The electroacoustic conversion efficiency of the ultrasonic transducer is a critical performance index for high-power applications. The material properties, volume fraction (VF) and aspect ratio (AR) are typically regarded as the design parameters of the piezocomposite transducer. We hypothesized that the spacing between piezoelectric rods was also a dominant factor. Therefore, the inter-rod coupling effects on the efficiency of 1–3 piezocomposite ultrasonic transducers were investigated in this study. The efficiencies of six flat and three curved 1.0 MHz PZT4 epoxy composite transducers with different geometric parameters were measured. Finite element transient analyses of the inter-rod electrical-mechanical coupling in the composites were carried out to explain the measured results. The experimental results showed that for 0.47 AR, the 79% VF transducers had lower efficiency than the 64% VF and 53% VF transducers. For 0.19 AR, the efficiency of the 59% VF transducer was not greater than the efficiency of the 39% VF transducer. Numerical analyses demonstrated that the positive peak voltage induced by the coupling of the side rods was more than twice the level induced by the coupling of the diagonal rods for any spacing. The diagonal coupling voltage peak did not change for spacings larger than 0.2 mm. Moreover, for spacings of 0.05 and 0.1 mm, the inter-rod coupling caused 24% and 20% waveform shifts of the driving voltage, respectively, while the 0.2 mm spacing coupling caused a 14% reduction in the amplitude of the driving voltage. As a result, the asymmetry of the driving voltage degraded the efficiency of the composite transducers and became more severe when the spacing was decreased. We concluded that the efficiency loss induced by inter-rod coupling as a function of spacing should be considered when designing piezocomposite transducers.