DUBLIN, June 30, 2023 /PRNewswire/ — The “Piezoelectric Devices Market by Product (Sensors, Actuator, Motor, Generator, Transducer, Transformers, Resonator), Material (Polymer, Crystal, Ceramic, Composites), Element (Discs, Rings, Plates), Application and Region – Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The piezoelectric devices market is valued at USD 32.7 billion in 2023 and is projected to reach USD 46.0 billion by 2028, growing at a CAGR of 7.0% from 2023 to 2028.
The market for piezoelectric transducers is to hold the second-largest share during the forecast period.
The piezoelectric transducer is expected to have the second largest market size in terms of product during the forecast period. Piezoelectric transducers use the piezoelectric effect to measure changes with respect to acceleration, force, pressure, strain, and temperature.
They produce an electric output voltage by converting these parameters into an electric charge. Piezoelectric ultrasonic transducers transmit and receive ultrasonic waves used in sensing and imaging applications. These devices possess the properties of both sensors and actuators.
The market for the piezoelectric crystal segment is expected to hold a significant share during the forecast period.
Piezoelectric crystals are small-scale energy sources. They change their shapes in small amounts, mostly in nanometers, and generate electricity whenever subjected to vibrations or external mechanical stress.
When a mechanical force is applied for ultrasound applications, piezoelectric crystals are automatically deformed and produce a tiny voltage, which is used for producing and detecting ultrasonic sound waves.
The market for the healthcare application segment is to witness the highest growth during the forecast period.
The healthcare application is expected to record the highest CAGR in the piezoelectric devices market during the forecast period. The healthcare sector depends on advanced techniques, including imaging, diagnostic scanning, and robotic surgeries, to provide the best possible care to patients.
Medical device manufacturers are aware of the benefits of integrating piezoelectric components and materials into life-saving medical devices such as respirators, ventilators, and atomization systems.
Germany is expected to have the largest market size in Europe during the forecast period.
Germany is one of the largest manufacturing hubs for automobile companies in Europe. Technological innovations in the automotive sector of the country contribute to the growth of the piezoelectric devices market in Germany.
Along with the automotive industry, piezoelectric devices are also likely to be adopted in industrial and manufacturing, consumer electronics, and healthcare applications. As Germany has the largest automotive sector, it witnesses a higher consumption of piezoelectric actuators, motors, and sensors.
Premium Insights
- High Adoption of Piezoelectric Devices in Aerospace & Defense Industry to Fuel Market During Forecast Period
- Piezoelectric Actuators to Hold Largest Market Share During Forecast Period
- Aerospace & Defense Segment to Account for Largest Market Share by 2028
- Piezoelectric Ceramics to Dominate Piezoelectric Devices Market During Forecast Period
- China to Grow at Highest CAGR During Forecast Period
Market Dynamics
Drivers
- High Adoption of Piezoelectric Products in the Aerospace Industry
- Elevated Use of Piezoelectric Energy Harvesters
- Accelerated Demand for Piezoelectric Devices from Automobile Manufacturers
- Increased Investments in Renewable Energy Projects
Restraints
- High Cost Associated with Piezoelectric Materials
- Limitations of Piezoelectric Ceramics
- Stringent Government Policies Restricting Use of Lead-Based Piezoelectric Materials
Opportunities
- Growing Use of Piezoelectric Nanomaterials in Electronic Devices
- Rising Adoption of Piezoelectric Devices and Polymers in Biomedical and Surgical Applications
- Increasing Demand for Polymer-Based Piezoelectric Sensors and Films from Aerospace, Nuclear Instrumentation, and Consumer Electronics Applications
- Surging Deployment of Piezoelectric Sensors and Polymers in Healthcare Devices
Challenges
- Developing Alternative Materials to Pzt Ceramic Materials with Similar Properties
Companies Mentioned
- Aerotech Inc.
- APC International, Ltd.
- Central Electronics Limited (Cel)
- Ceramtec GmbH
- CTS Corporation
- Dytran Instruments Incorporated
- Elpa Research Institute
- Hoerbiger Motion Control GmbH
- Hong Kong Piezo Co. Ltd.
- Kemet Corporation
- Kistler Group
- Mad City Labs, Inc.
- Mide Technology Corp.
- Omega Piezo Technologies, Inc.
- PCB Piezotronics, Inc.
- Physik Instrumente (Pi) GmbH & Co. Kg.
- Piezo Solutions
- Piezo Technologies
- Piezomechanik Dr. Lutz Pickelmann GmbH
- Piezomotor
- Piezosystem Jena GmbH
- Piezotech Arkema
- Solvay
- Sparkler Ceramics
- TE Connectivity Ltd.
- TRS Technologies
For more information about this report visit https://www.researchandmarkets.com/r/8fvvq8
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