Piezoelectric Devices Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Introduction

Piezoelectric devices leverage the piezoelectric effect, where certain materials, such as quartz and ceramics, produce an electric charge when subjected to mechanical pressure. This effect allows for the efficient conversion between mechanical and electrical energy, making these devices indispensable in various fields.

In healthcare, piezoelectric devices are essential for ultrasound imaging, precision sensors, and surgical tools. Likewise, they support automation, precision actuation, and vibration control in industrial and manufacturing settings. Moreover, piezoelectric materials are critical for advancements in automotive technology, consumer electronics, and energy harvesting solutions.

Market Dynamics The high adoption rate of piezoelectric products in the aerospace industry drives the global market

The aerospace industry significantly contributes to the global growth of the piezoelectric market, driven by its demand for high-performance, efficient, and durable solutions. Piezoelectric devices , including actuators and sensors, are essential for applications in commercial aircraft, space vehicles, and satellites. These devices are integral to active vibration damping, enhancing aircraft stability and operational efficiency by reducing unwanted vibrations, minimizing noise, and improving fuel efficiency.

• A recent breakthrough highlights this trend: a study published on March 11, 2024, in
  The International Journal of Mechanical Systems Dynamics
  by researchers from Nanjing University of Aeronautics and Astronautics introduced a pioneering bidirectional energy-controlled piezoelectric shunt damping technology.

This innovation is poised to transform vibration control in aerospace applications, underscoring the industry's drive for advanced technologies that elevate performance and efficiency. The aerospace sector's commitment to adopting such innovative solutions continues to expand opportunities for piezoelectric devices in global markets.

Ongoing innovations and new product development are poised to drive growth in the global piezoelectric market, with advances in material science, nanotechnology, and manufacturing processes making devices more efficient and cost-effective. Researchers are developing new materials and production methods to enhance the performance and affordability of piezoelectric devices.

Moreover, recent breakthroughs include the creation of highly sensitive wearable blood pressure sensors, which use piezoelectric technology to improve precision and convenience in health monitoring. Another key advancement is the development of lead-free piezoelectric devices, which are both safer for users and environmentally friendly.

• A notable example is the April 2023 innovation from Professor Keon Jae Lee's team at KAIST in partnership with the College of Medicine at the Catholic University of Korea. They unveiled a highly sensitive, wearable blood pressure sensor that harnesses piezoelectric technology, showcasing the potential for transformative health applications through cutting-edge piezoelectric devices.

Regional Analysis

The Asia-Pacific region leads the global piezoelectric devices market, commanding a notable 51.51% share in 2023, a rise from 42.1% in 2022. This growth stems from increased demand across industries like healthcare, automotive, and energy harvesting, coupled with supportive government initiatives and industrial expansion.

• In China, the burgeoning manufacturing and tech sectors drive the use of piezoelectric sensors and actuators, with companies such as BYD incorporating these components in electric vehicles for enhanced performance.
• Taiwan, a semiconductor production hub, relies on piezoelectric components for precision, as seen in TSMC's use of piezoelectric materials in semiconductor fabrication.
• South Korea's focus on electronics and automation boosts demand, with firms like Samsung and LG integrating piezoelectric sensors in their devices.
• Japan, a leader in advanced technology, employs piezoelectric devices in fields like healthcare and aerospace, with Canon utilizing piezoelectric technology in precision imaging equipment, underscoring the region's role in innovation.

Key Highlights

• The global piezoelectric devices market size was valued at USD 32.27 billion in 2023 and is projected to grow from USD 34.41 billion in 2024 to reach USD 57.45 billion by 2032, expanding at a CAGR of 6.62% during the forecast period (2024–2032).
• By product, piezoelectric sensors lead the global market due to their extensive use across various industries.
• By material, piezoelectric composites dominate the material segment, capturing approximately 32%.
• By application,the healthcare sector leads the application segment of the global market.
• By element, piezoelectric discs dominate the element segment due to their small, thin, and lightweight design.
• Asia-Pacific is the highest shareholder in the global market.