Piezoelectric Devices Market Will Reach USD 48.5 Billion by 2030, Says P&S Intelligence

NEW YORK, April 25, 2023 /PRNewswire/ -- The piezoelectric devices market is projected to be worth USD 48.5 billion by 2030, growing at a CAGR of 5.80%, according to P&S Intelligence.

This development can be credited to the growing utilization of such instruments in the aviation, electronics, automotive, defense, and manufacturing industries for power harvesting. Furthermore, in India, roughly 74% of the individuals are open to the idea of fitting piezoelectric tiles in their houses.

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As over 84% of the individuals walk often, the power produced by their footsteps can be transformed into electricity through piezoelectric tiles. A tile measuring 17.1 inches x 23.6 inches can produce an average of 7 Watts with every step.

Sensor Sales Are projected To Grow at Substantial Pace

In the coming few years, the sensors category is projected to surge at a significant rate. The demand for piezoelectric sensors is on the rise in several industries, such as electronics, autonomous vehicles, and manufacturing, to sense the tiniest of changes in power, which they change to electricity.

Utilization of Power Harvesting Systems Is Growing 

Power harvesting is a procedure through which the energy gathered from external sources, including the wind, UV rays, and heat, is straightaway transformed into electricity and relayed to a variety of equipment. Furthermore, for later utilization, the power can be stored in batteries or ultracapacitors.

For example, piezoelectric generators enable the change of the power contained in vibrations to functioning electrical energy. The main benefit of piezoelectric power harvesters is the incorporation of and reduction in the size of MEMS, which is why they are used to energize IoT and low-energy wireless sensor systems.

Product Demand in Aerospace and Defense Industry Rising Significantly

The aerospace and defense category is set to experience a substantial growth rate, credited to the widespread utilization of piezoelectric actuators to reduce vibrations, in turn, decreasing noise and power wastage and making aircraft fuel-efficient.

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In recent years, the reduction of the noise of helicopters has grown significantly in focus. The aerospace sector is also embracing electromechanical systems containing piezoelectric devices to make a compact system with a quick response and a high energy density.

Europe Is Projected To Rapidly Accept Piezoelectric Technology 

The industry in Europe is set to experience growth at a significant rate, credited to the existence of a huge count of medical device, automotive, and industrial manufacturing businesses in the continent.

Moreover, numerous companies, including CeramTec GmbH, piezosystem jena GmbH, and Physik Instrumente (PI) GmbH & Co. KG., provide items leveraging the piezoelectric effect for several applications.

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SOURCE P&S Intelligence