Piezoelectric Devices Market Size, Share & Trends Analysis Report By Product (Piezoelectric Sensors, Piezoelectric Actuators, Piezoelectric Motors, Piezoelectric Generators, Piezoelectric Transducers, Piezoelectric Transformers, Piezoelectric Resonators), By Material (Piezoelectric Crystals, Piezoelectric Ceramics, Piezoelectric Polymers, Piezoelectric Composites), By Applications (Aerospace and Defense, Industrial and Manufacturing, Automotive, Healthcare, Information and Communication, Consumer Electronics, Power Generation, Musical Instruments), By Element (Piezoelectric Discs, Piezoelectric Rings, Piezoelectric Plates), By Operation Modes of Piezoelectric Devices (Direct Piezoelectric Effect, Converse Piezoelectric Effect) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Piezoelectric Devices Market Size

The global piezoelectric devices market size was valued at USD 32.27 billion in 2023. It is projected to reach from USD 34.41 billion in 2024 to USD 57.45 billion by 2032, growing at a CAGR of 6.62% during the forecast period (2024–2032).

Piezoelectric devices harness the piezoelectric effect, a phenomenon where specific materials, like quartz and ceramics, generate an electric charge when subjected to mechanical stress. This effect enables the seamless conversion of mechanical energy into electrical energy and vice versa, making these materials invaluable across a range of applications. In the medical field, piezoelectric devices are used in ultrasound imaging, precision sensors, and surgical tools. In industrial and manufacturing sectors, they play a crucial role in automation, precision actuators, and vibration control. Moreover, piezoelectric materials are integral to advancements in automotive systems, consumer electronics, and energy harvesting technologies.

Several factors are driving the growth of the market. The increasing demand for energy-efficient solutions, especially in industries like automation and healthcare, is a significant factor. The rise of smart technologies and IoT applications, which require precise sensors and actuators, further propels the adoption of piezoelectric devices. Additionally, the push for miniaturization and enhanced performance in electronic devices amplifies the need for innovative piezoelectric materials, as they offer both reliability and high sensitivity. These trends, combined with advancements in material science, continue to expand the scope of piezoelectric applications globally.

Piezoelectric Devices Market Trends

Increasing Adoption in Consumer Electronics

The global market is witnessing significant growth due to the rising adoption of these devices in consumer electronics. Piezoelectric sensors and actuators are increasingly being integrated into various applications like accelerometers for motion detection, pressure sensors for touchscreens in fitness trackers, and ultrasonic sensors for distance measurement or object detection. This trend is driven by the demand for more interactive, immersive experiences and the need for energy-efficient solutions in modern electronics.

• For example, Apple’s iPhones use piezoelectric sensors not only to detect touch inputs but also to deliver precise haptic feedback, enhancing the user experience with tactile responses. Similarly, Samsung integrates piezoelectric components in its smartwatches and fitness trackers to measure pressure and movement, providing accurate data for health monitoring and activity tracking. Sony also employs piezoelectric actuators in its gaming controllers to offer users a more immersive experience through real-time haptic feedback during gameplay.

As consumer demand for advanced, energy-saving electronics continues to rise, the use of piezoelectric devices in this sector is expected to expand further, particularly in the development of next-generation wearables, smartphones, and gaming peripherals.

Piezoelectric Devices Market Growth Factors

High Adoption Rate of Piezoelectric Products in the Aerospace Industry

The aerospace industry drives significant growth in the global market due to its demand for advanced solutions that enhance efficiency, durability, and performance. Piezoelectric products, such as actuators and sensors, are critical in this sector, which encompasses commercial aircraft, space vehicles, satellites, and other advanced machinery. These devices play a crucial role in active vibration damping, improving the stability and operational efficiency of aircraft by minimizing undesirable vibrations, reducing noise levels, and lowering fuel consumption.

• For instance, on March 11, 2024, a study published in The International Journal of Mechanical System Dynamics by the Nanjing University of Aeronautics and Astronautics and international collaborators introduced a groundbreaking bidirectional energy-controlled piezoelectric shunt damping technology. This innovative technology promises to revolutionize vibration control in aerospace applications, showcasing the sector's ongoing pursuit of cutting-edge solutions to enhance performance and operational efficiency.

