HOME Research Insight Market Leader - Motor Soft Starter Market

Market Leader - Motor Soft Starter Market

The global motor soft starter market is projected to grow at a CAGR of 6.08% from 2017 to 2022. In 2016, Asia-Pacific was estimated to be the largest market for motor soft starters, followed by Europe and North America. This trend is expected to continue till 2022. The growth of the motor soft starter market is driven by increase in the demand for industrial pumps and rise in HVAC applications.

The motor soft starter market is dominated by both global and regional players. Key players operating in this market include ABB Ltd. (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.).

Major strategies adopted by players in the motor soft starter market include new product developments, expansions, contracts & agreements, and mergers & acquisitions. New product developments was the most commonly adopted strategy from 2013 to 2017. Industry players also adopted mergers & acquisitions, which was the second most widely followed strategy from 2013 to 2017.

ABB Ltd. is a technological leader in electrical products. The company caters to a wide range of industries such as transmission, distribution, power generation, mining industry, marine, and oil & gas, among others. It conducts its business through four segments, namely, power grids, industrial automation, robotics & motion, and electrification products. Motor soft starter is a part of the electrification products segment. ABB Ltd. adopted new product launch and expansions as one of its key growth strategies. In 2015, it launched PSTX soft starters with pump cleaning to meet the specific demand of the water and wastewater industry. In 2014, ABB invested USD 25 Million for expanding its power distribution equipment portfolio in the North American market which include low-voltage switchgears, motor control centers, soft starters, SafeT panel board, and busway, among others.

Eaton is a diversified power management company that is driven by five business groups, namely, electrical products, electrical systems & services, hydraulics, aerospace, and vehicle segments. The company provides motor soft starters under its automation and control segment of its electrical products and electrical systems & services division. The company has adopted new product launch and expansions as one of its key growth strategies to maintain its market position. In 2016, Eaton Corporation, PLC has launched two reduced voltage soft starters with communication modules providing advanced monitoring and protection capabilities. In February 2014, Eaton invested USD 54.0 million for the expansion of its manufacturing operations at three plants in the Milwaukee area, Wisconsin. It included renovation of two facilities and expansion of one, in order to meet the growing demand for power distribution products and solutions in the utility, industrial, and commercial sectors.

Related 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

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