Global Piezoelectric Elements Market By Types (PZT-Based, PMN-Based, and Others), Applications (Industrial & Manufacturing, Aerospace & Automotive, Consumer Electronics, Medical, Military, and Others), Shapes (Disks, Rings, Plates, Tubes/Cylinders, and Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
Piezoelectric Elements Market Outlook
The global piezoelectric elements market was valued at USD 602.1 Mn in 2020 and is anticipated to reach USD 1,060.2 Mn by 2028, expanding at a CAGR of 7.7% during the forecast period. The piezoelectric element is an electromechanical transducer, which is made using piezoelectric materials of a definite shape and angle, relative to crystallographic axes.
Mechanical energy is transformed into electrical and electrical into mechanical using crystallographic axes. These elements have a unique characteristic: the element vibrates or elongates when an external voltage is applied, similar to the electricity generated when external density is applied. Types of the piezoelectric element include PZT-based lead zinc titanates, PMN-based lead magnesium niobate, and others.
Market Dynamics
Rising adoption of piezoelectricity in industrial application
Rising adoption of piezoelectricity in industrial applications such as diesel fuel injectors, cell phones, acoustic guitar pickups, ultrasonic transducers, grill igniters, vibration sensors, musical greeting cards, and certain printers is fueling the piezoelectric elements market. The industrial sensors use piezoelectric sensors, piezoelectric motors, and piezoelectric relays for power supply and voltage.
Piezoelectric materials used in the motors offer advantages such as precise and predictable characteristics, this material uses piezoelectric elements for moving a linear or rotor element in precise increments. Piezoelectric elements are in piezoelectric relays for actuating electromechanical switches or relays. The growth of the industrial application sector is expected to increase the demand for piezoelectric sensors, piezoelectric motors, and piezoelectric relays, which in turn, is projected to drive the demand for piezoelectric elements during the forecast period.
Increasing automation in end-use industries such as electronics and automotive
End-use industries such as electronics and automotive manufacturing are incorporating automation in manufacturing lines, which has augmented the demand for devices such as transducers, sensors, motors, and actuators to smoothly run production lines. These gadgets utilize the properties endowed by the piezoelectric materials, which is made using piezoelectric element for measuring various quantities such as pressure, acceleration, acoustic intensity, and strain, thus high demand for such element is projected to expand significantly with the growing dependence of industries on automation.
Rising spending on aerospace & defense devices such as missile guidance systems, drones, and radars
Governments of countries such as China, the US, India, Japan, and Israel have considerably increased the defense activities budget in the recent years. Governments are investing on building devices such as drones, radars, and missile guidance systems to support the armed force capabilities. Moreover, increase in activities of space exploration has fuelled the usage of devices such as acoustic devices, SONARs, and sensors to study space objects and associated environments.
These devices need special materials, which are made of the piezoelectric elements to detect the changes in their range and provide consistent & accurate results. Rising spending on aerospace & defense devices such as missile guidance systems, drones, and radars, which use piezoelectric elements is expected to drive the market during the forecast period.
Growing demand for substitutes including dielectric and inherently conductive polymers in manufacturing actuators
Increasing demand for substitutes such as dielectric and conductive polymers for manufacturing actuators due to product advancements by companies such as Parker and Solvay is projected to hamper the market. Furthermore, rising demand for lightweight components and huge scope of innovation and product development through customization and design flexibility are driving the demand for conductive polymers. Conductive polymers are suitable for products, which requires space and weight considerations such as portable consumer electronics.
Combining piezoelectric elements with MEMS technology for energy savings and miniaturization
Combining piezoelectric elements with MEMS technology for energy savings and miniaturization is expected to create opportunities in the market during the forecast period. Piezoelectric elements possess properties such as generating voltage, incorporated in a wide range of electronic devices, autofocus systems from conventional inkjet print heads in standard and infrared cameras.
These elements are combined with micro-electromechanical systems (MEMS) technology, which is used in gyroscopes and accelerometers to simplify the design to decrease the size of processing regulators, resulting in increased performance, end-product miniaturization, and reduce costs. Moreover, energy-saving features of the piezoelectric elements that need slight power during backup, are garnering increased attention, mainly in the sensor industry.
The application of piezoelectric MEMS includes infrared sensors and cameras, microphones and speakers, inkjet printheads, energy harvesting, autofocus function in cameras, and actuator/nozzle control.
Segmental Outlook
The global piezoelectric elements market is segmented on the basis of types, applications, shpaes, and regions.
On the basis of types, the piezoelectric elements market is segmented into PZT-based (lead zinc titanates), PMN-based (lead magnesium niobate), and others. In terms of value, the PZT-based (lead zinc titanates) segment is expected to expand at a CAGR of 6.2% during the forecast period, as it is used for manufacturing actuators and transducers, as the performance of the element is easily modified on the basis of the usage of doping materials.
Based on shapes, the market is divided into disks, rings, plates, tubes/cylinders, and others. The ring segment is anticipated to expand at a CAGR of 6.1%, in terms of value, during the forecast period, due to owing to its increasing adoption in the healthcare sector, as it is extensively used in phacoemulsification, ultrasonic scalpel, debriding, cauterization, therapeutic ultrasound, and ultrasonic aspirators.
In terms of applications, the market is segregated into industrial & manufacturing, aerospace & automotive, consumer electronics, medical, military, and others. In terms of value, the industrial and manufacturing segment is expected to grow at a CAGR of 5.3% during the forecast period, piezoelectric elements are used in piezoelectric motors, actuators, sensors, and transducers, which have a variety of uses in industrial practices. Growing demand for miniaturization, precision, and high accuracy in the manufacturing industry.
Regional Outlook
Based on regions, the global piezoelectric elements market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to hold a significant share of the market. Asia Pacific has emerged as a manufacturing hub for consumer goods and electronics. Countries such as Japan, China, Taiwan, South Korea, and India are focusing on expanding their production capabilities, which in turn, is driving the demand for piezoelectric elements in the region.
The market in Europe is projected to expand at a CAGR of 6.3% during the forecast period, owing to the presence of lucrative healthcare, industrial & manufacturing, and automotive industries in the region. These elements are used in products such as ultrasound devices and diagnostic and therapeutic equipment and surgical tools. Furthermore, the presence of market players such as such as PI Ceramic GmbH in the region is driving the market in Europe.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the global piezoelectric elements market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global piezoelectric elements Market Performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Piezoelectric Elements Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Piezoelectric Elements Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Piezoelectric Elements Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Piezoelectric Elements Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Piezoelectric Elements Market Size & Forecast, 2017-2027
4.5.1 Piezoelectric Elements Market Size and Y-o-Y Growth
4.5.2 Piezoelectric Elements Market Absolute $ Opportunity
4.6 Global Piezoelectric Elements Market: Impact Of Key Regulations
4.7 Global Piezoelectric Devices Industry: Overview
Chapter 5 Global Piezoelectric Elements Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 Piezoelectric Elements Market Size Forecast By Type
5.2.1 PZT-based (lead zinc titanates)
5.2.2 PMN-based (lead magnesium niobate)
5.2.3 Others
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Piezoelectric Elements Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Piezoelectric Elements Market Size Forecast By Application
6.2.1 Industrial & Manufacturing
6.2.2 Aerospace & Automotive
6.2.3 Consumer Electronics
6.2.4 Medical
6.2.5 Military
6.2.6 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Piezoelectric Elements Market Analysis and Forecast By Shape
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By Shape
7.1.2 Basis Point Share (BPS) Analysis By Shape
7.1.3 Absolute $ Opportunity Assessment By Shape
7.2 Piezoelectric Elements Market Size Forecast By Shape
7.2.1 Disks
7.2.2 Rings
7.2.3 Plates
7.2.4 Tubes/Cylinders
7.2.5 Others
7.3 Market Attractiveness Analysis By Shape
Chapter 8 Global Piezoelectric Elements Market Analysis and Forecast by Region
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities by Region
8.1.2 Basis Point Share (BPS) Analysis by Region
8.1.3 Absolute $ Opportunity Assessment by Region
8.2 Piezoelectric Elements Market Size Forecast by Region
8.2.1 North America
8.2.2 Europe
8.2.3 Asia Pacific
8.2.4 Latin America
8.2.5 Middle East & Africa (MEA)
8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Current & Future Impact Analysis
9.3 Economic Impact Analysis
9.4 Government Policies
9.5 Investment Scenario
Chapter 10 North America Piezoelectric Elements Analysis and Forecast
10.1 Introduction
10.2 North America Piezoelectric Elements Market Size Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 North America Piezoelectric Elements Market Size Forecast By Type
10.6.1 PZT-based (lead zinc titanates)
10.6.2 PMN-based (lead magnesium niobate)
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 North America Piezoelectric Elements Market Size Forecast By Application
10.10.1 Industrial & Manufacturing
10.10.2 Aerospace & Automotive
10.10.3 Consumer Electronics
10.10.4 Medical
10.10.5 Military
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
10.14 North America Piezoelectric Elements Market Size Forecast By Shape
10.14.1 Disks
10.14.2 Rings
10.14.3 Plates
10.14.4 Tubes/Cylinders
