Motor Soft Starter Market

ABB (Switzerland) and Siemens (Germany) are the Leading Players in the Motor Soft Starter Market

The global motor soft starter market is expected to grow from an estimated size of USD 1.7 billion in 2019 to USD 2.3 billion by 2024, at a CAGR of 6.0% during the forecast period. The growth of this market is driven by the increasing demand for industrial pumps, increased investments in oil & gas, water & wastewater projects globally, and booming global power sector.

Both global and regional players dominate the global motor soft starter market. The leading players in the motor soft starter market are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), Rockwell Automation (US), WEG (Brazil), Toshiba (Japan), and Crompton Greaves (Japan).

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The major strategies adopted by the players include contracts & agreements, investments & expansions, mergers & acquisitions, and new product launches. New product launches were the most commonly adopted strategy from January 2017 to July 2019.

ABB (Switzerland) is a technology leader in electrification products, power grids, industrial automation, and robotics for industries such as utilities, transport, and infrastructure. The company operates its business through three segments, namely, electrification products, robotics & motion, and industrial automation divisions. It provides motor soft starters for low as well as medium voltage applications under its electrification products business segment. The Electrification segment accounted for about 40% of the company’s revenue in 2018. Under this segment, the company also offers services, products, and connected solutions across the electricity value chain from substations to the point of consumption globally. Some of the products offered by the company under electrification segment along with soft starters are circuit breakers, switchgear, sensing devices, solar power solutions, and EV charging infrastructure. The recent acquisition of General Electric’s electrification solution business is expected to contribute to the growth and competitiveness of the products in the electrification segment of the company that includes a motor soft starter. ABB is focusing on both organic and inorganic growth strategy to capture greater market share for motor soft starter. For instance, in 2017, it invested USD 25 million to expand its power distribution equipment product line in the North American market. Also, in July 2017, ABB acquired Bernecker Rainer Industrie-Elektronik, which is expected to strengthen its product portfolio further.

Siemens (Germany) is a technology company with its business in the fields of electrification, digitalization, and automation. The company operates through 8 business segments, namely, power and gas, Siemens Healthineers, energy management, digital factory, Siemens Gamesa renewable energy, mobility, process industries and drives, and building technologies. Siemens offers motor soft starters under its process industries and drives segment, which accounted for about 10% share of the total revenue in 2018. Under process industries and drive segment, the company also offers several other products along with motor soft starters such as motors and converters, couplings, instrumentation systems, and process analytics devices. As a part of its organic growth strategy, Siemens has introduced Sirius 3RW5 soft starters to South African market thereby expanding geographic coverage.

Related Reports:

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

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Report Code
EP 3729
RI Published ON
10/9/2019
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