Piezoelectric Components Market Size is predicted to reach USD $32.1 Billion with CAGR of 6.8% by 2030 – IndustryARC

Piezoelectric Components Market size is predicted to reach $32.1 billion by 2030, growing at a CAGR of 6.8% during the forecast period 2023-2030. Piezoelectric Components Market are very efficient and provide high power or torque densities, all of which are necessary for the industrial applications that could propel the Piezoelectric Components Market  during the forecast period, finds IndustryARC in its recent report, titled “Piezoelectric Components Market  Size, Share & Trends Analysis By Material Type (Ceramics, Polymers, Composites, Others), By Application (Actuators (Stack  Actuators , Bender Actuators, Tube Actuators, Ring Actuators , Others), Sensors , Motors , Acoustic Devices , Generators, Transducers , Fuel Injectors , Others ) , By Element (Disks , Rings , Plates ) By End Use (Automotive , Healthcare ,( Ultrasound Imaging Systems , Medical Sensors , Implantable Medical Devices ), Information &Telecom, Consumer goods, Aerospace &Defense , Building and Construction, Energy Harvesting and Power Generation, Robotics and Automation , Industrial Automation, Oil and Gas Industry , Others) , By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030

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Fastest Growth Asia Pacific Region

Geographically, the Asia Pacific region dominated the market in 2022 and is further expected to grow at the fastest CAGR of 9.8% over the forecast period. The robust presence of the electronics industry in Taiwan, China, South Korea, India, and Japan is likely to be a favorable factor. In addition, improving sales of consumer electronics products in South Asia and ASEAN countries including smartphones and tablets in light of new product launches by Apple, Samsung, LG is expected to open new opportunities for conductive polymers. China dominated the revenue share of piezoelectric materials in the Asia Pacific region, and the expected boost in demand for piezoelectric materials used in energy storage systems in the country is attributed to regulatory initiatives aimed at expediting solar and wind power generation.

Piezoelectric Components Market 2023-2030: Scope of the Report

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Piezoelectric Components Market Report – Key Takeaways:

Growing Demand of Piezoelectric Components in Health Care

Smart piezoelectric materials are attracting a lot of attention in the healthcare industry owing to their alluring properties. Due to the bio-compatibility and biodegradability of piezoelectric smart materials, progress in the application of piezoelectric materials in biomedical devices is seen. The increasing use of piezoelectric smart materials to design medical devices and provide a greater understanding of the piezoelectric effect in the medical industry is driving the growth of the market. Actuators and sensors, energy harvesters, and active neural tissue engineering scaffolds are all examples of medical devices that are constantly being researched. Piezoelectric smart materials such as sensors and actuators used in the medical devices can transform the flow rate, and pressure to generate or consume energy.

Increasing Adoption of Piezoelectric Products in the Aerospace Industry is the Fastest Growing Segment in the Market.

The aerospace industry has witnessed a transformative shift towards advanced technologies that enhance both performance and efficiency. Piezoelectric products, known for their exceptional ability to convert mechanical vibrations into electrical energy and vice versa, align seamlessly with the aerospace industry’s pursuit of innovative solutions. The aerospace industry’s rapid embrace of piezoelectric products is also underscored by the lightweight nature of these components, which aligns with the aerospace industry’s continuous pursuit of weight reduction to enhance fuel efficiency and overall performance. This synergy between the unique capabilities of piezoelectric products and the aerospace industry’s evolving needs has led to a significant surge in their adoption, making aerospace the most dynamically growing segment within the Market.

The Increasing Demand from Automobile Makers for Piezoelectric Devices

One of the key applications of piezoelectric technology in automobiles lies in the realm of energy harvesting. The mechanical vibrations and movements generated during vehicle operation can be harnessed using piezoelectric materials to generate electrical energy. This harvested energy can then power various vehicle systems, contributing to improved energy efficiency and reduced reliance on traditional energy sources. Additionally, piezoelectric sensors are finding extensive use in the automotive industry for functions such as tire pressure monitoring, engine diagnostics, and occupant safety systems. These sensors can accurately detect changes in pressure, strain, and vibrations, providing real-time data for enhanced vehicle performance, safety, and maintenance. The lightweight and compact nature of piezoelectric components aligns with the automotive industry’s pursuit of weight reduction and space optimization, contributing to improved vehicle dynamics and overall efficiency.

High Cost of Raw Materials to Manufacture Industrial Motors Can Hamper the Market Growth

High cost of raw materials to manufacture industrial motors can act as a major challenge restraining the growth of the Industrial Motor Market. The cost of raw materials such as metals which includes steel, aluminum, and insulation materials are quite expensive. Steel prices have become highly volatile in global markets. Consequently, input costs for many steel-consuming industries have fluctuated dramatically. Steel is the predominantly used raw material in the industrial motors market, and price fluctuations for steel will have an adverse impact.

Raw material price volatility also has an impact on suppliers’ and end-user industries’ estimates and projections, which disturbs their growth strategy. Consequently, changes in the price of raw materials—particularly steel and aluminum—could impede the expansion of the worldwide industrial motors market. These challenges are set to hinder the Piezoelectric Components Market growth in the future.

