The global piezoelectric motor market is poised to embark on a modest growth trajectory, expanding at a CAGR of over 4% in the forecast period (2020-2030). This is attributed to the growing trend of miniaturization and greater focus on piezoelectric.

The global piezoelectric motor market is projected to grow at a moderate rate of over 4% between 2020 and 2030, says Fact.MR. Piezoelectric motor is utilized in a wide array of applications such as photonics, manufacturing process control, medical devices and meteorology.

Currently, most of the manufacturing industries like automotive, optics & phonics, are shuttered due to the COVID-19 outbreak, resulting in a downturn in piezoelectric motor sales.

However, rapidly evolving production processes like 3D printing and advanced robotics are driving the need for motion control systems and miniature devices, which in turn will boost the growth of the piezoelectric motors market in the coming years.

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Application areas such as robotics and factory automation in various industries have resulted in the high demand growth of piezoelectric motors. The robotics and factory automation segment, combined, are estimated to witness an absolute dollar opportunity of US$ ~27 Mn between 2020 and 2030.

Additionally, medical equipment and device manufacturers are rapidly moving towards the adoption of piezoelectric motors vis-a-vis electromagnetic motors. These include surgical devices, 3D scanners, MRI compatible robotics, ultrasonic emitters, drug delivery devices, laser beam steering, and devices used in dermatology, cosmetology, and ophthalmology.

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