Piezoelectric Actuators and Motors Market worth $ 24,752.20 Million by 2028 – Exclusive Research by The Insight Partners

Integration of Piezoelectric Actuators with Haptic Technology to Provide Growth Opportunities for Piezoelectric Actuators and Motors Market during 2021–2028

NEW YORK, UNITED STATES, November 18, 2021 /EINPresswire.com/ — According to our latest market study on “Piezoelectric Actuators And Motors Market Forecast to 2028 – COVID -19 Impact and Global Analysis – by Product (Piezo Motors and Piezo Actuators) and Application (Automotive, Industrial and Manufacturing, Medical, Aerospace, Consumer Electronics, and Others), 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.

Strategic Insights

Report Coverage: Details
Market Size Value in: US$ 14,547.86 Million in 2021
Market Size Value by: US$ 24,752.20 Million by 2028
Growth rate: CAGR of 7.9% from 2021-2028
Forecast Period: 2021-2028
Base Year: 2021
No. of Pages: 167
No. Tables: 115
No. of Charts & Figures: 78
Historical data available: Yes
Segments covered: Product, Application, and Geography
Regional scope: North America; Europe; Asia Pacific; Latin America; MEA
Country scope: US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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With the integration of piezoelectric actuators with haptic technology, the applications of piezo actuators have 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 and linear resonant actuator (LRA), and piezoelectric. Among the mentioned technologies, piezoelectric technology holds the edge over the rest, owing to its mechanical advantages such as faster response time, greater acceleration, and smaller size.  In addition, piezo actuators are more power-efficient and provide haptic solutions with less power consumption compared to ERM and LRA technology.

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.

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 semiconductors. 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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The outbreak of the COVID-19 pandemic has led to disruptions in primary industries including automotive, industrial and manufacturing, consumer electronics, and semiconductors. 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.

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 among the key players in the global Piezoelectric Actuators and Motors market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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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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Source: EIN Presswire