Piezoelectric Actuator Market: By Key Players, Market Size, Deployment Type, Applications, Vertical, and Forecast: 2022-2031
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Aug 19, 2022, 08:40 EST
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Shibuya-ku, Tokyo, Japan, Japan, Aug 19, 2022, 08:40 /Comserve / — Piezoelectric Actuator Market :Global Size, Share, Trends, Forecast, Growth, Key Players, Market Segments & Regional Analysis (Latin America, North America, Asia Pacific, Europe, Middle East)
“The report on Piezoelectric Actuator Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter’s five forces.
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Piezoelectric Actuator Market: Overview
- According to the latest research report on the global piezoelectric actuator market for the historical period of 2018–2019 and the forecast period of 2022-2031, upgrade of old aircraft or their replacement with new and technologically advanced fighter aircraft and increasing government efforts to modernize aircraft are expected to drive the global piezoelectric actuator market during the forecast period
- In terms of revenue, the global piezoelectric actuator market is estimated to reach value of ~US$ 1 Bn by 2030, expanding at a CAGR of ~4% during the forecast period
Rising Demand for Aircraft: A Key Driver
- With growing security concerns, increasing military capabilities of nations across the globe, and rising expenditure on the defense sector, military aircraft manufacturers are witnessing surge in the demand for military aircraft
- For instance, in September 2018, the U.S. Air Force awarded a contract worth US$ 9.2 Bn to Boeing, a prominent aviation company, to build the next fleet of training jets. The service aims to buy 351 jets with full operational capability by 2034.
- According to Boeing, a prominent aircraft manufacturer, the global air travel industry would require more than 42,000 new airplanes by 2037 from July 2018, owing to high demand arising out of strong economic growth, growing middle-class population, and increasing consumer spending
- In June 2018, Lockheed Martin, a U.S.-based aerospace firm, received a contract worth US$ 1.12 Bn to produce 16 advanced F-16 Block 70 Fighting Falcons for the Royal Bahraini Air Force. This deal signified the increasing demand for F-16 military aircraft across the globe.
- Thus, the increasing demand for aircraft is likely to drive the demand for piezoelectric actuators to be used in aircraft. This would positively impact the global piezoelectric actuator market during the forecast period.
Piezoelectric Actuators Streamline Medical Device Performance: the Latest Trend
- Piezoelectric actuators are increasingly being used for medical applications by medical and bioresearch companies, as they are better operating, lower cost, and more efficient
- Medical device manufacturers prefer piezoelectric motors and actuators over conventional electromagnetic motors, as they offer substantial inherent advantages
- Piezoelectric actuators are used for various medical devices, including laser beam steering devices, surgical devices, micro dose dispensers, 3D scanners, nano-liter and micro-liter pumps, and ultrasonic emitters. They are also employed for material handling, drug delivery, and MRI-compatible robotics.
Use of Potentially Hazardous Elements: a Major Challenge for Global Market
- A recent trend calls for use of lead-free materials in almost every industry. Various environmental and health-related issues are caused by hazardous materials. In order to minimize the use of lead materials, various authorities are imposing restrictions on use of all homogeneous components containing more than 0.1 weight% of toxic or hazard elements. This is expected limit the use of piezoelectric actuators in several applications in the near future.
- The size of piezoelectric actuators is large. Moreover, they require high operating voltage, which leads to loss of efficiency.
- Usage of hazardous materials, large size, and high electricity usage make users of piezoelectric actuators reluctant to opt for alternatives. This is a major factor hindering the global piezoelectric actuator market.
Piezoelectric Actuator Market: Competition Landscape
- Detailed profiles of providers of piezoelectric actuator have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global piezoelectric actuator market are
- APC International Ltd.
- Cedrat Technologies
- CeramTec GmbH
- CTS Corporation
- TDK Corporation
- Johnson Matthey
- Kinetic Ceramics
- Murata Manufacturing Co. Ltd.
- Tokin Corporation
- NGK Insulators
- PCB Motor Ltd.
- Physik Instrumente (PI) GmbH & Co. KG.
- Piezomechanik GmbH
- Steminc (STEINER & MARTINS, INC.)
- Thorlabs Inc.
- Ningbo Best Group Co., Ltd.
- Hanse-john Electronics Co., Ltd
- Piezo Hannas (Wuhan) Tech Co Ltd.
- Sinocera Piezotronics, INC.
Piezoelectric Actuator Market: Key Developments
- Key providers of piezoelectric actuators, such as Cedrat Technologies and DOK-ING d.o.o., are focusing on the development of innovative and reliable piezoelectric actuators. Some other key developments in the global piezoelectric actuator market are as follows:
- In January 2020, Cedrat Technologies developed a piezoelectric actuator with tip tilt mechanism for the JPL Deep Space Optical Communication (DSOC) module
- In February 2019, CTS Corporation introduced PiezoPower, which were piezoelectric curved-shaped components, to expand its product portfolio. These components were meant to be employed to design, engineer, and manufacture complex shapes, such as spheres and hemispheres, which are used in ultrasonic underwater devices and ultrasonic medical transducers.
- In the report on the global piezoelectric actuator market, we have discussed individual strategies, followed by company profiles of providers of piezoelectric actuators. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global piezoelectric actuator market.
Piezoelectric Actuator Market – Scope of the Report
A new study on the global piezoelectric actuator market presents detailed information on key market dynamics, including drivers, trends, and challenges for the global piezoelectric actuator market as well as its structure. The study offers valuable information on the global piezoelectric actuator market in order to illustrate how the market is expected to expand during the forecast period i.e. 2020–2030.
Key indicators of market growth, which include value chain analysis and compounded annual growth rate (CAGR), are elucidated in the study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global piezoelectric actuator market.
An extensive analysis of business strategies adopted by leading market players is also featured in the study on the global piezoelectric actuator market. This can help readers understand key factors responsible for growth of the global piezoelectric actuator market. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the global piezoelectric actuator market. This data would guide market players in making apt decisions in the near future.
Key Questions Answered in the Study of Piezoelectric Actuator Market
- What would be the Y-o-Y growth trend of the global piezoelectric actuator market between 2020 and 2030?
- What is the influence of the changing trend in actuator types on the global piezoelectric actuator market?
- Would Asia Pacific continue to remain the most dominant regional market for providers of piezoelectric actuators in the next few years?
- Which factors would hinder the global piezoelectric actuator market during the forecast period?
- Which are the leading companies operating in the global piezoelectric actuator market?
A unique research methodology is utilized to conduct comprehensive research on the global piezoelectric actuator market and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.
Secondary research sources referred to by analysts during production of the report on the global piezoelectric actuator market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to production of the study on the global piezoelectric actuator market as a primary research source.
For more information about this report visit: Piezoelectric Actuator Market“
These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global piezoelectric actuator market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global piezoelectric actuator market with accuracy. The study also uses a top-down approach to assess the numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making estimates on future prospects for the global piezoelectric actuator market more reliable and accurate.