Piezoelectric Devices Global Market Report 2024

The growth in the historic period can be attributed to the increasing demand for piezoelectric devices in various industrial sectors for process management, quality control, and research and development. Piezoelectric devices utilize the piezoelectric effect to measure pressure, acceleration, temperature, shear stress, or force by converting these factors into an electric charge.

The main types of piezoelectric devices include sensors, actuators, transducers, motors, and generators, which are constructed from materials like ceramics, crystals, polymers, and composites. Piezoelectric sensors convert physical factors such as acceleration, pressure, or strain into electrical charges for monitoring, while piezoelectric actuators use the piezoelectric effect to convert electrical energy into mechanical displacement or stress. These devices find applications in various sectors, including industrial and manufacturing, defense and aerospace, automotive, healthcare, information and communication, and consumer electronics.

The piezoelectric devices market research report is one of a series of new reports that provides piezoelectric devices market statistics, including piezoelectric devices industry global market size, regional shares, competitors with a piezoelectric devices market share, detailed piezoelectric devices market segments, market trends and opportunities, and any further data you may need to thrive in the piezoelectric devices industry. This piezoelectric devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The piezoelectric devices market size has grown steadily in recent years. It will grow from $26.09 billion in 2023 to $27.02 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to the increased demand for piezoelectric devices in various sectors, such as medical imaging and ultrasound, electronics, and automotive industries. Additionally, the development of advanced piezoelectric materials, coupled with the need for precise motion control, contributed to the growth.

The piezoelectric devices market size is expected to see steady growth in the next few years. It will grow to $31.06 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to the increased adoption of piezoelectric energy harvesting and the growing demand for haptic feedback and touchscreens. Additionally, the expansion of industrial automation and robotics is expected to drive the demand for customized piezoelectric solutions across various applications. The focus on energy-efficient sensors is also a significant trend influencing the growth of the piezoelectric devices market.

The anticipated surge in demand for wearable devices is poised to drive the future growth of the piezoelectric devices market. Wearable devices, encompassing electronic accessories or clothing, are designed to offer diverse functions, including health monitoring, fitness tracking, information provision, and entertainment. Piezoelectric devices, such as sensors, play a crucial role in wearables by detecting and monitoring various physical parameters and biometric data. For instance, as reported by Deloitte Touche Tohmatsu Limited in December 2021, the number of consumer health and wellness wearable devices is expected to reach nearly 440 million by 2024, up from 320 million in 2022. This underscores the growing demand for wearables, acting as a driving force for the piezoelectric devices market.

The increasing demand within the oil and gas industry is anticipated to be a driving factor for the piezoelectric devices market in the coming years. The oil and gas industry involves the conversion of crude oil and natural gas into finished petroleum products, and piezoelectric devices are employed for pipeline monitoring to detect issues like leaks, corrosion, and integrity concerns. This proactive approach aims to prevent environmental damage and financial losses. In 2023, the US Energy Information Administration reported a crude oil output of 12.4 million b/d, up from 11.7 million b/d in 2022. Additionally, the average daily consumption of natural gas in the US in September 2022 reached 86.6 billion cubic feet (Bcf/d), marking the highest annual consumption compared to the previous year. Consequently, the increasing demand within the oil and gas industry is contributing to the growth of the piezoelectric devices market.

Technological advancements in piezoelectric materials and polymers are significantly influencing the piezoelectric devices market. Researchers and engineers are increasingly developing 3D printed piezoelectric materials to overcome limitations related to shapes and raw materials. These materials are designed to convert impact, movement, and stress from any direction into electrical energy. For instance, a collaboration between researchers from Korea's Jeonbuk National University and Chinese material provider Wuhan Chamtop resulted in the innovation of 3D printed wearable self-powered sensors in February 2021. These sensors, utilizing piezoelectric energy, represent a noteworthy advancement in additive wearable electronics.

Major companies in the piezoelectric devices market are innovating products like micromotors to enhance customer services. Micromotors, utilizing the piezoelectric effect, are the smallest motors designed for applications in medical devices and 3D printers. In December 2022, Xeryon, a Belgium-based company specializing in piezo actuators and motors, launched a micromotor measuring just 10 by 10 millimeters and 2 millimeters thick. This innovation, vibrating up to 200,000 times per second, is versatile enough to fit on the tip of a needle, catering to a broad range of applications.

In March 2021, Piezo Motion Corp, a US-based company focused on high-precision piezoelectric motion technology, acquired Discovery Technology International, Inc., without disclosing the amount. This strategic move allowed Piezo Motion to release a full product line of energy-efficient piezo motors, making this technology accessible for various motion control applications across multiple sectors. Discovery Technology International, Inc., headquartered in Florida, specializes in designing and producing ultrasonic standing wave-type piezoelectric motors.

Major companies operating in the piezoelectric devices market include Aerotech Inc., APC International Ltd., CeramTec GmbH, CTS Corporation, Kistler Instruments India Pvt. Ltd., L3harris Technologies Inc., Mad City Labs Inc., Morgan Advanced Materials PLC, Physik Instrumente (PI) GmbH & Co. KG, Piezomechanik Dr. Lutz Pickelmann GmbH, Piezosystem jena GmbH, PCB Piezotronics Inc., Exelis Inc., Metrix Instrument Co., Honeywell International Inc., Meggitt SA, Bruel and Kjaer UK Ltd., TE Connectivity Ltd., Kyowa Electronic Instruments Co. Ltd., US Eurotek Inc., Noliac A/S, Piezo Technologies India Pvt. Ltd., Dytran Instruments Inc., ELPA TV & Bredbandsteknik AB, Kinetic Ceramics LLC, Johnson Matthey Piezo Products GmbH, Physik Instrumente GmbH & Co. KG, HongKong Piezo Company Limited, TRS Technologies India Pvt. Ltd., Sparkler Ceramics Ltd., Solvay SA, Usound GmbH, Centre for Process Innovation Limited, Sensor Technology Ltd., Actuated Medical Inc., Aito BV, Vesper Technologies Inc., Sensonics Ltd., Harri Krishna Exports Pvt. Ltd., Murata Manufacturing Co. Ltd.

Asia-Pacific was the largest region in the piezoelectric devices market in 2023. The regions covered in the piezoelectric devices market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the piezoelectric devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The piezoelectric devices market consists of sales of piezoelectric devices made of different materials such as piezoelectric ceramics (PZT), piezoelectric polymers, and piezoelectric composites.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.