Abstract
Summary
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. Devloping alternative materials to PZT ceramic materials having similar properties is one of the major challenge in the market.
“Market for piezoelectric transducers to hold second-largest share during the forecast period.”
Piezoelectric transducer is expected to have 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.
“Market for piezoelectric crystal segment is expected to hold the 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.
“Market for healthcare application segment to witness 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 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.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the piezoelectric devices space. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 40%, Tier 2 – 40%, and Tier 3 – 20%
• By Designation: C-level Executives – 40%, Directors –40%, and Others – 20%
• By Region: North America –40%, Asia Pacific– 30%, Europe – 20%, and RoW – 10%
The report profiles key players in the piezoelectric devices market with their respective market ranking analysis. Prominent players profiled in this report are include CeramTec GmbH (Germany); CTS Corporation (US); Kistler Group (Switzerland); Physik Instrumente (PI) GmbH & Co. KG. (Germany); piezosystem jena GmbH (Germany); Piezo Technologies (US); Aerotech Inc. (US); APC International, Ltd., (US); Mad City Labs, Inc. (US). Apart from these, Kinetic Ceramics (US), Johnson Matthey Piezo Products GmbH (Germany), PI Ceramic (Germany), Piezo Solutions (US), DYTRAN INSTRUMENTS INCORPORATED (US), Piezomechanik Dr. Lutz Pickelmann GmbH (Germany), PiezoMotor (Sweden), PCB Piezotronics, Inc. (US) are among a few emerging companies in the piezoelectric devices market.
Report Coverage
The report defines, describes, and forecasts the piezoelectric devices market based on product, material, application, element, operation mode and region. It provide detailed information regarding drivers, restraint, opportunities, and challenges influencing the growth of piezoelectric devices market. It also analyzes competitive devlopements such as product launches, acquisition, expansion contract, partnership and action carries out by the key players to grow the market.
Reasons to Buy This Report
The report will help the market leaders/new entrants in the market with information on the closest approximations of the revenue for the overall piezoelectric devices market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insight to position their business better and plan suitable go-to-market startergies. The report also helps stakeholders understand the pulse of the market and provide them information on key drivers, restraint, opportunities, and challenge.
The report will provide insights to following pointers:
• Analysis of key drivers ( High adoprtion of piezoelectric devices in aerospace & defense industry), restraints (High costs associated with piezoelectric materials), opportunities (growing use of piezoelectric nanomaterials in electronic devices) and challenges ( Devloping alternative materials to PZT ceramic materials having simaliar properties) of the piezoelectric devices market.
• Product development /Innovation: Detailed insights on upcoming technologises, research & development activities, and new product & service launches in the piezoelectric devices market.
• Market Development: Comprehesive information about lucrative markets, the report analyses the piezoelectric devices market across various regions.
• Market Diversification: Exhaustive information about new product & services, untapping gegraphies, recent devlopements, and investments in the piezoelectric devices market.
• Competitive Assesemnet: In depth assessment of market share, growth strategies, and services, offering of leading players like CeramTec GmbH (Germany); CTS Corporation (US); Kistler Group (Switzerland); Physik Instrumente (PI) GmbH & Co. KG. (Germany); piezosystem jena GmbH (Germany) among others in piezoelectric devices market.
