Middle East and Africa Piezoelectric Actuators and Motors Market
No. of Pages: 116 | Report Code: TIPRE00025358 | Category: Electronics and Semiconductor
No. of Pages: 116 | Report Code: TIPRE00025358 | Category: Electronics and Semiconductor
The MEA region includes countries such as South Africa, Saudi Arabia, and the UAE. The region is expected to witness a rapid increase in commercialization and industrialization in the coming years, which would further boost the demand for piezoelectric actuators and motors across various industries. The MEA stands as one of the world’s fastest-growing markets for the logistics and transportation sector along with a strong public infrastructure presence in Dubai and Abu Dhabi. Continuous growth in industrialization in Saudi Arabia is pushing the country toward the integration of automated supply chains within different industries. Saudi Arabia is witnessing balanced development due to the continuous support from the government for industrialization in Yanbu and Jubail. The government initiatives to encourage the manufacturing sector of the MEA region are expected to increase the demand for piezoelectric actuators and motors. Further, South Africa is one of the fastest-growing countries in Africa, and it has shown prominent growth in its automotive sector. In 2020, the country had manufactured 447,218 units of all categories of vehicles as per the OICA data. Hence, the rising manufacturing industries, including the automotive sector, are expected to positively contribute to the piezoelectric market as the majority of manufacturing industries are beneficiaries of piezoelectric actuators and motors. Thus, the market is expected to flourish in the upcoming years.
The impact of COVID-19 pandemic varied from country to country across MEA as a few countries such as the UAE, Saudi Arabia, Qatar, and Kuwait witnessed a surge in the number of COVID-19 confirmed cases and subsequently imposed stringent and extended lockdown period. Hence, the major countries in the MEA faced slowdown in its economy. The region is projected to register a swift decline in its manufacturing industries, and this will have a negative impact on the piezoelectric actuators and motors market in the MEA. Also, the COVID-19 pandemic has severely disrupted the supply chain of several manufacturing industries, including piezoelectric actuators and motors. However, the countries are overcoming the swift drop in demand, as the manufacturing industries are resuming their operational activities and demand from automotive and electronics & semiconductor sectors has started to recover. Hence, this recovery is expected to increase the application of piezoelectric actuators and motors in the region and would proliferate the market growth in the coming years.
Strategic insights for the Middle East and Africa 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$ 442.98 Million |
| Market Size by 2028 | US$ 692.13 Million |
| Global CAGR (2021 - 2028) | 6.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa 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 MEA is expected to grow from US$ 442.98 million in 2021 to US$ 692.13 million by 2028; it is estimated to grow at a CAGR of 6.6% from 2021 to 2028. South Africa is among the most advanced and developed countries in the African region. It is the most industrialized, technologically advanced, and diversified economy on the African continent. The automotive industry is one of the most important industries of the country’s economy. The industry accounts for ~10% of the country’s manufacturing exports, which makes it a crucial aspect of its economy. Furthermore, South Africa is an economically growing country thereby experiencing investment in various technologies across all industries. Medical devices and equipment industry in the country have also experienced surge in demand over the years. Thus, the above-mentioned industries are the major end-user of piezoelectric actuators and motors and creating lucrative opportunity for the market in South Africa.
MEA 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 MEA piezoelectric actuators and motors market is segmented into Saudi Arabia, South Africa, UAE and rest of MEA. South Africa 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 MEA 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.; FAULHABER Group; Johnson Electric Holdings Limited; Microfine Materials Technologies Pte Ltd; Physik Instrumente (PI) GmbH & Co. KG.; PiezoMotor Uppsala AB; piezosystem jena GmbH; and TDK Corporation.
The Middle East and Africa Piezoelectric Actuators and Motors Market is valued at US$ 442.98 Million in 2021, it is projected to reach US$ 692.13 Million by 2028.
As per our report Middle East and Africa Piezoelectric Actuators and Motors Market, the market size is valued at US$ 442.98 Million in 2021, projecting it to reach US$ 692.13 Million by 2028. This translates to a CAGR of approximately 6.6% during the forecast period.
The Middle East and Africa 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 Middle East and Africa Piezoelectric Actuators and Motors Market report:
The Middle East and Africa 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 Middle East and Africa Piezoelectric Actuators and Motors Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Piezoelectric Actuators and Motors Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Middle East and Africa Piezoelectric Actuators and Motors Market
