Piezoelectric Energy Harvesting Market: Overview

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.

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.

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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