Global Piezo Actuators Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Piezo Actuators Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Piezo Actuators are transducers that convert electrical energy into a mechanical displacement or stress based on a piezoelectric effect. They have been used widely as a high precision positioning mechanism since it can control a small mechanical displacement at high speed, with the advantages of large generated force, stable displacement, and ease of use.

Market Overview:

The latest research study on the global Piezo Actuators market finds that the global Piezo Actuators market reached a value of USD 738.21 million in 2022. It’s expected that the market will achieve USD 1113.05 million by 2028, exhibiting a CAGR of 7.08% during the forecast period.

Influence of COVID-19 Outbreak on Piezo Actuators Industry Development

Globally, 6.35 million people have died since the outbreak began, and the toll continues to rise. At present, the Global economy continues to recover, but due to supply chain disruptions, the uncertainty of the epidemic has increased, the uncertainty of global economic recovery has increased, and the momentum of recovery has weakened. It's the worst global recession in decades, despite a massive government effort to fight it, backed by fiscal and monetary policy. But in the longer term, a severe recession triggered by the pandemic is expected to lead to a prolonged downturn in the economy by reducing investment. The recession could get worse if the COVID-19 outbreak continues, if restrictions on liquidity are extended or reintroduced, or if economic activity is disrupted for a prolonged period. Businesses may struggle to service debt, and increased risk aversion could lead to higher borrowing costs.

Drivers

Given its simple design, minimal moving parts, lubrication-free operation and high reliability. Piezo Actuators are used in a variety of industrial, automotive, medical, aerospace, aerospace and consumer electronics applications.

For example, Piezo Actuators are widely used in ultra-precision positioning control, ultra-precision measurement and ultra-precision machining with micron and sub-micron precision. The main principle is to use Piezo Actuators under the action of a small electric field, the elongation of piezoelectric ceramics and the applied voltage are approximately linearly related, and its resolution accuracy is high and the only feature. In addition, Piezo Actuators are also widely used in micro-machines as driving power components. It can mainly include micro robots, micro air vehicles, micro grippers, piezoelectric ultrasonic motors, micro pumps, micro valves, etc. In the field of consumer electronics, Piezo Actuators are widely used in smartphones, tablet computers, game consoles, etc. Mainly used in acousto-optic modulators to refine laser frequencies. Also, in the medical field, precise patient movements in CT and MRI machines are controlled by Piezo Actuators. In general, Piezo Actuators are widely used. With the continuous development of technology and economy, the demand for various precision instruments and micro-machines is increasing. Therefore, the widespread application of Piezo Actuators is one of the driving factors driving the development of the industry.

Limitations

Piezo Actuators are high precision electronically controlled positioning elements. Piezo Actuators are currently used in many microsystems. These types of actuators are designed based on the piezoelectric effect. However, a major limitation of Piezo Actuators is that they exhibit a rate-independent hysteresis between input voltage and output displacement. If this lagging dynamics is not properly compensated, positioning accuracy can be severely degraded. In fact, the presence of hysteresis in a control system can lead to oscillations and even system instability. In general, the rate-independent hysteresis exhibited between input voltage and output displacement is a technical challenge for Piezo Actuators products. This also brings challenges to the development of the industry.

Opportunities

As governments around the world continue to increase investment in the aviation sector, the market size of the aviation sector continues to expand. In addition, the growing market for aircraft manufacturing owing to growing travel and tourism development in emerging economies and increasing demand to replace outdated aircraft with newer, more fuel-efficient advanced aircraft is also propelling the aviation segment market size growth. At the same time, with the development of science and technology, more and more sensors, actuators and engines based on piezoelectric technology are used in the aviation field. Benefiting from its air and space certification and high output energy density, Piezo Actuators are increasingly being deployed in aircraft applications. For example, in aircraft, Piezo Actuators are mainly used in different parts of the aircraft to damp unwanted vibrations. In addition to Piezo Actuators, which can reduce the noise level of helicopters, the technology is also used in wind turbines, thrusters, fuel injection and valves. In general, as the market size of the aviation sector continues to expand, the demand for Piezo Actuators will continue to increase. This will be one of the opportunities for the development of the industry.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

TDK Corporation is one of the major players operating in the Piezo Actuators market, holding a share of 18.14% in 2022.

TDK Corporation is a global leader in electronic solutions for a smart society, headquartered in Tokyo, Japan. TDK's comprehensive, innovation-driven product portfolio includes passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetic, high frequency, piezoelectric and protective devices. The product range also includes sensors and sensor systems such as temperature and pressure, magnetic and MEMS sensors. In addition, TDK provides power and energy equipment, magnetic heads, and more. These products are sold under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda.

KEMET is a subsidiary of YAGEO Corporation and part of the YAGEO Group. The company's products include aluminum electrolytic capacitors, ceramic capacitors, EMI filters, film capacitors, tantalum capacitors, super capacitors, flexible suppression sheets, metal composite inductors, miniature signal relays, etc.

Segmentation Overview:

Among different product types, Piezoelectric Ceramic segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Aerospace segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Piezo Actuators market covered in Chapter 3:

NGK Electronics Devices Inc
Piezo Systems Inc.
Thorlabs, Inc.
Aerotech Inc.
TAIYO YUDEN
Kinetic Ceramics
Physik Instrumente (PI) GmbH & Co. KG
CEDRAT TECHNOLOGIES
APC International, Ltd
Elpa Company
TDK Corporation
piezosystem jena GmbH.
Omega Piezo Technologies
Murata Manufacturing
KEMET(TOKIN Corporation)
Noliac

In Chapter 4 and Chapter 14.2, on the basis of types, the Piezo Actuators market from 2018 to 2029 is primarily split into:

Piezoelectric Ceramic
Piezoelectric Composite
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Piezo Actuators market from 2018 to 2029 covers:

Automotive
Aerospace
Industrial & Manufacturing
Consumer Electronics
Healthcare

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)