Piezoelectric Devices Market
The market for Piezoelectric Devices was estimated at $31.9 billion in 2023; it is anticipated to increase to $51.9 billion by 2030, with projections indicating growth to around $73.5 billion by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Piezoelectric Devices Market Outlook
Revenue, 2023
$31.9B
Forecast, 2033
$63.9B
CAGR, 2024 - 2033
7.2%
The Piezoelectric Devices industry revenue is expected to be around $36.6 billion in 2024 and expected to showcase growth with 7.2% CAGR between 2024 and 2033. Piezoelectric devices utilize the piezo effect to produce a charge when subjected to mechanical pressure - a vital component in various industries requiring precise applications. By the year 2023 the market value of Piezoelectric devices stood around USD 32 billion and is forecasted to hit USD 52 billion by 2030 and potentially reach USD 73 billion by 2035 showcasing a growth rate of 7.2% CAGR. This upsurge is primarily fueled by the increasing need for sensing and actuation solutions in automotive, healthcare and consumer electronics sectors.
Piezoelectric devices play a key role in systems that need precise movement control and energy transformation. From sensors used in automotive airbags to actuators employed in medical ultrasound imaging machines. These devices are now more common in applications that demand precision due to their features, like minimal energy usage and strong dependability.
Market Key Insights
- The Piezoelectric Devices market is projected to grow from $31.9 billion in 2023 to $63.9 billion in 2033. This represents a CAGR of 7.2%, reflecting rising demand across Automotive, Consumer Electronics and Healthcare.
- Murata Manufacturing, TDK, Physik Instrumente (PI) are among the leading players in this market, shaping its competitive landscape.
- U.S. and Japan are the top markets within the Piezoelectric Devices market and are expected to observe the growth CAGR of 4.7% to 6.9% between 2023 and 2030.
- Emerging markets including India, Brazil and Mexico are expected to observe highest growth with CAGR ranging between 8.3% to 9.9%.
- Transition like Shift Towards Lead-Free Piezoelectric Materials has greater influence in United States and Japan market's value chain; and is expected to add $2 billion of additional value to Piezoelectric Devices industry revenue by 2030.
- The Piezoelectric Devices market is set to add $32.0 billion between 2023 and 2033, with manufacturer targeting Polymers & Composites Material projected to gain a larger market share.
- With Increasing demand for precision sensing in automotive and healthcare, and Growth in consumer electronics for haptic and acoustic applications, Piezoelectric Devices market to expand 100% between 2023 and 2033.
Opportunities in the Piezoelectric Devices
Combining piezo devices with AI and IoT, elevates their performance by enabling real time monitoring; and provides intelligent features across a range of applications.
Growth Opportunities in North America and Asia-Pacific
In North America piezo devices are widely used in healthcare sectors with companies such as Physik Instrument and APC International playing significant roles in this market.
The Asia Pacific region is observing expansion in piezo devices specifically in Japan and South Korea due to the high demand from the consumer electronics and automotive sectors. Murata Manufacturing and TDK are among the companies in this area.
Market Dynamics and Supply Chain
01
Driver: Increasing Demand for Precision Sensing in Automotive and Healthcare, and Industrial Automation Expansion
Piezoelectric devices are also highly regarded for their accuracy and dependability in applications such as sensors, actuators, fuel injectors, imaging devices and drug delivery systems etc. The adoption of piezo devices in industrial automation applications are also on the rise. This is also especially true, for tasks that demand precision and durability in specific conditions.
The need for touch based response and accurate sound features in consumer gadgets, like smartphones and wearables is also fueling the growth of the piezoelectric industry.
02
Restraint: High Production Costs, and Complexity in Integration
Creating piezo devices can be costly when using top notch ceramics which could make them less accessible, for uses.
Incorporating piezoelectric components into gadgets may necessitate specific expertise and tools creating obstacles for certain producers.
03
Opportunity: Emerging Markets Demand and Development of Eco-Friendly Piezoelectric Materials
Emerging markets are experiencing industrial growth and embracing advanced technologies, present new opportunities for the utilization of piezo devices in sectors such as automotive and electronics.
The shift towards creating eco-friendly piezo materials that're free of lead & other harmful elements, would create a market opportunity for companies, focused on such direction.
04
Challenge: Limited Temperature Range
Some materials that respond to pressure changes may face challenges, in temperatures which limits their application in certain settings.
Supply Chain Landscape
1
Raw Material Supplier
KyoceraCeramTec[Provides essential materials like ceramics and polymers]
2
Component Manufacturer
Murata ManufacturingTDK[Produces core piezoelectric components, including sensors and actuators]
3
Device Manufacturer
BoschPhilips[Incorporates piezoelectric components into specialized devices]
4
End-User
AutomotiveHealthcareConsumer Electronics[Toyota, Samsung, GE Healthcare]
1
Raw Material Supplier
KyoceraCeramTec[Provides essential materials like ceramics and polymers]
2
Component Manufacturer
Murata ManufacturingTDK[Produces core piezoelectric components, including sensors and actuators]
3
Device Manufacturer
BoschPhilips[Incorporates piezoelectric components into specialized devices]
4
End-User
AutomotiveHealthcareConsumer Electronics[Toyota, Samsung, GE Healthcare]
Use Cases of Piezoelectric Devices in Automotive & Consumer Electronics
Automotive : Piezo devices play a role in automotive settings such as knock sensors and fuel injectors to maintain accuracy in functionality. Leading companies such as Bosch and Murata Manufacturing are at the forefront of providing piezo solutions for the industry.
Consumer Electronics : Piezoelectric components in consumer electronics are utilized for feedback and accurate sound production in gadgets like smartphones and wearables; TDK and AAC Technologies are known for their expertise in providing piezoelectric solutions, for consumer products.
Healthcare : Piezo devices play a key role in medical imaging and diagnostics; and are commonly utilized in ultrasound technology to provide accurate and detailed images. Philips Healthcare and Siemens Healthineers are at the forefront of implementing piezo technology in the healthcare sector.
Industrial : In the field of automation piezo devices are utilized for precise control and monitoring in systems that demand accuracy even in challenging surroundings. Physik Instrument (PI ) and Piezosystem Jena specialize in applications of piezo technology, in industrial settings.
Recent Developments
Innovations in piezo devices are now leaning towards eco-friendly materials and precise use in industries like automotive and healthcare. Imaging technologies are advancing too for better diagnostics with TDK offering tactile feedback for modern gadgets.
October 2024 : Murata Manufacturing unveiled a line of environmentally friendly piezo sensors designed for use, in the automotive industry.
July 2024 : Philips Healthcare improved its piezo ultrasound technology to enhance imaging resolution.
March 2024 : TDK enlarged its response options for gadgets used by consumers with a focus, on smartphones and wearable devices.
Impact of Industry Transitions on the Piezoelectric Devices Market
As a core segment of the Electrical & Electronics industry,
the Piezoelectric Devices market develops in line with broader industry shifts.
Over recent years, transitions such as Shift Towards Lead-Free Piezoelectric Materials and Increased Use in High-Precision Industrial Applications have redefined priorities
across the Electrical & Electronics sector,
influencing how the Piezoelectric Devices market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Shift Towards Lead-Free Piezoelectric Materials
Environmental policies promote the advancement of eco piezo materials without lead content to offer more sustainable choices, to industry.
02
Increased Use in High-Precision Industrial Applications
Piezo electric gadgets are becoming more popular, in applications where accuracy and long lasting performance are essential.