Global Piezoelectric Devices Market is valued approximately at USD 29.10 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.4% over the forecast period 2023-2030. Piezoelectric devices are specialized components that convert mechanical energy into electrical energy and vice versa. They leverage the piezoelectric effect, where certain materials generate an electric charge in response to mechanical stress or deformation. Conversely, applying an electric field to these materials induces mechanical deformation. Commonly used materials exhibiting piezoelectric properties include quartz, ceramics, and certain crystals. Piezoelectric devices find applications in various fields, such as sensors, actuators, and transducers. They are employed in diverse technologies, ranging from medical ultrasound devices and sensors in industrial applications to precise positioning systems and energy harvesting devices. The ability to efficiently convert between mechanical and electrical energy makes piezoelectric devices valuable in numerous technological advancements and applications. The rising trend of high machine efficiency and employee safety, soaring demand for piezoelectric devices from automobile manufacturers, and rise in adoption of piezoelectric products in aerospace industry are the key factors that are primarily contributing to the market growth across the globe.
In addition, the growing investments in renewable energy projects is a major factor that is stipulating the demand of piezoelectric devices in the global market. For instance, in June 2021, the Board of Executive Directors of the World Bank approved a financing package totaling USD 212 million, which includes a USD 177 million loan from the International Bank for Reconstruction and Development (IBRD), for a new initiative in Ukraine. This project aims to strengthen the Ukrainian power system, enabling synchronization with the European electricity grid and facilitating the decarbonization of the country's power sector. Piezoelectric energy harvesting technologies can be integrated into smart grid systems to supplement traditional energy sources and enhance grid stability and reliability. By capturing energy from mechanical vibrations in infrastructure, such as bridges, roads, and buildings, piezoelectric devices can contribute to the decentralization and diversification of energy sources within the grid. Thus, these aforementioned factors are propelling the growth of Piezoelectric Devices Market during the estimated period. Moreover, the rising integration of piezoelectric technology in portable devices, as well as growing demand for piezoelectric materials in energy conservation & industrial sector present various lucrative opportunities over the forecast years. However, the development of alternative materials and lack of skilled labor are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Piezoelectric Devices Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the substantial investments in research and development by leading manufacturers of piezoelectric devices, growing emphasis on energy efficiency, coupled with the ongoing advancements in piezoelectric materials, manufacturing techniques, and sensor technologies. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rising demand for piezoelectric sensors and actuators across diverse applications, rise in advancements in materials science and microfabrication techniques, as well as emergence of Industrial IoT (IIoT) and smart manufacturing are significantly propelling the market demand across the region.
Major market players included in this report are:
- Piezo System Jena (Germany)
- Murata (Japan)
- Morgan Advanced Materials (U.K.)
- Mad City Labs, Inc. (U.S.)
- Poliak A/S (Denmark)
- CTS Corporation (U.S.)
- Piezomechanik Dr. Lutz Pickelmann GmbH (Germany)
- Physik Instrumente (Germany)
- CeramTec (Germany)
- APC International, Ltd. (U.S.)
Recent Developments in the Market:
- In February 2022, CTS Corporation- a global semiconductor manufacturer announced that the company has completed the acquisition of TEWA Temperature Sensors SP and its affiliated entities for a total sum of USD 24.5 million. Renowned for its superior ceramic technology, TEWA is widely recognized for developing high-quality temperature sensors renowned for their exceptional stability and reliability. This technological edge has been instrumental in driving TEWA's substantial growth within the industry.
- In September 2020, STMicroelectronics, a leading semiconductor industry player known for its expertise in Micro-Electromechanical Systems (MEMS) technology, partnered with A-STAR's IME and ULVAC to set up an 8-inch research and development line focusing on Piezo MEMS technology. This facility is likely to be located within ST's Singapore manufacturing plant, which aims to drive innovation in MEMS technology.
