Key Market Insights
Increase adoption of smart materials will spur the market revenue growth
The global piezoelectric devices market accounted for US$ 27.5 Bn in 2018 and is anticipated to grow to US$ 36.3 Bn growing at a CAGR of 3.5% throughout the forecast period from 2019 to 2027.
Increasing investments in research and development of piezo solutions by companies and research universities coupled with increasing application of piezoelectric devices in various end-use industry verticals such as healthcare, automotive and aerospace & defense among others are the major factors driving the growth of piezoelectric devices market. According to a recent report, expenditure on piezoelectric energy harvesting technology is expected to grow to US$ 145 Bn in 2018. The improvement in output and reliability of coupled with convergence of developments of associated technology is expected to spur the market growth. The piezoelectric sensing devices are in huge demand owing to its use at ultrahigh temperatures (>600° C) specifically in aerospace, automotive and energy industries. These devices offers benefits such as ensuring structural integrity, maintaining safety and low costs among others.
Additionally, increasing adoption of piezoelectric devices such as motors and actuators in healthcare sector for transdermal drug delivery, monitoring of endoscope & gastroscope devices, biomedical microtools including scissors, tweezers and drills among others to a microbot base using piezo motors are positively influencing the market growth. Piezo motors are also increasingly used in noninvasive surgery tools and microsurgery. Apart from this governments of various nations are taking initiatives to develop roads generating electricity by using piezoelectricity. For instance, in 2016, California has invested approximately US$ 2 Bn to study the effect of embedding piezoelectric crystals on road surfaces.
Product Analysis
Actuators segment to dominate the market during the forecast period.
Based on product, the piezoelectric devices market is classified into sensors (pin type, and lead type), actuators (stack actuators, tube actuators, stripe actuators, and shear actuators), motors (stick-slip, stepper, and ultrasonic), generators (Single-layer, and multilayer), transducers, and others segments. Actuators segment dominated the global piezoelectric devices market. This can be associated with the numerous benefits offered by actuators including faster response, low power consumption, high reliability, and compact size among others. Additionally, the increasing application of actuators in various industries such as automotive, and aerospace & defense among others are proliferating the market growth.
In contrast, generators segment is anticipated to grow with the highest CAGR during the forecast period. This is due to technological advancements including nanoscaling, miniaturization, and precision motion among others. Additionally, piezoelectric generators generate mechanical energy from its surrounding environments and converts it into electrical energy.
Regional Analysis
Rising foreign investments to bolster the growth in Asia Pacific region
In 2018, Asia Pacific region led the global piezoelectric devices market and accounted for a share of more than 30% of revenue generated globally. This can be attributed to, rising foreign investment in the region, growing population, increasing manufacturing sector and support from government to boost the manufacturing activities among others. The major growth is coming from China which accounted for an approximate share of 35% in the region.
In contrast, Europe region is anticipated to expand at a significant growth rate. Owing to the increasing investments on building energy generating roads and research & development activities for piezoelectricity. Apart from this the European countries are also deploying 5G telecommunication system, and increasingly adopting the piezoelectric devices for use in automotive, and healthcare sector among others.
List of Companies Covered:
Key Industry Development:
In February 2017, CeramTec GmbH announced the acquisition of UK based electro ceramic business from Morgan Advanced Materials. Through this acquisition the company is expected to penetrate deeper with new markets, new application areas and provide customers a wide array of products.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall piezoelectric devices market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
This product will be delivered within 2 business days.
Increase adoption of smart materials will spur the market revenue growth
The global piezoelectric devices market accounted for US$ 27.5 Bn in 2018 and is anticipated to grow to US$ 36.3 Bn growing at a CAGR of 3.5% throughout the forecast period from 2019 to 2027.
Increasing investments in research and development of piezo solutions by companies and research universities coupled with increasing application of piezoelectric devices in various end-use industry verticals such as healthcare, automotive and aerospace & defense among others are the major factors driving the growth of piezoelectric devices market. According to a recent report, expenditure on piezoelectric energy harvesting technology is expected to grow to US$ 145 Bn in 2018. The improvement in output and reliability of coupled with convergence of developments of associated technology is expected to spur the market growth. The piezoelectric sensing devices are in huge demand owing to its use at ultrahigh temperatures (>600° C) specifically in aerospace, automotive and energy industries. These devices offers benefits such as ensuring structural integrity, maintaining safety and low costs among others.
