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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.
The various piezoelectric material used to generate electricity from mechanical stress includes quartz, polyvinylidene fluoride, aluminum nitride, zinc oxide, lead zirconate titanate, barium titanate, tourmaline, gallium orthophosphate, and berlinite among others.
The market is anticipated to witness growth on account of the increasing demand for efficient and durable systems with minimal operational cost. An increase in government and private partner investments along with favorable environmental norms will positively influence the industry outlook. Moreover, global inclination towards renewable energy usage along with consumer awareness for technological innovation will augment the business growth.
Based on technology, 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 components, the market is bifurcated into transducers and secondary batteries. Transducers convert ambient energy into electricity to power electronic devices. Transducers are designed using various technologies such as piezoelectric, photovoltaic, electromagnetic, radiofrequency, and thermoelectric. Whereas secondary batteries, often called rechargeable batteries, can be used, discharged, and then restored to their original condition by reversing the current flow (charging).
The rising need to curb carbon emissions is a major driver for the global energy harvesting system market. One of the simplest ways to reduce carbon footprint is to minimize energy wastage. Moreover, consumers are contemplating the use of devices based on energy harvesting technology for various benefits, as the energy harvested from renewable energy sources dramatically lowers electricity bills and shrinks individual contribution to the carbon footprint. Thus, the growing focus on carbon footprint reduction is expected to continue pushing the demand for devices based on energy harvesting technologies.
Lack of awareness among consumers is observed to hinder the energy harvesting system market growth. Though there have been some noticeable marketing activities by major energy harvesters in recent years, the effect on the sales of such products has been less than expected. Thus, limited consumer awareness on the availability and usage of the devices based on harvested energy is one of the key barriers to the mass-market acceptance of such products.
Key Market Driver -
Increasing awareness to curb Carbon emissions
Key Market Restraint -
Lack of awareness among consumers to hinder the growth
Major companies operating in the piezoelectric energy harvesting system market include Arveni, Convergence Wireless, Cymbet Corporation, Powercast Corporation, Texas Instruments Incorporated, Fujitsu Limited, ABB Ltd., Honeywell International Inc., STMicroelectronics N.V., EnOcean GmbH, Voltree Power Inc., Bionic Power Inc., and Energy Partners.
The piezoelectric energy harvesting system market has been segregated into five key regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among all regions, North America is expected to be the fastest-growing energy harvesting system market. Besides, APAC is expected to demonstrate robust growth as a market. The market in these regions is mainly driven by the increase in demand for energy-efficient components and peripherals from the industrial sector; development of advanced energy harvesting systems, particularly in developing countries such as India and China; and huge spending by regional governments to drive the adoption of energy harvesting systems in public and private spaces.
Asia-Pacific on the other hand is projected to score the highest growth rate during the forecast period owing to the increasing need, demand, awareness, and adoption of energy harvesting systems. An increase in the level of consumer electronics in this region has also bolstered the market growth.
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