Pune, India, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Piezoelectric devices are a type of technology that utilizes the piezoelectric effect, which is the capability of certain materials to create an electric charge in response to mechanical stress or pressure. These devices are designed to convert mechanical energy into electrical energy or vice versa. The key component of a piezoelectric device is a piezoelectric material, typically a crystal or ceramic, which undergoes deformation when subjected to an applied electric field or pressure.
Piezoelectric Devices Market in terms of revenue was estimated to be worth $30.35 billion in 2022 and is poised to reach $57.03 billion by 2030, growing at a CAGR of 7.2% from 2022 to 2030 according to a new report published by The Insight Partners.
The rising adoption of piezoelectric devices and polymers in biomedical and surgical applications rising opportunities to the piezoelectric devices market growth provides lucrative opportunities for the global market.
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Global Piezoelectric Devices Market Scope:
| Report Coverage | Details |
| Market Size Value in | USD 30.35 Billion in 2022 |
| Market Size Value by | USD 57.03 Billion by 2030 |
| Growth rate | CAGR of 7.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| Segments covered | Product, Material, Application, and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends |
The market has been experiencing significant growth in recent years. These devices find applications across various industries, including automotive, healthcare, consumer electronics, industrial manufacturing, and aerospace, among others. Firstly, advancements in technology and materials have led to improved performance and miniaturization of the piezoelectric devices market, enabling their integration into smaller and more complex systems. Additionally, the increasing demand for energy harvesting and renewable energy sources has driven the adoption for power generation and energy harvesting applications. Moreover, the rising need for precise and accurate control in various applications, such as robotics, medical imaging, and Piezoelectric Devices, has boosted the demand for piezoelectric actuators and sensors. Piezoelectric devices are a type of technology that utilizes the piezoelectric effect, which is the capability of certain materials to create an electric charge in response to mechanical stress or pressure. These devices are designed to convert mechanical energy into electrical energy or vice versa.
The key component of a piezoelectric device is a piezoelectric material, typically a crystal or ceramic, which undergoes deformation when subjected to an applied electric field or pressure. Piezoelectric polymers are a class of materials that exhibit piezoelectric properties, allowing them to create an electric charge in response to applied mechanical stress or pressure. These polymers offer unique advantages such as flexibility, lightweight, and ease of processing, making them suitable for a wide range of applications. One of the key drivers for the growth of the polymers segment is the increasing demand for flexible and wearable electronics. Piezoelectric polymers can be integrated into flexible and stretchable electronic devices, enabling the development of innovative products such as wearable sensors, electronic skin, and bendable displays.
Rising Adoption of Piezoelectric Devices and Polymers in Biomedical and Surgical Applications Opportunities to the Market Provides Lucrative Opportunities for the Market:
Piezoelectric polymers are lightweight and elastic; these are valuable features for many biomedical devices. Polyvinylidene fluoride and its copolymers are the most examined materials due to their thermal stability, high piezoelectricity, significant chemical resistance, mechanical properties and good processability. PVDF is the most broadly used piezopolymer for tissue engineering applications. A piezoelectric scaffold made from PVDF can offer the mandatory stimulation for regenerating damaged bone and promoting neuron or cartilage growth and wound healing.
These piezoelectric biomolecules can show great potential in future biomedical applications due to their biodegradability and biocompatibility. Another benefit of using bioresorbable piezoelectric polymers for piezoelectric applications is their low dielectric constant compared with conventional piezo materials. Piezoelectric polymers are mostly categorized based on their topology and dipole moment. The piezoelectric properties are determined based on the polymer's internal dipole and molecular structure. From their chemical structure, biodegradable piezoelectric polymers can be categorized as i) natural biodegradable piezoelectric polymers and ii) synthetic biodegradable piezoelectric polymers. Piezoelectric sensors may generate their power by the application of mechanical stimulation, in contrast to more conventional sensors, which need an external power supply to function. Piezoelectric energy harvesters are a promising contender for self-powered bio-applications since they can transform mechanical energy into usable electrical energy at the nanoscale scale. As a result, piezoelectric energy harvesters also provide flexibility, compact size, superior biocompatibility, high electrical output, and universal adaptability that help to increase market growth. These piezoelectric properties are crucial for a variety of bio-applications, including implantable medical devices, bioMEMS, and medical implants, bolstering the market growth. Without the need for particular manufacturing, piezoelectric devices are a great option for achieving any in vivo or ex vivo biomedical application.
Piezoelectric Devices Market: Segmental Overview
Based on Product, the piezoelectric devices market is segmented into Piezoelectric Actuators, Piezoelectric Sensors, Piezoelectric Generators, Piezoelectric Motors, Piezoelectric Transducers, and Others. The “Piezoelectric Generators” segment dominates the piezoelectric devices market globally in terms of product segment. Devices called piezoelectric generators use mechanical vibrations or movements to produce electrical energy. When put under pressure or mechanical stress, they use the piezoelectric phenomenon to produce electrical charges. These generators are frequently utilized in energy harvesting applications since they can transform background vibrations or motion into useful electrical power. Due to its potential to power low-power electronic devices and sensors in numerous industries, piezoelectric generators have attracted a lot of attention recently. They have uses in IoT gadgets, wearable tech, wireless sensor networks, and remote monitoring systems.
Based on application, the market is segmented into Aerospace and Defense, Industrial and manufacturing, Automotive, Healthcare, Information and Communication, Consumer Electronics, and Others. The “Aerospace & Defense” segment accounts for the biggest share of the worldwide Piezoelectric Devices Market. Due to their capacity to offer precise control, sensing, and actuation capabilities, piezoelectric devices are widely used in aerospace and defense applications. They are used in aerospace applications such as structural health monitoring, vibration management, energy harvesting, and aerospace sensors. Sonar systems, acoustic sensors, and precise positioning systems all use devices in the defense industry. Piezoelectric devices are in high demand in the aerospace and defense sector because innovative technologies are needed in mission-critical applications that require high performance, dependability, and miniaturization. Hence, the piezoelectric devices market is growing significantly.
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Piezoelectric Devices Market Analysis: Competitive Landscape and Key Developments
APC International, Ltd., CTS Corporation, Harris Corporation, Kistler Group, Mide Technology Corp, Murata Manufacturing Co., Ltd, Omega Piezo Technologies, Physik Instrumente (PI) GmbH and Co. KG., Piezo Technologies, piezosystem jena GmbH are a few of the key companies operating in the Market. The Market leaders focus on new expansion, product launches, diversification, and acquisition strategies, which allow them to access prevailing business opportunities in the market.
Recent Developments:
- In March 2021, Ceram Tec GmbH launched high-power ultrasonic surgery transducers for healthcare applications, offering higher precision, increased safety, and more comfort for patients.
Go through further research published by The Insight Partners:
Piezoelectric Actuators and Motors Market - Global Analysis and Forecast to 2028.
Piezoelectric Actuators Market - Global Analysis and Forecast to 2030.
Piezoelectric Materials Market - Global Analysis and Forecast to 2030.
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