HOME Top Market Reports Motor Soft Starter Market by Voltage (Low & Medium), Rated Power (Up to 100 kW & >100 kW), Application (Pumps, Fans, & Compressors), Industry (Oil & Gas, Water & Wastewater, Power Generation, & Mining), and Region - Global Forecast to 2022

Motor Soft Starter Market by Voltage (Low & Medium), Rated Power (Up to 100 kW & >100 kW), Application (Pumps, Fans, & Compressors), Industry (Oil & Gas, Water & Wastewater, Power Generation, & Mining), and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: May 2017
Report Code: EP 3729

 

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The global motor soft starter market is estimated to be USD 1.37 Billion in 2017 and is expected to grow at a CAGR of 6.08% from 2017 to 2022. Increasing demand for industrial pumps and HVAC applications is one of the major factors driving the motor soft starter market.

The years considered for the study are as follows:

  • Base Year: 2016
  • Estimated Year: 2017
  • Projected Year: 2022
  • Forecast Period: 2017–2022

2016 has been considered as the base year for company profiles. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, describe, and forecast the global motor soft starter market on the basis of voltage, rated power, application, industry, and region
  • To provide detailed information regarding the major factors influencing the growth of the motor soft starter market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the motor soft starter market with respect to individual growth trends, future prospects, and contributions of each segment to the market
  • To analyze market opportunities for stakeholders and to provide details of the competitive landscape for market leaders
  • To benchmark players within the market using the proprietary Vendor DIVE framework, which analyzes market players on various parameters within the broad categories of business and product strategy
  • To strategically profile key players and comprehensively analyze their market shares and core competencies*
  • To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the motor soft starter market

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global motor soft starter market. Primary sources are mainly industry experts from core and related industries, preferred suppliers, manufacturers, distributors, technology developers, standard & certification organizations of companies, and organizations related to all the segments of this industry’s value chain. The points given below explain the research methodology.

  • Study of annual revenue and market developments of major players that provide motor soft starters
  • Analysis of major applications and end-use industries of motor soft starters
  • Assessment of future trends and growth of the motor soft starter market on the basis of investments for motor control centers in control & automation industry
  • Assessment of the motor soft starter market with respect to the rated power of motor soft starters used for different applications
  • Study of market trends in various regions/countries supported by the voltage of motor soft starter used for various applications
  • Study of contracts and developments related to the motor soft starter market by key players across different regions
  • Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chain, and annual revenues of companies manufacturing motor soft starters across the globe

After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure given below illustrates the breakdown of primaries conducted during the research study on the basis of company type, designation, and region.

Motor Soft Starter Market

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem:

Motor Soft Starter Market

The ecosystem of the global motor soft starter market starts with raw material/component suppliers, which include digital interface, Silicon-Controlled Rectifier (SCR), comparators, microcontrollers, and power supply units. In the later stage, manufacturing of motor soft starters takes place where all components are assembled. After the finalization assembly, the motor soft starter is tested. These devices are then distributed to end-users such as water & wastewater, oil & gas, power generation, pulp & paper, cement, chemicals & petrochemicals, and mining industries.

Target Audience:

The report’s target audience includes:

  • Soft starter manufacturers, distributors, and suppliers
  • State and national regulatory authorities
  • Consulting companies in energy & power and industrial sectors
  • Institutional investors/shareholders
  • Environmental research institutes
  • Process industries and power & energy associations
  • Government and research organizations

Scope of the Report:

  • By Voltage
    • Low Voltage
    • Medium Voltage
  • By Rated Power  
    • Up to 100 kW
    • Above 100 kW
  • By Application
    • Pumps
    • Fans
    • Compressors
    • Others
  • By Industry
    • Oil & Gas
    • Water & Wastewater
    • Power Generation
    • Mining
    • Others
  • By Region
    • Asia-Pacific
    • Europe
    • North America
    • Middle East & Africa
    • South America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

