Piezoelectric Devices Market Size Worth $55.96 Billion, Globally, by 2031 Growing at 7.0% CAGR | Exclusive Report by The Insight Partners

NEW YORK, Feb. 20, 2025 /PRNewswire/ -- The global piezoelectric devices market share is set for explosive growth with a CAGR of 7.0% during 2025–2031, it was valued at $34.86 billion in 2024, with projections indicating a surge to $55.96 billion by 2031. This remarkable expansion is driven by growing demand for miniaturized and high-precision devices

According to a new comprehensive report from The Insight Partners, "Piezoelectric Devices Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product, Material, Application, and Geography", the global piezoelectric devices market is observing healthy growth owing to the increasing use of piezoelectric sensors in industrial and automotive applications.

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The piezoelectric devices market was valued at US$ 34.86 billion in 2024 and is projected to reach US$ 55.96 billion by 2031; it is expected to register a CAGR of 7.0% during 2025–2031.

The report runs an in-depth analysis of market trends, key players, and future opportunities. With increasing emphasis on sustainability, there will be an increased focus on designing sustainable piezoelectric materials. This is further boosting the market growth.

Market Overview and Growth Trajectory:

Market Growth: The piezoelectric devices market is expected to reach US$ 55.96 billion by 2031 from US$ 34.86 billion in 2024; it is expected to record a CAGR of 7.0% during the forecast period. The sensor technology industry is evolving rapidly, with innovations that cater to an increasing demand for smarter and more efficient solutions. As industries such as automotive, healthcare, and consumer electronics continue to adopt advanced technologies, the need for more sophisticated and reliable sensors is growing. These sensors play a critical role in enhancing human-machine interaction, monitoring systems, and improving overall device performance. To cater to such demand for sensor technology, market players are introducing piezoelectric sensors, which contributes to the market growth. For example, in June 2023, Interlink Electronics, Inc. announced the addition of piezoelectric film sensors and advanced matrix sensor solutions to its family of printed sensor products.

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Increasing Use of Piezoelectric Sensors in Industrial and Automotive Applications: The growing use of piezoelectric sensors in the industrial and automotive sectors is a major driver of the piezoelectric devices market. These sensors are widely utilized in industries such as manufacturing, aerospace, and automotive for applications like vibration monitoring, pressure sensing, and structural health assessments. In the automotive industry, piezoelectric sensors are integral to systems like airbags, fuel injectors, and engine management. The rising demand for improved safety features in vehicles, as well as the increasing need for real-time monitoring in industrial systems, is fueling the demand for piezoelectric devices across these sectors. In March 2024, KCF Technologies, a leader in machine health solutions, introduced a groundbreaking innovation: Piezo Sensing, part of its SMARTsensing suite of hardware products. This new addition enhances the company's capabilities in machine health monitoring by offering unparalleled precision and reliability. Piezo Sensing technology utilizes piezoelectric sensors, which are known for their ability to detect subtle vibrations and pressure changes with high accuracy. This makes it particularly effective in industrial settings, where real-time monitoring of machinery is crucial for preventing failures, reducing downtime, and optimizing performance.

Strategic Partnerships: The Piezoelectric Devices market is expected to drive significant growth, driven by technological advancements and strategic partnerships within the industry. A recent example of this is the alliance formed in January 2024 between A. M. Fitzgerald & Associates (AMFitzgerald) and Sumitomo Precision Products (SPP). This partnership combines AMFitzgerald's expertise in microelectromechanical systems (MEMS) product development with SPP's MEMS wafer foundry, MEMS Infinity, which specializes in PZT (epitaxial lead zirconate titanate) technologies. By focusing on thin-film PZT MEMS chip technologies, the alliance aims to accelerate their commercialization, particularly in small to medium-sized markets. This collaboration will likely boost the production and availability of advanced piezoelectric devices, driving innovation and increasing market opportunities across various industries such as healthcare, automotive, and consumer electronics.

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Innovative Advances in Piezoelectric Materials: In September 2024, Researchers from the Bengaluru-based Centre for Nano and Soft Matter Sciences (CeNS), in collaboration with scientists from the National Chemical Laboratory (CSIR-NCL), developed a new piezoelectric polymer nanocomposite material that can be useful for pressure sensing and energy harvesting applications. This innovative material could pave the way for more efficient and versatile piezoelectric devices, contributing to the growing demand for advanced sensing technologies and energy-efficient solutions across various industries.

Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period.

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Piezoelectric Devices Market Segmentation, Applications, Geographical Insights:

• Based on product, the piezoelectric devices market is segmented into piezoelectric sensors, piezoelectric actuators, piezoelectric motors, piezoelectric transducers, piezoelectric generators, and others. The piezoelectric sensors segment held a significant market share in 2024.
• By material, the piezoelectric devices market is segregated into piezoelectric crystals, piezoelectric ceramics, piezoelectric polymers, and piezoelectric composites. The piezoelectric crystals segment held a significant market share in 2024.
• By application, the piezoelectric devices market is segregated into aerospace and defense, information and communication, consumer electronics, automotive, healthcare, and others. The automotive segment held a significant market share in 2024.

Key Players and Competitive Landscape:

The Piezoelectric Devices Market is characterized by the presence of several major players, including:

• Aerotech Inc.
• CeramTec GmbH
• L3harris Technologies Inc.
• APC International Ltd
• CTS Corporation
• Kistler Group
• Piezo Direct
• TDK Electronics
• Physik Instrumente (PI) GmbH & Co
• Sparkler Ceramics

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

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Piezoelectric Devices Market Recent Developments and Innovations:

• Advancing piezoelectric sensors to monitor robotic movement
• AMFitzgerald and MEMS Infinity Form Alliance to Accelerate Commercialization of Piezoelectric MEMS Products
• Researchers develop piezoelectric polymer nanocomposite for energy harvesting
• KCF Technologies Unveils Piezo Sensing

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Conclusion:

The piezoelectric devices market is experiencing significant growth, driven by advancements in technology and increasing demand across various industries, including automotive, healthcare, consumer electronics, and industrial applications. Piezoelectric devices, which convert mechanical energy into electrical energy (and vice versa), are becoming essential components in a wide range of applications, such as pressure sensing, vibration monitoring, energy harvesting, and sound generation. As industries continue to seek more efficient and sustainable solutions, piezoelectric devices are gaining traction due to their high efficiency, durability, and versatility. The growing trend of integrating these devices into next-generation technologies, such as Internet of Things (IoT) systems, wearable devices, and robotics, is expected to further fuel market growth in the coming years.

Asia Pacific region is likely to register the fastest growing CAGR during 2025-2031. This is mainly due to the presence of a wide number of manufacturers in such as India, Japan, and China. The adoption of smartphones, the soaring automotive sector, and the growing trend of automation further contribute to the market growth in Asia Pacific.

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