Piezoelectric Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, Japan, Germany, South Korea - Size and Forecast 2024-2028

Piezoelectric Market Size 2024-2028 

The piezoelectric market size is forecast to increase by USD 9.87 billion at a CAGR of 5.27% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for energy-efficient solutions and the expanding utilization of piezoelectric nanomaterials in electronic devices. Single crystals and textured ceramics, such as PZT ceramic materials and polyvinylidene fluoride (PVDF), are key components in the production of piezoelectric motors, composite materials, and transducers. However, the high cost and complexity in manufacturing processes pose challenges to market growth. Research institutions, like the University of Leeds, are exploring alternative, less toxic materials, such as potassium sodium bismuth, to mitigate the environmental concerns associated with lead toxicity in traditional piezoelectric materials. The automation systems industry is a major consumer of piezoelectric components, driving market demand.

Piezoelectric transducers are essential in various applications, including sensors, actuators, and energy harvesting systems.

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The market is witnessing significant growth due to the increasing demand for piezoelectric materials in various end-use industries. The market is driven by the use of single crystals, textured ceramics, and advanced materials such as polyvinylidene fluoride (PVDF), PZT ceramic materials, potassium sodium bismuth, and quartz. Universities like the University of Leeds are conducting research on piezoelectric materials to improve their properties and reduce lead toxicity. The market is segmented into piezoelectric motors, piezoelectric composite, piezoelectric transducers, actuators, and automation systems. Major manufacturers are focusing on reducing operational costs and improving production processes to meet the increasing demand.

Moreover, the end-use industries such as healthcare, telecom, consumer goods, aerospace & defense, and telecommunication are the major consumers of piezoelectric materials. Raw material suppliers play a crucial role in the market by providing high-quality materials for the production of piezoelectric components. The market is expected to grow further with the development of new applications and advancements in technology. Piezoelectric materials find extensive use in various applications such as sensors, actuators, and transducers. The market is expected to grow at a steady pace due to the increasing demand for automation systems and the need for lightweight and efficient components in various industries.

In conclusion, the market is expected to witness significant growth in the coming years due to the increasing demand for piezoelectric materials in various end-use industries and the ongoing research and development activities in this field.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Product
  • Actuators and piezo generators
  • Sensors and transducers
  • Motor
  • Acoustic devices
  • Others
• Material
  • Ceramics
  • Polymers
  • Composites
  • Crystals
• Geography
  • APAC
    • China
    • Japan
    • South Korea
  • North America
    • US
  • Europe
    • Germany
  • Middle East and Africa
  • South America

By Product Insights

The actuators and piezo generators segment is estimated to witness significant growth during the forecast period. Piezoelectric actuators are electrical devices that convert electrical energy into mechanical motion through the piezoelectric effect. These actuators are gaining popularity due to their extensive applications and the increasing demand for precise motion control systems. In the realm of robotics, piezoelectric actuators play a significant role, particularly in robotic arms, fingers, and grippers, where they provide accurate and swift motion control. For instance, in healthcare, these actuators are utilized in surgical robots to enable surgeons to execute intricate procedures with minimal invasiveness, owing to their capacity to generate small displacements with high precision and responsiveness. Additionally, piezoelectric actuators find applications in various industries such as telecom, consumer goods, aerospace & defense, and telecommunication.

Moreover, the raw material suppliers of quartz, Rochelle salt, and tourmaline group minerals contribute to the production processes of these actuators. Overall, the piezoelectric actuator market is experiencing growth due to their unique properties and wide-ranging applications.

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The actuators and piezo generators segment was valued at USD 11.70 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Asia-Pacific (APAC) region is experiencing notable growth in the market due to the expanding application base in sectors such as electronics, automotive, and healthcare. Factors fueling this growth include a manufacturing sector, particularly in countries like China, Japan, South Korea, and Taiwan, which host numerous production facilities for electronics. Additionally, the increasing demand for advanced sensors and energy harvesting technologies is driving market expansion. In the automotive sector, China and India are witnessing substantial growth, particularly in the production of electronic components like motors. Recent advancements reveal substantial investments and collaborations aimed at expanding production capacities and localizing supply chains.

Moreover, the key industries utilizing piezoelectric materials include telecom, consumer goods, aerospace & defense, and telecommunication. Quartz, Rochelle salt, and tourmaline group minerals are primary raw materials in piezoelectric components. Actuators, which convert mechanical energy into electrical energy, are a significant application area. Overall, the APAC region's operational costs and production processes make it an attractive destination for the market growth.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Growing demand for energy-efficient solutions is the key driver of the market. The market is experiencing significant growth due to the increasing demand for energy-efficient solutions. This trend is driven by the growing awareness of the environmental impact of conventional energy sources and the need for sustainable alternatives. One of the key factors fueling this demand is the advancement of piezoelectric sensors, which convert mechanical energy into electrical energy. For instance, these sensors can be integrated into roads to harness electricity from the vibrations caused by vehicle traffic. This harvested energy can subsequently power streetlights and other infrastructure, thereby decreasing reliance on traditional energy sources. Piezoelectric materials, such as single crystals, textured ceramics, and piezoelectric composites made from PZT ceramic materials and polyvinylidene fluoride (PVDF), are extensively used in the production of piezoelectric motors, transducers, and automation systems.

