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Piezoelectric Components Market - Forecast(2024 - 2030)
Piezoelectric Components Market Overview:
Piezoelectric Components Market size was estimated at USD 32.1 billion in 2030 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. The market is expected to be driven by the implementation of automation systems by major manufacturers as an important tool to reduce operational costs during production. Furthermore, the rising need for increasing efficiency and reducing lead times in production processes is expected to promote the usage of actuators, thus fueling the demand for piezoelectric materials over the forecast period.
Additionally, Piezoelectric materials are used in various end-use industries such as automotive, healthcare, telecom, consumer goods, aerospace & defense, and telecommunication. The material is used in actuators, sensors, motors, generators, acoustic devices, and SONAR. End users purchase the products according to their particular requirements from manufacturers, for instance, in the automotive industry, quartz is preferred as it offers superior protection to car engines. Numerous global, as well as regional market player, operate in the piezoelectric materials market. Factors such as penetration of the product in major end-use sectors such as automotive, healthcare, and aerospace coupled with product consumption, the presence of well-established manufacturers, and the intensity of rivalry govern the competitive nature of the piezoelectric materials market
Market Snapshot:
Piezoelectric Components Market- Report Coverage:
The “Piezoelectric Components Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Piezoelectric Components Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
● The COVID-19 pandemic situation affected the supply of piezoelectric materials and has subsequently interrupted industrial operations. Moreover, the supply of Piezoelectric materials in import-dependent countries had a significant effect on the trade disruptions which declined the market growth in the year 2020. Like many other industries, the piezoelectric components market experienced disruptions in its supply chain due to the pandemic. Restrictions on movement and lockdowns in various parts of the world led to delays in the production and transportation of these components. The pandemic accelerated trends in certain industries. For instance, the increased use of remote monitoring and telemedicine led to greater demand for medical devices that incorporate piezoelectric components. Similarly, the growth of the electric vehicle market could drive demand for piezoelectric components used in sensors and energy harvesting.
● Exchange rate fluctuations are common during geopolitical crises. These fluctuations can impact the cost of imported components and affect the profitability of companies that rely on international trade for their piezoelectric components. In response to geopolitical tensions, governments may impose export restrictions or sanctions on certain countries or industries. Such measures can limit access to key components or markets, affecting the piezoelectric components industry. the specific impact of the Ukraine crisis on the piezoelectric components market would depend on a variety of factors, including the duration and severity of the crisis, the countries and companies involved, and the global economic and political response
Key Takeaways:
● Fastest Growth Asia Pacific Region
● Geographically, Asia Pacific region dominated the market in 2022 and is further expected to grow at the fastest CAGR of 9.8% over the forecast period. The robust presence of the electronics industry in Taiwan, China, South Korea, India, and Japan is likely to be a favorable factor. In addition, improving sales of consumer electronics products in South Asia and ASEAN countries including smartphones and tablets in light of new product launches by Apple, Samsung, LG is expected to open new opportunities for conductive polymers. China dominated the revenue share of piezoelectric materials in the Asia Pacific region, and the expected boost in demand for piezoelectric materials used in energy storage systems in the country is attributed to regulatory initiatives aimed at expediting solar and wind power generation.
● Growing Demand of Piezoelectric Components in Health Care
Smart piezoelectric materials are attracting a lot of attention in the healthcare industry owing to their alluring properties. Due to the bio-compatibility and biodegradability of piezoelectric smart materials, progress in the application of piezoelectric materials in biomedical devices is seen. The increasing use of piezoelectric smart materials to design medical devices and provide a greater understanding of the piezoelectric effect in the medical industry is driving the growth of the market. Actuators and sensors, energy harvesters, and active neural tissue engineering scaffolds are all examples of medical devices that are constantly being researched. Piezoelectric smart materials such as sensors and actuators used in the medical devices can transform the flow rate, and pressure to generate or consume energy.
● Increasing Adoption of Piezoelectric Products in the Aerospace Industry is the Fastest Growing Segment in the Market.
The aerospace industry has witnessed a transformative shift towards advanced technologies that enhance both performance and efficiency. Piezoelectric products, known for their exceptional ability to convert mechanical vibrations into electrical energy and vice versa, align seamlessly with the aerospace industry's pursuit of innovative solutions. The aerospace industry's rapid embrace of piezoelectric products is also underscored by the lightweight nature of these components, which aligns with the aerospace industry's continuous pursuit of weight reduction to enhance fuel efficiency and overall performance. This synergy between the unique capabilities of piezoelectric products and the aerospace industry's evolving needs has led to a significant surge in their adoption, making aerospace the most dynamically growing segment within the Market.
