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Piezoelectric Devices Market - Forecast(2024 - 2030)
Piezoelectric Devices Market Overview
The Piezoelectric Devices Market is estimated to reach USD36.8billion by 2027, growing at a CAGR of 3.1% during the forecast period 2022-2027. The Piezoelectric Devices are simple structures, consisting of piezoelectric materials such as lead zirconate titanate sandwiched between electrodes. Piezoelectric devices are lightweight and offer high reliability & enhanced efficiency. Piezoelectric devices are widely adopted due to the advancement of wireless technologies and the smooth functioning of a wide range of IIoT applications in industries. The industries are switching to piezoelectric devices to fulfil their goal of using renewable energy sources and lower carbon footprint. They are employed in sensors, transducers and nanogenerators for multiple functions. Material such as Polyvinylidene fluoride is mostly used for nanogenerators and other applications. Piezoelectric devices with a wide range and high precision are also used in various diagnostic equipment in the medical field. This is driving the growth. In August 2022, Flexible Electronics reported the successful fabrication of fabric piezoelectric pressure sensors using polyvinylidene fluoride weft. The wearable pressure sensors had a range of input forces of 0.02 to 694 newton.
Report Coverage
The “Piezoelectric Devices Market Report– Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Piezoelectric Devices Market.
Key Takeaways
- The SONAR systems segment by application in the Piezoelectric Devices Market is expected to grow fastest at a CAGR of 5.2% during the forecast period 2022-2027. Piezoelectric devices are widely used in sonar systems due to their wide range, long lifespan, low acoustic impedance, high coupling factors and low material cost.
- The Healthcare segment by end users in the Piezoelectric Devices Market is expected to grow fastest at a CAGR of 5.8% during the forecast period 2022-2027. The piezo-based devices are widely adopted in the healthcare industry due to their high precision, flexibility and stability over a broader temperature range.
- Asia Pacific is expected to grow the fastest at a CAGR of 5.1% in the Piezoelectric Devices Market during the forecast period 2022-2027. There is increased employment of piezoelectric energy harvesting systems in various industries in this region to promote the use of renewable energies for electricity generation and energy conservation.
- The high adoption of piezoelectric devices in the aerospace industry is driving the market. The sensor enables the integration of multiple functions such as data processing, wireless communication and energy harvesting.
Piezoelectric Devices Market Value Share, By Region, 2021 (%)
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Piezoelectric Devices Market Segment Analysis - by Application
The Piezoelectric Devices Market by application has been segmented into SONAR systems, Acoustic Devices, Gas Stoves and Lighters, Diagnostic Imaging devices, Electronic devices, Surgurical tools and Others. The SONAR systems segment by application in the Piezoelectric Devices Market is expected to grow fastest at a CAGR of 5.2% during the forecast period 2022-2027. Piezoelectric devices are widely used in sonar systems due to their wide range, long lifespan, low acoustic impedance, high coupling factors and low material cost. The piezo-based sonar systems are widely used for navigation, communication or detection of objects in various sectors including tests and measurements, healthcare and industrial equipment. This has resulted in a high growth rate. In July 2022, PI Ceramic one of the Piezoelectric Devices top 10 companies introduced the new Sonar transducer for 360-degree ultrasound applications. The Piezoelectric ultrasonic transducer can transmit and detect soundwaves up to high frequencies in the Megahertz range. It can be used for medical applications, industrial automation and detection systems. This will attribute to the market growth.
Piezoelectric Devices Market Segment Analysis - by End-users
The Piezoelectric Devices Market by end-users has been segmented into Aerospace, Defence, Industrial and Manufacturing, Automotive, Healthcare, IT and Telecommunication, Consumer electronics and Others. The Healthcare segment by end users in the Piezoelectric Devices Market is expected to grow fastest at a CAGR of 5.8% during the forecast period 2022-2027. The piezo-based devices are widely adopted in the healthcare industry due to their high precision, low cost, high coupling coefficient, flexibility and stability over a broader temperature range. In March 2022, Today’s Medical Development in their Piezoelectric Devices market report announced the use of a Piezoelectric transducer for contactless treatment. The Piezoelectric transducer is used for a variety of treatments such as lithotripsy, thrombolysis, tissue ablation, targeted drug delivery and ultrasound cartilage therapy. It enables safer and more precise operations for clinical situations.
