A fresh report titled on “Motor Soft Starter Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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The Global Motor Soft Starter Market is projected to reach USD 2.3 Billion by 2024 from an estimated market size of US$ 1.7 Billion in 2019, at a CAGR of 6.0% during the forecast period. This report spread across 176 pages, profiling 20 companies and supported with 111 tables and 48 figures is now available in this research.
Topmost Outstanding Market Players:
- ABB Ltd. (Switzerland)
- Schneider Electric SE (France)
- Siemens AG (Germany)
- Eaton Corporation PLC (Ireland)
- Rockwell Automation Inc. (US)
- WEG (Brazil)
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“The low voltage segment is expected to dominate the motor soft starters market in 2019”
The low voltage segment dominated the motor soft starters market in 2018 owing to the extensive adoption of low voltage motors in various industries across the globe. Low voltage motor soft starters are installed mainly in the oil & gas, water & wastewater, power generation, pulp &paper, food & beverage, automobile, oil & gas, and cement industries. They are mostly used in industries to control the initial voltage, to protect the motor against heavy inrush currents at the time of motor start .
“The motor soft starters for pump application segment is expected to grow at the highest CAGR from 2019 to 2024“
The motor soft starter market for pump applications is estimated to be the fastest-growing motor soft starters market, by application, from 2019 to 2024. This growth is attributed to the increasing levels of water &wastewater investments in regions such as Asia Pacific and the Middle East & Africa. This, combined with the increase in oil & gas investments in response to rising in demand for oil, is expected to drive the growth of the market for motor soft starters for pump applications.
Breakdown of primary participants’ profile:
- By Company Type: Tier I: 60%, Tier II: 20%, and Tier III: 20%
- By Designation: C-Level: 55%, Director Level: 30%, and Others: 15%
- By Region: Asia Pacific: 30%, North America:25%, Europe:20%, South America:15%, and the Middle East & Africa: 10%
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders
- To define, describe, and forecast the global motor soft starter market based on voltage, rated power, application, industry, and region
- To provide detailed information regarding the major factors influencing the growth of the 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 benchmark players within the market using the proprietary Vendor DIVE framework, which analyzes the market players on various parameters within the broad categories of business and product strategies
- To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market
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