Piezoelectric devices are made using quartz, topaz, tourmaline, and Rochelle salt and charge their devices under mechanical stress. The materials are used in sensors and actuators to precisely react to changes and highly useful in industrial and consumer applications. Market Research Future’s report on the global piezoelectric devices market focuses on prospects of these devices over the forecast period (2017-2022). The COVID-19 impact on the industry is also analyzed with focus on production and value chains.
The global Piezoelectric Devices Market Share is expected to expand over the forecast period owing to investments in R&D, applications in aerospace & defense, consumer goods, and others. Advantages of easy installation within high-density electronic devices, responsive to high frequencies, and non-requirement of external source of power for functionality can drive market demand. Innovations in vibration energy harvesting, nano-scaling, and miniaturization of devices can bolster the market growth. The ability to harvest energy from surrounding environment has led to its integration in laptops, notebooks, smartwatches, and smartphones.
The COVID-19 impact on the piezoelectric devices market has been huge owing to shutdown of electronic device manufacturers and issues in supply and logistics chain. Geopolitical tensions between countries and trade policies can hamper the market growth. But the reopening of economies and industrial facilities can relieve the market.
But their limitations of small electrical charges and inability to maintain output during bouts of temperature fluctuations can hamper the market growth.
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By product, the piezoelectric devices market is segmented into stack actuators, piezoelectric transducers, multilayered piezoelectric generators, piezoelectric sensors, single-layer piezoelectric generators, strip actuators, piezoelectric generators, piezoelectric motors, piezoelectric actuators, and others. The piezoelectric actuators segment is expected to generate a strong revenue growth owing to their rotational speed and efficiency.
By material, it is segmented into hard ceramics, piezoelectric polymers, piezoelectric ceramics, piezoelectric composites, piezoelectric crystals, and soft ceramics. Piezoelectrci polymers are likely to exhibit a strong growth rate over the forecast period. This is attributed to the rise of polyvinylidene fluoride (PVDF) as a polymer material in transducers and pressure-based sensors.
By application, it is segmented into industrial & manufacturing, electronic devices, wearable devices, healthcare, consumer electronics, diagnostic equipment, aerospace & defense, imaging devices, automotive, surgical tools, information & communication, and others. The aerospace & defense application is projected to be the lucrative application for the piezoelectric devices market. This is attributed to launch of new aircraft by GE Aerospace, Boeing, and others. On the other hand, the automotive sector is likely to induce a strong demand for piezoelectric devices owing to investments by automotive manufacturers such as Ford and Volkswagen.
Europe, North America, Asia-Pacific (APAC), and Rest-of-the-World (RoW) are major regions covered in the piezoelectric devices market.
APAC is expected to be the dominant contributor of the market owing to presence of various electronic manufacturers and investments in modernization of infrastructure and processes. China, Japan, Taiwan, and South Korea are prime locations for the market owing to favorable government regulations, production-linked incentives, and a large workforce. Production of drugs and supportive policies in the domestic healthcare sector can facilitate regional market growth.
Europe is estimated to occupy the second position in the piezoelectric devices market owing to increased defense budget of nations and extended contracts for use of piezoelectric materials. The European Commission has submitted a report on the IMMEDIATE program for development of lead-free piezoelectric crystals in ultrasound medical equipment.
PI, CeramTec, Mad City Labs, Inc., Noliac A/S, Piezosystem Jena, Morgan Advanced Materials, APC International, Ltd., Piezomechanik Dr. Lutz Pickelmann GmbH, Piezo Systems, Inc., and others are key players in the global piezoelectric devices market. Collaborations and partnerships are main strategies utilized by these players to gain the competitive edge.
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