Piezoelectric Actuators and Motors Market to Garner US$ 24,752.20 million, Globally, by 2028 at 7.9% CAGR: The Insight Partners

Piezoelectric Actuators and Motors Market: Key Insights

According to our new research study on “Piezoelectric Actuators and Motors Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, 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.

In March 2021, PI (Physik Instrumente), the technology leader for piezo applications and high precision positioning technology has acquired the Japanese company P•G•W Precision Granite W Co. Ltd. The acquisition was completed on February 25th, 2021.

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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.

The global piezoelectric actuators and motors market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. In 2020, Asia Pacific held the largest revenue share of the market owing to the rapid industrialization taking place in the region. The market growth in Europe is attributed to the significant use of piezoelectric actuators and motors in the automobile industry. North America is substantially contributing to the piezoelectric actuators and motors market owing to the presence of various established industries in the region. Also, the MEA and South and Central America are contributing significantly to the market growth. Further, the rise in the production of vehicles integrated with comfort features is expected to drive the market growth during the forecast period.

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.

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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

Piezoelectric Actuators and Motors market: Product Overview

Piezoelectric actuators and motors are among important components for machineries used in industrial and manufacturing sector. They are expected to witness significant demand in the coming years. Piezoelectric motors are used in digital cameras for zooming, autofocus, and stabilization of optical images. Hence, the increasing sale of consumer electronics in Asian countries is propelling the market growth. In addition, increasing adoption of piezo motors in haptic technology used in consumer electronics is expected to boost the market growth in coming years.

Piezoelectric Actuators and Motors market: Application Overview

Many applications, such as micro-positioning stages, fiber-optic positioning, and medical catheter placement, require motors of extremely high resolution with low power consumption. Piezoelectric motor meets these requirements. When compared to a conventional motor and its associated power train, a piezoelectric motor offers various advantages, such as faster response times, far higher precision, inherent brake capability with no backlash, higher power-to-weight ratio, and smaller size. The operation of this motor is based on the use of piezoelectric materials where a material is capable of being deformed by the application of a voltage.

Piezoelectric Actuators and Motors Market: Competitive Landscape and Key Developments

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 a few key players profiled in the study of the piezoelectric sensors and motors market. The companies mentioned above are collectively holding a significant share in the market.

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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.

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