Piezo Benders Market Size, Share, Growth, And Industry Growth By Type (Ring Benders, Plate Benders, And Others) By Application (Buzzers, Actuators, Sensor And Others), Regional Forecast To 2031

Updated On: 08 July 2024

Piezo Benders Market REPORT OVERVIEW

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The global piezo benders market size is predicted to value at USD 6734.8 million in 2021 and is projected to touch USD 14396.24 million by 2031, exhibiting a compound annual growth rate (CAGR) of 7.9% from 2021 to 2031.

When an electrical voltage is applied between the plates of a piezo bender, it bends due to the piezoelectric effect. On the other hand, a piezo bender produces an electrical potential as it bends. Different rectangular layers of piezoelectric material with polarization perpendicular to the stack make up a piezo bender. The technology finds various applications across a wide range of end-use industries. Worldwide, its demand is increasing in actuators, sensors, and buzzers, among other components. The demand for these components is rising due to growing digitization across industries and the proliferating trend of industrial automation and robotics. These factors will positively influence the piezo benders market growth in the coming years.

COVID-19 Impact: Market Negatively Affected by COVID-19 Outbreak Due to Fall in Manufacturing Sector

The automation sector has suffered because of the COVID-19 outbreak. Large businesses have lost a significant amount of money as a result of the nationwide shutdowns. Investments in the automation industry, which were sluggish before the epidemic, are now expected to be delayed or put on hold for almost to a year. In order to create the necessary infrastructural facilities to stop the spread of COVID-19, nations all over the world gave the healthcare sector priority when allocating their expenditures from the aerospace, defence, and automobile industries. These factors had a significant impact on the global piezo benders market expansion.

LATEST TRENDS

"Industries Must Quickly Adopt Smart Actuators to Promote Growth"

The introduction of cutting-edge technology such as piezo benders to create smart actuators is one of the major upcoming trends in the industry. An integrated system of sensors, motors, communication devices, and controllers is known as a smart actuator. The smart actuator that controls the robots used in numerous industries may be quickly modified, constructed, or dismantled. The field's automation and control capabilities will improve as smart actuator use increases. Smart actuators offer a number of benefits, including greater controllability and diagnostic capabilities, increased productivity and efficiency, less complexity and cabling, lower software and hardware costs, improved machine functioning, and others. For instance, high-performance PROFOX actuator series with cutting-edge characteristics were introduced by AUMA in May 2020. It is intelligent by default, inexpensive to run, very mechanically efficient, and small in size. It is appropriate for many different sectors, including shipbuilding, water treatment, combined heat and power plants, and process industries.

Piezo Benders Market Segmentation

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• By Type Analysis

By type, market is segmented into ring benders, plate benders and others. The ring benders segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into buzzers, actuators, sensor and others. The buzzers segment will lead the global share through 2028.

DRIVING FACTORS

"Growing Actuator Demand due to Rising Industrial Automation to Augment Market Growth"

The trend of automation has grown as a result of advancements in robotics, artificial intelligence, and machine learning. In order to automate numerous systems and processes in the automotive, manufacturing, agricultural, culinary, transportation, and medical industries, actuators are essential parts of all actuation systems. Through the projection period, it is expected that a surge in industrial automation would fuel market expansion.

Another reason for the growth in industrial automation is the growing population. Another element driving demand for industrial automation is the expanding global population. Manufacturers automated the process that aids in the mass manufacturing of items in order to fulfil the demands of the growing population. Additionally, the market is expected to develop as a result of the increasing usage of industrial robots in mechanical sectors to speed up production and reduce human error. The growing automation trend will augment the piezo benders market share.

"Increasing Deliveries of Commercial Aircraft to Drive Market Expansion"

Actuators are employed in many different aspects of an aeroplane, including the landing gear, the flying controls, the seats, the doors, and more. Thus, increased manufacturing of new aircraft will increase demand in the upcoming years. The demand for air travel has risen recently as a result of the tremendous economic development experienced in wealthy nations as well as rising economies such as China, Africa, and India. Airlines must expand their fleet of aircraft as a result of the increase in air passenger volume. This demand has caused a rise in commercial aircraft deliveries, which is expected to fuel the piezo benders market expansion.

RESTRAINING FACTORS

"High Installation and Maintenance Costs to Restrict Market Growth"

Due to fluids, hydraulic actuators are challenging to install. As a result, installing it might be expensive, especially when installing it for a big production line. It is anticipated that this may impede market expansion. Additionally, to provide the necessary output, hydraulic actuation systems employ a fluid medium such as oil or water, whereas pneumatic actuation systems use air. The market is hampered by oil or water leaks since they harm the product, reduce its effectiveness, and raise its maintenance costs. As a result, the piezo benders market share is hampered by key damage factors such continuous seal wear, improper assembly or maintenance, dangers related to steam valves, decreased control quality, and others.

Piezo Benders Market REGIONAL INSIGHTS

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KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

"North America to Dominate Owing to Presence of Key Players "

North America dominated the industry. The presence of well-established and expanding automobile and aviation production facilities in the area is credited with the rise. The U.S., China, Japan, the Republic of Korea, and Germany account for over 73 percent of all robot installations worldwide, according to the World Robotics report 2020.

Due to the region's increasing industrialization and urbanization, the market in Asia Pacific is anticipated to expand at the greatest growth rate over the forecast period. Japan and China, two nations known for their expertise in the manufacturing industry, are concentrating on increasing their production and manufacturing capacities through investments in automation. In order to ease sewage treatment in accordance with current environmental standards, more than 700 of Rotork PLC's CK modular electrical actuators were installed at the Shantou wastewater treatment facility in Guangdong, China, in October 2020.

As the home of important automakers such as BMW, Audi, and others, Europe is also expected to experience considerable development in the market for automotive actuators. The expanding oil and gas industry in Middle Eastern nations including Saudi Arabia, Kuwait, Iraq, and others is anticipated to promote market expansion.

This expansion is a result of the expanding hydroelectric power plants. For the purpose of generating electricity, countries in Latin America employ fossil fuels such as coal and oil. The expansion of the region's industrial industry is predicted to increase the need for power generation, which will support market expansion.

List of Market Players Profiled

• MURATA (Japan)
• TDK (Japan)
• MORGAN (U.S.)
• TAIYO YUDEN (Japan)
• KYOCERA (Japan)
• CeramTec (Germany)
• PI Ceramic (Germany)
• Exelis (U.S.)
• Sparkler Ceramics (India)
• KEPO Electronics (China)
• APC International (U.S.)
• TRS (U.S.)
• Noliac (Denmark)
• Smart Material (U.S.)
• SensorTech (U.S.)
• Meggitt Sensing (UK.)
• Johnson Matthey (UK.)
• Kinetic Ceramics (U.S.)
• Konghong Corporation (China)
• Jiakang Electronics (China)
• Datong Electronic (U.S.)
• Audiowell (Albama)
• Honghua Electronic (China)
• Risun Electronic (India)
• Yuhai Electronic Ceramic (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth