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Global Motor Soft Starter Market size is predicted to reach $4 billion by 2030, growing at a CAGR of 7% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. This growth is driven by motor soft starter market is experiencing a notable trend with the increasing adoption of IIoT (Industrial Internet of Things). Industries are integrating IIoT to monitor and control motors more effectively. IIoT-enabled soft starters offer real-time data, predictive maintenance capabilities, and remote diagnostics, improving overall efficiency and reliability. This integration addresses the growing demand for advanced motor control solutions, facilitating proactive maintenance practices and optimizing operational performance in the motor soft starter market, finds IndustryARC in its recent report, titled “Motor Soft Starter Market – – By Voltage (Low Voltage (up to 690V), Medium Voltage (690V to 6.6kV), High Voltage (above 6.6kV)), By Application (Pump, Compressor, Fan, Conveyor, Crushers, Mixers, Extruders, Others), By End Use Industry (Oil & Gas, Power Generation, Water & Wastewater, Mining, Manufacturing, Chemical & Petrochemical, Automotive, Food & Beverage, Construction, Paper & Pulp, Pharmaceuticals and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030”
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APAC to Register Highest Growth:
The APAC Motor Soft Starter Market is projected to experience a significant growth CAGR of 8.6% during the forecast period. Several factors contribute to this robust expansion. Rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations are significantly driving the demand for motor soft starters. For instance, in December 2022, The launch of the AltivarTM Soft Starter ATS480 in the Indian market was announced by Schneider Electric, a leader in the world of digital energy management and automation. These regions are investing heavily in infrastructure projects, manufacturing facilities, and energy sectors, all of which require efficient motor control solutions. Another significant development factor in APAC is the region’s rising oil and gas consumption. Motor soft starter usage is becoming critical as businesses in this region strive to lower operating costs and increase energy efficiency. Industrial equipment operates better and lasts longer when these devices are used to lessen the mechanical stress placed on motors at startup. The sector is also being helped by government programs that encourage energy efficiency and the integration of cutting-edge technologies into industrial operations. The existence of several small and medium-sized businesses (SMEs) that are gradually realizing the advantages of these gadgets for cost savings and operational efficiency is another factor helping the APAC motor soft starter market. All things considered, the region’s strong economic expansion and emphasis on modernization are expected to greatly expand the motor soft starter market in the upcoming years.
Motor Soft Starter Market 2023-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2022 |
|
Forecast Period |
2024–2030 |
|
CAGR |
7% |
|
Market Size in 2030 |
$4 billion |
|
Segments Covered |
By Voltage, By Application, By End User, and By Region |
|
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. ABB Ltd. 2. Siemens AG 3. Schneider Electric SE 4. Eaton Corporation plc 5. Rockwell Automation, Inc. 6. Emerson Electric Co. 7. WEG S.A. 8. Danfoss A/S 9. Toshiba Corporation 10. Mitsubishi Electric Corporation 11. Anmol Auto Electricals 12. Phasetronics Inc. 13. SEG Automotive 14. MAHLE GmbH 15. Sinotech, Inc. |
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Motor Soft Starter Market Report – Key Takeaways:
Low Voltage (up to 690V) Segment is Leading the Market
Low Voltage (up to 690V) segment is dominating the market in 2023 with a market share of 42.5%. The market for motor soft starters is dominated by the low voltage (up to 690V) segment because of its many benefits and broad use. A wide range of industries, including manufacturing, food and beverage, and small- to medium-sized industrial applications, heavily rely on low-voltage motor soft starts. Because they are affordable, simple to install, and can meet these sectors’ operational demands, these devices are recommended. The increased emphasis on energy efficiency and cutting operational expenses is one of the main factors propelling the low-voltage motor soft starter market. By reducing mechanical stress and electrical surges during equipment startup, these starters not only increase equipment longevity but also save a substantial amount of energy. Technology has also aided in the creation of low-voltage motor soft starts that are more dependable and efficient, which has increased their use. The growing investments in industrial automation and infrastructure projects also contribute to the market’s rise. Low-voltage motor soft starters are expected to become more and more in demand as companies develop and look for technology that performs better. All things considered, these continued trends and advances are projected to further solidify the low voltage segment’s dominant position.
