North America Piezoelectric Actuators and Motors Market Key Players and Opportunities by 2028
North America Piezoelectric Actuators and Motors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Piezo Motors and Piezo Actuators) and Application (Automotive, Industrial and Manufacturing, Medical, Aerospace, Consumer Electronics, and Others)
- Status : Published
- Report Code : TIPRE00025353
- Category : Electronics and Semiconductor
- No. of Pages : 115
- Available Report Formats :
- Last update date : October 11, 2021
2021 Market Size
US$ 3,077.48 Mn
Base year value
2028 Forecast
US$ 5,103.71 Mn
Projected by 2028
CAGR 2022-2028
7.5 %
Growth rate
Addressable Market
US$ 29,071.02 Mn
(2022-2028)
The piezoelectric actuators and motors market in North America is expected to grow from US$ 3,077.48 million in 2021 to US$ 5,103.71 million by 2028; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028.
The US, Canada, and Mexico are major economies in North America. Rising demand of piezoelectric technology is the major factor driving the growth of the North America piezoelectric actuators and motors market. 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 in North America.
North America is one of the leading regions in terms of the development and adoption of new technologies due to favorable government policies that boost innovation and strengthen the infrastructure capabilities. Hence, any impact on the growth of industrial sector hampers the economic growth of the region. Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak. The industry's reliance on human labor has been highlighted by the recent pause in industrial automation and development. This is expected to showcase the benefits of factory automation in the post-lockdown phase, leading to increased adoption. The overall demand for industrial automation components and digitalization is likely to increase once the industries attain normal operational conditions. These technologies are a need amid high market competition worldwide. Hence, the piezoelectric ultrasonic transducer and actuators sector is projected to grow at a steady pace in the post-pandemic period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America piezoelectric actuators and motors market. The North America piezoelectric actuators and motors market is expected to grow at a good CAGR during the forecast period.
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North America Piezoelectric Actuators and Motors Market Segmentation
North America Piezoelectric Actuators and Motors Market – By Product
- Piezo Motors
- Piezo Actuators
North America Piezoelectric Actuators and Motors Market – By Application
- Automotive
- Industrial and Manufacturing
- Medical
- Aerospace
- Consumer Electronics
- Others
North America Piezoelectric Actuators and Motors Market, by Country
- US
- Canada
- Mexico
North America Piezoelectric Actuators and Motors Market - Companies Mentioned
- APC International, Ltd.
- CEDRAT TECHNOLOGIES
- FAULHABER Group
- Johnson Electric Holdings Limited
- Microfine Materials Technologies Pte Ltd
- Physik Instrumente (PI) GmbH & Co. KG.
- PiezoMotor Uppsala AB
- piezosystem jena GmbH
- TDK Corporation
North America Piezoelectric Actuators and Motors Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 3,077.48 Million |
| Market Size by 2028 | US$ 5,103.71 Million |
| CAGR (2021 - 2028) | 7.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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