The piezoelectric actuators and motors market is projected to grow from US$ 16.93 billion in 2023 to US$ 33.59 billion by 2031; it is expected to expand at a CAGR of 8.9% from 2023 to 2031. Miniaturization of piezoelectric devices is expected to be a key trend in the market.
Compact size, high precision, very high speed, very long lifetime, self-locking, integrated controller, relatively low cost, unlimited travel range, noiseless operation, and low power consumption are some of the advantages of low-voltage piezoelectric actuators and motors. Owing to these advantages adoption of piezoelectric actuators and motors in numerous industries, such as automotive, industrial and manufacturing, medical, aerospace, consumer electronics, and others, is expected to grow during the forecast period.
The piezoelectric actuators rely on piezoelectric materials, which are known as smart materials because they can change dimension when an electrical field is applied to them. Hence, unlike electromagnetic actuators that produce forces from a distance onto a mechanical load, piezoelectric actuators leverage the strains and stresses induced within the matter by the inverse. A piezoelectric motor is a device that generates a linear or rotary motion using the converse piezoelectric effect. Piezoelectric motors and actuators are used in a variety of precision motion control applications. Thus, the demand for piezoelectric actuators and motors is expected to grow during the forecast period.
Medical device makers are increasingly choosing piezoelectric motors and actuators over standard electromagnetic motors since the former have inherent advantages in medical device design. Piezoelectric devices are used in a variety of medical applications, including ultrasound transducers, artificial insemination, micro-monitoring, surgical equipment, MRI-compatible robots, and cell permeation. Piezoelectric devices can also be used to handle medical materials, including drug delivery devices, pick-and-place systems, 3D scanning, and laser beam control in dermatology, ophthalmology, and cosmetic surgery. Thus, demand for piezoelectric motors and actuators from the medical sector is expected to grow during the forecast period.
Piezoelectric actuators transform electrical signals into mechanical movements and are used to adjust mirrors, lenses, and other car components. Further, piezoelectric motors are commonly used for focusing systems in camera lenses and precision motion control in specialized applications like microscopy. Thus, increasing demand for piezoelectric motors and actuators from numerous industries, such as consumer electronics, aerospace, and semiconductor, automotive, among others, is anticipated to create lucrative opportunities for market growth during the forecast period.
The key segments that contributed to the derivation of the piezoelectric actuators and motors market analysis are installation and end user.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
North America accounted for a significant share of the piezoelectric actuators and motors market in 2023. The presence of numerous manufacturers of piezoelectric materials and the growing adoption of piezoelectric actuators and motors in the aerospace and defense sector are the major driving factors of the market in this region. On the other hand, Asia Pacific held a substantial share of the market in 2023. Growing demand for piezoelectric actuators and motors from the automotive and manufacturing industry is expected to boost the regional market growth during the forecast period.
The regional trends and factors influencing the Piezoelectric Actuators and Motors Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Piezoelectric Actuators and Motors Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 16.93 Billion |
| Market Size by 2031 | US$ 33.59 Billion |
| Global CAGR (2023 - 2031) | 8.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Piezoelectric Actuators and Motors Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Piezoelectric Actuators and Motors Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The piezoelectric actuators and motors market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Piezoelectric Actuators and Motors Market are listed below:
The piezoelectric actuators and motors market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Piezoelectric Actuators and Motors Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
The reliability & cost-effectiveness of piezoelectric actuators & motors and their growing application in the medical sector are the major factors driving the piezoelectric actuators and motors market.
The global piezoelectric actuators and motors market is expected to grow at a CAGR of 8.9% during the forecast period 2024 - 2031.
The leading players operating in the piezoelectric actuators and motors market are 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, and piezo system jena GmbH.
The piezoelectric actuators and motors market size is projected to reach US$ 33.59 billion by 2031.
North America is expected to dominate the piezoelectric actuators and motors market with the highest market share in 2023.
Miniaturization of piezoelectric devices to play a significant role in the global piezoelectric actuators and motors market in the coming years.