Piezoelectric Actuators and Motors Market is expected to reach US$ 24,752.20 Mn by 2028

Integration of Piezoelectric Actuators with Haptic Technology to Provide Growth Opportunities for Piezoelectric Actuators and Motors Market during 2021–2028

According to our latest market study on “Piezoelectric Actuators And Motors Market Forecast to 2028 – COVID -19 Impact and Global Analysis – by Product (Piezo Motors and Piezo Actuators) and Application (Automotive, Industrial and Manufacturing, Medical, Aerospace, Consumer Electronics, and Others), and Geography. The global piezoelectric actuators and motors market is expected to grow from US$ 14,547.86 million in 2021 to US$ 24,752.20 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

From the past few years, the healthcare sector has witnessed a significant improvement in the design of medical equipment, along with better-streamlined functionality and performance. This, in turn, has improved the medical treatment methods. For example, piezoelectric transducers are used in ultrasonic dental scalers for ultrasonic removal of plaque and calculus, which is a more efficient method than traditional scalers.  Similarly, piezoelectric ceramic components are increasingly being used in high-intensity focused ultrasound (HIFU) for the removal of tumors, as it is a minimally invasive and gentle treatment method with improved therapy success and fewer side effects in the human body. Also, piezoelectric technology is applied in ultrasonic surgery instruments that vibrate typically at 55 kHz, creating a wave of mechanical energy. This ultrasonic energy is transferred from a blade to tissue molecules, and the vibration improves the cutting and leads to better coagulation of the tissue, thereby reducing bleeding. Similarly, piezoelectric technology is applied in other medical devices such as ultrasound scanners for medical imaging and magnetic resonance imaging (MRI) systems as the actuator movement does not produce magnetic fields. Besides, piezoelectric actuators and pumps are extensively used in the lab and medical pumping and dosing equipment due to their precise, repeatable, and reliable fluid dispensing control. Furthermore, in modern times, economized multi-layer piezoelectric actuators are extensively used in medical devices, including medical pumps and hearing aids. Hence, the growing application of piezoelectric actuators in medical devices is proliferating the piezoelectric actuators and motors market growth globally.

Impact of COVID-19 Pandemic on Piezoelectric Actuators and Motors Market

The COVID-19 outbreak pandemic has led to disruptions in primary industries, such as automotive, industrial and manufacturing, consumer electronics, and semiconductor. Due to the pandemic, a sharp decline in the growth of these industries is limiting the growth of the piezoelectric actuators and motors market. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the spread of infection have negatively impacted manufacturing, supply, and sale of piezoelectric actuators and motors product.

Amid the COVID-19 pandemic, healthcare business has increased significantly owing to the surge in demand for medical treatments. This development has stabilized the use of piezoelectric actuators at some extent. Hence, the pandemic negatively impacted the piezoelectric actuators and motors market during the first two quarter of 2020. Piezoelectric actuators are widely adopted in the automotive, consumers electronic, industrial machineries, and aerospace industries. Thus, with the continuation of economic activities, the global market is projected to witness recovery in the demand for piezoelectric actuators in the coming months and the subsequent years.

APC International, LTD.; Johnson Electric Holdings Limited; Microfine Materials Technologies PTE LTD; Piezo Electric Technology CO., LTD.; TDK Corporation; PI (PHYSIK INSTRUMENTE) L.P.; and PIEZOMOTOR UPPSALA AB are among the key market players. These companies are collectively holding a significant share in the piezoelectric sensors and motors market.

Piezoelectric Actuators and Motors Market — by Geography (2020- 2028, %)

---

Piezoelectric Actuators and Motors Market to Grow at a CAGR of 7.9% to reach US$ 24,752.20 Million from 2020 to 2028

Download Free Sample

---

Piezoelectric Actuators and Motors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Piezo Motors and Piezo Actuators), Application (Automotive, Industrial and Manufacturing, Medical, Aerospace, Consumer Electronics, and Others), and Geography

The global piezoelectric sensors and motors market is bifurcated on the basis of product and application. Based on product, the market is bifurcated into piezo motors and piezo actuators. The piezo motors segment is further bifurcated into piezo linear motors and piezo rotary motors. Similarly, the piezo actuators segment is classified into stack actuators, strip actuators, and others. In terms of application, the market is segmented into automotive, industrial and manufacturing, medical, aerospace, consumer electronics, and others. Based on geography, the piezoelectric sensors and motors market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). These regions are further sub-segmented into countries. North America region is comprising  the US, Canada, and Mexico. Europe region is including Germany, France, Italy, the UK, Russia, and rest of Europe. APAC region consists China, Japan, India, South Korea, Australia, and rest of Asia-Pacific countries. MEA region includes South Africa, Saudi Arabia, UAE, and rest of Middle East and Africa. Similarly, SAM region comprises Brazil, Argentina, and rest of South America