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Key Opportunity Analysis:

Growing Demand for Adoption of Piezoelectric Products in Biomedical and Surgical Applications Will Positively Impact the Market Growth.

The biomedical and surgical sectors are experiencing a rapid evolution, marked by technological advancements that are reshaping diagnostics, treatment methods, and patient care. Within this context, piezoelectric products have emerged as game-changers due to their unique properties, such as precise motion control, accurate sensing capabilities, and the ability to generate ultrasonic vibrations. In biomedical imaging, piezoelectric transducers are pivotal components of ultrasound systems. These transducers emit and receive ultrasonic waves that allow for non-invasive imaging of internal organs, tissues, and even blood flow. The exceptional precision and real-time imaging capabilities provided by piezoelectric-based ultrasound systems contribute to enhanced diagnostics and minimally invasive procedures.

Furthermore, the adoption of piezoelectric actuators and sensors in surgical applications has led to transformative breakthroughs. In robotic-assisted surgeries, these components enable highly precise and controlled movements of surgical instruments, reducing invasiveness and improving surgical outcomes. The inherent responsiveness of piezoelectric materials to electric signals allows for rapid adjustments in instrument positioning, enhancing the surgeon’s capabilities during complex procedures.

Growing Use of Piezoelectric Nanomaterials in Electronic Devices.

The Piezoelectric Components Market is experiencing a notable shift driven by the increasing utilization of piezoelectric nanomaterials in electronic devices. Nanotechnology has ushered in a new era of innovation, enabling the miniaturization and enhanced performance of electronic components. In this context, piezoelectric nanomaterials, which exhibit unique piezoelectric properties at the nanoscale, are finding growing applications in a wide range of electronic devices. In the field of microelectronics, piezoelectric nanomaterials are contributing to advancements in memory storage. The use of these materials in non-volatile memory devices allows for faster data storage and retrieval, improved energy efficiency, and extended lifespan compared to conventional memory technologies.

Moreover, piezoelectric nanogenerators are being developed for wearable and portable electronics. These small, lightweight devices can generate electricity from ambient mechanical movements, such as body motions or even vibrations from sound waves

The Increasing Demand from Automobile Makers for Piezoelectric Devices

One of the key applications of piezoelectric technology in automobiles lies in the realm of energy harvesting. The mechanical vibrations and movements generated during vehicle operation can be harnessed using piezoelectric materials to generate electrical energy. This harvested energy can then power various vehicle systems, contributing to improved energy efficiency and reduced reliance on traditional energy sources.

Additionally, piezoelectric sensors are finding extensive use in the automotive industry for functions such as tire pressure monitoring, engine diagnostics, and occupant safety systems. These sensors can accurately detect changes in pressure, strain, and vibrations, providing real-time data for enhanced vehicle performance, safety, and maintenance. The lightweight and compact nature of piezoelectric components aligns with the automotive industry’s pursuit of weight reduction and space optimization, contributing to improved vehicle dynamics and overall efficiency.

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The Report also Covers the Following Areas:

• Piezoelectric Components Market Size and Forecast
• Piezoelectric Components Market Trends

Piezoelectric Components Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain analysis of key stake holders
• Detailed analysis of market drivers and opportunities during the forecast period
• Piezoelectric Components Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Piezoelectric Components Market

COVID-19 / Ukraine Crisis – Impact Analysis: 

• The COVID-19 pandemic situation affected the supply of piezoelectric materials and has subsequently interrupted the industrial operations. Moreover, the supply of Piezoelectric Mmaterials in import-dependent countries had a significant effect on the trade disruptions which declined the market growth in the year 2020. Like many other industries, the piezoelectric components market experienced disruptions in its supply chain due to the pandemic. Restrictions on movement and lockdowns in various parts of the world led to delays in the production and transportation of these components. The pandemic accelerated trends in certain industries. For instance, the increased use of remote monitoring and telemedicine led to greater demand for medical devices that incorporate piezoelectric components. Similarly, the growth of the electric vehicle market could drive demand for piezoelectric components used in sensors and energy harvesting.
• Exchange rate fluctuations are common during geopolitical crises. These fluctuations can impact the cost of imported components and affect the profitability of companies that rely on international trade for their piezoelectric components. In response to geopolitical tensions, governments may impose export restrictions or sanctions on certain countries or industries. Such measures can limit access to key components or markets, affecting the piezoelectric components industry. the specific impact of the Ukraine crisis on the piezoelectric components market would depend on a variety of factors, including the duration and severity of the crisis, the countries and companies involved, and the global economic and political response

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List of Key Market Players in Piezoelectric Components Market :

The key companies profiled in the Piezoelectric Components Market Report are listed below:

• PI Ceramic GMBH
• APC International, Ltd.
• Harris Corporation
• CTS Corporation
• Peizosystem Jena GmbH
• CeramTec
• Sparkler Ceramics
• Noliac A/S
• Piezomechanik Dr. Lutz Pickelmann GmbH
• Mad City Labs, Inc. 
• CEDRAT TECHNOLOGIES
• Arkema
• AAC Technologies
• Solvay

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