Asia Pacific Piezoelectric Actuators and Motors Market
No. of Pages: 132 | Report Code: TIPRE00025357 | Category: Electronics and Semiconductor
No. of Pages: 132 | Report Code: TIPRE00025357 | Category: Electronics and Semiconductor
The presence of emerging economies and the rise in the adoption of advanced and sophisticated technologies are contributing to the overall growth of the APAC region. China, Japan, Australia, India, and South Korea are the major contributors to the development of the piezoelectric actuators and motors market in the region. Rapid technological developments, digitalization of economies, and adequate government support for setting up manufacturing industries are contributing to the smooth evolution of these economies from the developing stage to the developed stage. For instance, to attract more foreign investments in the manufacturing industry, the government of India has introduced the “Make in India” initiative to encourage companies to manufacture in India and incentivize dedicated investments into manufacturing. Similarly, the Chinese government has launched “Made in China 2025,” a national strategic plan to further develop the manufacturing industry of the People's Republic of China. The ongoing government support to the manufacturing industry is expected to propel the growth of the piezoelectric actuators and motors market in the region. Also, there is a presence of major automotive manufacturers such as Suzuki, Mitsubishi, Hyundai-Kia, Nissan, Tata Motors Limited, Lexus, and Toyota, in the region. These major automotive companies are expected to positively influence the market as the automotive sector is turning into one of the largest beneficiaries of piezoelectric actuator products.
APAC constitutes the world’s two most populated countries—China and India. China, Japan, and India are a few prominent automobile manufacturing countries in the region. Also, the region represents one of the largest manufacturing industries across the world. The COVID-19 outbreak has brought the entire manufacturing industries to a halt. As a result, supply chain has been disrupted and caused the shortage of raw material required for the manufacturing of piezoelectric actuators and motors. Thus, the overall decline of manufacturing industries hampered the demand for piezoelectric actuators and motors across APAC during the first two quarters of 2020. However, with the resumption of several economies in the region, the manufacturing activities of automotive and consumer electronic goods have slowly resumed, and the rise in demand for these products are supporting the APAC piezoelectric actuators and motors market growth. Thus, the market is projected to recover steadily and gain traction for piezoelectric actuators and motors during the forecast period.
Strategic insights for the Asia Pacific Piezoelectric Actuators and Motors provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 6,122.97 Million |
| Market Size by 2028 | US$ 11,130.66 Million |
| Global CAGR (2021 - 2028) | 8.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Piezoelectric Actuators and Motors refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The piezoelectric actuators and motors market in APAC is expected to grow from US$ 6,122.97 million in 2021 to US$ 11,130.66 million by 2028; it is estimated to grow at a CAGR of 8.9% from 2021 to 2028. APAC region consists of one of the largest pharmaceutical industries across the globe and comprises major pharmaceutical companies such as Sun Pharmaceutical Industries Limited, Dr. Reddy's Laboratories, Astellas Pharma Inc, Takeda Pharmaceutical Co Ltd, and Hyphens. Also, the region has strong healthcare infrastructure growing at a significant rate due to the region’s rising population and the government initiatives for better health care. For instance, the government of India has launched a national health protection scheme “Ayushman Bharat.” In recent years, medical devices manufacturers have found wide applications of piezoelectric actuators. These actuators are used extensively in ultrasound scanners for medical imaging and magnetic resonance imaging (MRI) systems as the actuator movement does not produce magnetic fields. Hence, the flourishing healthcare sector in the region is expected to positively impact the piezoelectric actuators and motors market in the upcoming years.
APAC piezoelectric actuators and motors market is segmented into product, application, and country. Based on product, the market is segmented into piezo motors and piezo actuators. The piezo motors segment is further bifurcated into piezo linear motors and piezo rotary motors. Similarly, the piezo actuators segment is classified into stack actuators, strip actuators, and others. Piezoelectric actuators segment held the largest market share in 2020. In terms of application, the market is segmented into automotive, industrial & manufacturing, medical, aerospace, consumer electronics, and others. Industrial and Manufacturing segment held the largest market share in 2020. Based on country, the APAC piezoelectric actuators and motors market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.
A few major primary and secondary sources referred to for preparing this report on the piezoelectric actuators and motors market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are APC International, Ltd.; CEDRAT TECHNOLOGIES; FAULHABER Group; Johnson Electric Holdings Limited; Microfine Materials Technologies Pte Ltd; Physik Instrumente (PI) GmbH & Co. KG.; Piezo Electric Technology Co., Ltd.
The Asia Pacific Piezoelectric Actuators and Motors Market is valued at US$ 6,122.97 Million in 2021, it is projected to reach US$ 11,130.66 Million by 2028.
As per our report Asia Pacific Piezoelectric Actuators and Motors Market, the market size is valued at US$ 6,122.97 Million in 2021, projecting it to reach US$ 11,130.66 Million by 2028. This translates to a CAGR of approximately 8.9% during the forecast period.
The Asia Pacific Piezoelectric Actuators and Motors Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Piezoelectric Actuators and Motors Market report:
The Asia Pacific Piezoelectric Actuators and Motors Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Piezoelectric Actuators and Motors Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Piezoelectric Actuators and Motors Market value chain can benefit from the information contained in a comprehensive market report.
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