These countries are projected to account for a significant market share owing to the increasing usage of consumer electronics, growing digitization and rising information & communication technologies. The growth in market in this region is predicted to be on account of presence of emerging economies such as India, Japan and China. Out of these, the market in Asia Pacific held the largest market share of 48.25% in 2018 and is further predicted to continue holding the leading share in the market by 2027. Further, owing to the benefits offered by piezoelectric actuators such as fast response, less heat dissipation, low cost and less power consumption, piezoelectric actuators are finding widespread use in various consumer electronics such as smartphones, printers and digital cameras.īased on geography, the market for piezoelectric actuators is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The growing use of piezoelectric actuators in consumer electronics is anticipated to boost the market. Moreover, this segment is predicted to lead the global piezoelectric actuator market. Based on this, the consumer electronics segment is anticipated to observe a high growth rate at a CAGR of 12.47% over the forecast period. The market is segmented on the basis of application into automotive, healthcare, consumer electronics and others. In the healthcare industry, piezoelectric polymers are used for tissue repair or regeneration. This growth can be attributed to the large number of benefits offered by piezoelectric polymers such as lightweight, low cost and fast processing. On the other hand, the segment for piezoelectric polymers is anticipated to witness progressive growth over the forecast period. Piezoelectric ceramic is a smart material that can convert a mechanical effect such as vibration, movement and pressure into electrical signal and vice-versa. Out of these, the segment for piezoelectric ceramic led the global piezoelectric actuator market and accounted for a market value of over USD 6,141.9 million in 2018 which is estimated to grow further. The operating voltage of discrete stacks is in the range of 500-1000V, while co-fired has an operating voltage of up to 200V.īased on material, the market is segmented into piezoelectric ceramic, piezoelectric crystal, piezoelectric composite and piezoelectric polymer. A stack piezoelectric actuator offers high blocking force along with a low stroke. Stack actuator segment is further segmented into discrete stack and co-fired multilayer stack actuators. This segment accounted for a market value of USD 4,962.5 million in 2018 and is anticipated to further grow at a significant rate by 2027. The segment for stack actuators is estimated to hold the leading share in the market during the forecast period. On the basis of product, the piezoelectric actuators market is segmented into stack actuator, stripe actuator, tube actuator, shear actuator and linear motor.
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