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

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Electronics and Semiconductor Piezoelectric Actuators and Motors Market
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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

Publication Month: Aug 2021 | Report Code: TIPRE00014704 | No. of Pages: 167 | Category: Electronics and Semiconductor | Status: Published

The 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% during 2021–2028.

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 negatively.

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.

Lucrative Regions for Piezoelectric Actuators and Motors Providers

Lucrative Regions for Piezoelectric Actuators and Motors Providers

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Piezoelectric Actuators and Motors Market Insights

Increasing Adaptability of Piezoelectric Actuators and Motors in Automotive Industry Fuels Growth of Piezoelectric Actuators and Motors Market

The rising application of piezoelectric actuators and motors in automotive systems is fostering market growth globally. Piezoelectric actuators convert an electrical signal into mechanical movement; hence, they are widely used for adjusting mirrors, lenses, and other automotive parts. Also, piezoelectric technology is being widely used in fuel injectors. With the help of this technology, the fuel injection accuracy has increased, and the injector leakage has reduced significantly, compared to the conventional technologies. This has resulted in increased fuel efficiency of commercial and passenger vehicles, with less carbon emission. Further, the additional application of piezoelectric has been witnessed in fuel pumps, high-speed valves, keyless door entry, seat belt buzzers airbag sensors, airflow sensors, and tire pressure sensors, among others. Also, piezoelectric actuators have been largely used by automobile companies, specifically in the suspension system and seat adjustment controls of vehicles. Moreover, piezoelectric actuators are finding applications in the braking systems of electric vehicles. Thus, the increasing adaptability of piezoelectric actuators and motors in the automotive sector is driving the piezoelectric actuators and motors market across the globe.

Product-Based Market Insights

Based on product, the piezoelectric actuators and motors market is bifurcated into piezo motors and piezo actuators. In 2020, the piezo actuators segment accounted for a larger share in the market.   
  

Piezoelectric Actuators and Motors Market, by Type, 2020 and 2028 (%)

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Application-Based Market Insights

Based on application, the piezoelectric actuators and motors market is segmented into automotive, industrial and manufacturing, medical, aerospace, consumer electronics, and other applications. In 2020, the industrial and manufacturing segment accounted for the largest market share.

Strategic Insights

Report Coverage - Piezoelectric Actuators and Motors Market
Report CoverageDetails
Market Size Value inUS$ 14,547.86 Million in 2021
Market Size Value byUS$ 24,752.20 Million by 2028
Growth rateCAGR of 7.9% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages167
No. of Tables115
No. of Charts & Figures78
Historical data availableYes
Segments coveredProduct , Application , and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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The players operating in the piezoelectric actuators and motors market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In Turkey, FAULHABER is represented by its new distribution partner: EDEL Teknoloji Sistemleri. With effect from August 1st, 2019, EDEL Teknoloji Sistemleri San. Ve Tic. Ltd. Sti., based in Izmir, has taken over the distribution of FAULHABER Drive Systems’ products.
  • In March 2021, PI (Physik Instrumente), a technology leader for piezo applications and high precision positioning technology, acquired the Japanese company P•G•W Precision Granite W Co. Ltd. The acquisition was completed on February 25th, 2021.

The global piezoelectric actuators and motors market has been segmented as mentioned below:


By Product

  • Piezo Motors
  • Piezo Actuators


By Application

  • Automotive
  • Industrial and Manufacturing
  • Medical
  • Aerospace
  • Consumer Electronics
  • Others


By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • APC International, Ltd.
  • CEDRAT TECHNOLOGIES
  • FAULHABER Group
  • Johnson Electric Holdings Limited
  • Microfine Materials Technologies Pte Ltd
  • Physik Instrumente (PI) GmbH & Co. KG.
  • Piezo Electric Technology Co., Ltd.
  • PiezoMotor Uppsala AB
  • TDK Corporation
  • piezosystem jena GmbH

Frequently Asked Questions

What are reasons behind piezoelectric actuators and motors market growth?
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.
What are market opportunities for piezoelectric actuators and motors market?
With the integration of piezoelectric actuators with haptic technology the applications of piezo actuators has been increased in various electronics and semiconductors devices. Haptic technology involves enabling an electronic device to stimulate the human sense of touch by allowing humans to feel motion, vibration, or movement. At present, there are three mainstream technologies in haptic – eccentric rotating mass (ERM), motor, linear resonant actuator (LRA), and piezoelectric.
Which product is expected to dominate the market in the forecast period?
Piezoelectric actuators are precision ceramic actuators which convert electrical energy directly into linear motion with high speed, force, and virtually unlimited resolution. A piezoelectric actuator has no moving parts, like gears or bearings. Its displacement is based on crystalline solid dynamics and shows no wear and tear. Piezoelectric actuator can be used to control hydraulic valves, act as a small-volume pump or special-purpose motor, and in other applications requiring movement or force.
Which sector is expected to dominate the market in the forecast period ?
Industrial and manufacturing sector is one of the major consumers of piezoelectric actuators and motors. Piezoelectric actuators are widely used in industrial diesel engines as a fuel injectors that control high-pressure fluids and supply in precise metered fuel which makes diesel engine fuel efficient and help to reduce carbon emission. Further, piezoelectric actuators are highly used in optical adjustment and some fiber optic converters uses piezoelectric actuators to modulate the output of a laser. Similarly, piezoelectric actuators are extensively used for ultrasonic cleaning, ultrasonic welding, and for fast response solenoids.
Which region is expected to dominate the piezoelectric actuators and motors market in the forecast period ?
The presence of emerging economies and the rise in the adoption of advanced and sophisticated technologies are contributing to the overall growth of the APAC region. China, Japan, Australia, India, and South Korea are the major contributors to the development of the piezoelectric actuators and motors market in the region. Rapid technological developments, digitalization of economies, and adequate government support for setting up manufacturing industries are contributing to the smooth evolution of these economies from the developing stage to the developed stage.
What trends are expected to drive the demand for various piezoelectric actuators and motors?
In modern times, consumers are inclining toward lightweight and high-performing electronic devices, with a reduced size. Piezoelectric actuators are playing a significant role to meet the evolving needs of consumers and setting future trends in various industries. For example, consumer electronic goods is one of the fastest-growing industries, and it is evolving every day with the introduction of some new features and technology in devices such as smartphones, tablets, and laptops.

The List of Companies - Piezoelectric Actuators and Motors Market

  1. APC International, Ltd.
  2. CEDRAT TECHNOLOGIES
  3. FAULHABER Group
  4. Johnson Electric Holdings Limited
  5. Microfine Materials Technologies Pte Ltd
  6. Physik Instrumente (PI) GmbH & Co. KG.
  7. Piezo Electric Technology Co., Ltd.
  8. PiezoMotor Uppsala AB
  9. TDK Corporation
  10. piezosystem jena GmbH
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