Further breakdown of region/country-specific analysis

Company Information

Detailed analysis and profiling of additional market players (Up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 32)
    4.1 Motor Soft Starter Market, By Region
    4.2 Motor Soft Starter Market, By Application
    4.3 Motor Soft Starter Market, By Voltage
    4.4 Motor Soft Starter Market, By Rated Power
    4.5 Motor Soft Starter Market, By Industry
    4.6 Asia-Pacific Motor Soft Starter Market

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increase in Demand for Industrial Pumps
                    5.2.1.2 Rising Demand for HVAC Applications
                    5.2.1.3 Cost Effectiveness & Minimal Space Requirements
           5.2.2 Restraints
                    5.2.2.1 Functional Superiority and Competitive Pricing of Variable Frequency Drives (VFDS)
           5.2.3 Opportunities
                    5.2.3.1 Investments in Sectors Other Than Oil & Gas in the Middle East
                    5.2.3.2 Growth of Fixed Speed Applications
           5.2.4 Challenges
                    5.2.4.1 Growing Focus on Renewable Energy
    5.3 Supply Chain Analysis

6 Motor Soft Starter Market, By Voltage (Page No. - 44)
    6.1 Introduction
    6.2 Low Voltage
    6.3 Medium Voltage

7 Motor Soft Starter Market, By Rated Power (Page No. - 49)
    7.1 Introduction
    7.2 Up to 100 kW
    7.3 Above 100 kW

8 Motor Soft Starter Market, By Application (Page No. - 53)
    8.1 Introduction
    8.2 Pumps
    8.3 Fans
    8.4 Compressors
    8.5 Others

9 Motor Soft Starter Market, By Industry (Page No. - 59)
    9.1 Introduction
    9.2 Oil & Gas
    9.3 Water & Wastewater
    9.4 Power Generation
    9.5 Mining
    9.6 Others

10 Motor Soft Starter Market, By Region (Page No. - 66)
     10.1 Introduction
     10.2 Asia-Pacific
             10.2.1 China
             10.2.2 India
             10.2.3 Japan
             10.2.4 Rest of Asia-Pacific
     10.3 Europe
             10.3.1 Germany
             10.3.2 Russia
             10.3.3 France
             10.3.4 U.K.
             10.3.5 Rest of Europe
     10.4 North America
             10.4.1 U.S.
             10.4.2 Canada
             10.4.3 Mexico
     10.5 Middle East & Africa
             10.5.1 Saudi Arabia
             10.5.2 UAE
             10.5.3 South Africa
             10.5.4 Rest of the Middle East & Africa
     10.6 South America
             10.6.1 Brazil
             10.6.2 Venezuela
             10.6.3 Argentina
             10.6.4 Rest of South America

11 Competitive Landscape (Page No. - 101)
     11.1 Overview
     11.2 Market Ranking, Motor Soft Starter Market, 2016
     11.3 Vendor Dive Overview
             11.3.1 Vanguards
             11.3.2 Innovators
             11.3.3 Emerging
             11.3.4 Dynamic
     11.4 Competitive Benchmarking
             11.4.1 Business Strategies Adopted By Major Players in Motor Soft Starter Market (25 Players)
             11.4.2 Analysis of Product Portfolio of Major Players in the Motor Soft Starter Market (25 Players)

12 Company Profiles (Page No. - 107)
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
     12.1 ABB Ltd.
     12.2 Eaton Corporation, PLC
     12.3 Siemens AG
     12.4 General Electric Company
     12.5 Schneider Electric SE
     12.6 Rockwell Automation, Inc.
     12.7 Fairford Electronics Ltd.
     12.8 Emerson Electric Co.
     12.9 Danfoss A/S
     12.10 Carlo Gavazzi Holding AG
     12.11 Littelfuse, Inc.
     12.12 Weg SA
     12.13 Toshiba International Corporation Pty Ltd
     12.14 Crompton Greaves Ltd.

