Piezoelectric Devices Market

Increase adoption of various piezoelectric device-based products to boost market growth

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.

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 Global Piezoelectric Devices Market Industry is projected to experience substantial growth in the coming years. The market is expected to reach 38.0 USD Billion in 2024 and is anticipated to double to 80.0 USD Billion by 2035. This growth trajectory indicates a compound annual growth rate of 7.0% from 2025 to 2035. Such projections reflect the increasing adoption of piezoelectric devices across various sectors, including consumer electronics, healthcare, and industrial automation. The anticipated growth underscores the potential for innovation and expansion within the piezoelectric market, driven by technological advancements and evolving consumer demands.

The Global Piezoelectric Devices Market Industry is experiencing rapid technological advancements, particularly in materials and manufacturing processes. Innovations in piezoelectric materials, such as the development of lead-free ceramics, are enhancing device performance and expanding application areas. For instance, advancements in micro-electromechanical systems (MEMS) are enabling the integration of piezoelectric devices into compact electronic systems. This trend is likely to drive market growth, as the industry is projected to reach 38.0 USD Billion in 2024, with a compound annual growth rate of 7.0% anticipated from 2025 to 2035. Such developments suggest a robust future for piezoelectric applications across various sectors.

The Global Piezoelectric Devices Market Industry is experiencing growth due to the expansion of industrial automation. Piezoelectric devices are integral to various automation processes, including robotics and precision control systems. Their ability to provide accurate motion control and feedback is enhancing productivity and efficiency in manufacturing environments. As industries increasingly adopt automation technologies, the demand for piezoelectric devices is expected to rise. This trend aligns with the overall market growth trajectory, which is projected to reach 38.0 USD Billion in 2024. The integration of piezoelectric solutions in industrial applications suggests a promising future for the market.

The Global Piezoelectric Devices Market Industry is increasingly finding applications in the healthcare sector, particularly in medical imaging and diagnostics. Piezoelectric materials are utilized in ultrasound devices, enabling high-resolution imaging and non-invasive diagnostics. The demand for advanced medical technologies is driving the adoption of piezoelectric devices, as they offer precision and reliability. Moreover, the ongoing development of portable and wearable medical devices is likely to further enhance market growth. As healthcare technology evolves, the piezoelectric segment is poised for expansion, contributing to the overall market growth forecasted to reach 80.0 USD Billion by 2035.

The Global Piezoelectric Devices Market Industry is witnessing a surge in demand from the consumer electronics sector. Devices such as smartphones, tablets, and wearables increasingly incorporate piezoelectric sensors and actuators for enhanced functionality. The integration of these devices improves user experience through features like touch sensitivity and haptic feedback. As the consumer electronics market continues to expand, the piezoelectric segment is expected to benefit significantly. This growth is reflected in the projected market value of 80.0 USD Billion by 2035, indicating a strong correlation between consumer electronics trends and piezoelectric device adoption.

The Global Piezoelectric Devices Market Industry is benefiting from the rising demand for energy harvesting solutions. Piezoelectric materials can convert mechanical energy from vibrations and movements into electrical energy, making them ideal for powering small devices in remote locations. This capability is particularly appealing in sectors such as automotive and industrial applications, where energy efficiency is paramount. The increasing focus on sustainable energy solutions is likely to propel the adoption of piezoelectric devices. As the market evolves, the potential for energy harvesting applications may significantly contribute to the projected market growth, with a CAGR of 7.0% anticipated from 2025 to 2035.

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.