Piezoelectric Devices Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032
The Global Piezoelectric Devices Market Size accounted for USD 30.8 Billion in 2022 and is projected to achieve a market size of USD 52.8 Billion by 2032 growing at a CAGR of 5.7% from 2023 to 2032.
Piezoelectric Devices Market Highlights
- Global Piezoelectric Devices Market revenue is expected to increase by USD 52.8 Billion by 2032, with a 5.7% CAGR from 2023 to 2032
- North America region led with more than 32% of Piezoelectric Devices Market share in 2022
- Asia-Pacific Piezoelectric Devices Market growth will record a CAGR of around 6.5% from 2023 to 2032
- By product, the generators segment is predicted to grow at the fastest CAGR of 6.4% between 2023 and 2032
- By material, the polymers segment is expected to expand at the biggest CAGR of 6.2% from 2023 to 2032
- Growing demand for miniaturized and compact electronic devices, drives the Piezoelectric Devices Market value
Piezoelectric devices are a type of technology that utilize the piezoelectric effect, which is the ability of certain materials to generate an electric charge in response to mechanical stress or pressure. These devices are designed to convert mechanical energy into electrical energy or vice versa. The key component of a piezoelectric device is a piezoelectric material, typically a crystal or ceramic, which undergoes deformation when subjected to an applied electric field or pressure.
The market for piezoelectric devices has been experiencing significant growth in recent years. These devices find applications across various industries, including automotive, healthcare, consumer electronics, industrial manufacturing, and aerospace, among others. The growth can be attributed to several factors. Firstly, advancements in technology and materials have led to improved performance and miniaturization of piezoelectric devices, enabling their integration into smaller and more complex systems. Additionally, the increasing demand for energy harvesting and renewable energy sources has driven the adoption of piezoelectric devices for power generation and energy harvesting applications. Moreover, the rising need for precise and accurate control in various applications, such as robotics, medical imaging, and industrial automation, has boosted the demand for piezoelectric actuators and sensors.
Global Piezoelectric Devices Market Trends
Market Drivers
- Growing demand for miniaturized and compact electronic devices
- Increasing applications in automotive systems, such as fuel injection, engine management, and tire pressure monitoring
- Rising adoption of piezoelectric devices in healthcare applications, including ultrasound imaging, drug delivery systems, and surgical tools
- Advancements in materials and technology, leading to improved performance and reliability of piezoelectric devices
Market Restraints
- High manufacturing and development costs associated with piezoelectric devices
- Limited availability of certain rare and expensive piezoelectric materials
Market Opportunities
- Increasing demand for piezoelectric sensors in structural health monitoring, vibration analysis, and industrial process control
- Advancements in nanotechnology and flexible electronics, opening up opportunities for flexible and wearable piezoelectric devices
Piezoelectric Devices Market Report Coverage
| Market | Piezoelectric Devices Market |
| Piezoelectric Devices Market Size 2022 | USD 30.8 Billion |
| Piezoelectric Devices Market Forecast 2032 | USD 52.8 Billion |
| Piezoelectric Devices Market CAGR During 2023 - 2032 | 5.7% |
| Piezoelectric Devices Market Analysis Period | 2020 - 2032 |
| Piezoelectric Devices Market Base Year | 2022 |
| Piezoelectric Devices Market Forecast Data | 2023 - 2032 |
| Segments Covered | By Element, By Product, By Material, By Application, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | APC International Ltd., CeramTec GmbH, CTS Corporation, EPCOS AG (TDK Corporation), Kyocera Corporation, Morgan Advanced Materials PLC, Murata Manufacturing Co., Ltd., NGK Insulators Ltd., Piezo Technologies, PI Ceramic GmbH, PhysikInstrumente (PI) GmbH & Co. KG, and TE Connectivity Ltd. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
Piezoelectric devices are a type of technology that harnesses the piezoelectric effect exhibited by certain materials. This effect refers to the ability of certain materials, such as crystals and ceramics, to generate an electric charge when subjected to mechanical stress or pressure. Conversely, when an electric field is applied to these materials, they undergo deformation or mechanical movement. This unique property allows piezoelectric devices to convert mechanical energy into electrical energy or vice versa.
Piezoelectric devices find a wide range of applications across various industries. One of the prominent applications is in sensors and actuators. Piezoelectric sensors are utilized for measuring physical parameters such as pressure, acceleration, force, and strain. They are commonly used in industrial automation, automotive systems, aerospace, and healthcare. Piezoelectric actuators, on the other hand, are employed for precise positioning, movement, and vibration control. They are utilized in robotics, micropositioning systems, inkjet printers, and optical devices.
The piezoelectric devices market has been experiencing significant growth and is expected to continue its upward trajectory in the coming years. Several factors are contributing to this growth. Firstly, the increasing demand for miniaturized electronic devices, such as smartphones, wearables, and IoT devices, is driving the adoption of piezoelectric components. These devices require compact and efficient components for sensing, actuation, and energy harvesting, which can be provided by piezoelectric devices. Moreover, the automotive industry is a major driver of the piezoelectric devices market. The integration of piezoelectric sensors and actuators in automotive systems, such as fuel injection, engine management, and tire pressure monitoring, improves efficiency, performance, and safety. With the ongoing trend towards electric and hybrid vehicles, the demand for piezoelectric devices is expected to further increase.
Piezoelectric Devices Market Segmentation
The global Piezoelectric Devices Market segmentation is based on element, product, material, application, and geography.
