Piezoelectric Energy Harvesting Market to Record an Exponential CAGR | 2023

An increasing number of applications of piezoelectric energy harvesting primarily due to its increased energy efficiency and environmental benefits is likely to bolster the demand for the piezoelectric energy harvesting market. Piezoelectricity is the electricity resulting in response to the applied mechanical stress. The electricity accumulates in solid material such as ceramics, crystals, and biological matter such as DNA, proteins, and bone. The piezoelectric effect is a reversible process in which material exhibiting direct piezoelectric effect i.e. charge separation due to stress also exhibits the converse piezoelectric effect i.e. the occurrence of stress and strain when the electric field is applied.

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The wide ranging application of piezoelectric includes ultrafine focusing of optical assemblies, to drive an ultrasonic nozzle, microbalances, electronic frequency generation, generation of high voltages, production and detection of sound. The various piezoelectric material used to generate electricity from a mechanical stress includes quartz, polyvinylidene fluoride, aluminum nitride, zinc oxide, lead zirconate titanate, barium titanate, tourmaline, gallium orthophosphate, and berlinite among others.

Piezoelectric energy harvesting is the process which converts mechanical energy to electrical energy, depending upon the amount of stress applied in deforming or compressing the material, the type and amount of deformation of the crystal of the material, and the frequency or speed of vibration or compression to the material.

Piezoelectric Energy Harvesting Market: Segmentation

The market for piezoelectric energy harvesting can be fragmented on the basis of its application and geography to depict an overall market picture. On the basis of application, the market for piezoelectric energy harvesting can be segmented as aerospace, consumer electronics, electronic locks, healthcare, industrial switches, lighters and other electrical, military, pavements, roads, and railroads, pushbutton industrial sensors, remote controls, toys and gadgets, and vehicle sensors.

The market for the piezoelectric energy harvesting is expected to grow significantly on account of underlying factors. The primary drivers of growth in the piezoelectric energy harvesting market include the highest reliability, efficiency and power output by size and cost offered by the piezoelectric energy devices harvesters against the alternative energy harvesting technologies.

Piezoelectric Energy Harvesting Market: Drivers and Challenges

The piezoelectric energy harvesters are a substitute to other alternative energy harvesting technologies such as electromagnetic or thermoelectric energy as they provide the consistent source of energy needed. The potential of generating electricity from piezoelectric energy harvesters is higher than alternative energy harvesting technologies, with the components of the device capable of delivering over 65 percent of their charge.

However, the challenge of converting the energy from broadband frequencies and harnessing a different number of sources of vibration at the wide variation in frequencies to produce a consistent supply of electric charge can hamper the growth in the piezoelectric energy harvesting market in the near future. Additionally, the key advantage offered by the piezoelectric material, that they can be optimized to as per the intended application and their ability to be manufactured in any shape or size, and wide ranging application of the technology is expected to augment the growth in the piezoelectric energy harvesting market.

The market for industrial applications of piezoelectric energy harvesting is expected to grow significantly on account of its increasing application in industrial environments such as oil and gas manufacturing. The application of piezoelectric energy harvesting is expected to increase significantly in oil and gas production as it is a cost-effective alternative to expensive wired infrastructure. Asia Pacific and North American countries are expected to show higher growth in the piezoelectric energy harvesting market over the forecast period.

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Some of the key players in the piezoelectric energy harvesting market include Advanced Cerametrics, Boeing, Honeywell, ITT, Microstrain, Inc., Smart Material Corp., and Tokyo Institute of Technology.