Pumps Segment is Leading the Market
The pumps segment is dominating the market with a highest market share of 30% in 2023. The market for motor soft starters is being led by the pump segment because of its vital function in numerous commercial and industrial applications. Pumps are crucial parts of industries like chemical processing, oil and gas production, water and wastewater treatment, and agriculture. Motor soft starters are essential because reliable and efficient pump operation is required. By limiting electrical surges, lowering mechanical stress, and enabling smooth and regulated motor starts, these devices extend the life of pump systems. The growing focus on energy efficiency is one of the main causes of the pump segment’s dominance. By facilitating a progressive increase in motor speed, motor soft starters contribute to the optimization of energy usage. This results in notable energy savings and reduced operating expenses. Motor soft starts are becoming more and more popular in pump applications thanks to technological developments in their design, which include features like torque control and integrated protective systems. Better performance, less maintenance requirements, and increased system reliability are all guaranteed by these developments. Industry emphasis on sustainability and efficiency should only strengthen the pump segment’s dominant position in the motor soft starter industry.
High Initial Costs is a Major Challenge
One major challenge in the motor soft starter market is the high initial costs associated with these devices. Motor soft starters are more expensive compared to traditional motor starters due to their advanced features and capabilities, such as controlled acceleration and deceleration, reduced mechanical stress, and enhanced energy efficiency. These high upfront costs can be a significant barrier for small and medium-sized enterprises (SMEs) that operate on tight budgets. Additionally, the cost of integrating these starters into existing systems and the need for skilled personnel to manage and maintain them can further escalate expenses. Overcoming this challenge requires increased awareness of the long-term benefits and cost savings that motor soft starters offer, as well as potential government incentives or financing options to help offset initial investment costs.
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Key Opportunity Analysis:
Rapid Industrialization and Infrastructure Development
Rapid industrialization and infrastructure development, particularly in emerging economies, offer a robust opportunity for the motor soft starter market. Countries in regions such as Asia-Pacific and Latin America are investing heavily in building new industrial facilities, power plants, and water treatment plants. These developments require efficient motor control solutions to ensure smooth and reliable operations. Motor soft starters are essential in these applications, providing controlled starts and stops, reducing mechanical wear, and enhancing equipment lifespan. The surge in infrastructure projects is expected to drive significant demand for motor soft starters.
Increasing Emphasis on Energy Efficiency
The growing focus on energy efficiency presents a significant opportunity for the motor soft starter market. As industries and governments worldwide aim to reduce energy consumption and carbon footprints, the demand for energy-efficient solutions like motor soft starters is rising. These devices help in minimizing energy usage by controlling the motor’s acceleration and reducing inrush currents, leading to significant energy savings and lower operational costs. The emphasis on sustainability and stringent energy regulations are driving the adoption of motor soft starters, providing a substantial market opportunity.
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The report also covers the following areas:
Motor Soft Starter Market 2023-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
The COVID-19 pandemic significantly impacted the motor soft starter market, causing disruptions in supply chains, project delays, and reduced industrial activities. Lockdowns and restrictions led to halted production lines, delaying installation of new soft starter systems. Additionally, economic uncertainty prompted businesses to defer non-essential investments, affecting market growth. However, the pandemic also accelerated digitalization efforts, driving demand for remote monitoring and control solutions, thereby offering opportunities for market recovery. As industries gradually resumed operations, the focus on energy efficiency and equipment reliability further bolstered demand for motor soft starters, as they play a crucial role in optimizing motor performance and reducing downtime.
The Russia-Ukraine crisis can impact the motor soft starter market due to disruptions in the global supply chain and fluctuations in raw material prices. Both Russia and Ukraine are significant producers of metals and minerals used in manufacturing soft starter components. Any disruption in the supply of these materials could lead to shortages and price hikes, affecting production and pricing in the motor soft starter market. Additionally, geopolitical tensions may create uncertainty in the business environment, influencing investment decisions and market growth. Companies in the motor soft starter market should closely monitor the situation and adapt their strategies to mitigate potential risks.
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List of Key Market Players in the Motor Soft Starter Market:
The Global Motor Soft Starter Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
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