Piezoelectric Devices - Global Market Outlook (2021 - 2028)

Piezoelectric Devices - Global Market Outlook (2021 - 2028)

According to Stratistics MRC, the Global Piezoelectric Devices Market is accounted for $25.13 billion in 2021 and is expected to reach $38.54 billion by 2028 growing at a CAGR of 6.3% during the forecast period. A piezoelectric device uses the piezoelectric produce to measure changes in force, temperature, acceleration, and force by converting them into an electric pulsation. Piezoelectric devices are used in various industries for excellence assurance, procedure control, and research and development. These devices are used in medical, aerospace, and nuclear instrumentation, and consumer electronics.

Market Dynamics:

Driver:

Surging need for high-performance sensors witnessed by aerospace industry

Players from the aerospace industry are often engaged in the manufacturing, selling, and servicing of commercial aircraft, space vehicles, and satellites. The industry requires advanced and improved solutions to increase the efficiency, durability, and performance of aircraft, planes, helicopters, submarines, etc. Piezoelectric polymers are used in the aerospace industry owing to their high mechanical strength, low weight, easy and fast processing, thermal and chemical stability, and excellent wear resistance. They also possess outstanding sensing characteristics and can be used to determine the integrity of aircraft structures. Therefore, polymer materials can be employed as supporting media in optical sensors to form an integrated vehicle health system, providing updates on the condition of vehicular components, subsystems, and structures.

Restraint:

Stringent government policies that mandate utilization of lead-free piezoelectric materials

Piezoelectric ceramic materials without having lead oxide (PbO) in their composition are called lead-free piezoelectric ceramic materials. Lead zirconate titanate (PZT) is a core piezoelectric ceramic material, which is mainly used in various applications. According to the Restriction of Hazardous Substances (RoHS) directives by the European Union (EU), the application of PZT material should be restricted to avoid its negative impact on the environment. According to the World Health Organization, lead is a toxic metal, which has severe effects on human health, especially on young children. It can have an adverse impact on the brain, bones, blood, liver, teeth, and kidneys. Moreover, when a lead is released in the air through industrial sources and aircraft engines, it travels long distances before settling to the ground, where it usually settles on soil particles.

Opportunity:

Promising newer applications of piezoelectric polymers in piezoelectric actuators and motors

A piezoelectric motor generates motion when a piezoelectric material changes its shape due to an electric field. Piezoelectric motors offer several advantages, such as high speed, high resistance to external forces such as shocks and vibrations, compact size, high energy efficiency, simple and non-magnetic design, high resolution, long lifespan, high compatibility with adverse environmental conditions, such as humid, extremely hot, and cryogenic environment; high precision; and the ability of self-locking in the rest position. Moreover, piezoelectric motors are intrinsically vacuum-compatible and lightweight and provide greater force and torque than electromagnetic motors. Such motors are used in various applications, such as digital cameras for autofocus, zooming, and optical image stabilization; micro and nano-positioning; and medical catheter placement.

Threat:

Building effective inventory management system and space utilization due to rapid technological changes

In the near future, advancements in piezoelectric wafers are expected to play a pivotal role in the non-destructive evaluation (NDE) of aircraft structures in aerospace & defense industrial fields. Structural health monitoring (SHM) for integrated vehicle health monitoring (IVHM) requires small, lightweight, and minimally invasive sensors, which can be integrated with or mounted on the surface of structures. Also, they should be capable enough to scan and identify defects and emerging damages in these structures. Especially, for the NDE of thin-wall structures, piezoelectric wafers seem promising for Lamb wave excitation and sensing. Incidentally, piezoelectric wafers are normally required in large numbers for NDE of structures and it is proven as cost-effective technology; hence, making such wafers is the need of the hour. Though the standard tape casting (doctor blade) technique is expected to serve the purpose, some typical problems that arise during the fabrication of PZT-based wafers need to be sorted so that high-performance wafers can be produced.

The piezoelectric polymers segment is expected to have the highest CAGR during the forecast period

The piezoelectric polymers segment is growing at the highest CAGR in the market. The growth is attributed to their various features, such as broad resonance bandwidth, low acoustic impedance, low fabrication cost, lightweight, fast processing speed, as well as their rapid adoption in healthcare applications. Among piezoelectric polymers, polyvinylidene fluoride (PVDF) is a pure thermoplastic fluoropolymer, which is usually the preferred material due to its low cost, highly non-reactive properties, super-sensitivity to pressure, and strong compliance with government regulations such as restricted material mandates under Reduction of Hazardous Substances (RoHS).

Region with highest share:

North America is projected to hold the largest share in the market. The market in North America comprises developing economies across the United States and Canada with the increasing adoption of Piezoelectric Devices in the portable electronics technology & communications industry, along with advanced medical solutions and surgical tools that are expected to drive the market during the forecast period.

Region with highest CAGR:

The Asia Pacific is projected to have the highest CAGR in the market. APAC is home to major producers of piezoelectric ceramics, crystals, as well as various piezoelectric products. Countries such as China and Japan are the major contributors to this region and together account for the largest share of the total piezoelectric devices market share in APAC.

Key players in the market:

Some of the key players profiled in the Piezoelectric Devices Market include Aerotech Inc., APC International, LTD., Cedrat Technologies, CeramTec GmbH, CTS Corporation, Dytran Instruments Incorporated., Kistler Group, L3HARRIS TECHNOLOGIES, Inc., Mad City Labs, Inc., Mide Technology Corp., Omega Piezo Technologies, Inc., PCB Piezotronics, Inc, Physik Instrumente (PI) GmbH & Co. Kg., Piezo Solutions, Piezo Technologies, Piezomechanik Dr. Lutz Pickelmann GmbH, Piezomotor, and Piezosystem Jena GmbH.

Key developments:

In May 2021: Kistler Group (Switzerland) expanded its range of smart accessory equipment to ensure that piezoelectric sensors can be perfectly and securely positioned in any individual measuring system. Adapters, connector extenders, and special reamers ensure that sensors are snugly placed into the right position and transmit signals perfectly.

In March 2021: CeramTec GmbH (Germany) developed high-power ultrasonic surgery transducers for different medical applications. Ultrasonic transducers offer several benefits over traditional techniques, including increased safety, higher precision, faster healing, and more comfort for patients.

In February 2021: CTS Corporation, along with its strategic partner called Entekno Materials based in Turkey, secured funding from Eurostars to develop environmentally friendly lead-free piezoelectric ceramic material. Eurostars is an EU-funded grant system for selected innovative product development, and it only funds the projects with high commercial impact.

Products Covered:
Piezoelectric Motors
Piezoelectric Sensors
Piezoelectric Transducers
Piezoelectric Generators
Piezoelectric Actuators
Other Products

Materials Covered:
Piezoelectric Composites
Piezoelectric Crystals
Piezoelectric Polymers
Piezoelectric Ceramics

Elements Covered:
Piezoelectric Plates
Piezoelectric Discs
Piezoelectric Rings

Piezoelectric Devices Covered:
Direct Piezoelectric Effect
Converse Piezoelectric Effect

Applications Covered:
Consumer Electronics
Healthcare
Oil & Gas
Communication and Technology
Aerospace & Defense
Industrial & Manufacturing
Automotive
Information Technology & Telecommunication
Other Applications

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances