Market Introduction
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.
Market Overview and Dynamics
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.
Key Market Segments
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.
Major Sources and Companies Listed
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.; PiezoMotor Uppsala AB; piezosystem jena GmbH; and TDK Corporation.
Reasons to buy report
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APAC Piezoelectric Actuators and Motors Market Segmentation
APAC Piezoelectric Actuators and Motors Market - By Product
- Piezo Motors
- Piezo Actuators
APAC Piezoelectric Actuators and Motors Market - By Application
- Automotive
- Industrial and Manufacturing
- Medical
- Aerospace
- Consumer Electronics
- Others
APAC Piezoelectric Actuators and Motors Market - By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Piezoelectric Actuators and Motors Market - Company Profiles
- 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.
- PiezoMotor Uppsala AB
- piezosystem jena GmbH
- TDK Corporation
Asia Pacific Piezoelectric Actuators and Motors Market Strategic Insights
Asia Pacific Piezoelectric Actuators and MotorsMarket Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 6,122.97 Million |
| Market Size by 2028 | US$ 11,130.66 Million |
| CAGR (2021 - 2028) | 8.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
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Regions and Countries Covered
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| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
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Asia Pacific Piezoelectric Actuators and Motors Market Country and Regional Insights
