Piezoelectric Actuators Market Size, Share & Industry Analysis, By Type (Stack Actuators, Stripe Actuators, Tube Actuators, Shear Actuators, Linear Actuators), By Application (Aerospace, Automotive, Industrial Manufacturing, Healthcare, Consumer Electronics, Others), And Regional Forecast 2023-2030

Piezoelectric actuators are electromechanical devices used to convert electrical signals into tiny motions. These actuators operate particular purpose hydraulic valves, control motors, and many other applications requiring specific motion control, such as fine lens correction, processing tools, and other equipment. Piezoelectrics are developed in sensors, actuators, fuel injectors, and different safety systems in the automotive industry.

Based on type, the piezoelectric actuator market is segmented into stack actuators, strip actuators, tube actuators, shear actuators, and linear motors. It is expected that the stack actuator market segment will occupy the leading market share during the forecast period. This market segment is expected to continue to grow at a significant rate. The actuator part of the stack is further divided into a discrete stack and a co-fired multilayer stack actuator. Stacked piezoelectric actuators provide high locking force and low stroke. The operating voltage of discrete batteries is in the range of 5001000V, while the operating voltage of co-fired is as high as 200V.

According to the application, the piezoelectric actuators market is segmented into aerospace, automotive, industrial and manufacturing, healthcare, and consumer electronics. The demand in the medical sector for the manufacture of various kinds of medical devices and equipment is the expected restraint on the development of the piezoelectric actuator market. The newly released piezoelectric material is eco-friendly, biodegradable, and relatively safer than lead-based piezoelectric products. A piezoelectric actuator is a component that provides various benefits such as reduced power consumption, reduced cost, reduced heat dissipation, high reliability, fast response, and high operating precision.

Based on the materials, the market is divided into piezoelectric ceramics, piezoelectric crystals, piezoelectric composites, and piezoelectric polymers. Piezoelectric ceramics are expected to continue to grow. Piezoelectric ceramics are intelligent materials that can convert mechanical effects like vibration, movement, and pressure into electrical signals and vice versa. On the other hand, the piezoelectric polymers segment is expected to grow gradually over the forecast period. This growth can be attributed to the many benefits that piezoelectric polymers provide, such as being lightweight, low cost, and high processing speed. In the healthcare industry, piezoelectric polymers are used for tissue repair or regeneration.

The increase in the use of piezoelectric actuators in the electronics industry is one of the primary key factors driving overall growth. Piezoelectric actuators are widely used in consumer electronic products, such as watches, digital cameras, mobile phones, and printers. In addition, the compactness and small size of the product allow it to be easily adapted and installed on various electronic devices. In addition, compared with other devices, it also provides a fast response to high frequency, thereby further consolidating its tradition in consumer electronics.

Piezoelectric actuators require high voltage to operate normally, and the distance covered is relatively short, increasing total operating costs. Another major challenge facing the piezoelectric actuator market is the difficulty of water management and the high risk of short circuits. As the humidity increases, the risk of cross-contact between the multiple layers of the actuator increases. Based on these factors, market growth is expected to be limited in the next few years.

Key Market Driver -

Increasing use of piezoelectric actuators to enhance market growth

Key Market Restraint -

High voltage requirement and cost issues to stagnate market

Key Players Covered:

The key participants in the piezoelectric actuators market are APC International, CEDRAT TECHNOLOGIES, CeramTec, CTS Corporation, TDK, Johnson Matthey, Kinetic Ceramics, Murata, NGK INSULATORS, PI (Physik Instrumente) Group, Piezomechanik GmbH, and Stem, Inc.

Regional Analysis:

The piezoelectric actuators market is studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is currently the dominant market. MEA and Latin American markets will also rise due to promoting widespread clean energy led by local governments. The North American healthcare and consumer electronics sector is expected to show adequate growth during the forecast period due to advanced technologies related to increasing demand for products. Manufacturers and suppliers in countries such as China and India are expected to expand or establish their presence in the Asia Pacific region, driven by growing demand in the automotive sector and other fundamental factors.

Europe accounts for the largest share of all regions and may maintain parallel strength during the forecast period. The European region’s advantage in piezoelectric actuators is attributed to population growth, increased foreign investment, increased government initiatives, mass manufacturing facilities for electronic components, numerous manufacturers and suppliers, medium costs, and technological advancements in developing countries—Europe area. In addition, countries such as Germany and Italy are the main contributors to the region.

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Segmentation

Key Industry Developments

• In January 2020, Cedrat Technologies developed a tilt mechanism piezoelectric actuator for the JPL Deep Space Optical Communication (DSOC) module.


• In February 2019, CTS Corporation introduced PiezoPower, a piezoelectric component in a curved shape to expand your product portfolio. These components are designed to design, design, and manufacture complex shapes, such as spheres and hemispheres used in ultrasonic underwater equipment and ultrasonic medical transducers.


• On May 21, 2019, TDK Corporation announced that it had developed the PiezoListen™, an ultra-thin piezoelectric speaker that can produce a wider frequency range and wider output at low frequencies compared to other piezoelectric speakers.