Table of Contents
1 INTRODUCTION 38
1.1 STUDY OBJECTIVES 38
1.2 MARKET DEFINITION 38
1.2.1 INCLUSIONS AND EXCLUSIONS 39
1.3 STUDY SCOPE 40
1.3.1 MARKETS COVERED 40
1.3.2 REGIONAL SCOPE 40
1.3.3 YEARS CONSIDERED 41
1.4 CURRENCY CONSIDERED 41
1.5 STAKEHOLDERS 41
1.6 UNIT CONSIDERED 42
1.7 RECESSION IMPACT 42
1.8 SUMMARY OF CHANGES 42
2 RESEARCH METHODOLOGY 43
2.1 RESEARCH DATA 43
2.1.1 SECONDARY DATA 44
- 2.1.1.1 List of key secondary sources 45
- 2.1.1.2 Key data from secondary sources 46
2.1.2 PRIMARY DATA 46
- 2.1.2.1 Interviews with experts 47
- 2.1.2.2 Breakdown of primary interviews 47
2.1.3 SECONDARY AND PRIMARY RESEARCH 48
- 2.1.3.1 Key industry insights 49
2.2 MARKET SIZE ESTIMATION 49
2.2.1 BOTTOM-UP APPROACH 49
- 2.2.1.1 Approach to arrive at market size using bottom-up analysis 49
2.2.2 TOP-DOWN APPROACH 51
- 2.2.2.1 Approach to obtain market share using top-down analysis (supply side) 51
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 52
2.4 RESEARCH ASSUMPTIONS AND LIMITATIONS 53
2.4.1 RESEARCH ASSUMPTIONS 53
2.4.2 RESEARCH LIMITATIONS 53
2.5 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON PIEZOELECTRIC DEVICES MARKET 54
3 EXECUTIVE SUMMARY 55
3.1 PIEZOELECTRIC DEVICES MARKET: RECESSION IMPACT 56
4 PREMIUM INSIGHTS 61
4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN PIEZOELECTRIC DEVICES MARKET 61
4.2 PIEZOELECTRIC DEVICES MARKET, BY PRODUCT 62
4.3 PIEZOELECTRIC DEVICES MARKET, BY APPLICATION 62
4.4 PIEZOELECTRIC DEVICES MARKET, BY COUNTRY 63
5 MARKET OVERVIEW 64
5.1 INTRODUCTION 64
5.2 MARKET DYNAMICS 64
5.2.1 DRIVERS 65
- 5.2.1.1 High adoption of piezoelectric products in aerospace industry 65
- 5.2.1.2 Elevated use of piezoelectric energy harvesters 66
- 5.2.1.3 Accelerated demand for piezoelectric devices from automobile manufacturers 67
- 5.2.1.4 Increased investments in renewable energy projects 67
5.2.2 RESTRAINTS 69
- 5.2.2.1 High cost associated with piezoelectric materials 69
- 5.2.2.2 Limitations of piezoelectric ceramics 69
- 5.2.2.3 Stringent government policies restricting use of lead-based piezoelectric materials 70
5.2.3 OPPORTUNITIES 71
- 5.2.3.1 Growing use of piezoelectric nanomaterials in electronic devices 71
- 5.2.3.2 Rising adoption of piezoelectric devices and polymers in biomedical and surgical applications 71
- 5.2.3.3 Increasing demand for polymer-based piezoelectric sensors and films from aerospace, nuclear instrumentation, and consumer electronics applications 72
- 5.2.3.4 Surging deployment of piezoelectric sensors and polymers in healthcare devices 73
5.2.4 CHALLENGES 74
- 5.2.4.1 Developing alternative materials to PZT ceramic materials with similar properties 74
5.3 SUPPLY CHAIN ANALYSIS 75
5.4 TRENDS/DISRUPTIONS IMPACTING BUSINESSES OF MARKET PLAYERS AND RAW MATERIAL SUPPLIERS 76
5.4.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR MARKET PLAYERS 76
5.5 ECOSYSTEM ANALYSIS 77
