Light Energy Harvesting Segment is Expected to Dominate the Global Piezoelectric Energy Harvesting System Market
Growing Demand
for Sustainable Energy and Miniaturization and IoT Devices are the factors
propelling the market growth.
According to TechSci
Research report, “Global Piezoelectric Energy Harvesting System
Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”. The
Global Piezoelectric Energy Harvesting System 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. Emerging
technology of tire management system adopted in automobiles to conserve energy
and power-up the small sensors installed in tires by using the harvested
energy. Electric vehicles market is expected to witness promising growth in the
coming years thereby fueling the growth for global energy harvesting system
market. Government policies and initiatives for adoption of cleaner and green
power sources is fostering the market growth. Also, initiatives to lower the
carbon footprint is creating the need for minimal energy wastage thereby
surging the demand for the energy harvesting system globally. Advantage of
energy saving from efficient energy harvesting system leading to lower
electricity bills and reduction in carbon emission are the two contributing
factors aiding in the global Piezoelectric Energy Harvesting System market.
Browse over xx market data Figures
spread through 188 Pages and an in-depth TOC on " Global Piezoelectric Energy Harvesting System Market.”
Based on Technology, 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.
Based on Region, North America will
dominate the market, 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.
Key market players in the Global Piezoelectric
Energy Harvesting System Market are following: -
- 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.
- Weir Group
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“The Global Piezoelectric
Energy Harvesting System Market is being driven by several key factors.
Firstly, there is a growing demand for sustainable and eco-friendly energy
sources, spurred by environmental concerns. Piezoelectric energy harvesting
aligns perfectly with these sustainability goals, as it generates clean and
renewable energy from mechanical vibrations and movements. Secondly, the
proliferation of IoT devices and wireless sensor networks has surged,
necessitating compact and efficient power sources. Piezoelectric energy
harvesting systems cater to this demand by providing a reliable and
maintenance-free energy solution for these low-power devices. Advancements in
piezoelectric materials are another crucial driver. Ongoing research and
development efforts are enhancing the efficiency and durability of these
materials, making piezoelectric energy harvesting systems more practical and
cost-effective. Moreover, governments and industries worldwide are setting
ambitious energy efficiency targets, and piezoelectric energy harvesting
contributes to these goals by providing an energy-efficient solution. As energy
costs rise, the cost-effectiveness of piezoelectric systems becomes
increasingly attractive, driving their adoption in various applications.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
Piezoelectric
Energy Harvesting System Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Technology
(Light Energy, Vibration Energy, Thermal Energy, Others), By Component
(Transducer, Power Management Integrated Circuit, Storage Systems), By Region, By
Competition 2018-2028 has evaluated the future growth potential of Global Piezoelectric
Energy Harvesting System Market and provides statistics and information on
market structure, size, share, and future growth. The report is intended to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities
present in the Global Piezoelectric Energy Harvesting System Market.
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