Piezoelectric Devices Market Size was valued at USD 31 Billion in 2022. The Piezoelectric Devices market industry is projected to grow from USD 45 Billion in 2023 to USD 76 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.00% during the forecast period (2024 - 2032). The key factors that are driving the growth of the Market include several things like rising demand for piezoelectric devices for faster energy harvesting, modern aerospace & defense applications, and largely growing R&D investments by major companies & modern research universities for innovative piezo solutions are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Piezoelectric devices are increasingly being used in a wide range of applications, including sensors, actuators, energy harvesters, and transducers, among others. The market for piezoelectric devices is driven by the growing demand for these devices in various end-use industries, including automotive, aerospace, healthcare, and consumer electronics.
The growing demand for portable and wearable devices is also driving the adoption of piezoelectric devices, as these devices require low-power and miniature components. Piezoelectric energy harvesters, which can generate electricity from ambient vibrations and motions, are becoming increasingly popular in applications such as wireless sensor networks and smart wearables. Moreover, the increasing focus on energy efficiency and sustainability is also driving the growth of the piezoelectric devices market, as these devices can generate electricity from ambient vibrations and movements, eliminating the need for batteries or other power sources. Overall, the increasing adoption of various piezoelectric device-based products is expected to boost the demand for piezoelectric devices and drive the growth of the market in the coming years. Therefore, such factors related to Piezoelectric Devices have enhanced the Piezoelectric Devices market CAGR across the globe in recent years.
The Piezoelectric Devices Market segmentation, based on application, includes Sensors, Transducers, Energy harvesting, Motors, and High voltage actuators. The sensors segment held the majority share in 2022 of the Piezoelectric Devices Market revenue. Piezoelectric sensors are widely used in many industries, such as automotive, aerospace, medical, and consumer electronics. Piezoelectric sensors can detect and measure various physical parameters, such as pressure, acceleration, force, and vibration, with high accuracy and sensitivity. They are also lightweight, compact, and low-cost compared to other types of sensors, making them ideal for a wide range of applications.
Based on vertical, the Piezoelectric Devices Market segmentation includes Oil and Gas, Automotive, Aerospace and Defence, Medical and Healthcare, and Communication. The Aerospace and Defence segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. Piezoelectric sensors and actuators are used in aerospace and defense applications for vibration monitoring, structural health monitoring, and active noise control. Piezoelectric materials are also used to power and control small-scale aerospace and defense systems, such as micro air vehicles and unmanned aerial vehicles. These all factors for Piezoelectric Devices positively impact the market growth.
Figure 2: Piezoelectric Devices Market, by Application, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region has been experiencing significant economic growth in recent years, with countries like China, Japan, and South Korea investing heavily in the research and development of advanced technologies. This has led to the emergence of a large number of piezoelectric device manufacturers in the region, who are offering cost-effective and high-quality products to customers. The region has a large population, and the increasing disposable income of consumers is also driving the demand for piezoelectric devices, particularly in consumer electronics.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure 3: Piezoelectric Devices Market SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's piezoelectric devices market is an established market with a long history of research and development of piezoelectric materials and devices. It is driven by the growing demand for piezoelectric devices in various industries, such as automotive, aerospace, medical, and industrial. The region is home to many prominent companies that are engaged in the manufacturing and development of piezoelectric devices, and many of these companies have a long-standing presence in the market. The established infrastructure and skilled workforce in the region enable the production of high-quality piezoelectric devices that meet the stringent requirements of various industries. Further, the Germany Piezoelectric Devices market held the largest market share, and the UK Piezoelectric Devices market was the fastest-growing market in the European region.
Piezoelectric devices have a wide range of applications in North America, including automotive, aerospace, defense, medical, and consumer electronics. The region has a well-developed research infrastructure and is home to many prominent companies that are investing in the development of new piezoelectric materials and devices. In recent years, there has been a growing demand for piezoelectric devices in North America, driven by the increasing demand for sensors, actuators, and transducers in various industries. The medical industry, in particular, has been a major driver of the market, as piezoelectric devices are widely used in medical imaging and therapeutic applications. Moreover, the U.S. Piezoelectric Devices market held the largest market share, and the Canada Piezoelectric Devices market was the fastest-growing market in the North American region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Piezoelectric Devices market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Piezoelectric Devices industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Piezoelectric Devices. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Piezoelectric Devices industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Piezoelectric Devices industry to benefit customers and expand the market sector. Major Piezoelectric Devices market players, including Piezosystem Jena, APC International, Ltd., Morgan Advanced Materials, Mad City Labs, Inc., Noliac A/S, CTS Corporation, Piezo Systems, Inc., Piezomechanik Dr. Lutz Pickelmann GmbH, and Physik Instrument, and others, are attempting to increase market demand by funding R&D initiatives.
Piezosystem Jena is a leading manufacturer and supplier of high-precision piezoelectric positioning systems, nanopositioners, and related control electronics. Piezosystem Jena's product range includes various types of piezoelectric actuators, nanopositioners, and motion control systems that are used in a wide range of applications, such as semiconductor manufacturing, microscopy, biotechnology, aerospace, and defense. The company also offers customized solutions to meet the specific needs of its customers.
Morgan Advanced Materials is a global engineering company that provides innovative solutions to various industries, including aerospace, healthcare, energy, electronics, and transportation. Morgan Advanced Materials operates through three business segments: Thermal Products and Solutions, Carbon and Technical Ceramics, and Electrical Carbon. The Thermal Products and Solutions segment provides insulation and refractory solutions for high-temperature applications. The Carbon and Technical Ceramics segment manufactures and supplies a range of products, including seals and bearings, armor, and cutting tools. The Electrical Carbon segment supplies carbon brushes, collectors, and other carbon products for use in power generation, metal processing, and transportation applications.
APC International, Ltd.
Morgan Advanced Materials
Mad City Labs, Inc.
Noliac A/S
CTS Corporation
Piezo Systems, Inc.
Piezomechanik Dr. Lutz Pickelmann GmbH
Physik Instrument among others
June 2022: CTS Corporation announced that it has completed the previously announced acquisition of Ferroperm Piezoceramics from Meggitt PLC.
Sensors
Transducers
Energy harvesting
Motors
High voltage actuators
Oil and Gas
Automotive
Aerospace and Defence
Medical and Healthcare
Communication
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 31 Billion |
| Market Size 2023 | USD 45 Billion |
| Market Size 2032 | USD 76 Billion |
| Compound Annual Growth Rate (CAGR) | 7.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Piezosystem Jena, APC International, Ltd., Morgan Advanced Materials, Mad City Labs, Inc., Noliac A/S, CTS Corporation, Piezo Systems, Inc., Piezomechanik Dr. Lutz Pickelmann GmbH, and Physik Instrument |
| Key Market Opportunities | Advancement in technology |
| Key Market Dynamics | Increase adoption of various piezoelectric device-based products |
Frequently Asked Questions (FAQ) :
The Piezoelectric Devices Market size was valued at USD 31 Billion in 2022.
The global market is projected to grow at a CAGR of 7.00% during the forecast period, 2024-2032.
Asia Pacific had the largest share in the Piezoelectric Devices Market.
The key players in the market are Piezosystem Jena, APC International, Ltd., Morgan Advanced Materials, Mad City Labs, Inc., Noliac A/S, CTS Corporation, Piezo Systems, Inc., Piezomechanik Dr. Lutz Pickelmann GmbH, and Physik Instrument.
The sensors category dominated the market in 2022.
The aerospace and defense had the largest share in the global market for Piezoelectric Devices.
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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