Potential Impact of COVID-19 on Piezoelectric Actuator Market

Piezoelectric Actuator Market: Introduction

Transparency Market Research delivers key insights on the global piezoelectric actuator market. In terms of revenue, the global market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global piezoelectric actuator market.

Piezoelectric actuators are transducers that convert electric energy into mechanical displacement or stress on the basis of the piezoelectric effect. Furthermore, these actuators are widely used in high-precision positioning mechanism, as they can control small mechanical displacement at a high speed, due to their large generated force, stable displacement, and ease of use. In addition, piezoelectric actuators come in different shapes and sizes. Various shapes include disks, tubes, plates, benders, and bimorphs.

With the introduction of new technologies in automotive and consumer electronics industries, piezoelectric actuators are being evolved. A large number of players, including CTS Corporation, Murata Manufacturing Co. Ltd., PI Ceramics, Cerametec, and Thorlabs, Inc. are developing new multilayer actuators, multilayer chip actuators, bulk stacked actuators, shear actuators, amplified actuators, and benders for use in industries such as consumer electronics, automotive, medical, aerospace & defense, and manufacturing & processing.

Piezoelectric Actuator Market: Dynamics

Significant investments in manufacturing activities in developing economies are expected to provide immense growth opportunities to the global piezoelectric actuator market during the forecast period. India, China, Thailand, and South Africa are emerging as key markets for piezoelectric actuators. These regions are expected to be the focus of industrial actuator manufacturers during the forecast period. Moreover, growth in urbanization is creating high demand for infrastructure development in public and private sectors. This infrastructure comprises power stations, water supply systems, electricity grids, and water treatment plants. Furthermore, rising demand for innovative products with improved performance and reliability is driving the demand for new technologies.

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Additionally, 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 than 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, 3-D scanners, nano-liter and micro-liter pumps, and ultrasonic emitters. They are also employed for material handling, drug delivery, and MRI-compatible robotics.

Piezoelectric Actuator Market: Prominent Regions

Asia Pacific is the dominant region of the global piezoelectric actuator market. Growth of the market in the region can be attributed to the significant manufacturing ability of players in the Asia Pacific market to produce piezoelectric actuators for use in aerospace and defense applications. Additionally, increasing expenditure on aircraft modernization and advancement in technologies associated with fighter aircraft are factors projected to propel the global military aircraft sector during the forecast period.

Furthermore, growing concerns about national security have led to strengthening of military aircraft fleet across the globe. With this, the demand for piezoelectric actuators is also rising, as various air force agencies worldwide are incorporating piezoelectric actuators into their fighter aircraft. Owing to the aforementioned advantages, adoption of technologically advanced piezoelectric actuators is rising significantly in the aerospace & defense sector in Asia Pacific.

Get More Press Release by TMR: https://www.prnewswire.co.uk/news-releases/global-synchrophasors-market-to-expand-as-a-function-of-advancements-in-electrical-engineering-and-power-management-tmr-846364142.html