The global Piezoelectric Devices Market was estimated to be worth USD 37.27 billion in 2023 and is expected to grow to USD 127.07 billion by the end of 2032, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to expand at a CAGR of 14.6%. The growth factors, challenges, and effects on demand for the global piezoelectric devices market are examined in this study for the period of forecasting. Additionally, it will support exploration and navigation of the expanding opportunities within the labeling equipment market sector.
Global Piezoelectric Devices Market: Overview
Certain materials have the ability to generate AC voltage through the piezoelectric effect when they experience mechanical stress or vibration. Piezoelectric materials, which are widely employed in a variety of consumer and commercial items, are used to build the piezoelectric device. The most prevalent piezoelectric substance is quartz. The fundamental component of piezoelectric devices is piezoceramics.
Rising demand for piezoelectric devices for faster energy harvesting, contemporary aerospace defense applications, and significantly increasing RD investments by large companies modern research universities for innovative piezo solutions are some of the key factors enhancing market growth. Certain materials have a property called piezoelectricity that allows them to exert stress on an electric field to cause it to occur. When subjected to mechanical stress, piezoelectric materials can alter shape and exhibit a high degree of stiffness.
The biggest markets for piezoelectric devices are the automotive, manufacturing, and industrial industries. This device is also heavily used by the information and telecommunication and medical instrument sectors. These are frequently utilized in the construction of several electronic products, such as motors, generators, sensors, actuators, transducers, SONAR, and actuators. Over the course of the forecast period, this will drive the growth of the global piezoelectric materials market.
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Global Piezoelectric Devices Market: Growth Factors
The market for piezoelectric devices will be driven by the growing use of these devices in applications such as robotics, low-power and portable energy sources in the healthcare industry, consumer notebooks, computer disk drives, mobile phones, and structural health monitoring. New uses for piezoelectric energy harvesting devices, as well as government and investor investment, are other factors driving the piezoelectric device industry.
Piezoelectric devices are finding increasing utility in many different fields, such as energy harvesting, transducers, actuators, sensors, and more. The market for piezoelectric devices is propelled by the increasing need for these devices across many end-use sectors, such as consumer electronics, automotive, aerospace, and healthcare. Developed nations such as the United States and Germany are expanding due to the increased demand for photovoltaic systems and the anticipated rise in their utilization.
Future market growth is expected to be aided by the development of the high-speed communication industry, the rising need for high-precision micropositioning devices, the potential uses of piezoelectric technology in the medical device industry, and technological developments in composite materials and piezoelectric polymers.
Global Piezoelectric Devices Market: Segmentation
Global market classification for piezoelectric devices is done by product, application, and material.
Hard ceramics, soft ceramics, piezoelectric ceramics, piezoelectric crystals, piezoelectric polymers, piezoelectric composites, and other materials are the several product categories into which the market is divided.
Numerous industries, including the automotive, aerospace, medical, and consumer electronics sectors, heavily rely on piezoelectric sensors.
Piezoelectric sensors have a great degree of sensitivity and precision when it comes to detecting and measuring many physical factors, including force, vibration, acceleration, and pressure.
The market is divided into segments according to application, including actuators, sensors, motors, acoustic devices, generators, and others.
Electric actuators are becoming more and more popular as high-power, good rotational speed tools, which is predicted to grow the market over the projection period.
Transducers, actuators, sensors, motors, stack actuators, generators, strip actuators, and single-layer piezoelectric generators are the several categories that make up the material section.
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Global Piezoelectric Devices Market: Regional Analysis
Because of its rapid growth in piezoelectric devices, Asia-Pacific is the world's largest market for these devices. Due to their enormous potential in a variety of applications, piezoelectric devices are becoming more and more in demand in growing economies like South Korea, China, and India. The research and development of piezoelectric materials and devices has a long history in Europe's established piezoelectric device business.
It is fueled by the expanding need for piezoelectric devices across a range of sectors, including the industrial, automotive, aerospace, and medical fields. Because electronic manufacturing facilities have been established in South Korea, China, Japan, Taiwan, and other countries, the Asia Pacific (APAC) region is anticipated to see strong profitability. The market for piezoelectric materials in the area might grow as a result of major enterprises' expanding manufacturing facilities.
Due to the increasing adoption of portable electronics technology brought about by advancements in communication, digitalization, and information technology, North America has become another profitable market for piezoelectric devices. The market for piezoelectric devices is driven by the region's rapid urbanization and significant investments made by international healthcare solution providers in Latin America to address the needs of cutting-edge surgical instruments and medical solutions.
Global Piezoelectric Devices Market: Competitive Players
Key market players in the global piezoelectric devices market include;
- Noliac A/S
- CTS Corporation
- APC International, Ltd.
- Sparkler Ceramics
- Morgan Advanced Materials
- Piezo Solutions
- Mad City Labs Inc.
- Piezomechanik Dr. Lutz Pickelmann GmbH
- Aerotech Inc.
- CeramTec
- Harris Corporation
- Exelis, Inc.
- Piezosystem Jena GmbH.
- Physik Instrumente (PI) GmbH Co. Kg.
- Ceramtec GmbH.
- US Eurotek, Inc.
The global piezoelectric devices market is segmented as follows;
Global Piezoelectric Devices Market: By Product Segment Analysis
- Hard Ceramics
- Soft Ceramics
- Piezoelectric Ceramics
- Piezoelectric Crystals
- Piezoelectric Polymers
- Piezoelectric Composites
- Others
Global Piezoelectric Devices Market: By Application Segment Analysis
- Healthcare
- Electronic Devices
- Industrial Manufacturing
- Imaging Devices
- Oil Gas
- Diagnostic Equipment
- Aerospace Defense
- Consumer Electronics
- Information Communication
- Automotive
- Wearable Devices
- Others
Global Piezoelectric Devices Market: By Material Segment Analysis
- Transducers
- Actuators
- Sensors
- Multilayer Piezoelectric Generators
- Motors
- Stack Actuators
- Generators
- Strip Actuators
- Single-Layer Piezoelectric Generators
Global Piezoelectric Devices Market: Regional Segment Analysis
- North America U.S.
- Europe UK France Germany
- Asia Pacific China Japan India
- Latin America Brazil
- Middle East and Africa
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The market for piezoelectric materials worldwide is quite fragmented and fiercely competitive. The leading players in the market are always putting different growth strategies into practice in order to keep a competitive edge. These companies use innovations, mergers acquisitions, partnerships, and collaborations to survive in the cutthroat industry. The main market players are also always focusing on RD in order to offer the industry the most efficient and cost-effective solutions.
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