Restraining Factors

High Costs of Piezoelectric Materials

One significant restraint in the global market is the high cost of piezoelectric materials. The production of advanced piezoelectric materials, such as single crystals and textured ceramics, involves complex processes like the templated grain growth (TGG) method. This process requires precise alignment of template particles, which must be anisometric and single-crystal in nature.

These particles serve as nucleation sites for crystal growth, ensuring the material's high performance. However, the need for chemically stable, high-purity template particles that can withstand high temperatures adds to the overall cost.

• For instance, a single piece of piezoelectric crystal like Lithium Niobate (LiNbO3) can cost up to USD 100. This high price is driven by the specialized production techniques and raw material requirements. Consequently, the elevated costs of piezoelectric materials pose a significant barrier to market growth, impacting the affordability and accessibility of piezoelectric devices.

Market Opportunities

Innovations and New Product Development

The global market is set to benefit from ongoing innovations and new product developments. Key advancements in material science, nanotechnology, and manufacturing processes are driving this growth, making piezoelectric devices more effective and cost-efficient. For example, researchers are exploring new materials and production techniques to enhance device performance while reducing costs.

Recent innovations include highly sensitive wearable blood pressure sensors utilizing piezoelectric technology, which offer greater precision and convenience for health monitoring. Moreover, the commercialization of lead-free piezoelectric devices represents a significant step forward, as these alternatives are environmentally friendly and safer for human health.

A notable instance is the breakthrough by a research team led by Professor Keon Jae Lee at KAIST in collaboration with the College of Medicine at the Catholic University of Korea. In April 2023, they developed a highly sensitive wearable blood pressure sensor that leverages advanced piezoelectric technology, demonstrating the potential for transformative applications in personal health monitoring.

Regional Insights

Asia-Pacific: Dominant region with 51.51% market share

The Asia-Pacific region is the dominant player in the global market, holding a substantial 51.51% market share in 2023, up from 42.1% in 2022. This significant growth is driven by increased adoption of piezoelectric devices across various sectors, including healthcare, automotive, and energy harvesting. The region’s expansion is supported by strong government initiatives and ongoing industrial development.

Key trends shaping the Asia-Pacific piezoelectric devices market include:

• China: A major growth driver due to its robust manufacturing sector and expanding technology industry. China's emphasis on advancing electronics and automotive technologies has increased the demand for piezoelectric sensors and actuators. For example, Chinese companies like BYD are integrating piezoelectric components into their electric vehicles to enhance performance and reliability.
• Taiwan: An emerging hub for semiconductor production, Taiwan heavily relies on piezoelectric components for precision manufacturing. This demand is evident in companies like TSMC, which uses piezoelectric materials in its advanced semiconductor fabrication processes, supporting market growth.
• South Korea: Known for its leadership in electronics and robotics, South Korea’s adoption of automation and medical devices drives the demand for piezoelectric technologies. The government’s support for innovation is exemplified by companies like Samsung and LG, which integrate piezoelectric sensors into their consumer electronics and smart appliances.
• Japan: Japan’s commitment to innovation and advanced technologies sees piezoelectric devices used in cutting-edge fields such as healthcare and aerospace. For instance, Japanese firm Canon employs piezoelectric technology in high-precision imaging equipment, demonstrating the region’s role in pushing the boundaries of technological applications.

The Asia-Pacific region’s dynamic growth is expected to continue, driven by these trends and the region’s strategic investments in technology and infrastructure.

North America: Fastest growing region with the highest CAGR

North America holds a significant 35% of the global market share in 2023, a notable increase from 24% in 2022. This growth is fueled by the region's strong performance in key sectors such as healthcare, automotive, and industrial automation. In healthcare, advanced piezoelectric sensors are increasingly used in medical devices and diagnostics. For instance, companies like Medtronic and Abbott are incorporating piezoelectric technology into their monitoring systems to enhance precision and patient outcomes.

The automotive sector also contributes significantly to North America's market growth. Leading automotive manufacturers, such as General Motors and Ford, use piezoelectric sensors for engine management and safety systems, improving vehicle performance and reliability.

