LOS ANGELES, Jan. 22, 2019 (GLOBE NEWSWIRE) — According to a new report published by QY Research, the global piezo buzzer components market is predicted to rise at a robust CAGR of 6.3% during the forecast period 2018-2025. Titled “Global Piezo Buzzer Components Market Insights, Forecast to 2025,” the report mentions that the market reached a valuation of more than US$ 275 Mn in 2017, while at the end of 2025, the market is expected to attain the value of more than US$ 445 Mn.
The technology used in the Global Piezo Buzzer Components Market has reached a maturity stage now. This is foretold to make it difficult for new entrants to overtake existing popular brands in the short term on the basis of design and reputation. The authors of the report recommend new enterprises to consider these factors carefully before entering the market.
Global Piezo Buzzer Components Market: Drivers
The demand for piezo buzzer components is dependent on the demand for piezo buzzers. Piezo buzzers are popular for key characteristics such as higher sound pressure level, lower current consumption, and wide operating voltage.
Availability of piezo buzzers with a wide variety of sound outputs, frequencies, and sizes is foretold to augment the demand in the global market.
On the other hand, introduction of new products is envisioned to improve the growth of the global market.
Global Piezo Buzzer Components Market: Forecast by Application and Type
On the basis of application, the global piezo buzzer components market sees a classification into timer, toy, alarm, home appliances, automotive electronics, and others.
The global market is classified into two segments, i.e. passive and active as per type of product. Among these, active piezo buzzer components are expected to become a prominent segment in terms of adoption. They accounted for a 52.23% share of the global sales volume in 2017. In the same year, this segment touched a sales volume of close to 538.58 Mn Units.
Global Piezo Buzzer Components Market: Forecast by Region
The report covers different countries and regions deemed important for the growth of the global piezo buzzer components market: Taiwan, South Korea, Japan, China, the EU, and the U.S.
Most of the piezo buzzer components manufacturers are located in China. The country also exhibited the largest export quantity globally in 2017. In the same year, Japan took the second position in terms of sales volume.
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Global Piezo Buzzer Components Market: Competitive Analysis
The marker share gap between leading companies is predicted to grow owing to the implementation of different strategies. In 2017, Murata profited the most as it bagged a share of 37.77%. TDK and Kingstate Electronics secured the second and third positions in the same year on the basis of share. In 2016, the three companies accounted 6.21% and 5.64% shares respectively.
Global Piezo Buzzer Components Market: Key Players
Apart from the companies mentioned earlier, the report profiles key manufacturers such as Kingwei Electronic Co., LTD, Soberton, Kepo Electronics, Hitpoint, Ariose, Hunston Electronics, Huayu Electronics, Sonitron, Cui Inc., and Db Products Limited.
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