|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD
597.93 Million
|
|
CAGR
(2023-2028)
|
4.75%
|
|
Fastest
Growing Segment
|
Light
Energy Harvesting
|
|
Largest
Market
|
North
America
|
Market Overview
Global Piezoelectric Energy Harvesting System Market
was valued at USD 597.93 Million in 2022 and is anticipated to project robust
growth in the forecast period with a CAGR of 4.75% through 2028. Piezoelectric
energy harvesting is the process that 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. Its 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.
Key Market Drivers
Growing Demand for Sustainable Energy
The global demand for sustainable energy sources
has become a driving force behind the growth of the Piezoelectric Energy
Harvesting System Market. As the world grapples with environmental concerns and
the need to reduce its carbon footprint, piezoelectric energy harvesting
systems have emerged as a compelling solution, offering a clean, renewable, and
eco-friendly source of power. One of the primary drivers for the adoption of
piezoelectric energy harvesting systems is the increasing awareness of climate
change and the urgent need to transition away from fossil fuels. As nations and
industries strive to meet ambitious sustainability goals and reduce greenhouse
gas emissions, the focus has shifted to renewable energy technologies that can
help mitigate the environmental impact of energy generation. Piezoelectric
energy harvesting aligns perfectly with this agenda, as it generates
electricity from mechanical vibrations and movements without producing harmful
emissions.
Additionally, the need for sustainable energy
sources extends beyond just addressing climate change. It also encompasses a
desire for energy security and resilience. Piezoelectric energy harvesting
systems can provide localized power generation in various applications,
reducing dependence on centralized energy grids and enhancing energy
resilience, particularly in remote or off-grid locations. In parallel, there is
a growing recognition of the economic benefits of sustainable energy.
Piezoelectric energy harvesting can lead to cost savings by reducing the
reliance on traditional energy sources and batteries. These systems can be
particularly advantageous in applications where battery replacement and
maintenance costs are high, such as in remote monitoring devices or
infrastructure sensors.
Moreover, the global commitment to sustainable
practices has led to regulatory incentives and subsidies to promote the
adoption of renewable energy technologies, including piezoelectric energy
harvesting. Governments and organizations around the world are offering
financial incentives and support to encourage the integration of these systems
into various applications. As the demand for sustainable energy solutions
continues to surge, the global piezoelectric energy harvesting system market is
poised for substantial growth. These systems not only offer an environmentally
friendly alternative but also contribute to energy security, economic savings,
and energy resilience. In a world increasingly focused on sustainability,
piezoelectric energy harvesting systems are well-positioned to play a pivotal
role in shaping the future of clean and efficient energy generation.
Miniaturization and IoT Devices
Miniaturization and the burgeoning Internet of
Things (IoT) landscape are poised to be potent drivers propelling the Global
Piezoelectric Energy Harvesting System Market to new heights. The convergence
of these two trends has sparked a surge in demand for compact, efficient, and
sustainable power sources, and piezoelectric energy harvesting systems have
emerged as a perfect fit. The rapid proliferation of IoT devices is reshaping
the way we interact with our environment and gather data. These devices, ranging
from smart thermostats to wearable fitness trackers and industrial sensors, are
becoming an integral part of our daily lives and industries. However, the
Achilles' heel of many IoT devices is their dependence on traditional
batteries, which can be cumbersome, finite, and environmentally unfriendly.
This is where piezoelectric energy harvesting steps in as a game-changer.
Piezoelectric energy harvesting systems harness
mechanical vibrations and movements, converting them into electrical energy. In
the context of miniaturized IoT devices, this means that everyday actions, such
as walking or even the subtle vibrations of machinery, can be tapped into as a
power source. This not only extends the operational lifespan of IoT devices but
also reduces the need for frequent battery replacements, lowering maintenance
costs and minimizing environmental impact. Furthermore, miniaturization is not
just about making devices smaller; it's also about making them more efficient
and self-sustaining. Piezoelectric materials can be integrated into the very
structure of IoT devices or incorporated into their components, making them
more power-efficient and environmentally friendly. This integration can lead to
energy-autonomous devices that can operate indefinitely in the right
conditions.
As IoT continues to permeate various industries,
including healthcare, manufacturing, agriculture, and smart cities, the demand
for piezoelectric energy harvesting systems will rise exponentially. These
systems align with the core principles of IoT—connectivity, sustainability, and
efficiency—making them indispensable for the IoT revolution. With advancements
in materials and technology, the future of miniaturized IoT devices powered by
piezoelectric energy harvesting systems looks exceptionally promising, driving
growth in the global market and contributing to a more sustainable and
interconnected world.
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Key Market Challenges
Limited Energy Output
The limited energy output of piezoelectric energy
harvesting systems stands out as a significant hurdle in the path of the Global
Piezoelectric Energy Harvesting System Market. While these systems offer a
promising source of renewable energy, their relatively low energy production
capacity poses challenges and limitations that can hinder their widespread
adoption. One of the foremost issues is the insufficient energy output for
certain applications. Piezoelectric energy harvesting systems primarily rely on
mechanical vibrations and movements to generate electricity. These vibrations
are often subtle and may not provide enough energy to power devices or systems
with higher energy demands. As a result, piezoelectric energy harvesting is
more suitable for low-power and intermittent applications, such as sensors,
wireless devices, and certain IoT applications.
This limitation becomes particularly evident when
compared to other renewable energy sources like solar or wind, which can
generate significantly more power. Solar panels, for instance, can produce a
consistent supply of electricity under the right conditions, making them more
practical for larger-scale or continuous power needs. In addition to the
limited energy output, the variability of vibration sources poses another
challenge. The efficiency of piezoelectric energy harvesting is highly
dependent on the frequency and amplitude of the vibrations. In real-world
scenarios, these factors can fluctuate, affecting the consistency and
reliability of power generation. For instance, in urban environments,
vibrations from foot traffic or vehicles may not always align with the energy
needs of the devices. Moreover, the cost-effectiveness of piezoelectric energy
harvesting systems can be questioned when considering the energy output. In
some cases, the cost of implementing and maintaining these systems may outweigh
the benefits, especially when compared to more established and efficient energy
sources.
Efforts to overcome these challenges include
research into advanced materials and engineering techniques to improve energy
conversion efficiency, as well as the development of energy storage solutions
to store harvested energy for use during periods of low vibration. However,
addressing the limited energy output remains an ongoing challenge in expanding
the applicability of piezoelectric energy harvesting to a broader range of
energy-intensive applications. In summary, while piezoelectric energy
harvesting systems offer undeniable advantages in terms of sustainability and
eco-friendliness, their limited energy output remains a significant challenge.
Overcoming this limitation is crucial to unlock the full potential of
piezoelectric energy harvesting and expand its market reach beyond low-power,
intermittent applications.
Vibration Source Variability
The variability of vibration sources presents a
notable obstacle to the growth of the Global Piezoelectric Energy Harvesting
System Market. Piezoelectric energy harvesting systems, which rely on
converting mechanical vibrations and movements into electrical energy, are
highly dependent on the characteristics of these vibrations. The inconsistency
and unpredictability of vibration sources can significantly hamper the
reliability and efficiency of these systems. One of the fundamental challenges
is the irregular nature of vibrations in real-world environments. These
vibrations can vary in frequency, amplitude, and direction, making it
challenging to design piezoelectric energy harvesting systems that consistently
capture and convert this energy into electricity. For instance, in an urban
setting, foot traffic, vehicular movement, and other sources of vibrations may
occur at irregular intervals and intensities, making it difficult to predict
when and how much energy can be harvested.
Variability in vibration sources is exacerbated by
the fact that different applications and industries may have unique vibration
profiles. For example, the vibrations experienced in industrial machinery
differ from those encountered in transportation systems or consumer
electronics. This diversity of sources necessitates customized solutions and
engineering, increasing the complexity and cost of piezoelectric energy
harvesting system implementations. Moreover, the efficiency of piezoelectric
energy conversion is highly dependent on resonance frequencies. If the
vibrations do not align with the resonance frequency of the piezoelectric
materials used, the energy conversion efficiency can be suboptimal, resulting
in energy losses. Achieving resonance with varying and unpredictable vibration
sources can be a challenging task.
Reliability is another critical concern. In
applications where consistent and dependable power is required, such as in
remote monitoring devices or certain IoT applications, the variability of
vibration sources can lead to power interruptions or insufficient energy
generation. This unreliability can undermine the trust in piezoelectric energy
harvesting systems for critical applications.
Addressing the challenge of vibration source
variability requires innovative engineering solutions, adaptive algorithms, and
the development of materials and designs that can work efficiently across a
range of vibration conditions. Moreover, predictive modeling and data analytics
can play a role in better understanding and harnessing varying vibration
sources. In conclusion, the inconsistency and unpredictability of vibration
sources pose a substantial challenge to the broader adoption of piezoelectric
energy harvesting systems. Developing versatile and adaptable solutions that
can cope with these variations is essential to enhance the reliability and
effectiveness of these systems across a wide range of applications and
industries.
Material Properties
Material properties stand out as a significant
challenge in the context of the Global Piezoelectric Energy Harvesting System
Market. Piezoelectric energy harvesting systems rely on specialized materials
that can convert mechanical vibrations into electrical energy. While these
materials have unique properties that make them suitable for this purpose,
several challenges related to material properties need to be addressed to
promote the widespread adoption of these systems. One of the primary challenges
is finding materials that strike the right balance between efficiency,
durability, and cost-effectiveness. Piezoelectric materials must exhibit a high
piezoelectric coefficient, which determines their ability to efficiently
convert mechanical energy into electrical energy. Achieving high efficiency is
crucial to maximize the energy harvested from vibrations. However, materials
with superior piezoelectric properties can be expensive and challenging to
manufacture in large quantities.
Durability is another crucial factor. Piezoelectric
energy harvesting systems are often used in applications where they are exposed
to environmental factors, including temperature variations, humidity, and
mechanical stress. The materials used must withstand these conditions without
significant degradation over time. Developing materials that are both highly
piezoelectric and durable remains a challenge, particularly for long-term
applications in harsh environments. Another aspect of material properties is the
selection of appropriate materials for specific applications. Different
materials may be better suited to certain vibration frequencies or amplitudes.
The challenge lies in matching the material properties with the characteristics
of the vibration source to ensure optimal energy conversion efficiency. This
requires a deep understanding of the piezoelectric material landscape and the
ability to tailor materials to specific application requirements. Additionally,
the availability and sourcing of these materials can be a challenge. The market
demand for high-quality piezoelectric materials is increasing with the growth
of energy harvesting applications, which can lead to supply chain constraints
and price fluctuations. Furthermore, while research continues to advance
piezoelectric materials, finding sustainable and environmentally friendly
materials is becoming increasingly important, given the overarching goal of
reducing the environmental impact of energy generation.
Efforts to address these challenges involve ongoing
research into new piezoelectric materials, manufacturing techniques, and
material combinations. Researchers are working to enhance the performance,
durability, and cost-effectiveness of piezoelectric materials to make them more
attractive for a wider range of applications. In conclusion, material
properties represent a crucial challenge in the Global Piezoelectric Energy
Harvesting System Market. The development of materials that excel in terms of
efficiency, durability, and cost-effectiveness is essential to unlock the full
potential of piezoelectric energy harvesting and promote its adoption in
diverse industries and applications.
Key Market Trends
Rise in IoT and Wireless Sensor Networks
The rise in IoT (Internet of Things) and wireless
sensor networks is a compelling driving force propelling the Global
Piezoelectric Energy Harvesting System Market to new heights. This trend is
transforming the landscape of connected devices and sensors across various
industries, and piezoelectric energy harvesting systems are playing a pivotal
role in meeting the power needs of these devices. Here's how the proliferation
of IoT and wireless sensor networks is driving the market, Low-Power Device Proliferation:
IoT devices and wireless sensors are typically designed to be low-power and
energy-efficient to extend their operational lifespan. Piezoelectric energy
harvesting systems perfectly complement this requirement by providing a
sustainable and reliable source of energy for these devices.
Battery Replacement and Maintenance Reduction: In
many IoT and sensor applications, frequent battery replacements can be
logistically challenging and costly, especially for remote or inaccessible
devices. Piezoelectric energy harvesting reduces or eliminates the need for
battery replacements, reducing operational costs and maintenance efforts. Extended
Device Lifespan: IoT devices and sensors powered by piezoelectric energy
harvesting systems can operate for extended periods without interruption. This
longevity is particularly valuable in applications where consistent data
collection and communication are critical.
Environmental Sensing: IoT and wireless sensor
networks are heavily involved in environmental monitoring, such as air quality
measurement, weather stations, and pollution control. Piezoelectric energy
harvesting enables these devices to operate autonomously in remote or
environmentally sensitive areas, improving the quality and accuracy of data
collection. Smart Building and Infrastructure: In smart building applications,
piezoelectric energy harvesting can be integrated into structures to power IoT
sensors for occupancy detection, temperature monitoring, and energy management.
Similarly, in infrastructure applications, piezoelectric materials can capture
energy from structural vibrations in bridges and roads, enhancing the
efficiency of smart city initiatives. Wearable Devices: The wearable technology
market is booming, and many wearable devices incorporate IoT capabilities.
Piezoelectric energy harvesting can be used to power these wearables by
harnessing energy from the wearer's movements, reducing the need for frequent
charging.
Industrial IoT (IIoT): In industrial settings,
wireless sensor networks are used for condition monitoring, predictive
maintenance, and process optimization. Piezoelectric energy harvesting can
provide a self-sustaining power source for these sensors, ensuring continuous
data collection without downtime. Environmental Sustainability: IoT devices
powered by piezoelectric energy harvesting contribute to environmental
sustainability by reducing the reliance on disposable batteries and minimizing
electronic waste. Research and Development: The research and development
efforts in piezoelectric energy harvesting technology are driven by the growing
demand from the IoT and sensor network sectors. This results in innovations in
materials and system design that further enhance energy harvesting efficiency. In
summary, the rise in IoT and wireless sensor networks is revolutionizing
various industries, and piezoelectric energy harvesting systems are at the
forefront of this transformation. These systems offer a reliable and
sustainable solution to power the vast network of low-power devices, making
them more efficient, cost-effective, and environmentally friendly. As IoT
continues to expand, the Global Piezoelectric Energy Harvesting System Market
is poised for substantial growth.
Advancements in Piezoelectric Materials
Advancements in piezoelectric materials are poised
to be a major driving force behind the growth of the Global Piezoelectric
Energy Harvesting System Market. These materials are at the heart of
piezoelectric energy harvesting, and ongoing research and development efforts
are continuously improving their efficiency, durability, and versatility.
Here's how advancements in piezoelectric materials are shaping the market, Enhanced
Efficiency: One of the primary benefits of advanced piezoelectric materials is
their improved energy conversion efficiency. Researchers are developing
materials with higher piezoelectric coefficients, which means they can
efficiently convert mechanical vibrations and movements into electrical energy.
This higher efficiency allows piezoelectric energy harvesting systems to
generate more power from the same input, making them more practical and
cost-effective.
Expanded Frequency Range: Advanced piezoelectric
materials can operate over a broader range of frequencies, enabling them to
capture energy from a wider spectrum of vibration sources. This adaptability is
essential for various applications, from low-frequency vibrations in industrial
machinery to high-frequency vibrations in consumer electronics. Durability and
Reliability: Durability is a critical factor, especially in applications where
piezoelectric energy harvesting systems are exposed to harsh environments.
Advancements in materials have led to more robust and durable options that can
withstand temperature variations, humidity, and mechanical stress without
significant degradation. This enhances the reliability and longevity of these
systems.
Miniaturization: As the trend toward smaller and
more compact devices continues, piezoelectric materials are also evolving to
meet these demands. Advanced materials can be tailored for miniaturized
applications, allowing for the integration of energy harvesting capabilities
into smaller and more efficient devices, such as wearables and IoT sensors. Customization
and Tailoring: Researchers are developing piezoelectric materials that can be
customized and tailored to specific applications. This flexibility allows for
the optimization of materials to match the vibration characteristics and
requirements of different industries and use cases.
Sustainability: Advancements in materials are also
focusing on sustainability. Eco-friendly and lead-free piezoelectric materials
are being developed to align with environmental regulations and sustainability
goals. Cost-Effective Solutions: While high-performance materials are
essential, researchers are also exploring cost-effective solutions to make
piezoelectric energy harvesting systems more accessible. This involves finding
the right balance between performance and affordability. Integration: Advanced
piezoelectric materials can be integrated more seamlessly into various
structures and devices, enhancing their practicality and versatility. This
integration capability opens up new opportunities for energy harvesting in
infrastructure, buildings, and even clothing.
