Dublin, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The "Piezoelectric Devices Market by Product (Sensors, Actuator, Motor, Generator, Transducer, Transformers, Resonator), Material (Polymer, Crystal, Ceramic, Composites), Element (Discs, Rings, Plates), Application and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The piezoelectric devices market is valued at USD 32.7 billion in 2023 and is projected to reach USD 46.0 billion by 2028, growing at a CAGR of 7.0% from 2023 to 2028
Piezoelectricity is the phenomenon in which certain materials can generate an electric charge when subjected to mechanical stress. Piezoelectric devices, also known as energy harvesters, are devices that can convert mechanical vibrations, pressure, force, and acceleration into electrical energy. They play a crucial role in applications where external power sources are unavailable or using batteries is not practical.
This report provides a comprehensive analysis of the piezoelectric devices market, categorizing it based on product, material, application, element, operation mode, and region. It offers insights into the drivers, restraints, opportunities, and challenges influencing market growth. Additionally, it examines competitive developments, such as product launches, acquisitions, expansion contracts, partnerships, and actions taken by key players to expand their market presence.
Germany, being one of Europe's major manufacturing hubs for automobile companies, contributes significantly to the growth of the piezoelectric devices market. Technological innovations in the automotive sector in Germany drive the adoption of piezoelectric devices. These devices find applications not only in the automotive industry but also in industrial and manufacturing, consumer electronics, and healthcare sectors. Germany's prominent automotive sector leads to higher consumption of piezoelectric actuators, motors, and sensors.
Piezoelectric devices are known for their piezoelectric properties and are widely used in various applications, including industrial equipment, digital cameras, smartphones, smartwatches, notebooks, medical instruments, and surgical tools. They have found adoption in multiple sectors, such as aerospace & defense, healthcare, industrial and manufacturing, and consumer electronics.
One of the major challenges in the market is the development of alternative materials to replace lead zirconate titanate (PZT) ceramic materials while retaining similar properties.
Key players in the piezoelectric devices market include CeramTec GmbH (Germany), CTS Corporation (US), Kistler Group (Switzerland), Physik Instrumente (PI) GmbH & Co. KG (Germany), piezosystem jena GmbH (Germany), and others, who are assessed in terms of market share, growth strategies, services offered, and competitive positioning.
The market for piezoelectric transducers is to hold the second-largest share during the forecast period.
The piezoelectric transducer is expected to have the second largest market size in terms of product during the forecast period. Piezoelectric transducers use the piezoelectric effect to measure changes with respect to acceleration, force, pressure, strain, and temperature.
They produce an electric output voltage by converting these parameters into an electric charge. Piezoelectric ultrasonic transducers transmit and receive ultrasonic waves used in sensing and imaging applications. These devices possess the properties of both sensors and actuators.
The market for the piezoelectric crystal segment is expected to hold a significant share during the forecast period.
Piezoelectric crystals are small-scale energy sources. They change their shapes in small amounts, mostly in nanometers, and generate electricity whenever subjected to vibrations or external mechanical stress. When a mechanical force is applied for ultrasound applications, piezoelectric crystals are automatically deformed and produce a tiny voltage, which is used for producing and detecting ultrasonic sound waves.
The market for the healthcare application segment is to witness the highest growth during the forecast period.
The healthcare sector depends on advanced techniques, including imaging, diagnostic scanning, and robotic surgeries, to provide the best possible care to patients. Medical device manufacturers are aware of the benefits of integrating piezoelectric components and materials into life-saving medical devices such as respirators, ventilators, and atomization systems.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 309 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $32.7 Billion |
| Forecasted Market Value (USD) by 2028 | $46 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
Premium Insights
- High Adoption of Piezoelectric Devices in Aerospace & Defense Industry to Fuel Market During Forecast Period
- Piezoelectric Actuators to Hold Largest Market Share During Forecast Period
- Aerospace & Defense Segment to Account for Largest Market Share by 2028
- Piezoelectric Ceramics to Dominate Piezoelectric Devices Market During Forecast Period
- China to Grow at Highest CAGR During Forecast Period
Case Study Analysis
- German Aerospace Center to Opt for Kistler Group's Advanced Piezoelectric Sensors to Perform Vibration Tests
- Use of Piezo Discs, Plates, and Focus Bowls by Pi Ceramic for High-Intensity Focused Ultrasound (Hifu) Applications
- Onera Leveraged Piezotronic Accelerometers from Pcb Piezotronics for Vibration Measurements
- Use of Piezo Strain Sensors for Ground Vibration Testing of Aircraft
- Spanish Clinic Leveraged Piezoelectric Force Plates from Kistler Group for Diagnostics and Treatment Development
Market Dynamics
Drivers
- High Adoption of Piezoelectric Products in the Aerospace Industry
- Elevated Use of Piezoelectric Energy Harvesters
- Accelerated Demand for Piezoelectric Devices from Automobile Manufacturers
- Increased Investments in Renewable Energy Projects
Restraints
- High Cost Associated with Piezoelectric Materials
- Limitations of Piezoelectric Ceramics
- Stringent Government Policies Restricting Use of Lead-Based Piezoelectric Materials
Opportunities
- Growing Use of Piezoelectric Nanomaterials in Electronic Devices
- Rising Adoption of Piezoelectric Devices and Polymers in Biomedical and Surgical Applications
- Increasing Demand for Polymer-Based Piezoelectric Sensors and Films from Aerospace, Nuclear Instrumentation, and Consumer Electronics Applications
- Surging Deployment of Piezoelectric Sensors and Polymers in Healthcare Devices
Challenges
- Developing Alternative Materials to Pzt Ceramic Materials with Similar Properties
Technology Analysis
- Key Technology
- Mems Technology
- Adjacent Technology
- Pyroelectric Technology
Company Profiles
Key Players
- Ceramtec GmbH
- Cts Corporation
- Kistler Group
- Physik Instrumente (Pi) GmbH & Co. Kg.
- Aerotech Inc.
- Piezosystem Jena GmbH
- Kemet Corporation
- Piezo Technologies
- Apc International, Ltd.
- Mad City Labs, Inc.
Other Key Players
- Te Connectivity Ltd.
- Mide Technology Corp.
- Omega Piezo Technologies, Inc.
- Pcb Piezotronics, Inc.
- Piezomotor
- Piezomechanik Dr. Lutz Pickelmann GmbH
- Dytran Instruments Incorporated
- Piezo Solutions
- Elpa Research Institute
- Hoerbiger Motion Control GmbH
- Central Electronics Limited (Cel)
- Hong Kong Piezo Co. Ltd.
- Trs Technologies
- Sparkler Ceramics
- Piezotech Arkema
- Solvay
For more information about this report visit https://www.researchandmarkets.com/r/m1zpkt
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