Moreover, the major manufacturers, including those from the US, are investing in research and development to expand their product offerings and meet the rising demand for energy-efficient solutions. The University of Leeds and other research institutions are also contributing to the advancement of piezoelectric technology through their studies on lead-free piezoelectric materials, such as potassium sodium bismuth.

Market Trends

Growing use of piezoelectric nanomaterials in electronic devices is the upcoming trend in the market. The market is witnessing a notable expansion due to the integration of piezoelectric nanomaterials in advanced electronic devices. Piezoelectric nanomaterials, such as single crystals and textured ceramics, offer distinctive properties that make them indispensable for various applications. These materials possess the capability to transform mechanical energy into electrical energy and vice versa, which is crucial for generating electrical signals or detecting physical forces in electronic devices. For instance, in touchscreens, piezoelectric nanomaterials like Polyvinylidene fluoride (PVDF) and PZT ceramic materials convert the pressure exerted by a user into an electrical signal, enabling the device to interpret and respond accordingly.

Additionally, piezoelectric composites and piezoelectric transducers are extensively used in automation systems, contributing significantly to the market growth. Major manufacturers, including University of Leeds, are focusing on developing innovative piezoelectric solutions to cater to the increasing demand for energy harvesting and sensing applications.

Market Challenge

High cost and complexity in the manufacturing process is a key challenge affecting the market growth. The market encounters substantial challenges due to the intricate and costly manufacturing process of piezoelectric materials. Piezoelectric components, including single crystals and textured ceramics, necessitate the utilization of specific materials to generate electricity under mechanical pressure. These materials, such as potassium sodium bismuth and polyvinylidene fluoride (PVDF), are costly and scarcely available, thereby increasing the overall manufacturing expenses. Lead zirconate titanate (PZT), a prevalent piezoelectric ceramic material, is pricey due to its intricate fabrication process and restricted supply. The production of piezoelectric devices entails meticulous engineering and specialized machinery, further contributing to the manufacturing complexity and cost. However, the major manufacturers, including the University of Leeds, employ advanced techniques to create piezoelectric motors, composites, and transducers for various applications, such as automation systems.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Amphenol Corp: The company offers piezoelectric products through its subsidiary Piezo Technologies such as piezoelectric ceramics to the manufacturers of acoustic and ultrasonic transducers for non-destructive testing, medical aerospace, oil and gas.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• APC International Ltd.
• CEDRAT TECHNOLOGIES SA
• CeramTec GmbH
• CTS Corp.
• Dynamic Structures and Materials LLC
• HOERBIGER Holding AG
• Hutchinson SA
• Kistler Group
• Kyocera Corp.
• L3Harris Technologies Inc.
• Mad City Labs Inc.
• Micromechatronics Inc.
• Morgan Advanced Materials Plc
• Parker Hannifin Corp.
• Physik Instrumente GmbH and Co. KG
• Piezo Kinetics Inc.
• Piezomechanik Dr. Lutz Pickelmann GmbH
• Sparkler Ceramics Pvt. Ltd.
• TDK Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market encompasses a wide range of applications, including automation systems, healthcare, telecom, consumer goods, aerospace & defense, and more. The market is driven by the use of piezoelectric materials such as single crystals, textured ceramics, PZT ceramic materials, and polyvinylidene fluoride (PVDF). These materials are essential in the production of piezoelectric motors, transducers, actuators, and sensors. Major manufacturers in the market include universities and research institutions, utilizing raw materials like quartz, rochelle salt, tourmaline group minerals, barium titanate, potassium niobate, sodium tungstate, zinc oxide, and hybrid solar cells in the creation of piezoelectric composites. The competitive nature of the market is fueled by the demand for high-performance piezoelectric devices with superior response speed, force generation, and displacement accuracy.

Moreover, the applications in healthcare, such as cardiovascular diseases, orthopedic diseases, and dental diseases, require precise actuation and sensing capabilities. The energy industry and manufacturing output are significant contributors to the market's growth, with emerging economies and urbanization driving demand for piezoelectric sensors in flow control equipment, manufacturing inspection equipment, ink printing cartridges, and other applications. In the automotive sector, piezoelectric sensors are used in temperature, pressure, ultrasonic, touch, humidity, tilt, smoke, infrared, and parking sensors. The market's future growth is expected to be influenced by technological innovation and the integration of piezoelectric materials into manufacturing processes, embedded electronics, and other emerging technologies.

Further, the market's operational costs and production processes are influenced by factors such as raw material availability and prices, energy costs, and the competitive nature of the market. The use of piezoelectric materials in military applications, machinery, transportation, and telecommunication is also a significant market driver. Ultra-small-scale motion devices and sensors have gained popularity in recent years due to their high precision and low power consumption, making them suitable for various applications in urban areas and other industries. The market's future growth is expected to be influenced by the increasing demand for energy efficiency, resource conservation, and the elderly population's growing needs for healthcare and assistive devices.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across APAC, North America, Europe, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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