Piezoelectric Devices Market Segment Analysis - by Geography
Asia Pacific is expected to grow at the fastest CAGR with 5.1%, during the forecast period 2022-2027. Countries such as China, Japan, and South Korea are the major electronic device producers in which piezoelectric devices are widely adopted. There is increased employment of piezoelectric energy harvesting systems in various industries in this region to promote the use of renewable energies for electricity generation and energy conservation. There is ongoing research in this region to develop more advanced piezo-based devices to meet the long-term goals of using renewable energy sources. This led to a high revenue rate. In October 2021, Nano Energy stated that a new composite film with potential application in energy harvesting generators has been developed in collaborative research done by researchers from DGIST, Korea and IIT, Guwahati, India. The new film made up of bismuth titanate & triboelectric polymer enhances the energy harvesting capabilities to energize low-power electronics by simple motion and can invalidate batteries in certain cases.
Piezoelectric Devices Market Drivers
The adoption of high-performance piezoelectric Sensors in the aerospace industry is leading to market expansion.
The aerospace industry employs anemometers which are a type of piezoelectric wind sensors for use in drones, satellites, balloons and autonomous aircraft. Piezoelectric Sensors are most preferred in the aerospace industry because it enables long-distance coverage, precise monitoring of wind speed & direction, low energy consumption and are lightweight. This led to a high growth rate. In August 2022, Ohio State University announced the successful development of an airfoil anemometer for smart tether systems that stabilize aircraft. Polyvinylidene fluoride due to its wide crystalline range of 35%-70-% is used to make the airfoil which reduces the aerodynamic drag and powers the anemometer from energy generated from wind pressure. The sensor integrates data processing, wireless communication and energy harvesting features.
The increased use of advanced piezoelectric actuators and transducers in space applications is leading to market growth.
Piezoelectric devices such as actuators and transducers are widely used in space applications for their smooth functioning. They are used to measure various quantities such as force and speed. They are lightweight and can replace heavy electromagnetic systems. They are employed owing to their precise monitoring, long lifespan, high compatibility and energy efficiency. This led to the expansion of the market. In July 2021, Azom in their article stated that the CheMin laboratory unit of the Curiosity Mars rover opted to use PICMA piezo actuators. NASA while working on Mars Mission tested various actuators and selected the PICMA piezo actuators owing to their demonstration of 100 billion cycles with no failure or performance loss.
Piezoelectric Devices Market Challenge
The harmful effects of lead on the environment and humans will restrict the market growth.
The lead zirconate titanate (PZT) is used in the widest range of piezoelectric applications such as medical, aerospace and consumer electronics. The toxic nature of lead is of great concern during lead mining and manufacturing, use & disposal of lead-based products. It is observed that the environment and human health is getting badly affected by exposure to lead in huge quantity. The government is setting up guidelines for use of lead-free piezoelectric devices which will restrict the market growth. In October 2021, WHO announced the world lead poising report which stated that lead exposure accounted for 0.90 million deaths and 21.7 million lost to disability and death due to long-term health effects globally. The Health Department receives blood lead test results for more than 300,000 children younger than 6 years of age every year. The main route of absorption in adults is the respiratory tract where 30–70% of inhaled lead goes into the circulatory system leading to severe health conditions and death. This will hinder the growth of the market.
Piezoelectric Devices Industry Outlook
Product launches, collaborations, and R&D activities are key strategies adopted by players in the Piezoelectric Devices Market. Piezoelectric Devices Market's top 10 companies include:
- APC International, Ltd.
- Piezosystem Jena GmbH
- Mad City Labs Inc.
- Ceramtec GmbH
- CTS Corporation
- Physik Instrumente (PI) GmbH & Co. Kg.
- L3HARRIS TECHNOLOGIES, Inc.
- US Eurotek, Inc.
- Kistler Group
- Murata Manufacturing Co., Ltd.
Recent Developments
In August 2022, the Massachusetts Institute of Technology announced the development of new wearable ultra-thin skin-like sensors that monitor health vitals wirelessly without batteries. The Sensor is powered by turboelectric nanogenerators. GaN with its piezoelectric properties is used for sensing health markers as well as wireless communications.
In August 2022, Micromachines announced the development of a multi-sensor-based, compact, cuffless blood pressure (BP) monitoring system that combines a piezoelectric sensor array with an optical sensor to monitor the blood pressure data from the radial artery.
In March 2021, APC international one of the Piezoelectric Devices top 10 companies in their Piezoelectric Devices market report stated APC 840 is the best piezoelectric material for a variety of sonar applications. APC 840 can be purchased in powder form or incorporated into a custom transducer design.
Relevant Reports:
Report Code: AIR 0350
Report Code: CMR 85253
Report Code: AIR 0112
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