Piezoelectric Devices Market By Element
- Piezoelectric Discs
- Piezoelectric Plates
- Piezoelectric Rings
According to the piezoelectric devices industry analysis, the piezoelectric discs segment accounted for the largest market share in 2022. Piezoelectric discs, also known as piezo discs or piezo elements, are widely used for sensing, actuation, and energy harvesting applications. These discs consist of a piezoelectric material sandwiched between metal electrodes, allowing them to generate an electric charge when subjected to mechanical stress or pressure. One of the primary drivers for the growth of the piezoelectric discs segment is the increasing demand for sensing applications. Piezoelectric discs are used as sensors in various industries, including automotive, aerospace, industrial manufacturing, and healthcare. They offer high sensitivity, fast response times, and excellent reliability, making them suitable for applications such as pressure sensing, vibration monitoring, and force measurement.
Piezoelectric Devices Market By Product
- Sensors
- Motors
- Transducers
- Actutators
- Generators
- Others
In terms of products, the generators segment is expected to witness significant growth in the coming years. Piezoelectric generators, also known as energy harvesters, are devices that convert mechanical vibrations or movements into electrical energy. They utilize the piezoelectric effect to generate an electric charge when subjected to mechanical stress or pressure, enabling them to harness ambient energy and convert it into usable electrical power. One of the key drivers for the growth of the generators segment is the increasing demand for self-powered and energy-efficient systems. Piezoelectric generators offer a compact and sustainable solution for powering small electronic devices and wireless sensor networks. They can be integrated into various applications, such as wearable devices, IoT sensors, structural health monitoring systems, and smart infrastructure, where battery replacement or external power sources are not feasible.
Piezoelectric Devices Market By Material
- Ceramics
- Polymers
- Crystals
- Composites
According to the piezoelectric devices market forecast, the polymers segment is expected to witness significant growth in the coming years. Piezoelectric polymers are a class of materials that exhibit piezoelectric properties, allowing them to generate an electric charge in response to applied mechanical stress or pressure. These polymers offer unique advantages such as flexibility, lightweight, and ease of processing, making them suitable for a wide range of applications. One of the key drivers for the growth of the polymers segment is the increasing demand for flexible and wearable electronics. Piezoelectric polymers can be integrated into flexible and stretchable electronic devices, enabling the development of innovative products such as wearable sensors, electronic skin, and bendable displays.
Piezoelectric Devices Market By Application
- Industrial and Manufacturing
- Automotive
- Consumer Electronics
- Healthcare
- Defense and Aerospace
- Information and Communication
- Others
Based on the application, the defense and aerospace segment is expected to continue its growth trajectory in the coming years. Piezoelectric devices play a crucial role in defense and aerospace applications, providing sensing, actuation, and energy harvesting capabilities in demanding environments. The unique properties of piezoelectric materials, such as their high sensitivity, fast response times, and ability to withstand harsh conditions, make them well-suited for a wide range of applications in these industries. One of the key drivers for the growth of the defense and aerospace segment is the increasing demand for advanced sensing and actuation technologies. Piezoelectric devices are used in aerospace applications for structural health monitoring, vibration analysis, and noise reduction. They enable real-time monitoring of aircraft components, ensuring early detection of potential faults or failures and enhancing overall safety.
Piezoelectric Devices Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Piezoelectric Devices Market Regional Analysis
Geographically, North America dominates the piezoelectric devices market in 2022. North America has a strong presence of key market players and technological advancements. Many prominent piezoelectric device manufacturers are based in North America, contributing to the region's dominance. These companies have well-established research and development capabilities, enabling them to innovate and introduce new products to the market, which further strengthens their competitive position. Moreover, North America has a thriving automotive and aerospace industry, which are major consumers of piezoelectric devices. The region is home to leading automotive manufacturers and aerospace companies, driving the demand for piezoelectric sensors, actuators, and energy harvesting devices. The need for advanced sensing, precise control, and energy-efficient solutions in these industries fuels the demand for piezoelectric devices, allowing North America to maintain its dominance in the market.
Piezoelectric Devices Market Player
Some of the top piezoelectric devices market companies offered in the professional report include APC International Ltd., CeramTec GmbH, CTS Corporation, EPCOS AG (TDK Corporation), Kyocera Corporation, Morgan Advanced Materials PLC, Murata Manufacturing Co., Ltd., NGK Insulators Ltd., Piezo Technologies, PI Ceramic GmbH, PhysikInstrumente (PI) GmbH & Co. KG, and TE Connectivity Ltd.
Frequently Asked Questions
What was the market size of the global piezoelectric devices in 2022?
The market size of piezoelectric devices was USD 30.8 Billion in 2022.
What is the CAGR of the global piezoelectric devices market from 2023 to 2032?
The CAGR of piezoelectric devices is 5.7% during the analysis period of 2023 to 2032.
Which are the key players in the piezoelectric devices market?
The key players operating in the global market are including APC International Ltd., CeramTec GmbH, CTS Corporation, EPCOS AG (TDK Corporation), Kyocera Corporation, Morgan Advanced Materials PLC, Murata Manufacturing Co., Ltd., NGK Insulators Ltd., Piezo Technologies, PI Ceramic GmbH, PhysikInstrumente (PI) GmbH & Co. KG, and TE Connectivity Ltd.
Which region dominated the global piezoelectric devices market share?
North America held the dominating position in piezoelectric devices industry during the analysis period of 2023 to 2032.
Which region registered fastest CAGR from 2023 to 2032?
Asia-Pacific region exhibited fastest growing CAGR for market of piezoelectric devices during the analysis period of 2023 to 2032.
What are the current trends and dynamics in the global piezoelectric devices industry?
The current trends and dynamics in the piezoelectric devices industry include growing demand for miniaturized and compact electronic devices, and increasing applications in automotive systems and healthcare.
Which application held the maximum share in 2022?
The defense and aerospace application held the maximum share of the piezoelectric devices industry.
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