Piezoelectric Devices Market by Material (Piezoelectric Ceramics, Polymers), Product (Piezoelectric Actuators, Transducers, Motors), Application (Aerospace & Defense, Industrial, Consumer) and Region – Global Forecast to 2027
The piezoelectric devices market is projected to grow from USD 30.8 billion in 2022 to reach USD 41.0 billion by 2027; it is expected to grow at a CAGR of 5.9 % from 2022 to 2027.
.High adoption of piezoelectric products in aerospace industry, elevated use of piezoelectric energy harvesters, and accelerated demand for piezoelectric devices from automotive manufacturers are among factors that contribute to the growth of the piezoelectric devices market.
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Piezoelectric generators are expected to exhibit the highest CAGR in the piezoelectric devices market during the forecast period. With several technological developments, such as miniaturization, nano-scaling (e.g., nanogenerators), precision motion, and vibration energy harvesting, piezoelectric generators are witnessing high demand. Piezoelectric generators can be designed in different sizes and miniaturized to fit them into micro-electro-mechanical systems (MEMS).
Market for piezoelectric polymers to grow at the highest CAGR during the forecast period.
The polymers segment is projected to hold a major share of the global piezoelectric materials market during the forecast period. It is also expected to record the highest CAGR during the forecast period. Polyvinylidene fluoride (PVDF) and pure thermoplastic fluoropolymers are preferred materials among piezoelectric materials) owing to its low cost, highly non-reactive properties, pressure super-sensitivity, and compliance with government regulations such as hazardous substance restriction for materials mandates under the Reduction of Hazardous Substances (RoHS) directive.
PVDF is a specialty plastic material used in aerospace, defense, chemical, and electronics applications.
Piezoelectric properties of PVDF are useful in manufacturing tactile sensor arrays. These PVDF active sensors help monitor the structural health, measure vibrations, and generate electricity. In the healthcare sector, piezoelectric polymers are used in creating artificial sensitive skin; in the sports sector, these are used in display panels deployed on sports grounds and tennis courts.
PresentsAerospace and defense application to hold the largest share of the piezoelectric devices market during the forecast period.
The aerospace and defense application held the largest share of the piezoelectric devices market in 2021, and a similar trend is likely to be observed during the forecast period. Piezoelectric actuators are deployed in the aerospace industry for the purpose of active vibration damping in mechanical structures wherein vibrations are not desirable.
Vibration damping can be conducted to reduce noise, fuel consumption, and energy waste. Recently, the reduction of sound levels in helicopter structures has gained significance; however, the technology can be applied to other areas, such as planes, wind turbines, motors, machine tools and laboratory tables (especially optical). Mechanical vibration reduction technology can be applied to automotive and aerospace applications, including airplanes, helicopters, automobiles, wind turbines, engines, and machine tools. Furthermore, lightweight piezoelectric motors are used for the toughest positioning application in the aerospace & defense industry. Thus, the rising adoption of various piezoelectric devices by aerospace and defense companies fuels the growth of the piezoelectric devices market.
Key players in the piezoelectric devices market include CeramTec GmbH (Germany); CTS Corporation (US); Kistler Group (Switzerland); Physik Instrumente (PI) GmbH & Co. KG. (Germany); piezosystem jena GmbH (Germany); Piezo Technologies (US); Noliac A/S (Denmark); Aerotech Inc. (US); APC International, Ltd., (US); Mad City Labs, Inc. (US) are among the leading companies in the piezoelectric devices market. Apart from these, Kinetic Ceramics (US), Johnson Matthey Piezo Products GmbH (Germany), PI Ceramic (Germany), Piezo Solutions (US),