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Global Piezoelectric Devices Market to reach USD 51.51 billion by the end of 2030

Global Piezoelectric Devices Market Size Study & Forecast, by Type (Disc, Plate, Ring), By Application (Sensors, Transducers, Motors, Actuators, Others), By Industry (Automotive, Healthcare, Aerospace & Defense, Consumer Electronics, Manufacturing, Others), and Regional Analysis, 2023-2030

Product Code: OIRIME-87980031
Publish Date: 10-03-2024
Page: 200

Global Piezoelectric Devices Market is valued approximately at USD 29.10 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.4% over the forecast period 2023-2030. Piezoelectric devices are specialized components that convert mechanical energy into electrical energy and vice versa. They leverage the piezoelectric effect, where certain materials generate an electric charge in response to mechanical stress or deformation. Conversely, applying an electric field to these materials induces mechanical deformation. Commonly used materials exhibiting piezoelectric properties include quartz, ceramics, and certain crystals. Piezoelectric devices find applications in various fields, such as sensors, actuators, and transducers. They are employed in diverse technologies, ranging from medical ultrasound devices and sensors in industrial applications to precise positioning systems and energy harvesting devices. The ability to efficiently convert between mechanical and electrical energy makes piezoelectric devices valuable in numerous technological advancements and applications. The rising trend of high machine efficiency and employee safety, soaring demand for piezoelectric devices from automobile manufacturers, and rise in adoption of piezoelectric products in aerospace industry are the key factors that are primarily contributing to the market growth across the globe.

In addition, the growing investments in renewable energy projects is a major factor that is stipulating the demand of piezoelectric devices in the global market. For instance, in June 2021, the Board of Executive Directors of the World Bank approved a financing package totaling USD 212 million, which includes a USD 177 million loan from the International Bank for Reconstruction and Development (IBRD), for a new initiative in Ukraine. This project aims to strengthen the Ukrainian power system, enabling synchronization with the European electricity grid and facilitating the decarbonization of the country’s power sector. Piezoelectric energy harvesting technologies can be integrated into smart grid systems to supplement traditional energy sources and enhance grid stability and reliability. By capturing energy from mechanical vibrations in infrastructure, such as bridges, roads, and buildings, piezoelectric devices can contribute to the decentralization and diversification of energy sources within the grid. Thus, these aforementioned factors are propelling the growth of Piezoelectric Devices Market during the estimated period. Moreover, the rising integration of piezoelectric technology in portable devices, as well as growing demand for piezoelectric materials in energy conservation & industrial sector present various lucrative opportunities over the forecast years. However, the development of alternative materials and lack of skilled labor are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Piezoelectric Devices Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the substantial investments in research and development by leading manufacturers of piezoelectric devices, growing emphasis on energy efficiency, coupled with the ongoing advancements in piezoelectric materials, manufacturing techniques, and sensor technologies. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rising demand for piezoelectric sensors and actuators across diverse applications, rise in advancements in materials science and microfabrication techniques, as well as emergence of Industrial IoT (IIoT) and smart manufacturing are significantly propelling the market demand across the region.

Major market players included in this report are:
Piezo System Jena (Germany)
Murata (Japan)
Morgan Advanced Materials (U.K.)
Mad City Labs, Inc. (U.S.)
Poliak A/S (Denmark)
CTS Corporation (U.S.)
Piezomechanik Dr. Lutz Pickelmann GmbH (Germany)
Physik Instrumente (Germany)
CeramTec (Germany)
APC International, Ltd. (U.S.)

Recent Developments in the Market:
Ø In February 2022, CTS Corporation- a global semiconductor manufacturer announced that the company has completed the acquisition of TEWA Temperature Sensors SP and its affiliated entities for a total sum of USD 24.5 million. Renowned for its superior ceramic technology, TEWA is widely recognized for developing high-quality temperature sensors renowned for their exceptional stability and reliability. This technological edge has been instrumental in driving TEWA’s substantial growth within the industry.
Ø In September 2020, STMicroelectronics, a leading semiconductor industry player known for its expertise in Micro-Electromechanical Systems (MEMS) technology, partnered with A-STAR’s IME and ULVAC to set up an 8-inch research and development line focusing on Piezo MEMS technology. This facility is likely to be located within ST’s Singapore manufacturing plant, which aims to drive innovation in MEMS technology.