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 149)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details


List of Tables (64 Tables)

Table 1 Global Motor Soft Starter Market Snapshot
Table 2 Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 3 Low Voltage: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 4 Medium Voltage: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 5 Motor Soft Starter Market Size, By Rated Power, 2015–2022 (USD Million)
Table 6 Up to 100 kW: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 7 Above 100 kW: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 8 Motor Soft Starter Market Size, By Application, 2015–2022 (USD Million)
Table 9 Pumps: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 10 Fans: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 11 Compressors: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 12 Others: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 13 Motor Soft Starter Market Size, By Industry, 2015–2022 (USD Million)
Table 14 Oil & Gas: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 15 Water & Wastewater: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 16 Power Generation: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 17 Mining: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 18 Others: Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 19 Motor Soft Starter Market Size, By Region, 2015–2022 (USD Million)
Table 20 Asia-Pacific: Motor Soft Starter Market Size, By Country, 2015–2022 (USD Million)
Table 21 Asia-Pacific: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 22 Asia-Pacific: Motor Soft Starter Market Size, By Rated Power, 2015–2022 (USD Million)
Table 23 Asia-Pacific: Motor Soft Starter Market Size, By Application, 2015–2022 (USD Million)
Table 24 Asia-Pacific: Motor Soft Starter Market Size, By Industry, 2015–2022 (USD Million)
Table 25 China: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 26 India: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 27 Japan: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 28 Rest of Asia-Pacific: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 29 Europe: Motor Soft Starter Market Size, By Country, 2015–2022 (USD Million)
Table 30 Europe: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 31 Europe: Motor Soft Starter Market Size, By Rated Power, 2015–2022 (USD Million)
Table 32 Europe: Motor Soft Starter Market Size, By Application, 2015–2022 (USD Million)
Table 33 Europe: Motor Soft Starter Market Size, By Industry, 2015–2022 (USD Million)
Table 34 Germany: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 35 Russia: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 36 France: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 37 U.K.: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 38 Rest of Europe: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 39 North America: Motor Soft Starter Market Size, By Country, 2015–2022 (USD Million)
Table 40 North America: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 41 North America: Motor Soft Starter Market Size, By Rated Power, 2015–2022 (USD Million)
Table 42 North America: Motor Soft Starter Market Size, By Application, 2015–2022 (USD Million)
Table 43 North America: Motor Soft Starter Market Size, By Industry, 2015–2022 (USD Million)
Table 44 U.S.: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 45 Canada: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 46 Mexico: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 47 Middle East & Africa: Motor Soft Starter Market Size, By Country, 2015–2022 (USD Million)
Table 48 Middle East & Africa: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 49 Middle East & Africa: Motor Soft Starter Market Size, By Rated Power, 2015–2022 (USD Million)
Table 50 Middle East & Africa: Motor Soft Starter Market Size, By Application, 2015–2022 (USD Million)
Table 51 Middle East & Africa: Motor Soft Starter Market Size, By Industry, 2015–2022 (USD Million)
Table 52 Saudi Arabia: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 53 UAE: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 54 South Africa: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 55 Rest of the Middle East & Africa: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 56 South America: Motor Soft Starter Market Size, By Country, 2015–2022 (USD Million)
Table 57 South America: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 58 South America: Motor Soft Starter Market Size, By Rated Power, 2015–2022 (USD Million)
Table 59 South America: Motor Soft Starter Market Size, By Application, 2015–2022 (USD Million)
Table 60 South America: Motor Soft Starter Market Size, By Industry, 2015–2022 (USD Million)
Table 61 Brazil: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 62 Venezuela: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 63 Argentina: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)
Table 64 Rest of South America: Motor Soft Starter Market Size, By Voltage, 2015–2022 (USD Million)


List of Figures (67 Figures)

