Global Piezoelectric Devices Market Report 2022: Rising Adoption in Biomedical and Surgical Applications Presents Opportunities
DUBLIN, Nov. 14, 2022 /PRNewswire/ -- The "Global Piezoelectric Devices Market by Material (Piezoelectric Ceramics, Polymers), Product (Piezoelectric Actuators, Transducers, Motors), Application (Aerospace & Defense, Industrial, Consumer) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The piezoelectric devices market is projected to grow from USD 30.8 billion in 2022 and is projected to reach USD 41.0 billion by 2027; it is expected to grow at a CAGR of 5.9% from 2022 to 2027.
Rising adoption of high-performance piezoelectric products in the aerospace industry, increased use of piezoelectric devices for energy harvesting, increasing investments in renewable energy projects are among factors that contribute to the growth of the piezoelectric devices market.
However, high costs associated with piezoelectric materials is a prominent factor limiting the growth of the piezoelectric devices market.
Market for piezoelectric transducers to hold second-largest share during the forecast period
The piezoelectric devices market for transducers held the largest market share in 2021 and is expected to retain its second-largest position throughout the forecast period. Piezoelectric transducers offer advantages, such as greater reliability, robust design, compact size, low energy consumption, no requirement for external force, high-frequency response, active signal-producing components, ease of use, and remaining functional even in high temperatures. Piezoelectric transducers are used by numerous end-user industries, including industrial, environmental, and personal applications. Thus, the piezoelectric transducers would contribute considerably to the market.
Market for piezoelectric ceramics segment is expected to hold the largest share during the forecast period
Piezoelectric ceramics dominated the piezoelectric devices market in 2021, and a similar trend is likely to be observed during the forecast period. This can be majorly attributed to the increasing demand for ceramic-based lead zirconate titanate (PZT) because of its ability to exhibit significant displacement and induce a high voltage, thereby creating a significant demand in the near future. Both direct and converse piezoelectric effects are prominent when piezoelectric ceramics are used. Piezoelectric ceramics consist of high piezoelectric sensitivity and can acquire various shapes. Lead zirconate titanate (PZT) is among the most widely used piezoelectric ceramic materials.
Market for healthcare application segment to witness the highest growth during the forecast period
The healthcare application is expected to record the highest CAGR in the piezoelectric devices market during the forecast period. Piezoelectric devices are widely used in the healthcare sector in imaging, diagnostic, and surgical applications. High-performance piezoelectric ceramics, such as lead zirconate titanate (PZT), lead meta niobate, and modified lead titanates, are extensively used in medical ultrasonic transducers for high-intensity focused ultrasound imaging purposes, dental scaling, and ultrasonic surgeries. Medical device manufacturers are aware of the benefits of integrating piezoelectric components and materials into life-saving medical devices such as respirators, ventilators, and atomization systems.
Europe to hold a significant share of the piezoelectric devices market during the forecast period
Europe is expected to hold a significantly large share for piezoelectric devices market during the forecast period. Europe is the second-largest market for piezoelectric devices owing to the thriving sectors such as automotive, healthcare, and industrial and manufacturing in the region. The sizable market share of the European region can be attributed to population growth, increased foreign investment, increased government investment, mass manufacturing facilities for electronic components as well as automobiles, presence of several manufacturers and technological advancements. Countries like Germany and Italy are the major contributors to the region.
Market Dynamics
Drivers
- High Adoption of Piezoelectric Products in Aerospace Industry
- Elevated Use of Piezoelectric Energy Harvesters
- Accelerated Demand for Piezoelectric Devices from Automotive Manufacturers
- Increased Investments in Renewable Energy Projects
Restraints
- High Costs Associated with Piezoelectric Materials
- Limitations of Piezoelectric Ceramics
- Stringent Government Policies Restricting Use of Lead-Based Piezoelectric Materials
Opportunities
- Growing Use of Piezoelectric Nanomaterials in Electronic Devices
- Rising Adoption of Piezoelectric Devices and Polymers in Biomedical and Surgical Applications
- Increasing Demand for Polymer-Based Piezoelectric Sensors and Films in Aerospace, Nuclear Instrumentation, and Consumer Electronics Applications
- Surging Deployment of Piezoelectric Sensors and Polymers in Healthcare Devices
Challenges
- Developing Alternative Materials to PZT Ceramic Materials Having Similar Properties
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Piezoelectric Devices Market, by Product
7 Piezoelectric Devices Market, by Material
8 Piezoelectric Devices Market, by Application
9 Piezoelectric Devices Market, by Piezoelectric Element
10 Operation Modes of Piezoelectric Devices
11 Piezoelectric Devices Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Appendix
Companies Mentioned
- Aerotech Inc.
- APC International, Ltd.
- Ceramtec GmbH
- Cts Corporation
- Dytran Instruments Incorporated
- Elpa
- Hong Kong Piezo Co. Ltd.
- Johnson Matthey Piezo Products GmbH
- Kinetic Ceramics
- Kistler Group
- Mad City Labs, Inc.
- Mide Technology Corp.
- Noliac A/S
- Omega Piezo Technologies, Inc.
- Pcb Piezotronics, Inc.
- Physik Instrumente (Pi) GmbH & Co. Kg.
- Pi Ceramic
- Piezo Solutions
- Piezo Technologies
- Piezomechanik Dr. Lutz Pickelmann GmbH
- Piezomotor
- Piezosystem Jena GmbH
- Piezotech Arkema
- Solvay
- Sparkler Ceramics
- Te Connectivity Ltd.
- TRS Technologies
For more information about this report visit https://www.researchandmarkets.com/r/mupxps
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
Share this article