New York, United States , July 17, 2024 (GLOBE NEWSWIRE) -- The Global Piezoelectric Devices Market Size is to Grow from USD 30.35 Billion in 2023 to USD 60.87 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.21% during the projected period.
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Piezoelectric devices can generate electrical signals from mechanical vibrations or deformations and vice versa. The phenomena might be observed in materials, including crystalline quartz or specialized ceramics, where an applied mechanical force results in an electrical charge or an applied voltage induces mechanical deformation. Due to its numerous uses in a variety of sectors, piezoelectric instruments are seeing substantial growth in commerce. To deliver precise diagnoses in the medical area, ultrasonography uses piezoelectric sensors. They enable industrial automation by enabling precise motion control in actuators and robotics. In the automotive and aerospace industries, piezoelectric devices are also critical for sensor and energy harvesting applications. Prominent names in the aerospace industry often produce, sell, and service commercial aircraft, spacecraft, and satellites. The aviation sector requires innovative and superior solutions to increase the efficiency, lifespan, and performance of airplanes, planes, helicopters, submarines, etc. As part of the active vibration-dampening strategy, modern airplanes include a range of mechanical structures and parts that are checked using piezoelectric actuators to avoid undesired vibrations, lower noise levels, minimize fuel consumption, and limit energy waste. However, the shortage of skilled personnel in the field of piezoelectric technology is the main problem that might limit the market share of piezoelectric devices. Since the need for these devices is increasing across several regions, engineers, researchers, and technicians need to possess a specific understanding of materials science and electronics.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Piezoelectric Devices Market Size, Share, and COVID-19 Impact Analysis, By Product (Ceramics, Polymers, Composites, and Others), By Application (Actuators, Sensors, Motors, Acoustic Devices, Generators, and Others), By Vertical (Oil and Gas, Automotive, Aerospace and Defence, Medical and Healthcare, Communication), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The ceramics segment is anticipated to hold the greatest share of the global piezoelectric devices market during the projected timeframe.
Based on the product, the global piezoelectric devices market is divided into ceramics, polymers, composites, and others. Among these, the ceramics segment is anticipated to hold the greatest share of the global piezoelectric devices market during the projected timeframe. The two other kinds of ceramics are lead zirconate titanate and lead-free ceramics. As lead zirconate titanate is frequently used to make actuators and transducers, changing the material can easily alter how well it performs.
The actuators segment is anticipated to hold the largest share of the global piezoelectric devices market during the projected timeframe.
Based on the application, the global piezoelectric devices market is divided into actuators, sensors, motors, acoustic devices, generators, and others. Among these, the actuators segment is anticipated to hold the largest share of the global piezoelectric devices market during the projected timeframe. As high-power, aesthetically pleasing rotational speed tools, electric actuators are growing in popularity, and this trend is expected to fuel market growth throughout the projected period. Due to the increased demand for piezo generators for their ability to create low-frequency sound waves, the market is expected to develop.
The aerospace and defense segment is predicted to hold the greatest share of the piezoelectric devices market during the estimated period.
Based on the vertical, the global piezoelectric devices market is divided into oil and gas, automotive, aerospace and defense, medical and healthcare, and communication. Among these, the aerospace and defense segment is predicted to hold the greatest share of the piezoelectric devices market during the estimated period. Piezoelectric sensors and actuators are used in aerospace and defense applications for active noise reduction, vibration monitoring, and structural health monitoring. Piezoelectric materials are used in the power and control of small-scale aerospace and military systems, such as unmanned aerial vehicles and micro air vehicles.
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Asia Pacific is expected to hold the largest share of the global piezoelectric devices market over the forecast period.
Asia Pacific is expected to hold the largest share of the global piezoelectric devices market over the forecast period. Asia Pacific dominated the regional piezoelectric device market due to growing government initiatives to boost the manufacturing sector in developing countries, growing awareness of the need to adopt energy harvesting systems to protect natural resources and reduce excess energy consumption, and rising foreign investment in emerging economies' industrial and manufacturing sectors such as China and Japan.
North America is predicted to grow at the fastest pace in the global piezoelectric devices market during the projected timeframe. North America's market is composed of emerging countries in the US and Canada, as well as cutting-edge surgical equipment and medical technologies that are expected to drive the industry throughout the projected period. In the fields of portable electronics technology and communications, piezoelectric devices are growing in popularity.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global piezoelectric devices market include Exelis, Inc., Morgan Advanced Materials, APC International, Ltd., Piezosystem Jena GmbH, Piezomechanik Dr. Lutz Pickelmann GmbH, L3HARRIS TECHNOLOGIES, INC., GmbH & Co. KG., Noliac A/S, Kistler Group, Physik Instrumente (PI) GmbH & Co. Kg., Aerotech Inc., CTS Corporation, Ceramtec GmbH, Mad City Labs Inc., Piezo Solutions, US Eurotek, Inc., Others.
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Recent Developments
- In April 2023, a research team collaborated with the College of Medicine at the Catholic University of Korea, led by Professor Keon Jae Lee of the Department of Materials Science and Engineering at KAIST, to effectively develop a wearable blood pressure sensor based on extremely sensitive piezoelectric technology.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global piezoelectric devices market based on the below-mentioned segments:
Global Piezoelectric Devices Market, By Product
- Ceramics
- Polymers
- Composites
- Others
Global Piezoelectric Devices Market, By Application
- Actuators
- Sensors
- Motors
- Acoustic devices
- Generators
- Others
Global Piezoelectric Devices Market, By Vertical
- Oil and Gas
- Automotive
- Aerospace and Defence
- Medical and Healthcare
- Communication
Global Piezoelectric Devices Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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