Piezoelectric Device Market
Piezoelectric Devices Market Size, Share & Trends Analysis Report by Product (Sensors, Actuators & Motors, Generators, Transducers, and Others), by Material (Crystals, Ceramic, Polymer, and Composites), and by Application (Aerospace & Defense, Automotive, Industrial Manufacturing, Communication, Healthcare, and Other) Forecast Period (2024-2031)
Piezoelectric devices market is anticipated to grow at a CAGR of 4.5% during the forecast period (2024-2031). Piezoelectric devices are passive devices that use the piezoelectric effect to convert mechanical energy into electrical energy or vice versa. The piezoelectric effect occurs in certain materials, such as quartz and tourmaline, which generate an electric charge when pressure is applied or change dimensions when voltage is applied. The market growth is attributed to the high demand for piezoelectric devices in several end-user industries owing to easy installation, high-frequency response, and sustainability. These devices are self-powered, flexible, compact, and maintenance-free. Such benefits of piezoelectric devices are aiding the global market growth. The high cost of its raw materials increases the overall product cost, which may hinder market growth.
Market Dynamics
Development of Wireless & Microelectromechanical Systems (MEMS) Technology
The development of wireless technology and MEMS technology has substituted the flaws of electrochemical batteries as power sources by the integration of piezoelectric technology, thereby driving the demand for piezoelectric devices. The ‘piezoelectric MEMS technology’ is required to develop high-performance thin films and convert piezo-thin films into futuristic naval sensors and devices for underwater applications. In May 2023, Indian Institute of Technology Madras (IIT Madras) researchers partnered with Defense Research and Development Organization (DRDO) scientists to develop sensor technology for naval applications. Such market developments are anticipated to promote global market growth.
Market Segmentation
- Based on the product, the market is segmented into (sensors, actuators & motors, generators, transducers, and others (transformers and resonators).
- Based on the material, the market is segmented into crystals, ceramic, polymer, and composite.
- Based on the application, the market is segmented into aerospace & defense, automotive, industrial manufacturing, communication, healthcare, and other (keyboards, printers, desktops, speakers, energy harvesting/wearables).
Piezoelectric Composites to Exhibit Significant Market Growth
The growing adoption of composites as a raw material for piezoelectric device manufacturing owing to its high coupling factor, low acoustic impedance, strong human tissue matching, mechanical stability, and wide bandwidth is a major contributor to the high growth of this market segment. The growing use of composites as acoustic fillers is further promoting the segment’s growth.
Healthcare Industry to Exhibit Significant Market Growth
In the healthcare industry, piezoelectric devices are used in ultrasound for precise diagnostics. These sensors can be worn or implanted in the body to monitor vital signs and measure pressure changes associated with blood flow. They can also be used in stethoscopes as they are robust and sensitive. Cochlear implants, dental scaling, and the development of synthetic skin are some other application areas of piezoelectric devices in the healthcare sector. The growing demand for piezoelectric devices in the healthcare sector owing to its large scope of application is a key factor anticipated to drive the growth of this market segment.
In May 2024, TDK Corp., a global provider of electronic solutions for the smart society entered a partnership with the Gopalakrishnan-Deshpande Center for Innovation & Entrepreneurship (GDC) at IIT Madras to launch 'TIIC Accelerator Program 2024'. The program aims to foster innovation in the healthcare technology and diagnostics sector arising from Indian STEM university researchers and startups.
Regional Outlook
The global piezoelectric devices market is segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Piezoelectric Devices Market Growth by Region 2024-2031
North America Holds Major Market Share
The regional market growth is attributed to the presence of several major end-user industries of piezoelectric devices across the region. The advanced healthcare infrastructure of the US paves the way for advanced medical devices that use piezoelectric devices. The huge budget for the aerospace & defense sector creates a huge scope for the growing demand across this sector. For instance, in March 2024, the Biden-Harris Administration submitted to Congress a proposed Fiscal Year (FY) 2025 budget request of $849.8 billion for the Department of Defense (DoD), consistent with the caps approved by Congress under the Financial Responsibility Act (FRA) of 2023.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the piezoelectric devices market include Aerotech Inc., APC International Ltd., Morgan Advanced Materials, Physik Instrumente (PI) GmbH & Co. KG., and piezo.com among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.
