Piezoelectric Devices Market
Piezoelectric Devices Market
The market for Piezoelectric Devices was estimated at $31.89 billion in 2023; it is anticipated to increase to $51.9 billion by 2030, with projections indicating growth to around $73.5 billion by 2035.
Global Piezoelectric Devices Market Outlook
Revenue, 2023 (US$B)
Forecast, 2033 (US$B)
CAGR, 2023 - 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 is expected to add $4.6 billion to the Piezoelectric Devices market growth 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
North America Outlook
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.
Asia-Pacific Outlook
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
Driver: Increasing Demand for Precision Sensing in Automotive and Healthcare, and Industrial Automation Expansion
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.
Restraint: High Production Costs, and Complexity in Integration
Incorporating piezoelectric components into gadgets may necessitate specific expertise and tools creating obstacles for certain producers.
Opportunity: Emerging Markets Demand and Development of Eco-Friendly Piezoelectric Materials
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.
Challenge: Limited Temperature Range
Supply Chain Landscape
Kyocera
CeramTec
[Provides essential materials like ceramics and polymers]
Murata Manufacturing
TDK
[Produces core piezoelectric components, including sensors and actuators]
Bosch
Philips
[Incorporates piezoelectric components into specialized devices]
Automotive
Healthcare
Consumer Electronics
[Toyota, Samsung, GE Healthcare]
Kyocera
CeramTec
[Provides essential materials like ceramics and polymers]
Murata Manufacturing
TDK
[Produces core piezoelectric components, including sensors and actuators]
Bosch
Philips
[Incorporates piezoelectric components into specialized devices]
Automotive
Healthcare
Consumer Electronics
[Toyota, Samsung, GE Healthcare]
Applications of Piezoelectric Devices in Automotive, Consumer Electronics & Healthcare
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.
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.
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.
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
Murata Manufacturing unveiled a line of environmentally friendly piezo sensors designed for use, in the automotive industry.
Philips Healthcare improved its piezo ultrasound technology to enhance imaging resolution.
TDK enlarged its response options for gadgets used by consumers with a focus, on smartphones and wearable devices.