Key trends shaping the North American piezoelectric devices power market include:

• Companies like Medtronic and Boston Scientific are using piezoelectric sensors for the improvement of ultrasound imaging and wearable health tracking.
• Major automakers such as Magna International and Linamar are adopting piezoelectric actuators to enhance fuel efficiency and control emissions in compliance with stricter environmental regulations.
• Automation leaders like Honeywell and Rockwell Automation are utilizing piezoelectric components in precision control systems and robotics.
• Countries like the US and Canada are growing due to cutting-edge surgical equipment and medical technologies with the use of piezoelectric devices.

Piezoelectric Devices Market Segmentation Analysis

By Product

The global market is classified into piezoelectric sensors, piezoelectric actuators, piezoelectric motors, piezoelectric generators, piezoelectric transducers, piezoelectric transformers, and piezoelectric resonators. Piezoelectric sensors lead the global market due to their extensive use across various industries. Their ability to detect minute changes in energy and convert them into electrical signals makes them crucial for precise measurement applications. These sensors are integral in autonomous vehicles, manufacturing, and electronics, where they function as accelerometers, pressure sensors, and ultrasonic sensors. Their precision and reliability drive their dominance in the market, supporting advancements in technology and applications that demand accurate and responsive data.

By Material

Piezoelectric composites dominate the material segment, capturing approximately 32% of the market share in 2023. Their popularity stems from their superior characteristics, combining the benefits of both piezoelectric ceramics and polymers. These composites offer high coupling coefficients, low acoustic impedance, and exceptional mechanical durability, making them ideal for various applications. They are widely used in healthcare, aerospace, and automotive industries, enhancing performance and adaptability in demanding environments.

By Application

The healthcare sector leads the application segment of the global market. Piezoelectric composites are crucial in advanced ultrasound imaging systems, utilized by major companies like Siemens Healthineers and GE Healthcare. Their ability to provide high-resolution imaging supports diagnostic and therapeutic procedures. The sector's growth is driven by ongoing advancements in medical technology and increasing demand for precise, non-invasive diagnostic tools.

By Element

Piezoelectric discs dominate the element segment due to their small, thin, and lightweight design, which ensures low power consumption. Their efficiency in producing sound from small electronic circuits, along with high frequency and transient response capabilities, makes them ideal for sensors, actuators, and transducers. These discs are particularly valued in harsh environments for their durability and compact form factor, contributing to their significant market share.

By Operation

The direct piezoelectric effect is widely employed in sensors, transducers, and energy harvesting devices, converting mechanical energy into electrical energy. This effect is fundamental in piezoelectric sensors used for detecting pressure, acceleration, strain, or force, and converting these changes into electrical signals. Its application spans the healthcare, automotive, and industrial sectors, where precise measurement and data conversion are critical.

Recent Developments

• January 2024- A strategic alliance was formed between A. M. Fitzgerald & Associates (AMFitzgerald) and Sumitomo Precision Products (SPP) to improve the availability of high-quality thin-film piezoelectric (PZT) technology for microelectromechanical systems (MEMS) developers. This partnership aims to enhance the integration of advanced PZT materials in MEMS applications, offering developers better access to cutting-edge technology for their innovations.
• August 2024- A recent study published a groundbreaking technique for the deposition and repoling of relaxor-PbTiO? piezoelectric single crystals at room temperature. This method eliminates the need for high-temperature treatments that can potentially damage the materials, thereby simplifying the manufacturing process and improving the reliability of piezoelectric components.

Analyst Opinion

As per our analysts, the piezoelectric devices market is expected to maintain its growth trajectory, driven by the expanding range of applications across various sectors. The increasing use of piezoelectric devices in mobile phones, healthcare devices, consumer electronics, and industrial automation highlights their growing significance. Emerging applications in energy harvesting, coupled with advancements in composite materials and piezoelectric polymers, further bolster market prospects.

Additionally, the demand for high-precision micro-positioning devices and the promising applications in medical technology are key factors contributing to the market's growth. However, analysts caution that the market may experience a slowdown in growth due to the rising adoption of alternative materials that could potentially compete with piezoelectric technologies.