Figure 1 Motor Soft Starter Market Segmentation
Figure 2 Motor Soft Starter Market: Research Design
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Assumptions of the Research Study
Figure 7 The Asia-Pacific Market Accounted for the Largest Share of the Motor Soft Starter Market in 2016
Figure 8 Medium Voltage Segment is Expected to Grow at the Highest CAGR From 2017 to 2022
Figure 9 Up to 100 kW Segment is Expected to Dominate the Motor Soft Starter Market During the Forecast Period
Figure 10 Pumps Segment is Expected to Witness the Maximum Demand During the Forecast Period
Figure 11 Oil & Gas Segment is Expected to Dominate the Motor Soft Starter Market From 2017 to 2022
Figure 12 Attractive Market Opportunities in the Motor Soft Starter Market, 2017–2022
Figure 13 Asia-Pacific Market is Expected to Grow at the Highest CAGR From 2017 to 2022
Figure 14 The Pumps Segment is Expected to Grow at the Fastest Rate During the Forecast Period
Figure 15 Demand From the Low Voltage Segment is Estimated to Dominate the Motor Soft Starter Market, 2017
Figure 16 The Rated Power Up to 100 kW Segment is Expected to Grow at the Highest CAGR From 2017 to 2022
Figure 17 The Oil & Gas Segment is Expected to Hold the Major Share in the Motor Soft Starter Market During 2017–2022
Figure 18 The Market in China Accounted for the Largest Share of the Asia-Pacific Motor Soft Starter Market in 2016
Figure 19 Increase in Demand of Industrial Pumps is Driving the Motor Soft Starter Market
Figure 20 Global Chemical Market, 2015–2035
Figure 21 Global Construction Output By 2021
Figure 22 Oil & Non-Oil Fiscal Revenue (% of Total Government Revenue), 2015
Figure 23 Supply Chain Analysis: Motor Soft Starter Market
Figure 24 Medium Voltage Motor Soft Starter Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Asia-Pacific: the Fastest Growing Motor Soft Starter Market in the Low Voltage Segment From 2017 to 2022
Figure 26 Medium Voltage Motor Soft Starter Market, By Region, 2017–2022 (USD Million
Figure 27 Up to 100 kW Segment is Expected to Be the Largest Motor Soft Starter Market During the Forecast Period
Figure 28 Up to 100 kW Motor Soft Starter Market, By Region, 2017 & 2022 (USD Million)
Figure 29 Pumps Segment is Expected to Be the Largest Market for Motor Soft Starters During the Forecast Period
Figure 30 Asia-Pacific: the Fastest Growing Motor Soft Starter Market in the Pumps Segment, 2017–2022
Figure 31 Compressors Segment, By Region, 2017–2022 (USD Million)
Figure 32 Oil & Gas Segment is Expected to Be the Largest Market for Motor Soft Starters During the Forecast Period
Figure 33 Oil & Gas Segment, By Region, 2017–2022 (USD Million)
Figure 34 Asia-Pacific: the Fastest Growing Motor Soft Starter Market in the Water & Wastewater Segment, 2017–2022
Figure 35 Power Generation Segment, By Region, 2017
Figure 36 Regional Snapshot: Motor Soft Starter Market (2017–2022)
Figure 37 Asia-Pacific: the Largest & Fastest Growing Motor Soft Starter Market, 2017–2022
Figure 38 Asia-Pacific: Market Snapshot
Figure 39 China: Motor Soft Starter Market, By Voltage, 2017–2022
Figure 40 India: Motor Soft Starter Market, By Voltage, 2017–2022
Figure 41 Europe: Market Snapshot
Figure 42 Germany: Motor Soft Starter Market, By Voltage, 2017–2022
Figure 43 Russia: Motor Soft Starter Market, By Voltage, 2017–2022
Figure 44 U.S.: the Largest Motor Soft Starter Market in North America in 2016
Figure 45 Medium Voltage: the Fastest Growing Voltage Segment in the U.S. During the Forecast Period
Figure 46 Saudi Arabia: the Fastest Growing Motor Soft Starter Market in the Middle East & Africa Region From 2017 to 2022
Figure 47 Saudi Arabia: Motor Soft Starter Market, By Voltage, 2017 & 2022
Figure 48 UAE: Motor Soft Starter Market, By Voltage, 2017–2022
Figure 49 South America: Motor Soft Starter Market, By Country, 2017
Figure 50 Brazil: Motor Soft Starter Market, By Voltage, 2017–2022
Figure 51 Companies Adopted New Product Developments as the Key Growth Strategy, 2014–2017
Figure 52 Market Ranking, Motor Soft Starter Market, 2016
Figure 53 Market Evaluation Framework, 2013–2017
Figure 54 Battle for Market Share (2013–2017): New Product Development Was the Key Strategy Adopted By Major Players
Figure 55 Dive Chart: Motor Soft Starter Market
Figure 56 ABB Ltd.: Company Snapshot
Figure 57 Eaton Corporation, PLC: Company Snapshot
Figure 58 Siemens AG: Company Snapshot
Figure 59 General Electric Company: Company Snapshot
Figure 60 Schneider Electric SE: Company Snapshot
Figure 61 Rockwell Automation, Inc.: Company Snapshot
Figure 62 Emerson Electric Co.: Company Snapshot
Figure 63 Danfoss A/S: Company Snapshot
Figure 64 Carlo Gavazzi Holding AG: Company Snapshot
Figure 65 Littelfuse, Inc.: Company Snapshot
Figure 66 Weg SA: Company Snapshot
Figure 67 Crompton Greaves Ltd.: Company Snapshot

