Global Piezoelectric Devices Market Insights Forecasts to 2033

• The Global Piezoelectric Devices Market Size was Valued at USD 30.35 Billion in 2023
• The Market Size is Growing at a CAGR of 7.21% from 2023 to 2033
• The Worldwide Piezoelectric Devices Market Size is Expected to Reach USD 60.87 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Piezoelectric Devices Market Size is Anticipated to Exceed USD 60.87 Billion by 2033, Growing at a CAGR of 7.21% from 2023 to 2033.

Market Overview

Electrical signals can be produced from mechanical vibrations or deformations using piezoelectric devices, and vice versa. The phenomenon can be seen in materials where an applied mechanical force produces an electrical charge or an applied voltage causes mechanical deformation, such as quartz crystals or specialty ceramics. The business of piezoelectric instruments is expanding significantly because of its wide range of applications across several industries. Piezoelectric sensors are utilized in ultrasonography to provide accurate diagnosis in the medical field. They make precise motion control in actuators and robots possible in industrial automation. Piezoelectric devices are also essential for sensor and energy harvesting applications in the automobile and aerospace sectors. Furthermore, industry expansion has been aided by the need for clean and renewable energy sources. With new applications and technological advancements, the piezoelectric instrument business is expected to grow and innovate continuously. The market for piezoelectric devices is expanding due to the rising demand for a variety of consumer products, many of which include piezoelectric materials, such as buzzers, humidifiers, electric toothbrushes, sensors, and flame igniters. Medical practitioners also utilize these gadgets to execute and monitor surgical procedures. These are also utilized in stethoscopes, ultrasonography, pulse monitoring, sleep study monitoring, and other medically related applications. Piezoelectric devices market expansion is being driven by these reasons.

Report Coverage

This research report categorizes the market for the global piezoelectric devices market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global piezoelectric devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global piezoelectric devices market.

Driving Factors

Commercial airplanes, spacecraft, and satellites are frequently manufactured, sold, and serviced by prominent figures in the aerospace sector. To boost the effectiveness, longevity, and performance of airplanes, planes, helicopters, submarines, etc., the industry needs cutting-edge and better solutions. To prevent unwanted vibrations, lower noise levels, reduce fuel consumption, and limit energy loss in aircraft, contemporary aircraft utilize a variety of mechanical structures and parts that are checked using piezoelectric actuators as part of the active vibration dampening approach. The market for piezoelectric instruments is expanding due in large part to the heavy use of piezoelectric components by the aerospace and defense sector. Piezoelectric sensors and actuators have several essential uses in the aircraft industry. Piezoelectric sensors ensure the performance and safety of airplanes by precisely measuring a variety of characteristics, including vibration, temperature, and pressure. To increase maintenance effectiveness and safety, they are also used in structural health monitoring systems to identify any structural defects. Due to their sensitivity to pressure changes, piezoelectric devices are essential in military applications for acoustic and sonar systems, which enable precise underwater threat detection. This makes piezoelectric technology a vital component of these sectors and drives the market for piezoelectric instruments.

Restraining Factors

Two major issues that might hinder the expansion of the piezoelectric device business are the scarcity of trained personnel and the emergence of substitute materials such as potassium sodium bismuth titanate (KSBT). The primary factor that might hinder the market share of piezoelectric devices is the lack of competent workers in the field of piezoelectric technology. Research, development, and production processes might get delayed as a result of the lack of these highly qualified individuals. These novel materials could have better temperature stability or stronger piezoelectric coefficients, among other enhanced performance qualities. The expansion of current industry participants might be impacted if investment shifts away from traditional piezoelectric materials in favor of these alternatives if they become more accessible and affordable. To ensure continuous growth and competitiveness in the market, the piezoelectric sector must make a concentrated effort to address these issues.

Market Segmentation

The global piezoelectric devices market share is classified into product, application, and vertical.

• The ceramics segment is expected to hold the largest share of the global piezoelectric devices market during the forecast period.

