Motor Soft Starter Market Trends

Growth Drivers

Increasing Treatment of Water – Soft starter are highly crucial in water treatment facilities; they are utilized in starting and stopping the pumps. Therefore, the rising setup of water treatment facilities is propelling the market growth.
Rising Use of HVAC Systems-Air conditioners and electric fans account for about 20% of total electricity utilized in buildings worldwide today. Moreover, it is expected that by 2050, around two-thirds of the houses in the world will have an air conditioner. Soft starters are responsible for controlling the motor of chillers, that are used for cooling water or air in industrial and commercial settings.
Rising Demand for Industrial Pumps – Industrial pumps, especially centrifugal pumps, can draw high starting currents which can also damage the equipment. Therefore it requires motor soft starters to reduce stress during the current spike.

Challenges

Lack of Standardization –There is no specific feature or requirement that is fixed for the market and to be followed as standard procedure by manufacturers. This creates a lot of confusion in product compatibility and thus hampers the market growth
Resistance Towards the Transition to Technology
Rising Competition from Variable Frequency Drives (VFDs)

Motor Soft Starter Market: Key Insights

Base Year	2022
Forecast Year	2023-2035
CAGR	~7%
Base Year Market Size (2022)	~ USD 2 Billion
Forecast Year Market Size (2035)	~ USD 4 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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 â€“ 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.

Motor Soft Starter Market Trends