Global Piezoelectric Devices Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Application, Industry, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

By Application:

By Industry:
Aerospace & Defense
Consumer Electronics
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Piezoelectric Devices Market, by region, 2020-2030 (USD Billion)
1.2.2. Piezoelectric Devices Market, by Type, 2020-2030 (USD Billion)
1.2.3. Piezoelectric Devices Market, by Application, 2020-2030 (USD Billion)
1.2.4. Piezoelectric Devices Market, by Industry, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Piezoelectric Devices Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Piezoelectric Devices Market Dynamics
3.1. Piezoelectric Devices Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing investment in renewable energy projects Rising demand for piezoelectric devices from automobile manufacturers
3.1.2. Market Challenges Development of alternative materials Lack of skilled labour
3.1.3. Market Opportunities Rising integration of piezoelectric technology in portable devices Growing demand for piezoelectric materials in energy conservation & industrial sector
Chapter 4. Global Piezoelectric Devices Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Piezoelectric Devices Market, by Type
5.1. Market Snapshot
5.2. Global Piezoelectric Devices Market by Type, Performance – Potential Analysis
5.3. Global Piezoelectric Devices Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Piezoelectric Devices Market, Sub Segment Analysis
5.4.1. Disc
5.4.2. Plate
5.4.3. Ring
Chapter 6. Global Piezoelectric Devices Market, by Application
6.1. Market Snapshot
6.2. Global Piezoelectric Devices Market by Application, Performance – Potential Analysis
6.3. Global Piezoelectric Devices Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Piezoelectric Devices Market, Sub Segment Analysis
6.4.1. Sensors
6.4.2. Transducers
6.4.3. Motors
6.4.4. Actuators
6.4.5. Others
Chapter 7. Global Piezoelectric Devices Market, by Industry
7.1. Market Snapshot
7.2. Global Piezoelectric Devices Market by Industry, Performance – Potential Analysis
7.3. Global Piezoelectric Devices Market Estimates & Forecasts by Industry 2020-2030 (USD Billion)
7.4. Piezoelectric Devices Market, Sub Segment Analysis
7.4.1. Automotive
7.4.2. Healthcare
7.4.3. Aerospace & Defense
7.4.4. Consumer Electronics
7.4.5. Manufacturing
7.4.6. Others
Chapter 8. Global Piezoelectric Devices Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Piezoelectric Devices Market, Regional Market Snapshot
8.4. North America Piezoelectric Devices Market
8.4.1. U.S. Piezoelectric Devices Market Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Industry breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Piezoelectric Devices Market
8.5. Europe Piezoelectric Devices Market Snapshot
8.5.1. U.K. Piezoelectric Devices Market
8.5.2. Germany Piezoelectric Devices Market
8.5.3. France Piezoelectric Devices Market
8.5.4. Spain Piezoelectric Devices Market
8.5.5. Italy Piezoelectric Devices Market
8.5.6. Rest of Europe Piezoelectric Devices Market
8.6. Asia-Pacific Piezoelectric Devices Market Snapshot
8.6.1. China Piezoelectric Devices Market
8.6.2. India Piezoelectric Devices Market
8.6.3. Japan Piezoelectric Devices Market
8.6.4. Australia Piezoelectric Devices Market
8.6.5. South Korea Piezoelectric Devices Market
8.6.6. Rest of Asia Pacific Piezoelectric Devices Market
8.7. Latin America Piezoelectric Devices Market Snapshot
8.7.1. Brazil Piezoelectric Devices Market
8.7.2. Mexico Piezoelectric Devices Market
8.8. Middle East & Africa Piezoelectric Devices Market
8.8.1. Saudi Arabia Piezoelectric Devices Market
8.8.2. South Africa Piezoelectric Devices Market
8.8.3. Rest of Middle East & Africa Piezoelectric Devices Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Piezo System Jena (Germany) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Murata (Japan)
9.3.3. Morgan Advanced Materials (U.K.)
9.3.4. Mad City Labs, Inc. (U.S.)
9.3.5. Poliak A/S (Denmark)
9.3.6. CTS Corporation (U.S.)
9.3.7. Piezomechanik Dr. Lutz Pickelmann GmbH (Germany)
9.3.8. Physik Instrumente (Germany)
9.3.9. CeramTec (Germany)
9.3.10. APC International, Ltd. (U.S.)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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