● The Increasing Demand from Automobile Makers for Piezoelectric Devices
One of the key applications of piezoelectric technology in automobiles lies in the realm of energy harvesting. The mechanical vibrations and movements generated during vehicle operation can be harnessed using piezoelectric materials to generate electrical energy. This harvested energy can then power various vehicle systems, contributing to improved energy efficiency and reduced reliance on traditional energy sources. Additionally, piezoelectric sensors are finding extensive use in the automotive industry for functions such as tire pressure monitoring, engine diagnostics, and occupant safety systems. These sensors can accurately detect changes in pressure, strain, and vibrations, providing real-time data for enhanced vehicle performance, safety, and maintenance. The lightweight and compact nature of piezoelectric components aligns with the automotive industry's pursuit of weight reduction and space optimization, contributing to improved vehicle dynamics and overall efficiency.
● Increasing Investment in Renewable Energy Initiatives
The piezoelectric components market is witnessing a significant surge in investment, primarily attributed to the growing emphasis on renewable energy initiatives worldwide. As governments and industries increasingly recognize the need to transition towards cleaner and more sustainable energy sources, the demand for piezoelectric components, which play a crucial role in various renewable energy applications, is on the rise. One of the key areas where these components are finding increased usage is in energy harvesting systems. Piezoelectric materials can convert mechanical vibrations, such as those generated by wind turbines or solar panels, into electrical energy. This capability makes them an ideal choice for enhancing the overall efficiency and sustainability of renewable energy installations.
Similarly, in the wind energy sector, piezoelectric sensors and materials are being utilized to capture wind-induced vibrations and mechanical strains in turbine blades. This harvested energy can be used for blade de-icing, health monitoring, and even partial power generation, further improving the overall efficiency and reliability of wind farms.
● Growing Demand for Adoption of Piezoelectric Products in Biomedical and Surgical Applications Will Positively Impact the Market Growth.
The biomedical and surgical sectors are experiencing a rapid evolution, marked by technological advancements that are reshaping diagnostics, treatment methods, and patient care. Within this context, piezoelectric products have emerged as game-changers due to their unique properties, such as precise motion control, accurate sensing capabilities, and the ability to generate ultrasonic vibrations. In biomedical imaging, piezoelectric transducers are pivotal components of ultrasound systems. These transducers emit and receive ultrasonic waves that allow for non-invasive imaging of internal organs, tissues, and even blood flow. The exceptional precision and real-time imaging capabilities provided by piezoelectric-based ultrasound systems contribute to enhanced diagnostics and minimally invasive procedures.
Furthermore, the adoption of piezoelectric actuators and sensors in surgical applications has led to transformative breakthroughs. In robotic-assisted surgeries, these components enable highly precise and controlled movements of surgical instruments, reducing invasiveness and improving surgical outcomes. The inherent responsiveness of piezoelectric materials to electric signals allows for rapid adjustments in instrument positioning, enhancing the surgeon's capabilities during complex procedures.
● Growing Use of Piezoelectric Nanomaterials in Electronic Devices
The Piezoelectric Components Market is experiencing a notable shift driven by the increasing utilization of piezoelectric nanomaterials in electronic devices. Nanotechnology has ushered in a new era of innovation, enabling the miniaturization and enhanced performance of electronic components. In this context, piezoelectric nanomaterials, which exhibit unique piezoelectric properties at the nanoscale, are finding growing applications in a wide range of electronic devices. In the field of microelectronics, piezoelectric nanomaterials are contributing to advancements in memory storage. The use of these materials in non-volatile memory devices allows for faster data storage and retrieval, improved energy efficiency, and extended lifespan compared to conventional memory technologies.
Moreover, piezoelectric nanogenerators are being developed for wearable and portable electronics. These small, lightweight devices can generate electricity from ambient mechanical movements, such as body motions or even vibrations from sound waves.
● High Cost of Piezoelectric Materials Hamper the Market Growth
The high cost of piezoelectric materials represents a significant hurdle to the growth of the Piezoelectric Components Market. While piezoelectric materials offer exceptional properties and functionalities, their expense can limit their widespread adoption in various applications. The high cost of piezoelectric materials can pose challenges for businesses looking to incorporate them into their products or systems. This is particularly relevant in industries where cost-effectiveness is a critical factor, such as consumer electronics and automotive manufacturing. The elevated cost can deter manufacturers from adopting piezoelectric solutions, opting instead for more budget-friendly alternatives.
One of the primary reasons for the high cost of piezoelectric materials is the complexity of their manufacturing process. These materials are often synthesized with specialized techniques that require precision and quality control. Additionally, the raw materials used in their production can be expensive and may have limited availability, further driving up costs. As a result, the overall production costs are elevated, which translates into higher prices for piezoelectric components.
