Piezoelectric Energy Harvesting Market Insights
The piezoelectric energy harvesting market is expected to grow exponentially over the forecast period. The market is expected to be positively influenced by factors such as high demand for efficient, durable, and safe systems that have minimal or no operational cost along with increased adoption of IoT based sensors and other components in energy harvesting technology among others.
Piezoelectric harvesting technology has the ability to integrate mechanical energy with the help of a piezoelectric element. The concerned method for energy harvesting includes piezoelectric generation, solar power generation, and thermoelectric generation among other generation techniques which use mechanical movement and electromagnetic phenomena.
The market is also projected to be driven by its extensive application across several sectors including building & home automation, transportation, and industrial among others. Also, favorable government initiatives undertaken by the government are further projected to boost the market for energy harvesting, thereby propelling the demand for piezoelectric energy harvesting techniques over the forecast period. However, the lack of standardized communication protocol along with the high initial cost of deployment is projected to hinder the market growth over the coming years.
Piezoelectric Energy Harvesting Market: Application Insights
Based on application, the market has been divided into consumer electronics, building & home automation, transportation, industrial, and security among others. The demand for piezoelectric energy harvesting in an industrial application is expected to grow significantly over the coming years due to its growing demand in oil & gas industry. The market is also projected to be influenced by the advantages associated with it such as cost-effectiveness and its ability to act as a substitute to other energy harvesting techniques.
Piezoelectric Energy Harvesting: Regional Insights
North America and Latin America jointly accounted for the majority share of the global piezoelectric energy harvesting system market in 2016 and is expected to retain its dominance over the coming years. The possible factors attributing to the regional growth include growing adoption of piezoelectric energy harvesting systems in several applications. Europe is projected to follow North America in terms of revenue share. The operating companies in North America and Europe are expected to invest extensively for the development of advanced and automated systems to increase efficiency and accuracy.
The increasing demand for automation observed in a number of industry verticals is expected to boost the demand for piezoelectric energy harvesting techniques over the forecast period. India, China, Japan and other countries are expected to experience high industrial growth and technological adoption.
Piezoelectric Energy Harvesting Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase piezoelectric energy harvesting market over the coming years. Some of the leading consumers of the market include Lenovo and Samsung among others.
Piezoelectric Energy Harvesting Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Piezoelectric Energy Harvesting Market Share & Competitor Analysis
Some of the key developers profiled in the piezoelectric energy harvesting market include Advanced Cerametrics, Boeing, Honeywell, ITT, Microstrain, Inc., Smart Material Corp, Arveni, Cymbet Corporation, Digikey, and Texas Instruments Incorporated among others.
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