Piezoelectric Actuators and Motors Market Size, Trends and Growth Analysis by 2027

The global market for piezoelectric actuators and motors is projected to expand significantly, increasing from approximately US$ 14,547.86 million in 2021 to around US$ 24,752.20 million by 2028. This growth represents a compound annual growth rate (CAGR) of 7.9% during the period from 2021 to 2028.

One of the key drivers of this market expansion is the integration of piezoelectric actuators with haptic technology, which has broadened their applications in electronic and semiconductor devices. Haptic technology enables electronic devices to simulate the sense of touch, allowing users to perceive motion, vibration, or movement. Currently, there are three primary technologies utilized in haptic feedback: eccentric rotating mass (ERM) motors, linear resonant actuators (LRA), and piezoelectric actuators. Among these, piezoelectric technology stands out due to its superior mechanical properties, including faster response times, higher acceleration, and compact size. Furthermore, piezo actuators are more energy-efficient, providing haptic solutions that consume less power compared to ERM and LRA technologies. This efficiency positions piezoelectric technology as the optimal choice for high-definition haptic solutions, creating substantial opportunities for market growth. Consequently, these factors are anticipated to drive the demand for piezoelectric actuators and motors throughout the forecast period.

The market for piezoelectric actuators and motors is categorized based on product type, application, and geographical region. In terms of product classification, the market is divided into piezo motors and piezo actuators. The piezo actuators segment accounted for a larger portion of the market share in 2020. Regarding applications, the market is segmented into various sectors, including automotive, industrial and manufacturing, medical, aerospace, consumer electronics, and other applications. The industrial and manufacturing sector represented a significant share of the market in 2020. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. In 2020, the Asia Pacific region held a substantial share of the global market.

North America is recognized as a leading region in the development and adoption of innovative technologies, supported by favorable government policies that promote innovation and enhance infrastructure capabilities. However, any setbacks in the industrial sector can adversely affect the region's economic growth. Currently, the United States is facing significant challenges due to the COVID-19 pandemic, which has underscored the industry's dependence on human labor. The recent slowdown in industrial automation and development has highlighted the advantages of factory automation, which is expected to lead to increased adoption in the post-lockdown environment. As industries return to normal operations, the demand for industrial automation components and digitalization is likely to rise, driven by the need to remain competitive in the global market. Therefore, the piezoelectric actuators and motors market is anticipated to experience steady growth in the aftermath of the pandemic.

The overall size of the piezoelectric actuators and motors market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aimed to provide an overview and forecast of the piezoelectric actuators and motors market across all segments. Additionally, primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants included industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the piezoelectric actuators and motors sector.

Several prominent players in the global piezoelectric actuators and motors market include 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 piezosystem jena GmbH.