Soft Starter Market to Reach US$ 3.1 Billion, Globally, by 2032 at 4.3% CAGR: IMARC Group

IMARC Group's report titled "Soft Starter Market Report by Type (Low Voltage Soft Starter, Medium to High Voltage Soft Starter), Application (Pumps, Fans and Blowers, Compressors), End Use Industry (Mining and Metal, Food and Beverage, Energy and Power, Oil and Gas, and Others), and Region 2024-2032". The global soft starter market size reached US$ 2.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.3% during 2024-2032.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/soft-starter-market/requestsample

Factors Affecting the Growth of the Soft Starter Industry:

• Increasing Industrial Automation:

Industrial automation is a key driver propelling the growth of the soft starter industry. With the continuous advancement in technology, there is a growing demand for efficient and automated systems across various industries such as manufacturing, oil and gas, water treatment, and mining. Soft starters play a crucial role in controlling the start-up process of electric motors, reducing mechanical stress, and extending motor lifespan. As industries increasingly adopt automation to streamline processes, enhance productivity, and minimize operational costs, the demand for soft starters is expected to increase. Moreover, stringent regulations related to energy efficiency and environmental sustainability are encouraging industries to implement energy-efficient solutions like soft starters to reduce power consumption and carbon emissions. Additionally, the integration of soft starters with smart technologies such as the Internet of Things (IoT) and cloud computing enables remote monitoring, predictive maintenance, and real-time optimization, further driving their adoption across industries.

• Growing Emphasis on Energy Efficiency:

Another significant factor contributing to the growth of the soft starter industry is the increasing emphasis on energy efficiency. Industries are under pressure to minimize energy consumption and comply with regulatory standards aimed at reducing carbon footprint. Soft starters offer a cost-effective solution to optimize energy usage by controlling the acceleration and deceleration of electric motors, thereby reducing inrush current and mechanical stress during motor start-up. By preventing sudden voltage spikes and current surges, soft starters help in maintaining stable power supply and improve the overall efficiency of motor-driven systems. Furthermore, the rising awareness about the benefits of energy-efficient technologies and the availability of government incentives and rebates for adopting such solutions are driving the adoption of soft starters across various industrial sectors. As companies strive to achieve sustainability goals and reduce operating expenses, the demand for soft starters is anticipated to witness significant growth in the coming years.

• Expansion of Infrastructure Projects:

The expansion of infrastructure projects worldwide is fueling the demand for soft starters in various sectors such as construction, water and wastewater management, and HVAC (Heating, Ventilation, and Air Conditioning). With rapid urbanization and industrialization, there is a need for reliable and efficient electrical systems to support infrastructure development initiatives. Soft starters play a crucial role in ensuring smooth operation and protection of electrical equipment, including pumps, compressors, and conveyors, which are integral to infrastructure projects. Moreover, the growing focus on sustainable infrastructure and green building practices is driving the adoption of energy-efficient solutions like soft starters in construction and building automation applications. Additionally, the deployment of renewable energy sources such as wind turbines and solar panels necessitates the use of soft starters to manage the start-up process and optimize energy generation. As infrastructure investments continue to rise globally, the demand for soft starters is expected to witness steady growth, especially in emerging markets experiencing rapid industrialization and urban development.

Leading Companies Operating in the Global Soft Starter Industry:

• ABB Ltd.
• AuCom Electronics Ltd. (Benshaw Inc)
• Carlo Gavazzi Holding AG
• CG Power and Industrial Solutions
• Danfoss Group
• Eaton Corporation PLC
• Littelfuse Inc.
• OMRON Corporation
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• SOLCON

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/soft-starter-market

Soft Starter Market Report Segmentation:

By Type:

• Low Voltage Soft Starter
• Medium to High Voltage Soft Starter

Medium to high voltage soft starter represented the largest segment due to the increasing adoption of these starters in industries requiring higher voltage applications such as oil and gas, mining, and heavy manufacturing, where robust motor control is essential for operational efficiency and equipment protection.

By Application:

• Pumps
• Fans and Blowers
• Compressors

Pumps represented the largest segment as pumps are extensively used across various industries including water treatment, oil and gas, and manufacturing, and soft starters are commonly employed to control the start-up process of pumps, optimizing energy usage and extending equipment lifespan.

By End Use Industry:

• Mining and Metal
• Food and Beverage
• Energy and Power
• Oil and Gas
• Others

Oil and gas represented the largest segment owing to the extensive use of soft starters in upstream, midstream, and downstream operations of the oil and gas sector, where they are utilized for controlling the start-up of pumps, compressors, and other critical equipment, enhancing operational efficiency and safety.

By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America's dominance in the soft starter market is attributed to the presence of a mature industrial sector, stringent regulations related to energy efficiency and environmental protection, and increasing investments in infrastructure projects, driving the demand for soft starters across various industries in the region.

Global Soft Starter Market Trends:

The global market is primarily driven by the increasing emphasis on energy efficiency and sustainability in industrial operations. Additionally, continual technological advancements in soft starter technology, such as improved reliability, compact designs, and enhanced functionality, are driving market adoption.

Moreover, with the ongoing infrastructure development projects worldwide, particularly in emerging economies, the demand for soft starters in construction applications is contributing to market growth. Furthermore, the increasing demand for soft starters in the HVAC (Heating, Ventilation, and Air Conditioning) sector is fueling the demand for this product in the market.

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