The report "Motor Soft Starter Market by Voltage (Low and Medium), Rated Power (Up to 750 W, 751 W–75 kW, Above 75 kW), Application (Pumps, Fans, Compressors), Industry (Oil & Gas, Water and Wastewater, Power Generation, Mining), and Region - Global Forecast to 2024" The global motor soft starter market is expected to grow from an estimated value of USD 1.7 billion in 2019 to USD 2.3 billion by 2024, at a CAGR of 6.0%, from 2019 to 2024. The global market is set to witness significant growth owing to the growing demand for industrial pumps and increased investments in oil & gas, water & wastewater projects and regulations mandating the use of energy-efficient motors across major industries.
Browse 111 market data Tables and 48 Figures spread through 176 Pages and in-depth TOC on "Motor Soft Starter Market by Voltage (Low and Medium), Rated Power (Up to 750 W, 751 W–75 kW, Above 75 kW), Application (Pumps, Fans, Compressors), Industry (Oil & Gas, Water and Wastewater, Power Generation, Mining), and Region - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/motor-soft-starter-market-117691183.html
The low voltage segment is expected to hold the largest share of the motor soft starter market, by voltage, during the forecast period
The low voltage segment includes up to 690 V motor soft starters. This segment is expected to hold the major share in 2019 owing to the widespread adoption of low voltage motors in various process industries globally. Low voltage motor soft starters are used mainly in the oil & gas, water & wastewater, power generation, chemical & petrochemical, cement & manufacturing, food & beverage, and metals & mining. Asia Pacific is the largest low voltage motor soft starters market because of rapid industrialization and urbanization in countries such as China and India. All these factors are expected to boost the low voltage motor soft starters market.
Pump applications the largest motor soft starter market, by component, during the forecast period
The pump applications held the largest share of the motor soft starters market in 2018. Pumps are used ubiquitously in all process industries such as oil & gas, water & wastewater, power generation, and manufacturing. Soft starters play an essential role in controlling the voltage supplied to the motor at the start to protect the motor against heavy inrush currents. With the rising investments in oil& gas, desalination projects, especially in Asia Pacific, Middle East, and Africa, the motor soft starter market for pump application is expected to grow during the forecast period.
The oil & gas industry segment is expected to be the fastest-growing industry for motor soft starter market
The motor soft starter market is segmented into oil & gas, water & wastewater, power generation, mining, and others. The oil & gas industry segment is expected to be the fastest-growing motor soft starter market from 2019 to 2024. The increase in up upstream spending in response to rising oil prices is expected to drive the growth of motor soft starter market in the oil & gas industry. These increased investments in oil & gas projects are expected to drive the growth of motor soft starter market globally.
Asia Pacific is expected to dominate the global motor soft starter market
Asia Pacific is expected to dominate the global motor soft starter market owing to increased investments in construction, power generation, and industrialization projects. China is expected to dominate the Asia Pacific motor soft starter market. The motor soft starter market in countries such as China, India, and Japan are expected to grow at high rates. Increasing power generation capacity additions and electricity demand in these countries are the main reasons spurring the growth of the motor soft starter market.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the motor soft starter market. These include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), and Rockwell Automation, Inc. (US). The leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their respective market share.
Don’t miss out on business opportunities in Motor Soft Starter Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441