Recent Development
- In January 2024, A.M. Fitzgerald & Associates, LLC (AMFitzgerald), a microelectromechanical systems (MEMS) product development company, and Sumitomo Precision Products Co., Ltd. (SPP)’s MEMS Infinity entered a strategic and technical alliance to expedite the commercialization of thin-film PZT MEMS chip technologies. PZT is a versatile piezoelectric material that is sought after for MEMS sensors or actuators serving high-growth applications such as True Wireless Stereo, automotive LiDAR, medical ultrasound imaging, AR/VR, haptics and other applications that require precise performance in a robust, ultra-miniaturized form factor.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the piezoelectric devices market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Industry Trends
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Piezoelectric Devices Market by Product
4.1.1. Sensors
4.1.2. Actuators & Motors
4.1.3. Generators
4.1.4. Transducers
4.1.5. Others (Transformers and Resonators)
4.2. Global Piezoelectric Devices Market by Material
4.2.1. Crystals
4.2.2. Ceramic
4.2.3. Polymer
4.2.4. Composite
4.3. Global Piezoelectric Devices Market by Application
4.3.1. Aerospace & Defense
4.3.2. Automotive
4.3.3. Industrial Manufacturing
4.3.4. Communication
4.3.5. Healthcare
4.3.6. Other (Electronics)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Aerotech, Inc.
6.2. Apc International Ltd.
6.3. Cedrat Technologies SA
6.4. Ceramatec Gmbh
6.5. Emfit Ltd.
6.6. EnOcean Gmbh
6.7. Ionix Advanced Technologies
6.8. Kyocera Corp.
6.9. L3harris Technologies, Inc
6.10. Mad City Labs, Inc.
6.11. Microgen Systems, Inc
6.12. Morgan Advanced Materials plc
6.13. Nanomotion Motion Solutions
6.14. Oxsensis Ltd.
6.15. Physik Instrumente (Pi) Gmbh & Co. Kg.
6.16. Piezo Systems Jena Gmbh
6.17. Piezo.com
6.18. Piezocryst Advanced Sensorics Gmbh
6.19. Piezomechanik Dr. Lutz Pickelmann Gmbh
1. Global Piezoelectric Devices Market Research And Analysis By Product, 2023-2031 ($ Million)
2. Global Piezoelectric Sensors Market Research And Analysis By Region, 2023-2031 ($ Million)
3. Global Piezoelectric Actuators & Motors Market Research And Analysis By Region, 2023-2031 ($ Million)
4. Global Piezoelectric Generators Market Research And Analysis By Region, 2023-2031 ($ Million)
5. Global Piezoelectric Transducers Market Research And Analysis By Region, 2023-2031 ($ Million)
6. Global Other Piezoelectric Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
7. Global Piezoelectric Devices Market Research And Analysis By Material, 2023-2031 ($ Million)
8. Global Crystals-Based Piezoelectric Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
9. Global Ceramic-Based Piezoelectric Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
10. Global Polymer-Based Piezoelectric Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
11. Global Composite-Based Piezoelectric Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
12. Global Piezoelectric Devices Market Research And Analysis By Application, 2023-2031 ($ Million)
13. Global Piezoelectric Devices In Aerospace & Defense Market Research And Analysis By Region, 2023-2031 ($ Million)
14. Global Piezoelectric Devices In Automotive Market Research And Analysis By Region, 2023-2031 ($ Million)
15. Global Piezoelectric Devices In Industrial Manufacturing Market Research And Analysis By Region, 2023-2031 ($ Million)
16. Global Piezoelectric Devices In Communication Market Research And Analysis By Region, 2023-2031 ($ Million)
17. Global Piezoelectric Devices In Healthcare Market Research And Analysis By Region, 2023-2031 ($ Million)
18. Global Piezoelectric Devices In Other Applications Market Research And Analysis By Region, 2023-2031 ($ Million)
19. Global Piezoelectric Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
20. North American Piezoelectric Devices Market Research And Analysis By Country, 2023-2031 ($ Million)
21. North American Piezoelectric Devices Market Research And Analysis By Product, 2023-2031 ($ Million)
22. North American Piezoelectric Devices Market Research And Analysis By Material, 2023-2031 ($ Million)
