Piezoelectric Devices Market Outlook – 2027
A piezoelectric device is one of the systems that uses piezoelectric effect to calculate changes in pressure, acceleration, temperature, strain, or force by transforming them to an electric charge. These devices are manufactured from piezoelectric materials and utilized for process control, quality management, and research & development in several industries including aerospace, nuclear instrumentation, and medical. Piezoceramics is the basic material of piezoelectrical devices, which are used in the automotive industry while designing internal combustion engines to control combustion.
The global piezoelectric devices market is segmented on the basis of material, product, industry vertical, and region. Based on material, the piezoelectric devices market is divided into piezoelectric ceramics, crystals, polymers, and composites. In terms of product, the market is categorized into piezoelectric actuators, transducers, sensors, generators, motors, and others. On the basis of industry vertical, the market is divided into manufacturing, healthcare, consumer electronics, communication & technology, automotive, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Top Impacting Factors
Increased use of piezoelectric devices in applications such as cell phones, low power, and portable energy sources in the healthcare sector, structural health monitoring, electronic notebooks, computer disk drives, and robotics is expected create lucrative opportunities for this market. Factors such as emerging applications of piezoelectric energy harvesting devices and investor and government funding is also create growth opportunities for piezoelectric devices market, during the forecast period. However, enormous costs associated with this material such as lead-based ceramics and piezo crystals can impede the global market.
Piezoelectric Polymers to Witness Highest CAGR
Due to various characteristics, such as low manufacturing cost, lightweight, fast processing, and acceptance for biological applications such as bio signal acquisition and support for tissue regeneration/repair is help to boost the market growth. Among piezoelectric polymers, polyvinylidene fluoride (PVDF) and pure thermoplastic fluoropolymers are usually the materials chosen because of their low cost, highly non-reactive properties, super-sensitivity to pressure and compliance with government regulations such as restriction of hazardous substances (RoHS) for materials.
Market For Piezoelectric Generators to Grow at the Highest CAGR
The demand for piezoelectric generators is expected to rise during the forecast period at the highest CAGR amongst the items. Piezoelectric generators are used for the monitoring of blood sugar, medication, and vital signs in various portable medical devices. In the near future the growing demand for such generators in consumer electronic devices is expected to accelerate the growth of the market for piezoelectric devices.
Europe to Hold the Second Largest Share of the Market
Presence of lucrative automotive, healthcare, and industrial & manufacturing facilities in Europe is expected to boost the market growth. In addition, Europe is home to huge players such as Physik Instrumente (PI) GmbH & Co. in the piezoelectric devices market. KG (Karlsruhe, Germany), CeramTec GmbH (Plochingen, Germany), and Jena GmbH piezosystem (Jena). By developing innovative piezoelectric-based products and devices that are used in multiple application areas, these players are considered trendsetters in this industry.
Advancements of the high-speed communication industry, increasing demand for high-precision micro positioning devices, and technological developments in composite materials and piezoelectric polymers are expected to fuel the market growth in the future. Latest developments in the piezoelectric material sector is developments in piezoelectric materials nanotechnology. The aerospace & defense industry is a prominent end user of piezoelectric equipment and materials. The market for materials with advanced functional properties is experiencing a huge market in the defense industry, where piezoelectricity is extensively implemented in micro robotics and bullets that change direction.
Key Benefits of the Report
- This study presents the analytical depiction of the global piezoelectric devices market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global piezoelectric devices market share.
- The current market is quantitatively analyzed to highlight the global piezoelectric devices market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global piezoelectric devices market analysis based on competitive intensity and how the competition will take shape in coming years.
COVID-19 Scenario Analysis
- Global piezoelectric devices market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors.
- Global factories have struggled to integrate new piezoelectric devices as workers have stayed in their homes, which disrupted the global supply chains.
- The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for piezoelectric devices are gradually going to increase.
- This COVID-19 lockdown would help companies think about more advanced piezoelectric devices to enhance efficiency.
Questions Answered in the Piezoelectric Devices Market Research Report
- Which are the leading market players active in the piezoelectric devices market?
- What would be the detailed impact of COVID-19 on the piezoelectric devices market size?
- How current piezoelectric devices market trends would influence the industry in the next few years?
- What are the driving factors, restraints, and opportunities in the piezoelectric devices market?
- What are the projections for the future that would help in taking further strategic steps?
Piezoelectric Devices Market Report Highlights
By Industry Vertical
Key Market Players
CTS CORPORATION, Piezosystem Jena GmbH, CeramTec GmbH, APC International Ltd., Piezo Technologies, L3HARRIS TECHNOLOGIES INC, Aerotech Inc, Physik Instrumente (PI) GmbH And Co. KG., Kistler Group, Mad City Labs Inc