Piezoelectric Actuators and Motors Market Forecast (2024-2031)
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.
Piezoelectric Actuators and Motors Market Analysis
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.
Piezoelectric Actuators and Motors Market Industry Overview
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.
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Piezoelectric Actuators and Motors Market: Strategic Insights
Piezoelectric Actuators and Motors Market
-
CAGR (2023 - 2031)
8.9%
-
Market Size 2023
US$ 16.93 Billion
-
Market Size 2031
US$ 33.59 Billion
Market Dynamics
GROWTH DRIVERS
- Reliability & cost-effectiveness of piezoelectric actuators & motors, Growing application in medical sector
FUTURE TRENDS
- Miniaturization of piezoelectric devices
OPPORTUNITIES
- Increasing Demand from Numerous Industries
Key Players
- 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
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Product
- Piezo Motors
- Piezo Actuators
Application
- Automotive
- Industrial and Manufacturing
- Medical
- Aerospace
- Consumer Electronics
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Piezoelectric Actuators and Motors Market: Strategic Insights
-
CAGR (2023 - 2031)8.9% -
Market Size 2023
US$ 16.93 Billion -
Market Size 2031
US$ 33.59 Billion
Market Dynamics
- Reliability & cost-effectiveness of piezoelectric actuators & motors, Growing application in medical sector
- Miniaturization of piezoelectric devices
- Increasing Demand from Numerous Industries
Key Players
- 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
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Piezo Motors
- Piezo Actuators
- Automotive
- Industrial and Manufacturing
- Medical
- Aerospace
- Consumer Electronics
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Piezoelectric Actuators and Motors Market Driver and Opportunities
Growing Application in the Medical Sector to Favor Market Growth
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.
Increasing Demand from Numerous Industries
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.
Piezoelectric Actuators and Motors Market Report Segmentation Analysis
The key segments that contributed to the derivation of the piezoelectric actuators and motors market analysis are installation and end user.
- By Product, the market is divided into piezo motors and piezo actuators.
- Based on application, the market is divided into automotive, industrial and manufacturing, medical, aerospace, consumer electronics, and others.
- In 2023, piezo actuators held the principal market share and are expected to grow at a significant CAGR during the forecast period.
Piezoelectric Actuators and Motors Market Share Analysis By Geography
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.
Piezoelectric Actuators and Motors Market Report Scope
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 - Piezo Motors
- Piezo Actuators
By Application - Automotive
- Industrial and Manufacturing
- Medical
- Aerospace
- Consumer Electronics
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key 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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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 |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Piezoelectric Actuators and Motors Market News and Recent Developments
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:
- TDK Corporation launched two new piezo actuators made of RoHS-compatible lead zirconate titanate (PZT) with an internal copper electrode. COM30S5 (B58004M4030A020) and COM45S5 (B58004M4040A020) are available as unhoused, passivated components. An extraordinary dynamic range, a high force-to-volume ratio, and precision in the nanometer range characterize them. (Source: TDK Corporation, Press Release, September 2023)
Piezoelectric Actuators and Motors Market Report Coverage & Deliverables
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-
- Piezoelectric actuators and motors market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Piezoelectric actuators and motors market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Piezoelectric actuators and motors market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the piezoelectric actuators and motors market
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product , Application , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.