Piezoelectric Devices Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

Piezoelectric Devices Market Size

Piezoelectric Devices Market Trends & Drivers

Usage of Energy Harvesting Systems Is Increasing

Energy harvesting is a process via which the energy collected from external sources, such as solar power, heat, and wind, is directly converted to electricity and transferred to a range of equipment. Moreover, for later usage, the energy can be accumulated in batteries or ultra-capacitors. For instance, piezoelectric generators enable the transformation of the energy contained in vibrations into usable electrical power. The main advantage of piezoelectric energy harvesters is MEMS integration and miniaturization, which is why they are deployed to power IoT applications and low-power wireless sensor systems.

In addition, the technology provides cost-effective power solutions, helping boost the energy efficiency by providing a simple design with few moving parts at a low cost. Energy harvesters are widely being installed on roads to generate power when vehicles pass over them.

Piezoelectric Devices Market Analysis

Sensors Are Expected To Grow at Significant Rate

The sensors category is expected to grow at a significant rate during the forecast period. Piezoelectric sensor demand is growing because of their adoption in various industries, such as autonomous vehicles, manufacturing, and electronics, to detect the minutest of changes in energy, which they convert to electrical signals.

In addition, piezoelectric sensors are used to measure the force of touch, flex motions, shocks, and vibrations in many industries, such as healthcare, aviation, and electronics. These devices offer high-frequency responses, to sense sudden parameter differences, detect events in microseconds, and offer a linear output. These sensors can transform pressure, acceleration, physical, and other types of inputs into an electrical signal.

In addition, accelerometer sensors can measure the vibration in various machines, such as pumps, motors, and motor bearings.

Generators Are Expected to Grow at Highest Rate

The generators category is expected to grow at the highest CAGR, of 6.4%, over the forecast period. The demand for these generators is increasing because of their capability to convert mechanical power into electricity and their usage in energy harvesting devices. The growth would also be due to several technological improvements, such as nano-scaling (nanogenerators) and vibration energy harvesting.

These power sources are developed in different sizes to integrate them into microelectromechanical systems. These products are also used in various portable medical devices that monitor glucose, blood pressure, and weight, including smartwatches and digital scales.

Polymers To Grow at Highest CAGR

The polymers category is expected to grow at the highest CAGR, of 6.1%, during the forecast period. Polyvinylidene fluoride (PVDF) and pure thermoplastic fluoropolymers are widely adopted because of their low price, non-reactive nature, and high sensitivity to pressure. Thus, PVDF’s piezoelectric applications include electronics, aerospace, and military. The piezoelectric PVDF material is useful in the development of tactile sensor arrays, while active detectors made from this material help examine vibrations, produce electricity, and evaluate structural health. Additionally, such polymers are used in the healthcare industry to create sensitive artificial skin. Similarly, they are used in the display panels used at tennis courts and other types of sports arenas.

Aerospace & Defense Sector Witness Significant Growth

The aerospace & defense category is set to witness a significant piezoelectric devices market growth rate, attributed to the extensive usage of these devices in the aviation, defense, and aerospace sector, where piezoelectric actuators dampen vibrations, thus reducing noise and energy wastage and improving the fuel efficiency of aircraft. In the last few years, the lowering of noise levels in helicopters has gained significant focus. The aerospace industry is also increasing the usage of electromechanical piezoelectric-based systems to build a compactable system with a fast reaction and a high power density.

Discs Hold Largest Revenue Share

The discs category held the largest market revenue share in 2022, and it is expected to retain its position over the forecast period. A 27-mm piezoelectric disc can produce a 3 V to 5 V, depending on the force applied, while a 35-mm disc produces 4 V to 6.2 V. Piezo discs’ small and lightweight construction are driving this category. These discs are used in various applications, such as watches, motion sensors, ultrasonic cleaning equipment, ultrasonic power transducers, lithotripters, ultrasonic welding machines, and high-frequency loudspeakers.

The discs are helpful in applications where sound production from a small electronic circuit is needed, such as fire alarms and buzzers. Other applications include valves and air and fluid pumps. These devices do not need lubrication and can operate in an extreme vacuum and cryogenic environments. Moreover, in the healthcare sector, insulin dosing devices and blood pressure monitors have piezo disc actuators for precision.

Regional Analysis

Europe Is Expected to Grow at Significant Rate

The market in Europe is set to grow at a significant rate, ascribed to the presence of a large number of medical device, automotive, and industrial manufacturing companies in the region. Additionally, a number of firms, such as Physik Instrumente (PI) GmbH & Co. KG., CeramTec GmbH, and Jena GmbH piezosystem, offer piezoelectric-effect-based products for numerous applications.

The market growth is also influenced by the surge in the count of innovations in the high-speed communications sector, the rising need for high-precision micro-positioning equipment, and the technical improvements in piezoelectric composites and polymers. PZT ceramics are used in acoustic sensors for marine & military applications, such as sonobuoys, hydrophones, variable-depth and hull-mounted sonars, and towed arrays.

Moreover, in March 2021, Ceram Tec GmbH launched high-power ultrasonic surgery transducers for healthcare applications offering increased safety, higher precision, and more comfort for patients.

Market Breakdown

This report offers deep insights into the piezoelectric devices industry, with size estimation for 2019 to 2030, the major drivers, restraints, trends and opportunities, and competitor analysis.

Based on Product

• Sensors
• Actuators
  • Stack actuators
  • Strip actuators
  • Shear actuators
  • Tube actuators
• Motors
• Generators
• Transducers

Based on Material

• Crystals
• Ceramics
• Polymers
• Composites

Based on Application

• Aerospace and Defense
• Industrial Manufacturing
• Automotive
• Healthcare
  • Imaging devices
  • Diagnostic equipment
  • Surgical tools
• Information and Communication
• Consumer Electronics

Based on Element

• Discs
• Rings
• Plates

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E.

Top Piezoelectric Device Companies