Global Piezoelectric Devices Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Type, Application, Industry, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
By Application:
- Sensors
- Transducers
- Motors
- Actuators
- Others
By Industry:
- Automotive
- Healthcare
- Aerospace & Defense
- Consumer Electronics
- Manufacturing
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Piezoelectric Devices Market, by region, 2020-2030 (USD Billion)
- 1.2.2.Piezoelectric Devices Market, by Type, 2020-2030 (USD Billion)
- 1.2.3.Piezoelectric Devices Market, by Application, 2020-2030 (USD Billion)
- 1.2.4.Piezoelectric Devices Market, by Industry, 2020-2030 (USD Billion)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Piezoelectric Devices Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Piezoelectric Devices Market Dynamics
- 3.1.Piezoelectric Devices Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Increasing investment in renewable energy projects
- 3.1.1.2.Rising demand for piezoelectric devices from automobile manufacturers
- 3.1.2.Market Challenges
- 3.1.2.1.Development of alternative materials
- 3.1.2.2.Lack of skilled labour
- 3.1.3.Market Opportunities
- 3.1.3.1.Rising integration of piezoelectric technology in portable devices
- 3.1.3.2.Growing demand for piezoelectric materials in energy conservation & industrial sector
Chapter 4.Global Piezoelectric Devices Market: Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economic
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Piezoelectric Devices Market, by Type
- 5.1.Market Snapshot
- 5.2.Global Piezoelectric Devices Market by Type, Performance - Potential Analysis
- 5.3.Global Piezoelectric Devices Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4.Piezoelectric Devices Market, Sub Segment Analysis
- 5.4.1.Disc
- 5.4.2.Plate
- 5.4.3.Ring
Chapter 6.Global Piezoelectric Devices Market, by Application
- 6.1.Market Snapshot
- 6.2.Global Piezoelectric Devices Market by Application, Performance - Potential Analysis
- 6.3.Global Piezoelectric Devices Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 6.4.Piezoelectric Devices Market, Sub Segment Analysis
- 6.4.1.Sensors
- 6.4.2.Transducers
- 6.4.3.Motors
- 6.4.4.Actuators
- 6.4.5.Others
Chapter 7.Global Piezoelectric Devices Market, by Industry
- 7.1.Market Snapshot
- 7.2.Global Piezoelectric Devices Market by Industry, Performance - Potential Analysis
- 7.3.Global Piezoelectric Devices Market Estimates & Forecasts by Industry 2020-2030 (USD Billion)
- 7.4.Piezoelectric Devices Market, Sub Segment Analysis
- 7.4.1.Automotive
- 7.4.2.Healthcare
- 7.4.3.Aerospace & Defense
- 7.4.4.Consumer Electronics
- 7.4.5.Manufacturing
- 7.4.6.Others
Chapter 8.Global Piezoelectric Devices Market, Regional Analysis
- 8.1.Top Leading Countries
- 8.2.Top Emerging Countries
- 8.3.Piezoelectric Devices Market, Regional Market Snapshot
- 8.4.North America Piezoelectric Devices Market
- 8.4.1.U.S. Piezoelectric Devices Market
- 8.4.1.1.Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2.Application breakdown estimates & forecasts, 2020-2030
- 8.4.1.3.Industry breakdown estimates & forecasts, 2020-2030
- 8.4.2.Canada Piezoelectric Devices Market
- 8.5.Europe Piezoelectric Devices Market Snapshot
- 8.5.1.U.K. Piezoelectric Devices Market
- 8.5.2.Germany Piezoelectric Devices Market
- 8.5.3.France Piezoelectric Devices Market
- 8.5.4.Spain Piezoelectric Devices Market
- 8.5.5.Italy Piezoelectric Devices Market
- 8.5.6.Rest of Europe Piezoelectric Devices Market
- 8.6.Asia-Pacific Piezoelectric Devices Market Snapshot
- 8.6.1.China Piezoelectric Devices Market
- 8.6.2.India Piezoelectric Devices Market
- 8.6.3.Japan Piezoelectric Devices Market
- 8.6.4.Australia Piezoelectric Devices Market
- 8.6.5.South Korea Piezoelectric Devices Market
- 8.6.6.Rest of Asia Pacific Piezoelectric Devices Market
- 8.7.Latin America Piezoelectric Devices Market Snapshot
- 8.7.1.Brazil Piezoelectric Devices Market
- 8.7.2.Mexico Piezoelectric Devices Market
- 8.8.Middle East & Africa Piezoelectric Devices Market
- 8.8.1.Saudi Arabia Piezoelectric Devices Market
- 8.8.2.South Africa Piezoelectric Devices Market
- 8.8.3.Rest of Middle East & Africa Piezoelectric Devices Market
Chapter 9.Competitive Intelligence
- 9.1.Key Company SWOT Analysis
- 9.1.1.Company 1
- 9.1.2.Company 2
- 9.1.3.Company 3
- 9.2.Top Market Strategies
- 9.3.Company Profiles
- 9.3.1.Piezo System Jena (Germany)
- 9.3.1.1.Key Information
- 9.3.1.2.Overview
- 9.3.1.3.Financial (Subject to Data Availability)
- 9.3.1.4.Product Summary
- 9.3.1.5.Recent Developments
- 9.3.2.Murata (Japan)
- 9.3.3.Morgan Advanced Materials (U.K.)
- 9.3.4.Mad City Labs, Inc. (U.S.)
- 9.3.5.Poliak A/S (Denmark)
- 9.3.6.CTS Corporation (U.S.)
- 9.3.7.Piezomechanik Dr. Lutz Pickelmann GmbH (Germany)
- 9.3.8.Physik Instrumente (Germany)
- 9.3.9.CeramTec (Germany)
- 9.3.10.APC International, Ltd. (U.S.)
Chapter 10.Research Process
- 10.1.Research Process
- 10.1.1.Data Mining
- 10.1.2.Analysis
- 10.1.3.Market Estimation
- 10.1.4.Validation
- 10.1.5.Publishing
- 10.2.Research Attributes
- 10.3.Research Assumption