Analysis of Piezoelectric Motor market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global piezoelectric motor market is poised to embark on a modest growth trajectory, expanding at a CAGR of over 4% in the forecast period (2020-2030). This is attributed to the growing trend of miniaturization and greater focus on piezoelectric working principles.
Miniaturization is a key trend across industry verticals, and is predominant with medical devices, automotive components, and consumer electronics. Miniaturization has necessitated the use of piezoelectric motors and the trend is likely to continue over the coming years.
However, the COVID-19 outbreak has disrupted the demand for piezoelectric motors in almost every sector, especially piezoelectric motors in cars & consumer electronics. This, in turn, is poised to create abeyance in the global piezoelectric motor market.
Furthermore, sales of piezoelectric motors are expected to remain stagnant in the medical sector. Thus, in 2020, the medical & lab automation equipment segment is expected to contribute only one-fifth of the global revenue shares to reach a valuation of US$ 93 Mn by 2030 end.
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According to Fact.MR, in the product category, standard linear piezoelectric motors is leading in the market and is estimated to grow at a CAGR of 3.8% through the forecast period. Over the past decade, a large number of new devices and equipment designed for industrial as well as consumer ecosystems used piezoelectric motors. Piezoelectric motors have been used as a replacement to conventional electromagnetic motors, since the latter is exposed to mechanical failures.
Manufacturers are making the shift to piezoelectric motors in a wide range of applications requiring precision control. As alternatives to electromechanical motors for cameras and other miniature consumer applications, piezoelectric ultrasonic motors are becoming increasingly popular.
Piezoelectric motor efficiency, longer battery life and quiet operations are some of the advantages that piezoelectric ultrasonic motors provide. The camera focus system and semiconductor testing requires precise mechanics, which results in better integration of piezoelectric motors.
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North America and Asia Pacific collectively account for about 60% of the global piezoelectric motors, and projected growth rates till 2030 are well over the global average. North America leads the demand for piezoelectric motors. This is fueled by the integration of advanced components by device makers to boost piezoelectric motor efficiency.
Surgical equipment, diagnostic and imaging medical devices, analytical and scientific instruments, pick and place assemblies in industrial works spaces etc., are some of the rapidly growing application areas for piezoelectric motors in North America.
Asian markets for piezoelectric motors can largely be segregated into two clusters in terms of demand. Countries like Japan, South Korea, China and Taiwan are early adopters of these motors, whereas India, Thailand and Indonesia are at embryonic stages of market development. Piezoelectric motor manufacturers are strengthening regional footprints by engaging with local component suppliers.
As a global strategy, leading piezoelectric motor manufacturers are working in tandem with device manufacturers, so that application areas of piezoelectric motors can be widened. PI (Physik Instrumente), PiezoMotor Uppsala, Nanomotion Ltd., and SmarAct are some of the renowned players in the piezoelectric motor market.
The top ten companies in the global piezoelectric motor market are estimated to account for over half of the global piezoelectric motor supply worldwide. Increase in preference for piezoelectric motors in new industry verticals and heightened demand is poised to attract brownfield as well as Greenfield investments in the mid-term forecast period.
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The piezoelectric motor market is severely affected by the COVID-19 outbreak. Globally, manufacturing units have come to a halt due to the lockdown. Supply chain disruptions are multiplying in the wake of sharply declining global demand.
The automotive, aerospace and defense sectors contribute around 15% of global revenues to the piezoelectric motor market and are significantly affected by the COVID-19 pandemic. It is estimated to have a negative impact on the market by the end of 2020.
Moreover, demand for the piezoelectric motors in the medical sector will marginally decline in 2020. In addition, a resumption of industrial activity and mass production of consumer electronics over the forecast period would result in a significant uptick in demand for piezoelectric motors.
“During the forecast period, the piezoelectric motor market is geared to expand positively. However, sales are foreseen to witness a decline in 2020 due to the effects of the COVID-19, but the prospects of resumption of manufacturing operations continues to boost the piezoelectric motor market”
The recent global piezoelectric motor market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities and threats to the expansion of the global piezoelectric motor market. A detailed segmental analysis, based on type, end use industry, and operating force has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global piezoelectric motor market. In addition, a separate section on market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the piezoelectric motor market.
Fact.MR’s study on the piezoelectric motor market offers information divided into four important segments-product, end use industry, operating force/torque, and regional analysis. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
LPM: Linear Piezoelectric Motor
RPM: Rotary Piezoelectric Motor
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The Global Market For Piezoelectric Motor Is Anticipated To Grow At A Value CAGR Of 4% During The Forecast Period.
Some of the key players in global market are PI (Physik Instrumente), PiezoMotor Uppsala, Nanomotion Ltd. and many more.
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