and energy-harvesting applications to be very vital. Further, clean and renewable energy sources have increasingly been driving this industry. Another interesting area is the study of piezoelectric materials-the possibility of utilizing ambient vibrations and movements to power sensors and low-power electronics. As technology increases, and new applications develop, the market for the piezoelectric instrument will continue to be expanded and develop.

Report Coverage

This research report categorizes the market for South Korea piezoelectric devices market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea piezoelectric devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea piezoelectric devices market.

Driving Factors

Growing demand for a high efficiency machine and worker safety is a driving force behind the markets. Advanced control systems solutions for modern construction, manufacturing, agriculture, and mining sectors are critical markets that must be targeted to realize greater efficiency benefits. Business efficiency demands optimum utilization of all resources, and therefore, gains on such grounds are number one priority. It ensures machines work with higher accuracy and productivity by allowing real-time monitoring, precision guiding, and automation. Meanwhile, concern over worker safety has increased, especially with advancing labor regulations and greater understanding of dangerous practices in the work place. In these directions, the devices have played a key role by serving as remote controls for many hazardous tasks and thus minimizing exposure to them.

Restraining Factors

The piezoelectric device industry is restricted by challenges which may limit its growth, in particular, it is because of a lack of skilled labor and alternative material development, such as potassium sodium bismuth titanate (KSBT). The shortage of skilled labor in piezoelectric technology is the first key factor hindering piezoelectric devices market share.

Market Segment

The South Korea piezoelectric devices market share is classified into type and application.

• The ring segment is expected to hold the largest market share through the forecast period.

The South Korea piezoelectric devices market is segmented by type into disc, plate, and ring. Among these, the ring segment is expected to hold the largest market share through the forecast period. This is attributed to extensive use in the medical industry. Piezoelectric rings form integral parts of advanced medical equipment’s like ultrasound transducers, providing top-class images and diagnostic capabilities. A surge in demand for medical equipment has compelled the piezoelectric ring market to grow.

• The sensors segment is expected to hold the largest market share through the forecast period.

The South Korea piezoelectric devices market is segmented by application into sensors, transducers, motors, actuators, and others. Among these, the sensors segment is expected to hold the largest market share through the forecast period. This is mainly attributed to the growing requirement for miniaturization and miniaturized optimization in smart sensing devices. These sensors have become considered as compact, highly responsive solutions for various applications in IoT devices and wearables.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea piezoelectric devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Murata
• Morgan Advanced Materials
• Mad City Labs, Inc.
• Poliak A/S
• CTS Corporation
• APC International, Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea piezoelectric devices market based on the below-mentioned segments

South Korea Piezoelectric Devices Market, By Type

• Disc
• Plate
• Ring

South Korea Piezoelectric Devices Market, By Application

• Sensors
• Transducers
• Motors
• Actuators
• Others