Piezoelectric Components Market Share (%) By Region, 2022
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Piezoelectric Components Market. The top 10 companies in this industry are listed below:
- PI Ceramic GMBH
- APC International, Ltd.
- Harris Corporation
- CTS Corporation
- Peizosystem Jena GmbH
- CeramTec
- Sparkler Ceramics
- Noliac A/S
- Piezomechanik Dr. Lutz Pickelmann GmbH
- Mad City Labs, Inc.
Scope of Report:
1. Piezoelectric Components Market- Overview
1.1. Definitions and Scope
2. Piezoelectric Components Market- Executive Summary
3. Piezoelectric Components Market- Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Piezoelectric Components Market- Start-up Companies Scenario
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. Piezoelectric Components Market – Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Piezoelectric Components Market- Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7. Piezoelectric Components Market– Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. Piezoelectric Components Market– By Material Type (Market Size – $Million/$Billion)
8.1. Ceramics
8.2. Polymers
8.3. Composites
8.4. Others
9. Piezoelectric Components Market– By Application (Market Size – $Million/$Billion)
9.1. Actuators
9.1.1. Stack Actuators
9.1.2. Bender Actuators
9.1.3. Tube Actuators
9.1.4. Ring Actuators
9.1.5. Others
9.2. Sensors
9.3. Motors
9.4. Acoustic Devices
9.5. Generators
9.6. Transducers
9.7. Fuel Injectors
9.8. Others
10. Piezoelectric Components Market – By Element (Market Size – $Million/$Billion)
10.1. Discs
10.2. Rings
10.3. Plates
11. Piezoelectric Components Market – By End Use Industry (Market Size – $Million/$Billion)
11.1. Automotive
11.2. Healthcare
11.2.1. Ultrasound Imaging Systems
11.2.2. Medical Sensors
11.2.3. Implantable Medical Devices
11.2.4. Surgical Instruments
11.2.5. Respiratory Devices
11.2.6. Others
11.3. Information & Telecom
11.4. Consumer goods
11.5. Aerospace & Defense
11.6. Building and Construction
11.7. Energy Harvesting and Power Generation
11.8. Robotics and Automation
11.9. Industrial Automation
11.10. Oil and Gas Industry
11.11. Others
12. Piezoelectric Components Market – by Geography (Market Size – $Million/$Billion)
12.1. North America
12.1.1. The U.S
12.1.2. Canada
12.1.3. Others
12.2. Europe
12.2.1. Germany
12.2.2. France
12.2.3. UK
12.2.4. Italy
12.2.5. Spain
12.2.6. Netherlands
12.2.7. Belgium
12.2.8. Russia
12.2.9. Poland
12.2.10. Czechia
12.2.11. Sweden
12.2.12. Rest of Europe
12.3. Asia-Pacific
12.4. South America
12.5. Rest of the World
13. Piezoelectric Components Market – Entropy
13.1. New product launches
13.2. M&A’s, collaborations, JVs and partnerships
14. Piezoelectric Components Market – Industry/Segment Competition Landscape
14.1. Market Share Analysis
14.1.1. Market Share by Product Type – Key Companies
14.1.2. Market Share by Region – Key Companies
14.1.3. Market Share by Country – Key Companies
14.2. Competition Matrix
14.3. Best Practices for Companies
15. Piezoelectric Components Market – Key Company List by Country Premium
16. Piezoelectric Components Market - Company Analysis
16.1. PI Ceramic GMBH
16.2. APC International, Ltd.
16.3. Harris Corporation
16.4. CTS Corporation
16.5. Peizosystem Jena GmbH
16.6. CeramTec
16.7. Sparkler Ceramics
16.8. Noliac A/S
16.9. Piezomechanik Dr. Lutz Pickelmann GmbH
16.10. Mad City Labs, Inc.
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Piezoelectric Components Market projected to grow at 6.8% CAGR during the forecast period 2023-2030.
Piezoelectric Components Market size is estimated to be $32.1 billion in 2023 and is projected to reach $50.9 billion by 2030.
Top companies in the Piezoelectric Components Market are PI Ceramic GMBH Sparkler Ceramics, Ceram Tec, Noliac A/S , Mad City Labs,Inc. and Others.
Growing use of Piezoelectric nanomaterials in electronic devices, The Increasing demand from automobile makers for piezoelectric devices are some of the major Piezoelectric Components Market Trends in the industry that will create growth opportunities for the market during the forecast period.
Growing Demand of Piezoelectric Components in Health Care and increasing adoption of Piezoelectric Products in the Aerospace Industry is the Fastest Growing Segment in the Market. industries are the driving factors of the market.