The 2013 global market for piezoelectric operated actuators and motors was estimated to be $11.1 billion, according to a recently published report from iRAP Inc. The market is estimated to reach $16 billion by 2018, showing a compounded annual growth rate (CAGR) of 7.7% per year.

The market for piezoelectric-operated actuators and motors in micron- to nanoscale (ultra-small-scale precision motion) related applications is expected to be the largest segment in 2013, and projected to grow with a CAGR of 7.6%, growing from $5,900 million in 2013 to $8,520 million in 2018. The second biggest segment is autofocus mechanism (AFM) kits used in phone cameras and digital cameras, with a growth rate of 6.5%, growing from $3,740 million in 2013 to $4,900 million in 2018. The third major segment includes microscope lenses autofocus and zoom mirror adjustment, and image stabilization for ultra-precision imaging and resolution enhancement, which is estimated to grow with a higher CAGR of 15.3%, from $606 million to $1,238 million. The remaining is a market mix segment consisting of fuel injectors used in automotive applications, micropumps, piezo valves, microblowers, MEMS piezo actuators and similar products, estimated to have a growth rate of 7% for the period 2013-2018.

Industrial and manufacturing is still the largest application market for piezoelectric devices, followed by the automotive industry. However, the strongest demand comes from medical instruments and information and telecommunication, which are gaining increasing importance among piezoelectric device suppliers.

North America has the largest regional market share, followed by Europe and Japan, with the balance for China and the rest of the world.

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