Motor Soft Starter - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Motor Soft Starter Market is accounted for $1.92 billion in 2019 and is expected to reach $3.55 billion by 2027 growing at a CAGR of 8.0% during the forecast period. Rising demand for heating, ventilation, and air conditioning (HVAC) application and increasing adoption of industrial pumps are some of the factors propelling the growth of the market. However, the preference for variable frequency drives (VFDs) due to functional superiority and cost-effectiveness is hampering the growth of the market.
The motor soft starter is used to minimize the inrush current formed during motor start-up thereby enhancing efficiency and prolonging the shelf life of motors. Soft starters have widespread applications across different industries such as oil & gas, mining, and power generation industries. The soft starter helps in controlling motor acceleration thus preventing the damage of the motor in the entire process. This equipment can be installed with pumps, compressors, fans, among other devices to control the flow of current to the desired level.
Based on the voltage, the low voltage segment is anticipated to hold considerable market share during the forecast period owing to their widespread adoption in various process industries across the globe and rise in greenfield industrial investments, especially in the Asia Pacific. By geography, Asia Pacific is expected to grow at a significant market share during the forecast period due to increased investments in construction, power generation, and industrialization projects, increasing power generation capacity additions and electricity demand.
Some of the key players profiled in the Motor Soft Starter Market include WEG, Toshiba, Solcon, Gozuk, Schneider Electric, Rockwell Automation, Nolta, Motortronics, Lovato Electric, Sinova, Emerson Electric, Siemens, Danfoss, Crompton Greaves, Minilec, Benshaw, ABB, Carlo Gavazzi, Eaton, and Larsen & Toubro.
Rated Powers Covered:
• Up to 750 W
• 751 W–75 kW
• Above 75 kW
• 3-Phase Controlled Soft Starter
• 2-Phase Controlled Soft Starter
• Elevators & Escalators
• Other Applications
End Users Covered:
• Water & Wastewater
• Power Generation
• Oil & Gas
• Other End Users
• Low Voltage
• Medium Voltage
• High Voltage
• Mechanical Soft Starters
• Mechanical and Electrical Soft Starters
• Electrical Soft Starters
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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