Global Piezoelectric Devices Market Value of $60.87

New York, United States, July 17, 2024 (GLOBE NEWSWIRE) – The global piezoelectric devices market is expected to grow from USD 30.35 billion in 2023 to USD 60.87 billion in 2033, at a compound annual growth rate (CAGR) of 7.21% during the forecast period.

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Piezoelectric devices can generate electrical signals from mechanical vibrations or deformations and vice versa. These phenomena can be observed in materials including crystalline quartz or specialized ceramics, where an applied mechanical force causes an electrical charge or an applied voltage causes a mechanical deformation. Due to their numerous applications in various sectors, piezoelectric instruments are experiencing significant growth in commerce. To provide precise diagnoses in the medical field, ultrasound uses piezoelectric sensors. They enable industrial automation, allowing precise control of motion 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 manufacture, sell and service commercial aircraft, spacecraft and satellites. The aviation sector requires innovative and excellent solutions to increase the efficiency, durability and performance of aircraft, helicopters, submarines, etc. As part of the active vibration control strategy, modern aircraft include a number of mechanical structures and parts that are controlled by piezoelectric actuators to avoid unwanted vibrations, reduce noise levels, minimize fuel consumption and reduce energy waste. However, the shortage of skilled personnel in the field of piezoelectric technology is a major problem that can limit the market share of piezoelectric devices. As the demand for these devices is growing in many regions, engineers, researchers and technicians need to have specialized knowledge in material science and electronics.

Browse key industry information across 200 pages, including 110 tables and graphs of market data from the report “Global Piezoelectric Devices Market Analysis of the size, share and impact of COVID-19 by product (ceramics, polymers, composites and others), by application (actuators, sensors, motors, acoustic devices, generators and others), by vertical (oil & gas, automotive, aerospace & defense, medical & healthcare, communications) and by region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), analysis and forecast for 2023-2033.

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The ceramics segment is expected to hold the largest share in the global piezoelectric devices market during the forecast period.
Based on product, the global piezoelectric device market is segmented into ceramics, polymers, composites, and others. Out of these, the ceramic segment is expected to hold the largest share in the global piezoelectric device market during the forecast period. The other two types of ceramics are lead zirconate titanate and lead-free ceramics. Since lead zirconate titanate is often used for manufacturing actuators and transducers, changing the material can easily change its performance.

The actuator segment is expected to hold the largest share in the global piezoelectric devices market during the forecast period.
Based on application, the global piezoelectric devices market is segmented into actuators, sensors, motors, acoustic devices, generators, and others. Out of these, the actuator segment is expected to hold the largest share in the global piezoelectric devices market during the forecast period. As high-power and aesthetically pleasing tools, electric actuators are gaining popularity, and this trend is expected to drive the market growth during the forecast period. Owing to the increased demand for piezoelectric generators due to their ability to generate low-frequency sound waves, the market is expected to grow.

It is expected that the aerospace and defense segment will have the largest share in the piezoelectric devices market during the estimated period.
Based on vertical, the global piezoelectric devices market is segmented into Oil & Gas, Automotive, Aerospace & Defense, Medical & Healthcare, and Communication. Out of these, the Aerospace & Defense segment is expected to hold the largest 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 to power and control small aerospace and military systems such as unmanned aerial vehicles and micro-aircraft.

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The Asia-Pacific region is expected to hold the largest share in the global piezoelectric devices market during the forecast period..

Asia Pacific is expected to hold the largest share of the global piezoelectric devices market during the forecast period. Asia Pacific dominates the regional piezoelectric devices market due to growing government initiatives to strengthen the manufacturing sector in developing countries, growing awareness of the need to adopt energy harvesting systems to conserve natural resources and reduce excessive energy consumption, and increasing foreign investment in the industrial and manufacturing sectors of emerging economies such as China and Japan.

North America is expected to grow the fastest in the global piezoelectric device market during the forecast period. The North American market consists of developing countries in the US and Canada, as well as cutting-edge surgical equipment and medical technologies that are expected to drive the industry during the forecast period. In the field of portable electronics and communication technology, piezoelectric devices are gaining popularity.

Competition analysis:

The report offers a proper analysis of the key organizations/companies involved in the global market along with comparative evaluation primarily based on their product offerings, business overview, geographical presence, company strategies, segment market share, and SWOT analysis. The report also provides a detailed analysis focusing on the current news and events of the companies including product developments, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This helps in assessing the overall competition in the market. The 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. and others.

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Last changes

• In April 2023 The research team collaborated with the Catholic University of Korea School of Medicine under the leadership of Professor Keon Jae Lee from the Department of Materials Science and Engineering at KAIST to successfully develop a portable blood pressure sensor based on highly sensitive piezoelectric technology.

Segment of the market
This study projects revenues at the global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global piezoelectric devices market based on the following segments:

Global Piezoelectric Devices Market by Product

• Ceramics
• Polymers
• Composites
• Others

Global Piezoelectric Devices Market by Application

• Actuators
• Sensors
• Motorization
• Acoustic devices
• Generators
• Others

Global Piezoelectric Devices Market by Vertical

• Oil and gas
• Automotive
• Aviation and Defense
• Medicine and healthcare
• Communication

Global Piezoelectric Devices Market, Regional Analysis

• North America
• Europe
  • Germany
  • Great Britain
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia and Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • runny nose
  • South Africa
  • Rest of Middle East and Africa

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