Motor Soft Starter Market Size

  • Report ID: 5164
  • Published Date: Aug 16, 2023
  • Report Format: PDF, PPT

Motor Soft Starter Market Size

Motor Soft Starter Market size is estimated to reach USD 4 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of motor soft starter was USD 2 Billion. The growth of the market can be attributed to the growing investment in the oil & gas sector. With the rising investment the exploration, extraction, and refining increases this require soft starters in pumps and compressions. In 2022, the oil and gas upstream saw the highest investment since 2014, it was around USD 499 billion.

In addition to these, factors that are believed to fuel the market growth of motor soft starter include the rising electrification of industries. Electricity now accounts for nearly 20% of global industrial energy consumption. Industries are heavily relying on electric machinery to support operations and induce efficiency. Electrified industries demand programs with better and faster response, where they monitor the consumption of energy to match the grid condition. Soft started helps industries to overlook and control the sudden surge of energy demand.

Motor Soft Starter Market
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Author Credits:  Abhishek Verma

  • Report ID: 5164
  • Published Date: Aug 16, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for oil and gas, rising treatment of water, and automation of industries are the major factors driving the market growth.

The market size of motor soft starters is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2035.

The major players in the market are ABB Ltd, Eaton Corporation, Siemens, Schneider Electric, Rockwell Automation, Inc., Emerson Electric Co., CG Power and Industrial Solutions, LARSEN & TOUBRO LIMITED, WEG, and Carlo Gavazzi Holding AG

The low segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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