Motor Soft Starter Market Report | 2022-2028

Market Insights

The motor soft starter market was estimated at USD 1.9 billion in 2021 and is likely to grow at a CAGR of 6.02% during 2022-2028 to reach USD 2.87 billion in 2028.

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Market Dynamics

Introduction

A motor soft starter is an electrical device that reduces the electrical inrush currents and mechanical stress that come with starting electric motors. To do this, it increases the motor's voltage gradually at startup, allowing for a controlled and seamless acceleration to full speed. Through this process, motor lifespan is increased, energy efficiency is improved, and wear on mechanical components is decreased. In applications like pumps, compressors, conveyors, and HVAC systems where lowering startup torque is crucial, soft starters are frequently utilized. For applications that do not require speed control, they offer a more affordable option to variable frequency drives (VFDs). For dependable and effective motor operation, soft starters with features like overload protection, fault diagnostics, and user-friendly interfaces are crucial.

Market Drivers

These factors are expected to boost the demand for the market in the coming year:

• The surge in demand for industrial pumps, and the growing employment of electric motors in major industries.
• Increasing investments in oil & gas, water & wastewater treatment projects.

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Key Players

The following are the key players in the motor soft starter market:

Segment Analysis

By Voltage Type

"Low voltage segment is expected to hold a larger share of the market during the forecast"

The market has been segmented as low voltage and medium voltage. The low voltage segment is expected to hold a larger share of the market during the forecast period due to the adoption of low-voltage motors by various process industries.

Further, industries such as metal & mining, oil & gas, chemical & petrochemical, water & wastewater, cement & manufacturing, power generation, and food & beverages are using low voltage motor soft starters, which is driving the growth of the segment.

By Rated Power Type

"The 751 W–75 kW segment is likely to dominate the market during the forecast period"

The market is segmented as 750 W, 751 W–75 kW, and Above 75 kW segments. The 751 W–75 kW segment is likely to dominate the market during the forecast period. The growth of the segment is attributed by the growth in oil & gas and desalination projects and also the increasing investments that are being made on the same.

By Application Type

"Pump segment is estimated to govern the market during the forecast period"

The market is segmented into pumps, fans, compressors, and others. The pump segment is estimated to govern the market during the forecast period as pumps are extensively used in process industries, such as oil & gas and power generation. The segment is playing an essential role in limiting the voltage supply to the motor.

By Industry Type

"Oil & gas segment is expected to lead the market during the forecast period"

The market is segmented as oil & gas, power generation, water & wastewater, mining and others. The oil & gas segment is expected to lead the market during the forecast period owing to a rise in upstream spending in response to the surge in prices of oil.

Regional Analysis

"Asia-Pacific is estimated to dominate the market during the forecast period"

Asia-Pacific is estimated to dominate the market during the forecast period due to rising investment in industrialization, construction, and power generation. Countries, such as China, India, and Japan are expected to register the fastest growth, driven by the increasing demand for electricity and power generation capacity. North America and Europe are also showing keen interest in the motor soft starter market and offer lucrative growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s motor soft starter realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The motor soft starter market is segmented into the following categories:

By Voltage Type

• Low 
• Medium 

By Rated Power Type

• Up to 750 W
• 751 W- 75 kW
• Above 75 kW

By Application Type

• Pump
• Fan
• Compressor
• Others

By Industry Type

• Oil & Gas
• Water & Wastewater
• Power Generation
• Mining
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the industry types by voltage type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.