Market Insights
“The global piezoelectric devices market is expected to grow from USD 35.55 billion in 2024 to USD 55.35 billion by 2030, at a healthy CAGR of 9.25% during 2024-2030.”
Market Dynamics
Introduction
Piezoelectric Devices are devices that use the piezoelectric effect to convert mechanical energy into electrical energy and vice versa. These processes are done in specific materials like ceramics and crystals, making them crucial components across various industries, such as in industrial automation for precise motion control, in the aerospace sector for converting vibrational energy from aircraft movement into electrical energy, and in the healthcare sector for ultrasound imaging for precise diagnostics.
Market Drivers
Growing Automotive Industry
Piezoelectric devices are used in the automotive industry for various functions, including actuators, sensors, and fuel injectors, all of which enhance fuel efficiency, safety, and overall vehicle performance. As global demand for automotive gradually increases, production is also increasing to meet the demand. This growth in automobile manufacturing is generating significant demand for piezoelectric devices, making the automotive industry is one of the leading end users of this market. Furthermore, the advancements in driving aids and the integration of Advanced Driver-Assistance Systems (ADAS) and automation are necessitating the use of piezoelectric devices in automotives.
Widespread usage in the Aerospace & Defence Sector
Piezoelectric devices play a crucial role in monitoring the structural health of aircraft by detecting stress, strain, cracks, and fatigue in aircraft structures and enhancing flight safety. As these components are vital in aircraft manufacturing, the rising global demand for new aircraft is expected to significantly increase the need for Piezoelectric devices within the aerospace and defence sector, leading to a significant growth of the global piezoelectric devices market. According to Airbus, there will be demand for over 42,000 new aircraft between 2024 and 2043. As aircraft manufacturing grows, the demand for piezoelectric devices will also continue to rise.
Market Challenges
Stringent Regulatory Compliance
The extensively used material in piezoelectric devices, including motors, musical instrument pickups, solid-state batteries, sensors, transducers, etc. is Lead zirconate titanate (PZT). The usage of PZT materials has a toxic effect on the environment, and because of this, several countries have restricted the application of this, including the European Union. Moreover, lead exposures have bad effects on the brain, bones, blood, liver, teeth, and kidneys, and with that, the WHO has also suggested that lead is a harmful metal.
High Manufacturing Input
High production expenses heavily impact the piezoelectric devices market, influencing manufacturing and pricing policy. The production of high-quality materials such as single crystals and textured ceramics is costly, because of processes like templated grain growth (TGG) that involve critical alignment of anisometric, chemically inert template particles. Miniaturisation and precision manufacturing for MEMS applications require sophisticated equipment, trained manpower, and strict quality control, making it expensive. Moreover, coupling piezoelectric devices with systems such as flexible electronics and IoT calls for custom designs and advanced testing, further driving up costs.
Recent Developments:
- In June 2024, CeramTec GmbH (Germany) launched the ceramic substrate Sinalit. It is an enabler for more diversity in solutions and more sustainability. The properties of silicon nitride enable performance improvements in many areas and strengthen them. It contributes to a successful energy transition in electromobility or new energies.
- In February 2024, Aerotech (US), one of the global leaders in precision motion control and automation, expanded its partnership with Korean distributor ANI Motion Tech. The latest joint venture is a new manufacturing and research facility in Korea’s Songdo Knowledge Information Industrial Complex.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Segments with High-Growth Opportunity
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Product Analysis
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Piezoelectric Sensors, Piezoelectric Actuators, Piezoelectric Motors, Piezoelectric Generators, Piezoelectric Transducers
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Piezoelectric Generators are anticipated to experience robust growth during the forecast period due to their simple design, compact structure, and no maintenance.
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Material Analysis
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Piezoelectric Crystals, Piezoelectric Ceramics, Piezoelectric Polymers, Piezoelectric Composites
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Piezoelectric Ceramics is expected to dominate the market during the forecast period due to the increasing demand for ceramic-based lead zirconate titanate (PZT).
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Element Analysis
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Piezoelectric Discs, Piezoelectric Rings, Piezoelectric Plates
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Piezoelectric Discs segment is dominating the current market due to their small, thin, and lightweight design, which ensures low power consumption.
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Application analysis
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Aerospace & Defence, Industrial & Manufacturing, Automotive, Healthcare, Information & Communication, Consumer Electronics
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Healthcare is expected to register the highest CAGR during the forecast period due to the flourishing pharmaceutical industry.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific holds the largest share of the market over the forecasted period because of the rising adoption of portable electronic devices.
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By Product Type
“Piezoelectric Generators are anticipated to experience robust growth during the forecast period due to their simple design, compact structure, and no maintenance.”
The market for Piezoelectric Devices is segmented into Piezoelectric Sensors, Piezoelectric Actuators, Piezoelectric Motors, Piezoelectric Generators, and Piezoelectric Transducers. The Piezoelectric Generators dominates the Piezoelectric Devices since they have a simple and compact structure that offers high-voltage outputs and low electrical currents. Additionally, they are widely used in applications such as wireless electronic devices, energy harvesting systems, and embedded MEMS devices. All these traits of piezoelectric generators make it a preferred choice for organizations globally.
By Type
“Piezoelectric Ceramics is expected to dominate the market during the forecast period due to the increasing demand for ceramic-based lead zirconate titanate (PZT).”
The piezoelectric devices market is segmented into Piezoelectric Crystals, Piezoelectric Ceramics, Piezoelectric Polymers, and Piezoelectric Composites. Piezoelectric Ceramics is witnessing the fastest growth in the global piezoelectric devices market. Piezoelectric ceramics provide high output, quick response time, and high frequency, and can be used in low-voltage and high-voltage drive circuits. Additionally, they have been accepted commercially as a viable piezoelectric material because of their low manufacturing cost
Regional Analysis
“Asia-Pacific is expected to be the dominant and the fastest-growing region over the forecasted period because of its strong manufacturing base.”
Asia-Pacific dominates the global Piezoelectric Devices market due to rising adoption of portable electronic devices including laptops, smartphones, and smartwatches, the increasing deployment of digital technologies in industrial & manufacturing sectors, and the growing use of information & communication technologies in transportation & healthcare industries. The region's rapid urbanization, improved healthcare sector, and increased economic growth increase the demand for Piezoelectric devices.
Key Players
Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the piezoelectric devices market. Some of the major players provide a complete range of services.
- CeramTec GmbH (Germany)
- CTS Corporation (US)
- Kistler Group (Switzerland)
- Physik Instrumente (PI) SE & Co. KG. (US)
- Aerotech (US)
- Piezosystem Jena (Germany)
- KEMET Corporation (US)
- Piezo Technologies (US)
- APC International, Ltd. (US)
- Mad City Labs, Inc. (US)
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The global Piezoelectric Devices market is segmented into the following categories.
Global Piezoelectric Devices Market, by Product Type
- Piezoelectric Sensors (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piezoelectric Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piezoelectric Motors (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piezoelectric Generators (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piezoelectric Transducers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Piezoelectric Devices Market, by Material Type
- Piezoelectric Crystals (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piezoelectric Ceramics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piezoelectric Polymers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piezoelectric Composites (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Piezoelectric Devices Market, by Element Type
- Piezoelectric Discs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piezoelectric Rings (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Piezoelectric Plates (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Piezoelectric Devices Market, by Application Type
- Aerospace & Defence (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Industrial & Manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Healthcare (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Information & Communication (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Consumer Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Piezoelectric Devices Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, Italy, The UK, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Piezoelectric Devices market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across industries. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]
