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Enclosed Motor Starter Market Analysis, Top Drivers, Key Players, Segmentation And Forecast To 2033
Enclosed Motor Starter Market Analysis
As per the report, the enclosed motor starter market size has grown strongly in recent years. It will grow from $1.66 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The enclosed motor starter market size is expected to see strong growth in the next few years. It will grow to $2.22 billion in 2028 at a compound annual growth rate (CAGR) of 6%.
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Rise In Industrial Automation Expected To Propel Growth Of Enclosed Motor Starter Market
The rise in industrial automation is expected to propel the growth of the enclosed motor starter market going forward. Industrial automation refers to using digital logical programming and mechanized equipment to operate machines and minimize the need for human intervention in decision-making and manual commands. The rise in industrial automation is due to technological advancements, increased emphasis on safety and compliance, and rising demand for real-time data analysis. Enclosed motor starters aid industrial automation by providing reliable and protected control of motors, enhancing operational efficiency and safety. For instance, in October 2022, according to a report published by the International Federation of Robotics, a Germany-based professional non-governmental organization, factories worldwide saw the deployment of 517,385 new industrial robots, a significant increase from the approximately 39,400 new industrial robots recorded in 2020. Therefore, the rise in industrial automation will drive the enclosed motor starter market.
Innovative Products Enhanced Market With Advanced Features
Major companies operating in the enclosed motor starter market are developing innovative products, such as enclosed soft-start motor control systems, to serve customers with advanced features better. An enclosed soft start motor control system is a motor control device that combines the functions of a soft starter and a circuit breaker in a single, compact enclosure. For instance, in September 2021, Danfoss, a Denmark-based industrial machinery manufacturer, launched VLT Soft Starter MCD 600, a compact and intelligent soft starter designed for fixed-speed applications. The MCD 600 provides a smooth and controlled start-up, reducing the risk of motor damage and improving overall efficiency. The features ensure high efficiency and harmonic-free operation at full speed, reducing energy consumption and required cooling capacity. The soft starter features a user-friendly interface with a quick set-up menu, log menu, and pump-clean functionality, making it easy to configure and monitor. It includes extensive motor and starter protections to ensure uptime and reduce maintenance needs.
The enclosed motor starter market covered in this report is segmented -
1) By Type: Metal Shell, Plastic Shell
2) By Power Source: Alternate Current, Direct Current
3) By Application: Commercial, Industrial
4) By Sales Channel: Direct Sales, Distributors
5) By End User: Automotive Industry, Oil And Gas, Power Plants, Manufacturing Units
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Major companies operating in the enclosed motor starter market are Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd, Eaton Corporation, Nidec Motor Corporation, Danfoss Inc., Rockwell Automation Inc., Fuji Electric Co. Ltd., WEG S.A., Hubbell Incorporated, Yaskawa Electric Corporation, SEW-EURODRIVE GmbH & Co KG, Franklin Electric Co. Inc., Leviton Manufacturing Co. Inc., Baldor Electric Company, Benshaw Inc., Toshiba International Corporation, C3 Controls Company Inc., Sprecher + Schuh AG, Springer Controls Company Inc., MCI Control Solutions LLC, Allied Power and Control Inc., LS Industrial Systems Co. Ltd.
Contents of the report:
1. Executive Summary
2. Enclosed Motor Starter Market Report Structure
3. Enclosed Motor Starter Market Trends And Strategies
4. Enclosed Motor Starter Market - Macro Economic Scenario
5. Enclosed Motor Starter Market Size And Growth
…..
27. Enclosed Motor Starter Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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