The global motor soft starter market is projected to grow at a CAGR of 6.08% from 2017 to 2022, to reach a market size of USD 1.84 Billion by 2022. This growth is attributed to power generation capacity additions and rapid industrialization in developing countries. The increased use of industrial pumps and growing demand for HVAC systems would boost the demand for motor soft starters.

The report segments the motor soft starter market by rated power into: up to 100 kW and above 100 kW. The up to 100 kW segment is projected to dominate the motor soft starter market and is expected to grow at the fastest rate during the forecast period.

The motor soft market is segmented by application into: pumps, fans, compressors, and others. The pumps segment accounted for the largest market size in 2016. This segment is expected to grow at the fastest growth rate from 2017 to 2022, owing to the increasing use of pumps in industries such as oil & gas, chemical, pulp & paper, and mining. The pumps segment is expected to witness the highest growth in the Asia-Pacific region.

The report segments the motor soft starter market by industry into: oil & gas, water & wastewater, power generation, mining, and others (cement, chemicals & petrochemicals, and paper & pulp). The oil & gas segment accounted for the largest market share in 2016. The water & wastewater segment is also expected to witness the highest CAGR during the forecast period, due to rapid industrialization and urbanization in regions such as Asia-Pacific and the Middle East & Africa.

In this report, the motor soft starter market has been analyzed with respect to five regions, namely, Asia-Pacific, Europe, North America, the Middle East & Africa, and South America. Asia-Pacific is projected to dominate the global motor soft starter market by 2022 and is expected to grow at the highest CAGR from 2017 to 2022. There has been growing power demand in the Asia-Pacific region. As a result of this, substantial investments have been made in the region to augment power generation capacities. These investments are expected to boost the demand for motor soft starters. Countries such as India, Japan, Australia, and South Korea are driving the motor soft starter market in the Asia-Pacific region. Asia-Pacific has some of the key companies including Larsen & Toubro (India) and Toshiba International Corporation Pty Ltd. (Australia).

Motor Soft Starter Market

Variable Frequency Drives (VFDs) offer energy saving and wide range of applications that require speed control, high torque, or continuous feedback for critical position control. Motor soft starters are used in applications which require low or medium torque. Therefore, VFDs find numerous application such as motors, pumps, fans, and compressors in variety of industries which make them a preferred choice over motor soft starters. In addition, the benefit of cost competitiveness of the VFDs over motor soft starters in the low voltage segment is a factor that restrains the growth of the motor soft starter market.

Leading players in the motor soft starter market include ABB (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), Fairford Electronics Ltd. (U.K.), Rockwell Automation, Inc. (U.S.), and General Electric Company (U.S.). New product developments was the strategy most commonly adopted by top players in the market from 2013 to 2017. It was followed by mergers & acquisitions, expansions, and contracts & agreements.

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