Global Motor Soft Starter Market Size is estimated to expand rapidly in coming years, at a CAGR of 7.6 % from 2019 to 2027. In 2017, the global market valuation was USD 1.85 billion, and it is anticipated to be greater than USD xx.xx billion by 2027. Motor soft starter decreases the in-crush current that is generated while the engine is starting to increase the efficiency and increase the longevity of the engines. Soft beginners work in various industries such as petroleum & gas industry, mining industry and electricity generation. The soft starting starter helps control motor acceleration so that the entire process prevents damage to the engine. Such equipment can be mounted, among other items, with pumps, compressors, fans to regulate current flow to the desired level.
Increasing the use of motor soft starters and the need for the HVAC control system in accordance with cost-effectiveness and minimum space requirements in industrial pumps is crucial to global growth.
The factors that impede the growth of the market are VFD's (Variable Frequency drive) preference for soft starters due to their superiority and cost-efficiency. Improved use of engines across industries combined with numerous fixed-speed applications is expected to offer the market ample opportunities for growth. Growing renewable energy issues constitute an important market challenge for investors and key players in the industry.
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global motor soft starter market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global motor soft starter market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Voltage Insights: On the basis of voltage, global motor soft starter market has been segmented into low and medium. During the forecast period, the low voltage segment is projected to be the largest market. The demand of the soft engine starter is divided into low and medium voltage by voltage. Due to their widespread adoption in various process industries around the world, low-voltage motor soft starters are expected to grow. Global investments in green-field industries, especially in Asia Pacific, are growing and the demand for soft low-voltage motor starters is likely to increase during the forecast period.
By Industry Insights: On the basis of industry, global motor soft starter market has been segmented into oil & gas, water and wastewater, power generation, mining. Among which oil and gas segment has accounted for largest share. The engine soft starter is divided by industry into oil and gas, water and waste water, power generation, mining and others that include chemicals, cement & drink, food & beverage, pulp & paper and civil engineering. The growth of the motor soft-starter market in the petroleum / gas industry is expected to raise expenditure upstream to meet the rising prices.
The motor soft starter market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. It is estimated that from 2018 through 2027 Asia Pacific is the largest market. The increased investment in infrastructure, power generation and industrialization projects is expected to result in high demands for motor soft starters. In addition, the rising capacity generation and electricity demand is expected to further boost the market for soft motors in the region.
Global Motor Soft Starter Market Size, Trends Analysis by Region 2019-2027
It is estimated that North America, the dominating country in motor soft starter market will show considerable growth during the forecast period. The growth would be possible because of marketing analytics tools and because of existing players that are firmly established in the market since the beginning. In addition to that, government agencies, companies, third-party administrators, etc. are channelizing their efforts to make customer-centric products which will also contribute to the growth in this region. Rising demand, increased income, advanced technology and machinery, along with the programs for spreading the awareness of the need will likely cause the motor soft starter market to grow substantially.
Asia-Pacific is supposed to have greater demand in the forecast year because of the fast-growing population. This factor alone stands out as the reason why the region will be dominating the motor soft starter market share in the given forecast period. Due to improvements in GDP per capita and infrastructure development has urbanized the region to greater extent turning rural areas into urban areas. The sudden surge in the demand has caused the cities to fall into unsustainable consumption models. The top key players in the motor soft starter market are located in the region.
As large projects are ongoing in countries like China, India, Australia, and Indonesia in Asia Pacific, the region has potential to bypass any competition. This is also because of the great amount of reserves that the region has. Exploration activities in China are increasing which is why China may have great demand for tin catalysts and compounds. According to the National Bureau of Statistics, motor soft starter market will increase the regional demand during the forecast period.
Global Motor Soft Starter Market Study Objective
To forecast the market size of motor soft starter market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
Market analysis and forecast of motor soft starter market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
To analyze and elaborate significant factors that will have a major impact on the growth of motor soft starter market, such as drivers, restraints, challenges, and opportunities.
The regional analysis of motor soft starter market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
To provide detailed analysis of competitive and strategic developments in the motor soft starter market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
ABB Ltd., Siemens AG, Eaton Corporation PLC, Schneider Electric SE, General Electric Company, Emerson Electric Co., Rockwell Automation, Inc., Littelfuse Inc., WEG SA, and Crompton Greaves Limited are some of the key players in the market of motor soft starter.
In order for companies to become marketplaces, they are undertaking strategic initiatives in both developed and developing countries, such as fusions and acquisitions, new product development and risk capital investments. Industries invest in technological solutions to improve distribution, front end sales and service to customers.
Global Motor Soft Starter Market Study Report Offer You!
The global motor soft starter market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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