“Piezoelectric devices market is expected to grow at CAGR of 3.7% from 2020 to 2025”
The global piezoelectric devices market is estimated to grow from USD 28.9 billion in 2020 to USD 34.7 billion by 2025; at a CAGR of 3.7%. Increasing adoption of piezoelectric energy harvesting technology is one of the factors driving the growth of this market.
“Market for piezoelectric generators is expected to grow at highest CAGR during forecast period”
Among products, the market for piezoelectric generators is expected to grow at the highest CAGR during the forecast period. Piezoelectric generators are used in various portable medical devices that monitor blood sugar, medication, and vital signs. The increasing demand for these generators in consumer electronic devices is expected to accelerate the growth of the piezoelectric devices market in the near future.
“ Market for piezoelectric polymers is expected to grow at highest CAGR during forecast period”
Among materials, the market for piezoelectric polymers is expected to grow at the highest CAGR during the forecast period. The growth is attributed to their various features such as broad resonance bandwidth, low acoustic impedance, low fabrication cost, lightweight, fast processing; and their adoptions in healthcare applications.
“Aerospace & defense application accounted for largest market share in 2019”
The aerospace & defense application held the largest share of the piezoelectric devices market in 2019. This is attributed to the increasing adoption of piezoelectric-device based products such as sensors, actuators, and motors for aerospace & defense applications. Piezoelectric actuators are mainly being used in different parts of aircraft for damping undesirable vibrations. The reduction of sound levels in helicopters has drawn a lot of interest, however, the technology is also applied in planes, wind turbines, motors, machine tools, and laboratory tables.
“Europe to hold second-largest share of piezoelectric devices market during in 2025”
Europe is the second-largest market for piezoelectric devices, owing to the presence of lucrative automotive, healthcare, and industrial & manufacturing verticals in the region. Moreover, Europe is home to huge players in the piezoelectric devices market such as Physik Instrumente (PI) GmbH & Co. KG (Karlsruhe, Germany), CeramTec GmbH (Plochingen, Germany), and piezosystem jena GmbH (Jena, Germany). These players are considered as trendsetters in this market by developing innovative piezoelectric-based products and devices, which are used in multiple application areas.
Breakdown of profiles of primary participants:
- By Company: Tier 1 – 20%, Tier 2 – 35%, and Tier 3 – 45%
- By Designation: C Level – 40%, Managers – 24%, Others – 36%
- By Region: North America – 25%, Europe – 42%, APAC – 21%, RoW – 12%
Major players profiled in this report:
- L3HARRIS TECHNOLOGIES, INC.
- CeramTec GmbH
- CTS CORPORATION
- Physik Instrumente (PI) GmbH & Co. KG.
- APC International, Ltd.
- piezosystem jena GmbH
- Piezo Technologies
- Kistler Group
- Aerotech Inc
- Mad City Labs, Inc
This report offers detailed insights into the piezoelectric devices market based on material, product, application, and region. Based on material, the piezoelectric devices market has been segmented into piezoelectric-ceramics, crystals, polymers, and composites. Based on product, the market has been divided into piezoelectric-actuators, sensors, motors, transducers, generators, and others. Based on application, the piezoelectric devices market has been classified into aerospace & defense, industrial and manufacturing, automotive, healthcare, information and communication, consumer electronics, and others. The market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Reasons To Buy the report
The report is expected to help market leaders/new entrants in this market in the following ways:
- This report segments the piezoelectric devices market comprehensively and provides the closest approximations of the overall size of the market, as well as its segments and subsegments.
- The report is expected to help stakeholders understand the pulse of the market and provide them with information about key drivers, restraints, challenges, and opportunities.
- This report aims at helping stakeholders in obtaining an improved understanding of their competitors and gaining insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem of the market, as well as growth strategies such as product launches and developments, expansions, partnerships, collaborations, contracts, and mergers & acquisitions adopted by major market players.