5.6 PORTER’S FIVE FORCES ANALYSIS 79
5.6.1 THREAT OF NEW ENTRANTS 81
5.6.2 THREAT OF SUBSTITUTES 81
5.6.3 BARGAINING POWER OF SUPPLIERS 81
5.6.4 BARGAINING POWER OF BUYERS 81
5.6.5 INTENSITY OF COMPETITIVE RIVALRY 82
5.7 KEY STAKEHOLDERS AND BUYING CRITERIA 82
5.7.1 BUYING CRITERIA 83
5.8 CASE STUDY ANALYSIS 84
5.8.1 GERMAN AEROSPACE CENTER TO OPT FOR KISTLER GROUP’S ADVANCED PIEZOELECTRIC SENSORS TO PERFORM VIBRATION TESTS 84
5.8.2 USE OF PIEZO DISCS, PLATES, AND FOCUS BOWLS BY PI CERAMIC FOR HIGH-INTENSITY FOCUSED ULTRASOUND (HIFU) APPLICATIONS 84
5.8.3 ONERA LEVERAGED PIEZOTRONIC ACCELEROMETERS FROM PCB PIEZOTRONICS FOR VIBRATION MEASUREMENTS 85
5.8.4 USE OF PIEZO STRAIN SENSORS FOR GROUND VIBRATION TESTING OF AIRCRAFT 85
5.8.5 SPANISH CLINIC LEVERAGED PIEZOELECTRIC FORCE PLATES FROM KISTLER GROUP FOR DIAGNOSTICS AND TREATMENT DEVELOPMENT 86
5.9 TECHNOLOGY ANALYSIS 86
5.9.1 KEY TECHNOLOGY 86
- 5.9.1.1 MEMS technology 86
5.9.2 ADJACENT TECHNOLOGY 87
- 5.9.2.1 Pyroelectric technology 87
5.10 TRADE ANALYSIS 87
5.10.1 IMPORT SCENARIO 87
- 5.10.1.1 Import scenario for piezoelectric devices 88
5.10.2 EXPORT SCENARIO 88
- 5.10.2.1 Export scenario for piezoelectric devices 89
5.10.3 TARIFF ANALYSIS 89
5.11 PATENT ANALYSIS 90
5.12 REGULATORY LANDSCAPE 94
5.13 REGULATORY STANDARDS 95
5.13.1 REGULATORY COMPLIANCE 95
- 5.13.1.1 Regulations 95
- 5.13.1.2 Standards 96
5.14 KEY CONFERENCES AND EVENTS, 2023-2024 99
5.15 PRICING ANALYSIS 100
5.15.1 AVERAGE SELLING PRICE OF PRODUCTS OFFERED BY MARKET PLAYERS 101
6 PIEZOELECTRIC DEVICES MARKET, BY PRODUCT 103
6.1 INTRODUCTION 104
6.2 PIEZOELECTRIC SENSORS 108
6.2.1 SUITABLE FOR PORTABLE CONSUMER DEVICES AND WEARABLES 108
6.3 PIEZOELECTRIC ACTUATORS 115
6.3.1 CRUCIAL FOR AEROSPACE & DEFENSE AND HEALTHCARE APPLICATIONS 115
6.3.2 STACK ACTUATORS 117
- 6.3.2.1 Have high load-bearing capability 117
6.3.3 STRIPE ACTUATORS 118
- 6.3.3.1 Can produce large mechanical deflection in response to electrical signals 118
6.3.4 SHEAR ACTUATORS 119
- 6.3.4.1 Feature high-speed response, high-resonant frequency, and high-positioning force 119
6.3.5 TUBE ACTUATORS 119
- 6.3.5.1 Used in high precision instruments 119
6.4 PIEZOELECTRIC MOTORS 126
6.4.1 MORE EFFICIENT AND ECONOMICAL THAN CONVENTIONAL DC MOTORS 126
6.5 PIEZOELECTRIC GENERATORS 134
6.5.1 TO REGISTER FASTEST GROWTH DURING FORECAST PERIOD 134
6.5.2 SINGLE-LAYER PIEZOELECTRIC GENERATORS 134
- 6.5.2.1 Find applications in cigarette lighter push buttons and gas-fired BBQ grill igniters 134
6.5.3 MULTILAYER PIEZOELECTRIC GENERATORS 135
- 6.5.3.1 Excellent for solid-state batteries in electronic circuits 135
6.6 PIEZOELECTRIC TRANSDUCERS 142
6.6.1 OFFER COMBINED PROPERTIES OF SENSORS AND ACTUATORS 142
6.7 OTHER PRODUCTS 149
7 PIEZOELECTRIC DEVICES MARKET, BY MATERIAL 157
7.1 INTRODUCTION 158
7.2 PIEZOELECTRIC POLYMERS VS. PIEZOELECTRIC CERAMICS 161
7.3 PIEZOELECTRIC CRYSTALS 161
