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Integration of Piezoelectric Actuators with Haptic Technology to Provide Growth Opportunities for Piezoelectric Actuators and Motors Market during 2021–2028

NEW YORK, UNITED STATES, March 28, 2022 /EINPresswire.com/ -- The Insight Partners published the latest research study on “Piezoelectric Actuators and Motors Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, and Geography,” The global piezoelectric actuators and motors market is expected to grow from US$ 14,547.86 million in 2021 to US$ 24,752.20 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

Strategic Insights             

Report Coverage              Details

Market Size Value in       US$ 14,547.86 Million in 2021

Market Size Value by     US$ 24,752.20 Million by 2028

Growth rate       CAGR of 7.9% from 2021-2028

Forecast Period 2021-2028

Base Year            2021

No. of Pages      167

No. Tables           115

No. of Charts & Figures 78

Historical data available Yes

Segments Covered          Product, Application, and Geography

Regional scope  North America; Europe; Asia Pacific; Latin America; MEA

Country scope   US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage              Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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The rising application of piezoelectric actuators and motors in automotive systems is fostering market growth globally. Piezoelectric actuators convert an electrical signal into mechanical movement; hence, they are widely used for adjusting mirrors, lenses, and other automotive parts. Also, piezoelectric technology is being widely used in fuel injectors. With the help of this technology, the fuel injection accuracy has increased, and the injector leakage has reduced significantly, compared to the conventional technologies. This has resulted in increased fuel efficiency of commercial and passenger vehicles, with less carbon emission. Further, the additional application of piezoelectric has been witnessed in fuel pumps, high-speed valves, keyless door entry, seat belt buzzers airbag sensors, airflow sensors, and tire pressure sensors, among others. Also, piezoelectric actuators have been largely used by automobile companies, specifically in the suspension system and seat adjustment controls of vehicles.

The global piezoelectric actuators and motors market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. In 2020, Asia Pacific held the largest revenue share of the market owing to the rapid industrialization taking place in the region. The market growth in Europe is attributed to the significant use of piezoelectric actuators and motors in the automobile industry. North America is substantially contributing to the piezoelectric actuators and motors market owing to the presence of various established industries in the region.

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Integration of Piezoelectric Actuators with Haptic Technology to Propel Piezoelectric Actuators and Motors Market Growth in Coming Years

With the integration of piezoelectric actuators with haptic technology, the applications of piezo actuators have been increased in electronics and semiconductors devices. Haptic technology involves enabling an electronic device to stimulate the human sense of touch by allowing humans to feel motion, vibration, or movement. At present, there are three mainstream technologies in haptic – eccentric rotating mass (ERM) motor, linear resonant actuator (LRA), and piezoelectric. Among the mentioned technologies, piezoelectric technology holds the edge over the rest, owing to its mechanical advantages such as faster response time, greater acceleration, and smaller size.

Piezoelectric Actuators and Motors market: Product Overview

Piezoelectric actuators and motors are among the important components for types of machinery used in the industrial and manufacturing sectors. They are expected to witness significant demand in the coming years. Piezoelectric motors are used in digital cameras for zooming, autofocus, and stabilization of optical images. Hence, the increasing sale of consumer electronics in Asian countries is propelling market growth. 

Piezoelectric Actuators and Motors market: Application Overview

Many applications, such as micro-positioning stages, fiber-optic positioning, and medical catheter placement, require motors of extremely high resolution with low power consumption. Piezoelectric motor meets these requirements. When compared to a conventional motor and its associated power train, a piezoelectric motor offers various advantages, such as faster response times, far higher precision, inherent brake capability with no backlash, higher power-to-weight ratio, and smaller size. 

Piezoelectric Actuators and Motors Market: Competitive Landscape and Key Developments

APC International, LTD.; Johnson Electric Holdings Limited; Microfine Materials Technologies PTE LTD; Piezo Electric Technology CO., LTD.; TDK Corporation; PI (PHYSIK INSTRUMENTE) L.P.; and PIEZOMOTOR UPPSALA AB are a few key players profiled in the study of the piezoelectric sensors and motors market. The companies mentioned above are collectively holding a significant share in the market.

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In March 2021, PI (Physik Instrumente), the technology leader for piezo applications and high precision positioning technology has acquired the Japanese company P•G•W Precision Granite W Co. Ltd. The acquisition was completed on February 25th, 2021.

In Turkey, FAULHABER is represented by its new distribution partner: EDEL Teknoloji Sistemleri. With effect from August 1st, 2019, EDEL Teknoloji Sistemleri San. Ve Tic. Ltd. Sti., based in Izmir, has taken over the distribution of FAULHABER Drive Systems’ products.

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