Overview and Scope
Piezoelectric devices are the devices that utilize the piezoelectric effect to measure pressure, acceleration, temperature, shear stress, or force by converting this into an electric charge. These devices are developed by using piezoceramics materials and employed for process management, quality control, and R&D in various industrial sectors.
Sizing and Forecast
The piezoelectric devices market size has grown steadily in recent years. It will grow from <b>$26.09 billion in 2023 to $27.02 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. </b> The growth in the historic period can be attributed to growth in medical imaging and ultrasound, expansion of the electronics and automotive industries, development of piezoelectric materials, demand for precise motion control, expansion in the aerospace and defense sectors.
The piezoelectric devices market size is expected to see steady growth in the next few years. It will grow to <b>$31.06 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. </b> The growth in the forecast period can be attributed to adoption of piezoelectric energy harvesting, growth in haptic feedback and touchscreens, expansion in industrial automation and robotics, customized piezoelectric solutions for various applications, demand for energy-efficient sensors.. Major trends in the forecast period include adoption of piezoelectric energy harvesting, growth in haptic feedback and touchscreens, expansion in industrial automation and robotics, customized piezoelectric solutions for various applications, demand for energy-efficient sensors.
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Segmentation & Regional Insights
The piezoelectric devices market covered in this report is segmented –
1) By Material: Ceramics, Crystals, Polymers, Composites
2) By Product: Piezoelectric Sensors, Piezoelectric Actutators, Piezoelectric Transducers, Piezoelectric Motors, Piezoelectric Generators
3) By Application: Industrial and Manufacturing, Defense and Aerospace, Automotive, Healthcare, Information and Communication, Consumer Electronics
4) By Element: Piezoelectric Discs, Piezoelectric Rings, Piezoelectric Plates
<b>Asia-Pacific</b> was the largest region in the piezoelectric devices market in 2023. The regions covered in the piezoelectric devices market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing demand for wearable devices is anticipated to propel the growth of the piezoelectric devices market going forward. Wearable devices refer to electronic devices or technology that are used on the body, typically as accessories or clothing, and designed to provide various functions and features to monitor health and fitness, provide information, and offer entertainment to consumers. Piezoelectric devices, such as piezoelectric sensors, are used in wearables to detect and monitor various physical parameters and to monitor biometric data. For instance, in December 2021, according to Deloitte Touche Tohmatsu Limited, a UK-based consulting company, there were 320 million consumer health and wellness wearable devices in 2022, and it is estimated that this will increase to nearly 440 million by 2024. Therefore, the increasing demand for wearable devices is driving the growth of the piezoelectric devices market.
Key Industry Players
Major companies operating in the piezoelectric devices market include <b> Aerotech Inc., APC International Ltd., CeramTec GmbH, CTS Corporation, Kistler Instruments India Pvt. Ltd., L3harris Technologies Inc., Mad City Labs Inc., Morgan Advanced Materials plc, Physik Instrumente (PI) GmbH & Co. KG, Piezomechanik Dr. Lutz Pickelmann GmbH, Piezosystem jena GmbH, PCB Piezotronics Inc., Exelis Inc., Metrix Instrument Co., Honeywell International Inc., Meggitt SA, Bruel and Kjaer UK Ltd., TE Connectivity Ltd., Kyowa Electronic Instruments Co. Ltd., US Eurotek Inc., Noliac A/S, Piezo Technologies India Pvt. Ltd., Dytran Instruments Inc., ELPA TV & Bredbandsteknik AB, Kinetic Ceramics LLC, Johnson Matthey Piezo Products GmbH, Physik Instrumente GmbH & Co. KG, HongKong Piezo Company Limited, TRS Technologies India Pvt. Ltd., Sparkler Ceramics Ltd., Solvay SA, Usound GmbH, Centre for Process Innovation Limited, Sensor Technology Ltd., Actuated Medical Inc., Aito BV, Vesper Technologies Inc., Sensonics Ltd., Harri Krishna Exports Pvt. Ltd., Murata Manufacturing Co. Ltd. </b>
The piezoelectric devices market report table of contents includes:
1. Executive Summary
2. Piezoelectric Devices Market Characteristics
3. Piezoelectric Devices Market Trends And Strategies
4. Piezoelectric Devices Market – Macro Economic Scenario
5. Global Piezoelectric Devices Market Size and Growth
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26. South America Piezoelectric Devices Market
27. Brazil Piezoelectric Devices Market
28. Middle East Piezoelectric Devices Market
29. Africa Piezoelectric Devices Market
30. Piezoelectric Devices Market Competitive Landscape And Company Profiles
Top Major Players:
- Aerotech Inc
- APC International Ltd
- CeramTec GmbH
- CTS Corporation
- Kistler Instruments India Pvt. Ltd.
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