Many Asian economies have been relatively less impacted by the COVID-19 pandemic, and economic recovery has commenced. With US and Europe still in grip of the pandemic, piezoelectric motor manufacturers are looking at opportunities in APAC
NEW YORK, NY / ACCESSWIRE / March 5, 2021 / Fact.MR: Fact.MR's report on Global piezoelectric motor market projects a steady growth in 2021. Recovery in automotive sector will be key to demand for piezoelectric motor industry in 2021. The demand from medical sector has sustained growth to an extent; however, for market to reach pre-COVID levels, automotive industry revival will be key. The report also finds that miniaturization will be a key focus area for manufacturers in 2021 and beyond.
The medical & lab segment contributed to 1/5th of the global revenue shares. it is likely to reach a valuation of US$ 93 Mn through 2030. The report estimates global sales of piezoelectric motors to grow at nearly 4% through 2030
'The motor industry saw demand waning, in tandem with broader macroeconomic cues. Recovery has commenced in Asia Pacific, with China taking the lead. Therefore, motor industry is looking for opportunities in APAC', says an Fact.MR analyst.
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- Robotics and factory automation segments will reach US$ 27 Mn by 2030
- Piezoelectric motors preferred over electromagnetic motors owing to their mechanical efficiency
- Optics and photonics to remain lucrative through 2030
- North America and Asia Pacific collectively account for nearly 60% share, with US, China, and India among key markets
- Asia Pacific to emerge as a potential market backed by the expanding manufacturing companies
- Japan and South Korea piezoelectric market reliant on innovations
- Increasing application in aerospace & defense and consumer electronics will spur growth
- Commencement of economic recovery in consumer electronics to create growth opportunities
- Sluggish growth in automotive sector is likely to hinder sales
Discover more about the Piezoelectric motor market with 83 figures and 54 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/2438/piezoelectric-motor-market
Dr. Fritz Faulhaber GmbH & co. KG, Attocube Systems AG, Physik Instrumente (PI) GmbH & Co. KG, Nanomotion Inc., Piezomotor Uppsala AB, SmarAct GmbH, Portescap, Adamant Namiki Precision Jewel Co. Ltd., New Scale Technologies Inc., and Piezo Electric Technology Co. Ltd. are some of the key players profiled by Fact.MR. Key players are adopting numerous organic and inorganic strategies such as product launches, collaborations, M&A's, to strengthen their position in the market.
For instance, in January 2021, Piezomotor Uppsala AB announced to produce and deliver prototypes of micro motors for mobile phone cameras to two of the world's largest players in this market. Deliveries are planned for the first half of 2021.
Also, in December 2020, Faulhaber partnered with RoboHouse, the centre of robotics in Netherlands to expand the revenues by delivering new product launches and to drive solutions from Faulhaber.
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More Valuable Insights on Piezoelectric Motor Market
Fact.MR, in its new offering, presents an in-depth analysis on the global piezoelectric motor market. The study divulges essential insights on the Piezoelectric motor market on the basis of product (standard LPM, non-magnetic LPM, vacuum LPM, standard RPM, non-magnetic RPM, and vacuum RPM), end use industry (micro positioning stages, medical & lab automation equipment, automotive, aerospace & defense, robotics & factory automation, optics & photonics, and instrumentation), operating force/torque (0-20 N, 20-150 N, 150-225 N, 150-225 N, above 225 N, below 10 mNm, 10-25 mNm, above 225 mNm), and key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa (MEA)).
Key Questions Covered in the Report
- Which is the lucrative segment for the piezoelectric motor market?
- What will be the market outlook for piezoelectric motor in the upcoming years?
- What will be the key drivers for the piezoelectric motor market?
- What will be the challenges that key players would face due to Covid-19?
- Which material will account for lucrative sales of piezoelectric motor?
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