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Piezoelectric Energy Harvesting System Market Size, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2023 - 2032

  • Report ID: GMI3506

Piezoelectric Energy Harvesting System Market size is forecast to record commendable gains through the analysis period 2023-2032. The expanding applications of piezoelectric energy harvesting owing to higher energy efficiency and significant environmental benefits are major factors behind the market growth. The technology is witnessing increasing adoption due to the need for sustainable and durable energy systems with minimal operational costs.

The industry size is expanding owing to the need to reduce global carbon emissions. One of the easiest ways to minimize the carbon footprint is to reduce power wastage. Consequently, an increase in government and private partner investments along with stringent regulatory norms will lead to accelerated efforts to harness piezoelectric energy for various applications.

High reliability, durability, and robustness will be key prospects augmenting the piezoelectric energy harvesting system market forecast by 2032. Piezoelectric energy harvesting involves the conversion of kinetic energy in the form of light, vibrations, or shock into electrical power.

Piezoelectric harvesters or piezoelectric generators are used to convert the vibrational energy which is released into the environment to usable electrical energy. The technology is suited for charging a battery, or supercapacitor, or to directly power remote sensor networks.

Although there was not a direct implication of the Russia and Ukraine war on the piezoelectric energy harvesting system market, the industry witnessed an indirect depletion in demand in the affected countries as a result of significant border tensions and regulatory environment. For instance, trade restrictions for energy harvesting systems manufactured by Russian firms subdued growth in the US market.

In terms of end-use, the Piezoelectric Energy Harvesting System industry is categorized into wireless switching systems, regenerative energy harvesting systems, wireless sensing & telematics system, wireless HVAC system, asset tracking system, tire pressure monitoring systems, and remote health monitoring systems. The growing need for remote health monitoring systems is driven by mounting investments in healthcare infrastructure and the rising number of people suffering from chronic diseases. The positive consumer inclination toward diabetes and blood pressure monitoring solutions is primed to accelerate segment growth.

Based on application, the piezoelectric energy harvesting system market has been categorized into consumer electronics, building & home automation, transportation & security, and the industrial sector. It is estimated that building & home automation will capture a notable industry share in the future. The trend of home automation and smart connected devices is rapidly gaining momentum worldwide. Ongoing research and development efforts have highlighted that harnessing piezoelectric power could help improve IoT power consumption. Piezoelectric harvesters can leverage residual vibrational energy and convert mechanical energy into alternating electric current, which can power wireless smart home devices efficiently.

In terms of the regional analysis, the Europe piezoelectric energy harvesting system market is projected to grow at a rapid pace through 2032 led by the demand for energy-efficient components and peripherals across the industrial sector. The region is increasingly focusing on the development of advanced energy harvesting systems backed by active investments by the respective governments. Continuous advances in the home automation and IoT space along with developments in the consumer electronics sector will bolster the regional outlook significantly.

Silex Microsystem AB, Texas Instruments, Honeywell Corporation, PI Ceramic, Boeing, Microstrain (LORD Corporation), Cymbet, Digikey, Smart Material, and NGK Electronics Devices (Morimura Group) are among the notable names in the piezoelectric energy harvesting business scenario. These companies are adopting various growth and expansion strategies to bring new solutions to the market and expand their market presence together with partnerships, acquisitions, and mergers, among others.

Citing an instance, in October 2022, PI Ceramic, a piezoceramic components manufacturer, announced an investment of nearly 15 million euros (approximately USD 164 million) in a new building to improve its production capacity by nearly 50% for high-quality piezo components covering over 7500 square meters for operations.

What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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