7.3.1 ACT AS TINY BATTERIES AND DETECT HIGH-FREQUENCY ULTRASOUND WAVES 161
7.4 PIEZOELECTRIC CERAMICS 162
7.4.1 TO DOMINATE PIEZOELECTRIC DEVICES MARKET DURING FORECAST PERIOD 162
7.4.2 SOFT CERAMICS 163
- 7.4.2.1 Designed for accelerometers, level sensors, flow sensors, pressure sensors, hydrophones, microphones, and gyroscopes 163
7.4.3 HARD CERAMICS 163
- 7.4.3.1 Suitable for high-power generators and transducers 163
7.5 PIEZOELECTRIC POLYMERS 164
7.5.1 TO GROW AT HIGHEST RATE DURING FORECAST PERIOD 164
7.6 PIEZOELECTRIC COMPOSITES 164
7.6.1 USED EXTENSIVELY AS FILLERS 164
8 PIEZOELECTRIC DEVICES MARKET, BY APPLICATION 166
8.1 INTRODUCTION 167
8.2 AEROSPACE & DEFENSE 170
8.2.1 TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 170
8.3 INDUSTRIAL & MANUFACTURING 175
8.3.1 TO CAPTURE SIZABLE SHARE OF PIEZOELECTRIC DEVICES MARKET 175
8.4 AUTOMOTIVE 180
8.4.1 THRIVING AUTOMOTIVE SECTOR TO SUPPORT MARKET GROWTH 180
8.5 HEALTHCARE 185
8.5.1 TO BE FASTEST-GROWING APPLICATION OF PIEZOELECTRIC DEVICES DURING FORECAST PERIOD 185
8.5.2 IMAGING DEVICES 186
- 8.5.2.1 Integration of piezoelectric devices into imaging devices for ultrasound and cone beam three-dimensional imaging applications 186
8.5.3 DIAGNOSTIC EQUIPMENT 187
- 8.5.3.1 Piezoelectric ceramics used in MRI scanners and endoscopes 187
8.5.4 SURGICAL TOOLS 187
- 8.5.4.1 Deployment of piezoelectric technology in surgery tools for faster recovery 187
8.6 INFORMATION & COMMUNICATION 192
8.6.1 ADOPTION OF PIEZOELECTRIC COMPONENTS IN SONAR APPLICATIONS TO PROPEL MARKET 192
8.7 CONSUMER ELECTRONICS 196
8.7.1 INCREASING USE OF PIEZOELECTRIC SENSORS IN CONSUMER ELECTRONICS TO DRIVE MARKET 196
8.7.2 WEARABLE DEVICES 198
- 8.7.2.1 Collaboration of market players with universities and research institutes to develop advanced piezoelectricity-based wearables 198
8.7.3 ELECTRONIC DEVICES 199
- 8.7.3.1 Growing consumer electronics segment to spur demand for piezoelectric devices 199
8.8 OTHER APPLICATIONS 204
9 PIEZOELECTRIC DEVICES MARKET, BY PIEZOELECTRIC ELEMENT 209
9.1 INTRODUCTION 210
9.2 PIEZOELECTRIC DISCS 212
9.2.1 CONSUME LOW POWER AND PROVIDE FAST RESPONSE 212
9.3 PIEZOELECTRIC RINGS 213
9.3.1 DESIGNED FOR HEALTHCARE AND ULTRASONIC APPLICATIONS 213
9.4 PIEZOELECTRIC PLATES 213
9.4.1 MEASURE ACCELERATION, FORCE, PRESSURE, AND STRAIN 213
10 PIEZOELECTRIC DEVICES MARKET, BY MODE OF OPERATION 214
10.1 INTRODUCTION 214
10.2 DIRECT PIEZOELECTRIC EFFECT 214
10.3 CONVERSE PIEZOELECTRIC EFFECT 215
11 PIEZOELECTRIC DEVICES MARKET, BY REGION 216
11.1 INTRODUCTION 217
11.2 NORTH AMERICA 220
11.2.1 RECESSION IMPACT ANALYSIS 220
11.2.2 US 223
- 11.2.2.1 To be largest North American piezoelectric devices market 223
11.2.3 CANADA 224
- 11.2.3.1 To witness significant investment for R&D of piezoelectric technology 224
11.2.4 MEXICO 224
- 11.2.4.1 Increasing number of industrial & manufacturing facilities to support market 224