Based on the product, the global piezoelectric devices market is divided into ceramics, polymers, composites, and others. Among these, the ceramics segment is expected to hold the largest share of the global piezoelectric devices market during the forecast period. Lead zirconate titanate and lead-free ceramics are the two further categories for ceramics. Lead zirconate titanate is widely used in the production of actuators and transducers, so altering materials can readily alter its performance.

• The actuators segment is expected to hold the largest share of the global piezoelectric devices market during the forecast period.   

Based on the application, the global piezoelectric devices market is divided into actuators, sensors, motors, acoustic devices, generators, and others. Among these, the actuators segment is expected to hold the largest share of the global piezoelectric devices market during the forecast period. Electric actuators are becoming more and more popular as high-power, attractive rotational speed tools, which is predicted to grow the market throughout the projection period. The actuators segment is anticipated to expand due to the growing demand for piezo generators due to their capacity to produce low-frequency sound waves.

• The aerospace and defense segment is expected to hold the largest share of the global piezoelectric devices market during the forecast period.   

Based on the vertical, the global piezoelectric devices market is divided into oil and gas, automotive, aerospace and defense, medical and healthcare, and communication. Among these, the aerospace and defense segment is expected to hold the largest share of the global piezoelectric devices market during the forecast period. In aerospace and defense applications, piezoelectric sensors and actuators are utilized for vibration monitoring, structural health monitoring, and active noise reduction. Microair vehicles and unmanned aerial vehicles are examples of small-scale aerospace and military systems that are powered and controlled using piezoelectric materials. These all have a favorable effect on the growth of the piezoelectric device market.  

Regional Segment Analysis of the Global Piezoelectric Devices Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global piezoelectric devices market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global piezoelectric devices market over the predicted timeframe. Due to growing government initiatives to boost the manufacturing sector in developing nations, growing awareness of the need to adopt energy harvesting systems to protect natural resources and cut down on excess energy consumption, and rising foreign investment in the industrial and manufacturing sectors of emerging economies like China and Japan, Asia Pacific dominated the regional market for piezoelectric devices. The governments of many nations, including South Korea, China, and India, are offering tax breaks and other incentives to encourage the establishment of new electronics manufacturing facilities in the region. 

North America is expected to grow at the fastest pace in the global piezoelectric devices market during the forecast period. North America's market is made up of developing nations in the US and Canada, as well as advanced medical technologies and surgical instruments that are anticipated to propel the market during the forecast period. Piezoelectric devices are becoming more and more popular in the communications and portable electronics technology sectors. The region's industries are expanding throughout different parts of the electro-mechanical sector's industrial operations due to a rising emphasis on energy-efficient solutions, which is expanding the market for piezo-electric components. For example, the Canada Industry Program for Energy Conservation (CIPEC) is a program that focuses primarily on energy conservation and is predicted to promote the piezo-electric device market throughout the area.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global piezoelectric devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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 Coporation
• Ceramtec GmbH
• Mad City Labs Inc.
• Piezo Solutions
• US Eurotek, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2023, under the direction of Professor Keon Jae Lee of the Department of Materials Science and Engineering at KAIST, a research team worked with the College of Medicine at the Catholic University of Korea to successfully develop a wearable blood pressure sensor based on piezoelectric technology that is incredibly sensitive.

• In March 2022, a possible replacement for several piezoelectric materials has been developed by scientists and is known as a gadolinium-doped cerium oxide compound. It might be used in biocompatible medical applications and is devoid of lead.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global piezoelectric devices market based on the below-mentioned segments: 

Global Piezoelectric Devices Market, By Product

• Ceramics
• Polymers
• Composites
• Others

Global Piezoelectric Devices Market, By Application

• Actuators
• Sensors
• Motors
• Acoustic devices
• Generators
• Others

Global Piezoelectric Devices Market, By Vertical

• Oil and Gas
• Automotive
• Aerospace and Defence
• Medical and Healthcare
• Communication

Global Piezoelectric Devices Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa