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The piezoelectric actuators and motors market share is expected to increase by USD 7.61 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 7%.
This piezoelectric actuators and motors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers piezoelectric actuators and motors market segmentation by end-user (consumer electronics, automotive, and healthcare and others) and geography (APAC, North America, Europe, South America, and MEA). The piezoelectric actuators and motors market report also offers information on several market vendors, including AAC Technologies Holdings Ltd., Alps Alpine Co. Ltd., ams AG, APC International Ltd., CTS Corp., Johnson Electric Holdings Ltd., Johnson Matthey Plc, Murata Manufacturing Co. Ltd., Piezosystem Jena GmbH, and TDK Corp. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The use of thinner multilayer actuators in smartphones is notably driving the piezoelectric actuators and motors market growth, although factors such as may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the piezoelectric actuators and motors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Piezoelectric Actuators and Motors Market Driver
One of the key factors driving growth in the piezoelectric actuators and motors market is the use of thinner multilayer actuators in smartphones. The thickness of consumer electronic devices, such as smartphones is reducing. A few years back, the average thickness of a smartphone was around 10 mm. Currently, the thinnest phone available in the market is only 4.5-mm thick. These phones require small components because they are thin. Piezoelectric actuators are used in smartphones for camera operations and haptic feedback systems. A piezoelectric actuator is made of micron-scale layers of piezoelectric material. This makes piezoelectric actuators ideal for use in smartphones that require small components. The components used in smartphones operate using energy from the battery. Multilayer piezoelectric actuators consume very less power. Hence, they can be used in smartphones for efficient energy consumption. The shift toward the miniaturization of electronics is expected to lead to an increase in the use of piezoelectric actuators in smartphones and other wearables, thus driving the global piezoelectric actuators and motors market.
Key Piezoelectric Actuators and Motors Market Trend
The increasing demand for diverse applications is a piezoelectric actuators and motors market trend that is expected to have a positive impact in the coming years. The extensive use of piezoelectric actuators in the semiconductors industry and microelectronics, optics, biology, photonics, telecommunication, and metrology sectors is expected to increase the growth of the market during the forecast period. Piezoelectric actuators and motors are finding broad applications in vibration cancelation, machine tool alignment, fiber tool alignment, gene manipulation, active damping, shockwave generation, image stabilization, and wafer-mask alignment. This is expected to drive the growth of the global piezoelectric actuators and motors market during the forecast period. Piezoelectric actuators have a significant role in applications that need fine precision, low overall volume and mass, low power consumption, fast response time, and low EMI. The piezoelectric actuators and motors market is expected to grow with an increase in the demand for diverse applications.
Key Piezoelectric Actuators and Motors Market Challenge
The piezoelectric actuators being more expensive compared with ERM and LRA motors will be a major challenge for the piezoelectric actuators and motors market during the forecast period. LRA and ERM actuators have similar applications like piezoelectric actuators. Piezoelectric actuators are better than ERM and LRA actuators in terms of performance and efficiency. This is because of their ability to vibrate at a broad range of frequencies and amplitudes, which is independently controlled using the driving AC voltage. As the vibrations do not depend on the resonant frequency of the spring, the frequency can be modified freely without a significant loss of efficiency. The response rate of piezoelectric actuators is faster than LRA and ERM, and the feedback is more precise. As the ceramics in actuators are brittle, they are placed within an insulating protective material before their integration into a product. The drawbacks of piezoelectric actuators are their high cost and the complex electronics required to operate them. If LRA and ERM actuators are improved to increase their performance, they will pose a threat to piezoelectric actuators.
This piezoelectric actuators and motors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global piezoelectric actuators and motors market as a prt of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the piezoelectric actuators and motors market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the piezoelectric actuators and motors market encompasses successful business strategies deployed by the key vendors. The piezoelectric actuators and motors market is fragmented and the vendors are deploying growth strategies such as focusing on increasing their R&D investments and production capacity to compete in the market.
CTS Corp - The company offers piezoelectric actuators for inkjet printing, piezo speakers, ultrasonic cleaning used in dentistry, and piezoelectric valves.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The piezoelectric actuators and motors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the piezoelectric actuators and motors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the electrical components and equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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