Ultrasonic Transducer Market - Forecasts from 2023 to 2028

The ultrasonic transducer market is expected to grow at a CAGR of 8.86% during the forecast period

An ultrasonic transducer is a device that converts electrical energy into ultrasonic sound waves and vice versa, and it consists of a piezoelectric crystal or a ceramic element that can generate and detect high-frequency sound waves beyond the range of human hearing, typically above 20 kHz. Ultrasonic transducer can be a linear, standard, or phased array type, and is used in industrial, automotive, and medical applications due to its ability to generate and detect high-frequency sound waves. The increasing medical device and automotive production are driving the market growth of ultrasonic transducers.

The growing usage of ultrasound is expected to boost the ultrasonic transducer market growth

Ultrasonic transducers play a crucial role in medical imaging technologies such as ultrasound, which is widely used for diagnostic purposes. The non-invasive nature of ultrasound imaging, along with its ability to provide real-time, high-resolution images of internal organs, blood flow, and tissues, has made it an indispensable tool in healthcare. Ultrasonic transducers enable healthcare professionals to visualize and assess various medical conditions, such as fetal development, cardiovascular disorders, tumours, and musculoskeletal abnormalities. The ability to obtain real-time images and gather dynamic information assists in making timely and accurate diagnoses, leading to improved treatment outcomes. The growing usage and production of medical devices will boost the demand for ultrasonic transducers.  According to US Food & Drug Administration (FDA) in 2020, ultrasound is the most widely used medical imaging method for viewing the fetus during pregnancy. In 2020, according to the Journal of the American Medical Association (JAMA), 3% to 5% of births in the US are born with structural flaws, which increase infant morbidity, and mortality. This illustrates that ultrasonic transducer has a great demand in the future.

The surge in the automotive production market will accelerate the market growth

The automotive industry heavily relies on ultrasonic technology for various applications, which drives the need for ultrasonic transducers. One prominent use of ultrasonic transducers in automobiles is in parking assist systems where the systems utilize ultrasonic waves to detect obstacles and provide proximity alerts to drivers, enhancing safety and convenience. Ultrasonic transducers are also utilized in automotive manufacturing processes for quality control as they help assess the integrity of welds, detect flaws in components, and ensure precise measurements during assembly operations. The demand for ultrasonic transducers is expected to grow with the increasing automotive production and innovation. According to the International Organization of Motor Vehicle Manufacturers (OICA) in 2022, the global production of passenger cars increased from 57.05 million in 2021 to 61.59 million in 2022. According to the Society of Indian Automobile Manufacturers (SIAM) in 2022, the production of commercial vehicles in India increased from 0.85 million in 2021 to 1.35 million in 2022.

During the forecast period, the North American region is expected to hold a significant market share

The North American region will account for a major market share due to the robust and mature healthcare industry in the region coupled with the growing demand for medical imaging and diagnostics devices. Also, various government initiatives to provide financial assistance to the major end-users to recover from the losses incurred during COVID are acting as an additional driving factor. For instance, in November 2021, the Karl Heusner Memorial Hospital, WHO Belize, and the Government of Canada jointly donated two portable ultrasound equipment to improve the ability to treat COVID-19 patients. In 2020, the U.S. government introduced stimulus packages to provide financial assistance to businesses, including those in the automotive sector. Such an initiative was implemented in response to meeting the economic challenges posed by the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed in March 2020, provided loans, grants, and other forms of relief to support automotive manufacturers, suppliers, and dealerships. Such favourable initiatives will positively impact the demand for ultrasonic transducers, thereby fostering regional market growth.

Key Developments

• July 2022: PI Ceramic introduced a "Piezoelectric ultrasonic transducer" that can transmit and detect soundwaves up to very high frequencies in the Megahertz range, and can be used for therapeutics, tumours removal, imaging, and also for blood flow monitoring.
• February 2021: Audiowell launched an open-type ultrasonic transducer with Q8 class which is 8 mm in size, and is suitable for directional sound production, distance measurement, and other applications.

Segmentation

By Type

• Linear
• Standard
• Phased Array

By End-User

• Industrial
• Medical
• Automotive
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• UK
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Other