Additionally, increasing adoption of piezoelectric devices such as motors and actuators in healthcare sector for transdermal drug delivery, monitoring of endoscope & gastroscope devices, biomedical microtools including scissors, tweezers and drills among others to a microbot base using piezo motors are positively influencing the market growth. Piezo motors are also increasingly used in noninvasive surgery tools and microsurgery. Apart from this governments of various nations are taking initiatives to develop roads generating electricity by using piezoelectricity. For instance, in 2016, California has invested approximately US$ 2 Bn to study the effect of embedding piezoelectric crystals on road surfaces.
Product Analysis
Actuators segment to dominate the market during the forecast period.
Based on product, the piezoelectric devices market is classified into sensors (pin type, and lead type), actuators (stack actuators, tube actuators, stripe actuators, and shear actuators), motors (stick-slip, stepper, and ultrasonic), generators (Single-layer, and multilayer), transducers, and others segments. Actuators segment dominated the global piezoelectric devices market. This can be associated with the numerous benefits offered by actuators including faster response, low power consumption, high reliability, and compact size among others. Additionally, the increasing application of actuators in various industries such as automotive, and aerospace & defense among others are proliferating the market growth.
In contrast, generators segment is anticipated to grow with the highest CAGR during the forecast period. This is due to technological advancements including nanoscaling, miniaturization, and precision motion among others. Additionally, piezoelectric generators generate mechanical energy from its surrounding environments and converts it into electrical energy.
Regional Analysis
Rising foreign investments to bolster the growth in Asia Pacific region
In 2018, Asia Pacific region led the global piezoelectric devices market and accounted for a share of more than 30% of revenue generated globally. This can be attributed to, rising foreign investment in the region, growing population, increasing manufacturing sector and support from government to boost the manufacturing activities among others. The major growth is coming from China which accounted for an approximate share of 35% in the region.
In contrast, Europe region is anticipated to expand at a significant growth rate. Owing to the increasing investments on building energy generating roads and research & development activities for piezoelectricity. Apart from this the European countries are also deploying 5G telecommunication system, and increasingly adopting the piezoelectric devices for use in automotive, and healthcare sector among others.
List of Companies Covered:
- 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.
Key Industry Development:
In February 2017, CeramTec GmbH announced the acquisition of UK based electro ceramic business from Morgan Advanced Materials. Through this acquisition the company is expected to penetrate deeper with new markets, new application areas and provide customers a wide array of products.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall piezoelectric devices market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the piezoelectric devices market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2027
- Which segment accounts for the fastest CAGR during the forecast period?
- Which technology segment holds a larger market share and why?
- Are low and middle-income economies investing in the piezoelectric devices market?
- Which is largest regional market for piezoelectric devices?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
- Worldwide market value of the piezoelectric devices market in 2017 and 2018
- Which are the key trends driving the global piezoelectric devices market growth?
- Who are the leading service providers in the piezoelectric devices market worldwide?
This product will be delivered within 2 business days.
Table of Contents
1. Preface
2. Executive Summary
3. Market Dynamics
4. Global Piezoelectric Devices (PD) Market, by Product , 2017-2027 (US$ Bn)
5. Global Piezoelectric Devices (PD) Market, by Material, 2017-2027 (US$ Bn)
6. Global Piezoelectric Devices (PD) Market, by Application, 2017-2027 (US$ Bn)
7. North America Piezoelectric Devices (PD) Market Analysis, 2017-2027 (US$ Bn)
8. Europe Piezoelectric Devices (PD) Market Analysis, 2017-2027 (US$ Bn)
9. Asia Pacific Piezoelectric Devices (PD) Market Analysis, 2017-2027 (US$ Bn)
10. Rest of the World Piezoelectric Devices (PD) Market Analysis, 2017-2027 (US$ Bn)
11. Company Profiles
List of Figures
List of Tables
Companies Mentioned
- 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.
