Piezoelectric Device Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The piezoelectric devices market was valued at USD 46.1 billion in 2022, with a CAGR of 7.1% during the forecast period. Increasing demand for piezoelectric products in healthcare, automotive, aerospace, and defense industries is driving significant growth in the market. The increasing use of piezoelectric products in aerospace, defense, micro robotics, and bullets is driving significant growth in the market. It has been experiencing significant growth due to its application in various industries, like consumer electronics.

The demand for energy harvesting devices and sensors has been driving growth, with this material being used to convert mechanical energy into electrical energy or vice versa. Advancements in technology and materials have led to improved performance and efficiency of piezoelectric devices, further driving growth in the market and fueling market expansion.

Growth Drivers

On the basis of end-user, the piezoelectric devices market is segmented into healthcare, aerospace and defense, automotive, healthcare and automotive, consumer electronics, and industrial and manufacturing. Automotive is the leading segment, and it is expected to dominate the market during the forecast period. The healthcare sector is also not far behind and is witnessing significant growth in the market. In the automotive sector, piezoelectric devices are used for fuel injection systems, engine management, and vibration sensors.

In healthcare, they are utilized in ultrasound imaging, medical diagnostics, and therapeutic devices. The aerospace and defense sectors have a notable demand for piezoelectric devices for applications such as vibration control, acoustic testing, and structural health monitoring. Consumer electronic devices are also witnessing significant growth due to their being used in speakers, sensors, and actuators. In industry and manufacturing, they find application in precision positioning, flow control, and vibration control systems.

Information and communication also witness significant growth due to the use of these devices in acoustic wave sensors, ultrasonic transducers, and resonators. Resonators, which are integral components in wireless communications, they enable efficient signal processing, sensing, and data transmission, driving innovation and advancements in information and communication technology.

Segmentation

By End-User Segmentation

·         Healthcare

·         Aerospace and Defense

·         Automotive

·         Consumer Electronics

·         Industrial and Manufacturing

·         Information and Communication

·         Others

By Materials

·         Piezoelectric Crystals

·         Piezoelectric Ceramics

·         Piezoelectric Composites

·         Polymers

By Elements

·         Piezoelectric Discs

·         Piezoelectric Rings

·         Piezoelectric Plates

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Regional Outlook

On the basis of the regions, the Piezoelectric devices market is segmented into 5 parts: Asia Pacific, North America, Latin America, Middle East and Africa, and Europe. North America is the leading segment in piezoelectric devices market due to its application, and industry demand. North America has a robust infrastructure for various industrial growth. Common segments include sensors, actuators, and energy harvesting devices. Each of these components play a vital role in automotive, aerospace, defense, and healthcare. Industrial growth in North America is significant.

Asia Pacific is also just second to North America, and experiencing significant growth due to increasing disposable income, increasing industrialization, and urbanization. Countries like India, China, and Japan are witnessing significant growth due to forecast period. Increasing demand for piezoelectric components in various fields is driving growth in the market significantly. European market for piezoelectric devices is significantly growing in countries like Germany, France, Italy, Spain, and England.

This market has witnessed significant demand for the products from aerospace, defense, automotive, and healthcare industry. Increasing industrialization in European countries is the key reason behind the growth in the market significantly. Urbanization, and rising disposable income are the key reasons behind the significant growth in the market. Middle East and Africa and Latin America are the region where the growth in this market is moderate. South Africa, Egypt, Saudi Arabia, United Arab Emirates, and Brazil are the countries experiencing significant growth in the market.

Key Players

·         Piezo System Zena

·         Morgan Advanced Materials

·         CeramTec

·         APC International Ltd

·         Physik Instruments

·         Poliak A/S

·         CTS Corporation

·         Murata

·         PiezoMechanik Dr. Lutz Pickelmann GmbH

·         Other Players