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Motor Soft Starter Market worth $3.64 billion by 2030, growing at a CAGR of 6.42% - Exclusive Report by 360iResearch
Motor Soft Starter Market | 360iResearch
The Global Motor Soft Starter Market to grow from USD 2.35 billion in 2023 to USD 3.64 billion by 2030, at a CAGR of 6.42%.
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A motor soft starter is an electronic device that gradually increases the voltage of an electric motor, allowing it to start smoothly and reduce mechanical and electrical stress during the startup phase. A soft starter avoids the abrupt impact of direct-on-line starting by controlling the acceleration of the motor, which can result in high currents and torque. Rising demand for industrial pumps with increasing refineries worldwide and growing investments in water and wastewater treatment projects attributed to motor soft starter market growth. The increasing trend toward industrial automation supports enhancements in smart connectivity features, fueling market growth. The high cost of designing and manufacturing motor soft starters and compatibility issues with the motor soft starter need ongoing support and maintenance, which is restricting the market growth. Furthermore, growing advancements in motor soft starters allow for smart and predictive maintenance of soft starters, and the rising integration of motor soft starters in renewable energy systems is creating growth opportunities in the market.
The motor soft starter market in the Americas is experiencing growth due to the significant adoption of advanced motor control technologies across various industries, including manufacturing, HVAC, and water & wastewater treatment. The United States is a major country in the region's motor soft starter market, propelled by stringent energy consumption regulations and increased emphasis on industrial automation. Energy efficiency initiatives, such as the NEMA Premium Efficiency Motors program also contribute to the growth of the soft starter market in the region. The Asia-Pacific region is experiencing a high-growth motor soft starter market, primarily driven by rapid industrialization and infrastructure development, especially in China, India, and Southeast Asia. The region benefits from local manufacturers offering cost-effective soft starters, which are becoming increasingly popular due to the rising energy costs and focus on energy conservation in these nations. In the EMEA region, Europe stands out as a mature market for motor soft starters due to established industries and high awareness about energy efficiency. The European market is supported by stringent EU regulations emphasizing energy-efficient machinery and industrial solutions. The Middle East shows potential for growth in line with the region's efforts to diversify economies and develop their manufacturing sectors.
Market Segmentation & Coverage:
This research report categorizes the Motor Soft Starter Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Voltage Range, market is studied across 2.3 KV to 13.8 KV, Above 13.8 KV, and Below 2.3 KV. The Below 2.3 KV commanded largest market share of 64.25% in 2023, followed by 2.3 KV to 13.8 KV.
Based on Rated Power, market is studied across Above 100 kW and Upto 100 KW. The Upto 100 KW commanded largest market share of 69.09% in 2023, followed by Above 100 kW.
Based on Application, market is studied across Compressor, Conveyor Belt, Fan, and Pump. The Pump commanded largest market share of 53.20% in 2023, followed by Compressor.
Based on Vertical, market is studied across Mining, Oil & Gas, Power Generation, and Water & Wastewater. The Power Generation commanded largest market share of 49.33% in 2023, followed by Oil & Gas.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 37.04% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Motor Soft Starter Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Motor Soft Starter Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Motor Soft Starter Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Amtech Electronics India Limited, Benshaw Inc., Carlo Gavazzi Holding AG, CG Power And Industrial Solutions Limited, CHINT Group Co., Ltd., Crompton Greaves Consumer Electricals Limited, Danfoss A/S, Eaton Corporation PLC, Eltech Engineering, Emerson Electric Co., Hitachi, Ltd., ICM Controls, JT Engineering Solutions, Larsen & Toubro Limited, Lecon Energetics Pvt. Ltd., Libratherm Instruments Pvt. Ltd., Littelfuse, Inc., LOVATO Electric S.p.A., LS ELECTRIC CO., LTD., Mitsubishi Electric Corporation, Motortronics, Nidec Corporation, NOLTA GmbH, Param Controls, Rockwell Automation, Inc., Schneider Electric SE, Shakti Pumps (India) Limited, Shenzhen Gozuk Co., Limited, Shenzhen Inomax Technology Co.Ltd, Shenzhen Powtech Co., Ltd., Shenzhen Sinovo Electric Technologies Co., Ltd., Siemens AG, Solcon-IGEL Group, Sprecher + Schuh, TECO Electric & Machinery Co., Ltd., Toshiba Corporation, WEG S.A., Xcellent Enterprise, and Xi'an Xichi Electric Co., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Motor Soft Starter Market, by Voltage Range
7. Motor Soft Starter Market, by Rated Power
8. Motor Soft Starter Market, by Application
9. Motor Soft Starter Market, by Vertical
10. Americas Motor Soft Starter Market
11. Asia-Pacific Motor Soft Starter Market
12. Europe, Middle East & Africa Motor Soft Starter Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Motor Soft Starter Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Motor Soft Starter Market?
3. What is the competitive strategic window for opportunities in the Motor Soft Starter Market?
4. What are the technology trends and regulatory frameworks in the Motor Soft Starter Market?
5. What is the market share of the leading vendors in the Motor Soft Starter Market?
6. What modes and strategic moves are considered suitable for entering the Motor Soft Starter Market?
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