In conclusion, advancements in piezoelectric
materials are at the forefront of innovation in the Global Piezoelectric Energy
Harvesting System Market. These materials hold the key to improving the
efficiency, reliability, and sustainability of energy harvesting systems,
expanding their applicability across diverse industries and driving the
market's growth. As research in this field continues, we can expect even more
exciting developments and applications in the future.
Segmental Insights
Technology Insights
Light Energy Harvesting will
dominate the market, the piezoelectric energy harvesting system market is
segregated into light energy harvesting and electromagnetic energy harvesting.
In 2019, light energy harvesting technology held the largest share of the
energy harvesting system market. The growth of light energy harvesting is also
attributed to the increasing number of companies involved in the production of
solar products for building automation, consumer electronics, and security
applications. While electromagnetic harvesting is which converts flow energy
into electrical energy by fluid flow and electromagnetic induction. A finite
element model for estimation of the generated voltage of the energy harvester
is developed.
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Regional Insights
North America is expected to dominate the market
during the forecast period. Due to the region's ongoing and rapid technical
advancements, North America has emerged as the most critical market for
investments in building and home automation, which employ renewable energy and
propel the demand for energy harvesting systems.
The majority of the region's revenue came from the
United States. Due to the administration's intention to make the nation an energy-independent
state and the thriving industrial and transportation sectors, the industry is
anticipated to experience significant expansion.
Comparatively to other markets, the North American
market is seeing a high level of industrial IoT adoption, boosting the need for
energy harvesting systems.
Government programs to reduce energy emissions from
outdated and public buildings have also contributed to this growth. For
instance, 50 of the federal government's most energy-intensive buildings will
have installed sophisticated and smart building technology due to a deal the
U.S. General Services Administration signed with IBM.
Additionally, the smart cities project launch has
altered the local market environment. In addition to holding events to promote
collaboration and knowledge sharing amongst cities, businesses, and colleges
involved in creating smart cities around the nation, this effort also includes
various grants and funding packages.
Recent Developments
- In September 2022, E-Peas SA and Energous
Corporation announced the launch of a new Wireless Energy Harvesting Evaluation
Kit, developed for energy harvesting applications for smart buildings/smart
homes, industrial IoT medical, and asset trackers for retail and warehouses.
The kit includes the company's 1W WattUp PowerBridge transmitter, delivering an
over-the-air solution that enables device manufacturers to implement wireless
power and energy harvesting across a range of connected devices along with two evaluation
boards from e-peas: the AEM30940 RF Evaluation Board and the EP112 Energy
Harvesting Optimized Antenna Evaluation Board.
Key Market Players
- Powercast Corporation
- Texas
Instruments Incorporated
- Fujitsu
Limited
- ABB Ltd.
- Honeywell
International Inc.
- STMicroelectronics
N.V.
- EnOcean
GmbH
- Voltree
Power Inc.
- Bionic
Power Inc.
- Energy
Partners.
|
By Technology
|
By Component
|
By Region
|
- Light Energy
- Vibration
Energy
- Thermal
Energy
- Others
|
- Transducer
- Power
Management Integrated Circuit
- Storage
Systems
|
- North
America
- Europe
- South America
- Middle East
& Africa
- Asia Pacific
|
|
Report Scope:
In this report, the Global Piezoelectric Energy
Harvesting System Market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
- Global Piezoelectric Energy Harvesting System Market, By Technology:
o
Light
Energy
o
Vibration
Energy
o
Thermal
Energy
o
Others
- Global
Piezoelectric Energy Harvesting System Market, By
Component:
o
Transducer
o
Power Management
Integrated Circuit
o
Storage
Systems
- Global Piezoelectric Energy Harvesting System Market,
By Region:
o North America
§ United States
§ Canada
§ Mexico
o Asia-Pacific
§ China
§ India
§ Japan
§ South Korea
§ Indonesia
o Europe
§ Germany
§ United Kingdom
§ France
§ Russia
§ Spain
o South America
§ Brazil
§ Argentina
o Middle East & Africa
§ Saudi Arabia
§ South Africa
§ Egypt
§ UAE
§ Israel
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents in the Global Piezoelectric
Energy Harvesting System Market.
Available Customizations:
Global Piezoelectric Energy Harvesting System Market
report with the given market data, Tech Sci Research offers customizations
according to a company's specific needs. The following customization options
are available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
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