Global Stripe Piezoelectric Actuators Market - Growth Trends and Forecasts (2018 - 2023)
Stripe piezoelectric actuators are widely used in advanced research, precision motion control, and positioning activities. They are used in multiple domains, and the scope of these actuators include needle control on textile monitoring and braille printing. In these activities, the needle requires precise control for accurate representation, be it on textile or paper. Accelerometers, small-volume pumping devices, and switching devices also use stripe piezoelectric actuator. They are used for making or breaking electrical connections in electrical switching devices.
The demand for high-end electronic items is expected to increase worldwide. Due to the evolving technologies and faster maturity of the technology, the market has been witnessing a sustained growth. Several regions around the world are likely to register various degrees of growth in this regard. Furthermore, the markets for high-end gaming consoles and high-definition audiovisual devices are also expected to grow, due to the rising demand. Globally, the economic condition of the people has register a gradual and steady increase in developing countries. This has increased the demand for better medical care and patient’s willingness to opt costly treatments. The market for stripe piezoelectric actuator is expected to see further growth, due to its wide spread use in medical devices and consumer electronics devices. However, the high-cost of these high-performance actuators acts as a restraint for the market. This, in turn, increases the usage of devices that use these instruments, which further hinders the market’s growth.
Growing Demand for Automobiles Poised to Accelerate Growth
In the automobile industry, piezoelectric actuators draw power directly from the vehicle’s battery. In the case of other actuators, the vehicle’s engine needs to be running. The additional advantage of the piezoelectric actuators is the weight bearing capacity, which is 30% more than that of others. The industry is set to witness a storm of change with five disruptive technology-driven trends in the future – autonomous driving, connectivity, customer-centricity, electrification, and shared mobility. The past few decades have witnessed the automotive industry gaining significantly from globalization. In 2016, 84.2 million new passenger cars and light commercial vehicles were sold globally, up approximately 5% on an y-o-y basis. Of all vehicles sold, 81.5 million were internal-combustion engine (ICE) vehicles, 2 million were hybrid, and 0.440 million were electric. This spike in the automotive industry has resulted in increasing automobile production and the subsequent demand for electric actuators, like stripe piezoelectric actuators.
Asia-Pacific to Dominate the Market Growth
Asia-Pacific is poised to account for the largest share of the global stripe piezoelectric actuator market over the forecast period. The developing regions, especially China, Japan, and India, account for significant market shares in the region. Owing to increasing adoption of portable electronics, increasing digitization, and booming information & communication technologies, the Asia-Pacific segment is anticipated to witness robust growth over the forecast period. Additionally, increasing urbanization and rise in investments by healthcare providers, contribute to the advancements of healthcare, such as medical and surgical solutions. Major Players: APC INTERNATIONAL Ltd, OMEGA PIEZO, PIEZO SYSTEMS Inc., PIEZODIRECT, PI CERAMIC GmbH
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