Piezoelectric Devices Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The Piezoelectric Devices Market size is projected to reach US$ 56.74 billion by 2031 from US$ 32.54 billion in 2023. The market is expected to register a CAGR of 7.2% during 2023–2031. The rising in the aerospace industry is likely to remain a key trend in the market.

Piezoelectric Devices Market Analysis

• Increasing consumption of piezoelectric devices in consumer electronics is driving the global piezoelectric devices market. The rise in Automation, technological developments, and the need for energy-efficient & compact solutions in various industries are propelling demand for piezoelectric devices.
• New applications, such as blood pressure monitoring, robotic operating tools, and energy harvesting, are fueling demand for piezoelectric devices. Furthermore, the unique properties of piezoelectric devices, such as fast response, high sensitivity, low power consumption, and compact size, make them valuable in several industries ranging from healthcare to consumer electronics.
• Technological advancements in piezoelectric devices offer lucrative opportunities to piezoelectric devices market players.

Piezoelectric Devices Market Overview

• Piezoelectric devices are pieces of equipment that use the piezoelectric effect to monitor pressure, temperature, acceleration, and force by transforming mechanical energy into an electrical pulse in the environment. Generators, actuators, sensors, and transducers are some of the most typical devices.
• When mechanical vibrations or stress are applied to them, piezoceramics such as quartz are manipulated to convert physical force into alternating current. These gadgets, nothing like their conventional equivalents, are not concerned by electromagnetic fields and radiations and may be utilized in harsh environments
• As a result, these devices are widely used in a variety of industries, including aerospace and military, automotive, consumer products, healthcare, information technology (IT), telecommunications, and manufacturing.

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Piezoelectric Devices Market Drivers and Opportunities

Increasing Automation in end-use industries

• End-use industries, including automotive, have pushed for Automation in their manufacturing lines. This ambition has increased the demand for devices such as transducers, sensors, motors and actuators to run the production line efficiently. As these devices use properties endowed by piezoelectric materials to measure various quantities such as pressure, acceleration, acoustic intensity, and strain, the demand for such materials is anticipated to expand considerably with the increasing dependence of industries on Automation.
• 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 ceramics and crystals, to create an electric charge when exposed 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.

Growing Technological Advancements

• Manufacturers are focusing on advancing material science, nanotechnology, and manufacturing techniques to develop more efficient, compact, and cost-effective piezoelectric devices.
• Furthermore, technical advancements such as the development of smaller nanogenerators are expected to lead the industry even further. Piezoelectric nanogenerators are developed in portable consumer electronics such as smartwatches, smartphones, tablets, and laptops to meet the device's energy and gather vibration energy needs.

Piezoelectric Devices Market Report Segmentation Analysis

The key segments that contributed to the derivation of the Piezoelectric Devices Market analysis are product, material, and application.

• Based on product, the Piezoelectric Devices Market is divided into piezoelectric sensors, piezoelectric actuators, piezoelectric motors, piezoelectric transducers, piezoelectric generators, and others.
• On the basis of material, the market is divided into piezoelectric crystals, piezoelectric ceramics, piezoelectric polymers, and piezoelectric composites.
• Based on application, the market is divided into aerospace and defense, information and communication, consumer electronics, automotive, healthcare, and others.

Piezoelectric Devices Market Share Analysis by Geography

• The Piezoelectric Devices Market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Piezoelectric Devices Market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the Piezoelectric Devices Market in these regions.

Piezoelectric Devices Market Regional Insights

The regional trends and factors influencing the Piezoelectric Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Piezoelectric Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Piezoelectric Devices Market Report Scope

Piezoelectric Devices Market Players Density: Understanding Its Impact on Business Dynamics

The Piezoelectric Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Piezoelectric Devices Market are:

1. Aerotech Inc.
2. CeramTec GmbH (B Partners)
3. L3harris Technologies Inc.
4. APC International Ltd
5. CTS Corporation (Kistler Holding AG)
6. Kistler Instruments India Pvt. Ltd

Disclaimer: The companies listed above are not ranked in any particular order.

Piezoelectric Devices Market News and Recent Developments

The Piezoelectric Devices Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Piezoelectric Devices Market are listed below:

• CTS Corporation announced the acquisition of Ferroperm Piezoceramics from Meggitt PLC for 525 million Danish Krone. Ferroperm specializes in the design and manufacture of high-performance piezoceramic components for use in complex and demanding medical, industrial, and aerospace applications. The company is recognized for its high-quality and innovative piezoceramic technology. (Source: CTS Corporation, Company Website, June 2022)
• The system, created through an international collaboration led by researchers at Japan's Tohoku University, combines piezoelectric composites, which generate electricity when physically stressed, with unidirectional carbon fiber (UDCF), which acts as both an electrode and a directional reinforcement. The team believes the technology is ideally suited for use in the aerospace, automobile, sports equipment, and medical industries. (Newsletter, January 2024).

Piezoelectric Devices Market Report Coverage and Deliverables

The “Piezoelectric Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Piezoelectric Devices Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Piezoelectric Devices Market trends as well as market dynamics such as drivers, restraints, and key opportunities.
• Detailed PEST/Porter’s Five Forces and SWOT analysis.
• Piezoelectric Devices Market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Piezoelectric Devices Market.
• Detailed company profiles.