Growing Demand for Energy Harvesting Applications Boosts Piezoelectric Devices Market

The piezoelectric devices market is projected to grow from  USD 30.8 billion in 2022 and is projected to reach USD 41.0 billion by 2027; it is expected to grow at a CAGR of 5.9% from 2022 to 2027. 

High adoption of piezoelectric products in aerospace industry, elevated use of piezoelectric energy harvesters, and accelerated demand for piezoelectric devices from automotive manufacturers are among factors that contribute to the growth of the piezoelectric devices market.

Applications:

Piezoelectric devices have a wide range of applications across several industries. In the healthcare industry, they are used in medical imaging equipment such as ultrasound machines, as well as in implantable medical devices such as pacemakers. In the automotive industry, they are used in sensors for airbag deployment and tire pressure monitoring systems. In the aerospace industry, they are used in vibration control systems for aircraft and in missile guidance systems.

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Trends and Developments:

The Piezoelectric Devices Market is seeing several trends and developments that are driving growth in the industry. One such trend is the development of new materials and technologies that are improving the performance and durability of piezoelectric devices. For example, researchers are developing piezoelectric materials that can withstand higher temperatures and pressures, making them suitable for use in harsh environments.

The use of piezoelectric technology in renewable energy applications, such wind turbines and energy harvesting devices, is another trend. Piezoelectric materials are an appealing choice for the generation of renewable energy because they may be utilised to transform mechanical energy from wind or other sources into electrical energy.

Opportunities for Growth:

The Piezoelectric Devices Market is expected to see significant growth in the coming years, driven by several factors. One such factor is the increasing demand for piezoelectric devices in healthcare applications, such as medical imaging equipment and implantable medical devices. Another factor is the growing use of piezoelectric sensors in the automotive industry for safety and performance applications.

In addition, it is anticipated that growing use of renewable energy sources would increase the need for piezoelectric technology in energy harvesting applications. The need for effective and dependable energy harvesting equipment will increase along with the need for renewable energy sources.

Key players in the piezoelectric devices market include CeramTec GmbH (Germany); CTS Corporation (US); Kistler Group (Switzerland); Physik Instrumente (PI) GmbH & Co. KG. (Germany); piezosystem jena GmbH (Germany); Piezo Technologies (US); Noliac A/S (Denmark); Aerotech Inc. (US); APC International, Ltd., (US); Mad City Labs, Inc. (US) are among the leading companies in the piezoelectric devices market. 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.

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