Piezoelectric Actuator Market Size, Share, Opportunities, And Trends By Type (Stack Actuator, Stripe Actuator, Shear Actuator, Tube Actuator, Others), By Material (Ceramic, Steel, Others), By End-User (Electrical & Electronics, Aerospace & Defense, Automotive, Medical & Healthcare, Others), And By Geography - Forecasts From 2024 To 2029

The piezoelectric actuator market is projected to witness a compound annual growth rate of 5.29% to grow to US$1316.312 million by 2029 from US$949.171 million in 2022.

Actuators are devices that convert input energy into mechanical energy, various actuators have been there for various applications. Among them, piezoelectric actuator achieves motion by applying the deformation of a solid and having a higher displacement accuracy and higher response speed than other types of actuators. The piezoelectric actuators are being applied mainly in industrial equipment requiring precision position control, such as the ultrafine-movement stage of semiconductor exposure systems, precision positioning probes, and probes for scanning tunnel microscopy (STM) and atomic force microscopy (AFM).

There are multiple advantages of the piezoelectric actuator such as the least moving parts, no wear & tear, energy consumption is low, operating at cryogenic temperatures, generation of high force, etc. These actuators don’t need lubrication to function. The end-user industries where the piezoelectric actuators are applied are electrical & electronics, aerospace & defense, automotive, medical & healthcare, and others.

It is used for the adjustments of equipment such as lenses, machining tools, mirrors, etc. It is also used in used in braille & precision knitting machines. Widely used in mobile phones and video cameras, as the demand for electronic equipment goes up, so does the demand for piezo actuators. Around 78% of the global population in 2023 owns a mobile phone.

The selection of appropriate actuators is a challenging task, the choice of piezo actuators depends on multiple factors one being the sensor accuracy, sensor resolution, etc. With the growing need from across various industries, the demand for piezo actuators will also go up in the forecast period.

Market Drivers:

• Increased electronic device production

Its application in electronic equipment such as digital cameras and cellular phones is advancing rapidly. With the demand for compact electronic equipment, piezoelectric actuators have been used and their application is advancing. The demand for electronic equipment such as digital cameras and cellular phones. It is been used in nanotechnology, for example as the drive source of microrobots, etc. Countries are trying to drive the growth of electronic products, such as mobile phones.

Mobile phone manufacturing in India has surged 21 times to reach US$ 49.3 billion over the last ten years, largely due to government initiatives such as the Production Linked Incentive (PLI) scheme. China exports 182,935 USD million worth of Electronic products to the U.S. in 2022. The need for precise and efficient piezoelectric actuators has become essential in these markets for producing electronic products.

• Growing robotics installation-

The structural and load capacity make piezoelectric actuators promising in the field of robotics. One application of uni-morph actuators includes a fish-shaped robot.

According to a world robotics report by the International Federation of Robotics (IFR) 553,052 industrial robot installations in factories around the world, a growth rate of 5% in 2022. By region, 73% of all newly deployed robots were installed in Asia, 15% in Europe, and 10% in the Americas. In 2022, China maintained its position as the world's largest market with annual installations of 290,258 units, representing a 5% increase over the previous record set in 2021. 

The nanometer-scale resolution and fast response, where the piezo actuators, are in the robotic installation will lead to the expected increase in the demand for the piezo actuators.

• Growing application in the medical/healthcare industry-

Piezoelectric actuators find applicability in healthcare products such as, good to control and manipulate also very small fluid volumes. Piezo actuators are also used for medications due to their specifications. Products such as Piezoceramic bender are used to achieve movement, positioning, displacement, or any type of motion, it is crucial to identify the optimal type of actuator. The product specification attributes include an electrical voltage of 92 V, a deflection stroke of 340 µm, a blocking force of 1 N, an active free length of 19 mm, and an electrical capacity of 440 nF.

Market Restraint:

• Raw Material Price Volatility-

The availability and cost of raw materials can impact the overall market development of piezoelectric actuators. Any disruptions in the supply chain or significant price fluctuations can limit the piezoelectric actuator market size by increasing manufacturing costs or limiting the availability of components. Piezoelectric actuators face competition from alternative actuator technologies.

Piezoelectric actuator market by type stack actuator, stripe actuator, shear actuator, tube actuator, and others

Piezoelectric actuators market by type stack actuators, stripe actuators, shear actuators, tube actuators, and others. Stack piezo actuator is available in many dimensions, strokes, forces, and power requirements, It finds application in electrical switches, micro pumps, inkjet printers, etc. Stripe piezo actuator finds application in braille machines, accelerometers, small-volume pumping devices, etc.  Shear piezo actuator finds application in microscopy, precision mechanics, and switching applications, it comes with multiple specifications. Piezoelectric tube actuators, which is ideal for vacuum and OEM applications. Others include linear motors and custom designs for specific needs.

Asia-pacific region is anticipated to hold a significant share of the piezoelectric actuators

The Asia-Pacific region will account for a notable share of piezoelectric actuator market growth due to the high demand for electronics and the increasing utilization of medical devices in the region coupled with favourable investment inflows and incentives.

During the fiscal year 2024, mobile phone exports under the PLI scheme surged to a historic high of US$ 15 billion in India, contributing to total goods exports ranging from US$ 36 billion to US$ 42 billion. Such progressive developments will accelerate the demand for piezoelectric actuators for precise motion control, thereby expanding the regional piezoelectric actuator market size. 

Company Products:

• Micro-Actuation-  Products by CTS corporation can be used in applications demanding the highest control requirements such as micro and nano-positioning of data read-write heads in the computer industry, medical, heavy-duty industrial, and military industries where ultra-high accuracy and performances are required.
• Piezoelectric Haptic Actuators- Products by Kemet corporation are made from flexible polymer film materials that result in very thin actuators, and can be driven using a microcontroller, amplifier, and feedback loop mechanism to deliver very precise and localized haptic response.
• PowerHap™ 15G type- This product made by TDK Corporation has an operating temperature of –40 to +85 °C has a low power-consuming feature. It is used in automotive, ICT, and industrial sectors, such as infotainment displays, buttons, modules, virtual reality (VR), and stylus, among others.

Market Segmentation:

• By Type
  • Stack Actuator
  • Stripe Actuator
  • Shear Actuator
  • Tube Actuator
  • Others
• By Material
  • Ceramic
  • Steel
  • Others
• By End-User
  • Electrical & Electronics
  • Aerospace & Defense
  • Automotive
  • Medical & Healthcare
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Others