23. North American Piezoelectric Devices Market Research And Analysis By Application, 2023-2031 ($ Million)
24. European Piezoelectric Devices Market Research And Analysis By Country, 2023-2031 ($ Million)
25. European Piezoelectric Devices Market Research And Analysis By Product, 2023-2031 ($ Million)
26. European Piezoelectric Devices Market Research And Analysis By Material, 2023-2031 ($ Million)
27. European Piezoelectric Devices Market Research And Analysis By Application, 2023-2031 ($ Million)
28. Asia-Pacific Piezoelectric Devices Market Research And Analysis By Country, 2023-2031 ($ Million)
29. Asia-Pacific Piezoelectric Devices Market Research And Analysis By Product, 2023-2031 ($ Million)
30. Asia-Pacific Piezoelectric Devices Market Research And Analysis By Material, 2023-2031 ($ Million)
31. Asia-Pacific Piezoelectric Devices Market Research And Analysis By Application, 2023-2031 ($ Million)
32. Rest Of The World Piezoelectric Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
33. Rest Of The World Piezoelectric Devices Market Research And Analysis By Product, 2023-2031 ($ Million)
34. Rest Of The World Piezoelectric Devices Market Research And Analysis By Material, 2023-2031 ($ Million)
35. Rest Of The World Piezoelectric Devices Market Research And Analysis By Application, 2023-2031 ($ Million)
1. Global Piezoelectric Devices Market Share By Product, 2023 Vs 2031 (%)
2. Global Piezoelectric Sensors Market Share By Region, 2023 Vs 2031 (%)
3. Global Piezoelectric Actuators & Motors Market Share By Region, 2023 Vs 2031 (%)
4. Global Piezoelectric Generators Market Share By Region, 2023 Vs 2031 (%)
5. Global Piezoelectric Transducers Market Share By Region, 2023 Vs 2031 (%)
6. Global Other Piezoelectric Devices Market Share By Region, 2023 Vs 2031 (%)
7. Global Piezoelectric Devices Market Share By Material, 2023 Vs 2031 (%)
8. Global Crystal-Based Piezoelectric Devices Market Share By Region, 2023 Vs 2031 (%)
9. Global Ceramic-Based Piezoelectric Devices Market Share By Region, 2023 Vs 2031 (%)
10. Global Polymer-Based Piezoelectric Devices Market Share By Region, 2023 Vs 2031 (%)
11. Global Composite-Based Piezoelectric Devices Market Share By Region, 2023 Vs 2031 (%)
12. Global Piezoelectric Devices Market Share By Application, 2023 Vs 2031 (%)
13. Global Piezoelectric Devices In Aerospace & Defense Market Share By Region, 2023 Vs 2031 (%)
14. Global Piezoelectric Devices In Automotive Market Share By Region, 2023 Vs 2031 (%)
15. Global Piezoelectric Devices In Industrial Manufacturing Market Share By Region, 2023 Vs 2031 (%)
16. Global Piezoelectric Devices In Communication Market Share By Region, 2023 Vs 2031 (%)
17. Global Piezoelectric Devices In Healthcare Market Share By Region, 2023 Vs 2031 (%)
18. Global Piezoelectric Devices In Other Applications Market Share By Region, 2023 Vs 2031 (%)
19. Global Piezoelectric Devices Market Share By Region, 2023 Vs 2031 (%)
20. US Piezoelectric Devices Market Size, 2023-2031 ($ Million)
21. Canada Piezoelectric Devices Market Size, 2023-2031 ($ Million)
22. UK Piezoelectric Devices Market Size, 2023-2031 ($ Million)
23. France Piezoelectric Devices Market Size, 2023-2031 ($ Million)
24. Germany Piezoelectric Devices Market Size, 2023-2031 ($ Million)
25. Italy Piezoelectric Devices Market Size, 2023-2031 ($ Million)
26. Spain Piezoelectric Devices Market Size, 2023-2031 ($ Million)
27. Rest Of Europe Piezoelectric Devices Market Size, 2023-2031 ($ Million)
28. India Piezoelectric Devices Market Size, 2023-2031 ($ Million)
29. China Piezoelectric Devices Market Size, 2023-2031 ($ Million)
30. Japan Piezoelectric Devices Market Size, 2023-2031 ($ Million)
31. South Korea Piezoelectric Devices Market Size, 2023-2031 ($ Million)
32. Rest Of Asia-Pacific Piezoelectric Devices Market Size, 2023-2031 ($ Million)
33. Rest Of The World Piezoelectric Devices Market Size, 2023-2031 ($ Million)
34. Latin America Piezoelectric Devices Market Size, 2023-2031 ($ Million)
35. Middle East And Africa Piezoelectric Devices Market Size, 2023-2031 ($ Million)
