The global piezoelectric motor market is projected to grow at a moderate rate of over 4% between 2023 and 2030, says Fact.MR. Piezoelectric motor is utilized in a wide array of applications such as photonics, manufacturing process control, medical devices and meteorology. Currently, most of the manufacturing industries like automotive, optics & phonics, are shuttered due to the COVID-19 outbreak, resulting in a downturn in piezoelectric motor sales. However, rapidly evolving production processes like 3D printing and advanced robotics are driving the need for motion control systems and miniature devices, which in turn will boost the growth of the piezoelectric motors market in the coming years.
Application areas such as robotics and factory automation in various industries have resulted in the high demand growth of piezoelectric motors. The robotics and factory automation segment, combined, are estimated to witness an absolute dollar opportunity of US$ ~27 Mn between 2023 and 2030. Additionally, medical equipment and device manufacturers are rapidly moving towards the adoption of piezoelectric motors vis-a-vis electromagnetic motors. These include surgical devices, 3D scanners, MRI compatible robotics, ultrasonic emitters, drug delivery devices, laser beam steering, and devices used in dermatology, cosmetology, and ophthalmology.
The following insights and evaluations are worth knowing for any market participant, helping them in ascertaining the prevailing dynamics and the future trajectories of the Piezoelectric Motor Market. They are a part of the estimations of the opportunities in various segments. The additional new opportunities have turned the Piezoelectric Motor Market into a fragmented landscape with more entry-level players entering the market, thanks to low barriers for investments.
After reading the Piezoelectric Motor Market report, readers get insight into:
- Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
- New, promising avenues in key regions
- New revenue streams for all players in emerging markets
- Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
- Demand and uptake patterns in key industries of the Piezoelectric Motor Market
- New research and development projects in new technologies in key regional markets
- Changing revenue share and size of key product segments during the forecast period 2023 to 2031
- Technologies and business models with disruptive potential
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
Cost-effectiveness to be the Key Tenet of Stakeholders in the Piezoelectric Motor Market
Today, the piezoelectric motors have become a mainstream element in industrial and commercial applications. With continuous advancements in technology, the piezoelectric motor industry has bolstered new capabilities within the nano- and micro-positioning space. The leading players in the piezoelectric motor market are focusing on product innovation to meet the needs of various sectors such as medical, automotive, robotics and other sectors.
For instance, in 2019, Physik Instrumente (PI) GmbH & Co. KG launched its piezoelectric linear motor for robotic applications thus giving an impetus to its demand. That same year, Portecap launched rotary piezoelectric motor for the smart bone orthopedic applications. Innovations have allowed these companies to expand their global reach in the piezoelectric motor market.
Some important questions that the Piezoelectric Motor Market report tries to answer exhaustively are:
- Key strategic moves by various players in the Piezoelectric Motor Market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares
- Which strategies will enable top players in the Piezoelectric Motor Market to expand their geographic footprints
- Which new business models are expected to change the course of growth of key regional markets in near future
- Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants
- Which products segments have in recent years have seen new, lucrative application areas
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