10.14.5 Others
10.15 Basis Point Share (BPS) Analysis By Shape
10.16 Absolute $ Opportunity Assessment By Shape
10.17 Market Attractiveness Analysis By Shape
Chapter 11 Europe Piezoelectric Elements Analysis and Forecast
11.1 Introduction
11.2 Europe Piezoelectric Elements Market Size Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Europe Piezoelectric Elements Market Size Forecast By Type
11.6.1 PZT-based (lead zinc titanates)
11.6.2 PMN-based (lead magnesium niobate)
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Europe Piezoelectric Elements Market Size Forecast By Application
11.10.1 Industrial & Manufacturing
11.10.2 Aerospace & Automotive
11.10.3 Consumer Electronics
11.10.4 Medical
11.10.5 Military
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
11.14 Europe Piezoelectric Elements Market Size Forecast By Shape
11.14.1 Disks
11.14.2 Rings
11.14.3 Plates
11.14.4 Tubes/Cylinders
11.14.5 Others
11.15 Basis Point Share (BPS) Analysis By Shape
11.16 Absolute $ Opportunity Assessment By Shape
11.17 Market Attractiveness Analysis By Shape
Chapter 12 Asia Pacific Piezoelectric Elements Analysis and Forecast
12.1 Introduction
12.2 Asia Pacific Piezoelectric Elements Market Size Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 South East Asia (SEA)
12.2.7 Rest of Asia Pacific (APAC)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Asia Pacific Piezoelectric Elements Market Size Forecast By Type
12.6.1 PZT-based (lead zinc titanates)
12.6.2 PMN-based (lead magnesium niobate)
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Asia Pacific Piezoelectric Elements Market Size Forecast By Application
12.10.1 Industrial & Manufacturing
12.10.2 Aerospace & Automotive
12.10.3 Consumer Electronics
12.10.4 Medical
12.10.5 Military
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
12.14 Asia Pacific Piezoelectric Elements Market Size Forecast By Shape
12.14.1 Disks
12.14.2 Rings
12.14.3 Plates
12.14.4 Tubes/Cylinders
12.14.5 Others
12.15 Basis Point Share (BPS) Analysis By Shape
12.16 Absolute $ Opportunity Assessment By Shape
12.17 Market Attractiveness Analysis By Shape
Chapter 13 Latin America Piezoelectric Elements Analysis and Forecast
13.1 Introduction
13.2 Latin America Piezoelectric Elements Market Size Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America (LATAM)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Latin America Piezoelectric Elements Market Size Forecast By Type
13.6.1 PZT-based (lead zinc titanates)
13.6.2 PMN-based (lead magnesium niobate)
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Latin America Piezoelectric Elements Market Size Forecast By Application
13.10.1 Industrial & Manufacturing
13.10.2 Aerospace & Automotive
13.10.3 Consumer Electronics
13.10.4 Medical
13.10.5 Military
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
13.14 Latin America Piezoelectric Elements Market Size Forecast By Shape
13.14.1 Disks
13.14.2 Rings
13.14.3 Plates
13.14.4 Tubes/Cylinders
13.14.5 Others
13.15 Basis Point Share (BPS) Analysis By Shape
13.16 Absolute $ Opportunity Assessment By Shape
13.17 Market Attractiveness Analysis By Shape
Chapter 14 Middle East & Africa (MEA) Piezoelectric Elements Analysis and Forecast
14.1 Introduction
14.2 Middle East & Africa (MEA) Piezoelectric Elements Market Size Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Middle East & Africa (MEA) Piezoelectric Elements Market Size Forecast By Type
14.6.1 PZT-based (lead zinc titanates)
14.6.2 PMN-based (lead magnesium niobate)
14.6.3 Others
14.7 Basis Point Share (BPS) Analysis By Type
14.8 Absolute $ Opportunity Assessment By Type
14.9 Market Attractiveness Analysis By Type
14.10 Middle East & Africa (MEA) Piezoelectric Elements Market Size Forecast By Application
14.10.1 Industrial & Manufacturing
14.10.2 Aerospace & Automotive
14.10.3 Consumer Electronics
14.10.4 Medical
14.10.5 Military
14.10.6 Others
14.11 Basis Point Share (BPS) Analysis By Application
14.12 Absolute $ Opportunity Assessment By Application
14.13 Market Attractiveness Analysis By Application
14.14 Middle East & Africa (MEA) Piezoelectric Elements Market Size Forecast By Shape
14.14.1 Disks
14.14.2 Rings
14.14.3 Plates
14.14.4 Tubes/Cylinders
14.14.5 Others
14.15 Basis Point Share (BPS) Analysis By Shape
14.16 Absolute $ Opportunity Assessment By Shape
14.17 Market Attractiveness Analysis By Shape
Chapter 15 Competition Landscape
15.1 Piezoelectric Elements Market: Competitive Dashboard
15.2 Global Piezoelectric Elements Market: Market Share Analysis, 2019
15.3 Company Profiles (Details - Overview, Financials, Developments, Strategy)
15.3.1 KYOCERA Corporation
15.3.2 PZT Electronic Ceramic Co.,Ltd
15.3.3 CTS Corporation
15.3.4 PI Ceramic GmbH
15.3.5 CTDCO
15.3.6 Fuji Ceramics Corporation
15.3.7 Piezo Technologies
15.3.8 BeStar Electronics Co., Ltd,
15.3.9 TRS Technologies, Inc.
15.3.10 Kinetic Ceramics
15.3.11 Zibo Yuhai Electronic Ceramic Co., Ltd.
15.3.12 APC International
15.3.13 Piezo Kinetics
15.3.14 Sparkler Ceramics
15.3.15 Weifang Jude Electronic Co.,Ltd