11.3 EUROPE 225
11.3.1 RECESSION IMPACT ANALYSIS 226
11.3.2 GERMANY 229
- 11.3.2.1 Growing automotive sector to contribute to market growth 229
11.3.3 FRANCE 230
- 11.3.3.1 Surging demand for electric vehicles to fuel market 230
11.3.4 UK 230
- 11.3.4.1 Thriving aerospace & defense industry to witness high demand for piezoelectric devices 230
11.3.5 ITALY 231
- 11.3.5.1 Increasing production of automobiles to spur demand for piezoelectric devices 231
11.3.6 REST OF EUROPE 231
11.4 ASIA PACIFIC 232
11.4.1 RECESSION IMPACT ANALYSIS 232
11.4.2 JAPAN 235
- 11.4.2.1 Emphasis on R&D of piezoelectric materials to accelerate market growth 235
11.4.3 CHINA 236
- 11.4.3.1 To be fastest-growing market in Asia Pacific 236
11.4.4 SOUTH KOREA 237
- 11.4.4.1 Booming consumer electronics and automotive sectors to push market growth 237
11.4.5 REST OF ASIA PACIFIC 238
11.5 ROW 238
11.5.1 RECESSION IMPACT ANALYSIS 238
11.5.2 MIDDLE EAST & AFRICA 240
- 11.5.2.1 Adoption of piezoelectric devices in oil and manufacturing facilities to foster market growth 240
11.5.3 SOUTH AMERICA 241
- 11.5.3.1 Increasing demand from healthcare & automotive applications to favor market growth 241
12 COMPETITIVE LANDSCAPE 242
12.1 OVERVIEW 242
12.2 MARKET SHARE ANALYSIS 243
12.3 3-YEAR COMPANY REVENUE ANALYSIS FOR TOP 2 COMPANIES 245
12.4 COMPANY EVALUATION QUADRANT 246
12.4.1 STARS 246
12.4.2 EMERGING LEADERS 246
12.4.3 PERVASIVE PLAYERS 246
12.4.4 PARTICIPANTS 247
12.5 START-UP/SME EVALUATION MATRIX 248
12.5.1 PROGRESSIVE COMPANIES 250
12.5.2 RESPONSIVE COMPANIES 250
12.5.3 DYNAMIC COMPANIES 250
12.5.4 STARTING BLOCKS 250
12.5.5 COMPETITIVE BENCHMARKING 253
12.6 COMPANY FOOTPRINT 254
12.7 COMPETITIVE SITUATIONS AND TRENDS 258
12.7.1 PRODUCT LAUNCHES 259
12.7.2 DEALS 260
12.7.3 OTHERS 262
13 COMPANY PROFILES 263
13.1 KEY PLAYERS 263
13.1.1 CERAMTEC GMBH 263
13.1.2 CTS CORPORATION 269
13.1.3 KISTLER GROUP 276
13.1.4 PHYSIK INSTRUMENTE (PI) GMBH & CO. KG 281
13.1.5 AEROTECH INC 287
13.1.6 PIEZOSYSTEM JENA GMBH 290
13.1.7 KEMET CORPORATION 293
13.1.8 PIEZO TECHNOLOGIES 294
13.1.9 APC INTERNATIONAL, LTD 296
13.1.10 MAD CITY LABS, INC 298
13.2 OTHER KEY PLAYERS 299
13.2.1 TE CONNECTIVITY LTD 299
13.2.2 MIDE TECHNOLOGY CORP 300
13.2.3 OMEGA PIEZO TECHNOLOGIES, INC 301
13.2.4 PCB PIEZOTRONICS, INC 302
13.2.5 PIEZOMOTOR 303
13.2.6 PIEZOMECHANIK DR. LUTZ PICKELMANN GMBH 304
13.2.7 DYTRAN INSTRUMENTS INCORPORATED 305
13.2.8 PIEZO SOLUTIONS 306
13.2.9 ELPA RESEARCH INSTITUTE 307
13.2.10 HOERBIGER MOTION CONTROL GMBH 308
13.2.11 CENTRAL ELECTRONICS LIMITED (CEL) 308
13.2.12 HONG KONG PIEZO CO. LTD 309
13.2.13 TRS TECHNOLOGIES 310
13.2.14 SPARKLER CERAMICS 311
13.2.15 PIEZOTECH ARKEMA 312
13.2.16 SOLVAY 313
14 APPENDIX 314
14.1 DISCUSSION GUIDE 314
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 317
14.3 CUSTOMIZATION OPTIONS 319
14.4 RELATED REPORTS 319
14.5 AUTHOR DETAILS 320