With CAGR of 7.9% , Piezoelectric Actuators and Motors is expected to grow to US$ 24,752.20 million by 2028.

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 various established industries in the region. Also, the MEA and South and Central America regions are contributing significantly to the global piezoelectric actuators and motors market growth. Further, the rise in the production of vehicles integrated with comfort features is expected to help the market growth. The growth of the piezoelectric actuators and motors market in the APAC region can be attributed to rising industrialization and the growing automotive sector. In addition, the region comprises major automotive manufacturers across China, India, and Japan. Honda, Hyundai Motors, Tata Motors, Mitsubishi, and Kia are among the major end users of piezoelectric actuators in the region. Further, China is expected to hold the largest market share in the Asia Pacific market due to the high production of these automobiles. Based on geography, the piezoelectric actuators and motors market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

FAULHABER Group, Johnson Electric Holdings Limited, Physik Instrumente (PI) GmbH & Co. KG., PiezoMotor Uppsala AB and TDK Corporation– Prominent Market Participants in Piezoelectric Actuators and Motors Market

FAULHABER Group, Johnson Electric Holdings Limited, Physik Instrumente (PI) GmbH & Co. KG., PiezoMotor Uppsala AB and TDK Corporation are among the well-known players operating in the global piezoelectric actuators and motors market and are focused on mergers, acquisitions, initiatives and innovations. In Turkey, FAULHABER is represented by its new distribution partner: EDEL Teknoloji Sistemleri. With effect from 1st of August 2019, EDEL Teknoloji Sistemleri San. Ve Tic. Ltd. Sti., based in Izmir, has taken over the distribution of FAULHABER Drive Systems’ products. 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.

The outbreak of COVID-19 pandemic has led to disruptions in primary industries including automotive, industrial and manufacturing, consumer electronics, and semiconductor. A sharp decline in the growth of mentioned industries due to the pandemic is limiting the piezoelectric actuators and motors market growth. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have impacted manufacturing, supply, and sales 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. However, the demand resumed with the continuation of economic activities. Thus, the global market is projected to recover its demand in the coming months and the subsequent years as piezoelectric actuators more widely adopted in the automotive, consumers electronic, industrial machineries, and aerospace industries.The top five companies in the market are FAULHABER Group, Johnson Electric Holdings Limited, Physik Instrumente (PI) GmbH & Co. KG., PiezoMotor Uppsala AB and TDK Corporation. The above listing of key players is derived by considering multiple factors such as overall revenue, current piezoelectric actuators and motors portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below: