Global Soft Starter Market, By Type (Low Voltage Soft Starter, Medium to High Voltage Soft Starter), Application (Pumps, Fans and Blowers, Compressors), End-User Industry (Mining and Metal, Food and Beverage, Energy and Power, Oil and Gas, Other End-user Industries), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel and Rest of Middle East and Africa) - Industry Trends and Forecast to 2029
Market Analysis and Insights of Soft Starter Market
Growth and expansion of semiconductors industry especially in the emerging ones, growing usage of soft starter by the small and medium scale enterprises in the developing economies, surging awareness about the benefits of soft starter, upgrading and revitalization of infrastructure, growth in automation sector, rising number of oil and gas exploration activities, rising up gradation of existing infrastructure with advanced systems and increasing infrastructural development activities especially in the developing economies are the major factors attributable to the growth of soft starter market. Data Bridge Market Research analyses that the soft starter market will exhibit a CAGR of 6.78% for the forecast period of 2022-2029. Therefore, the soft starter would rocket up to USD 1.66 billion by 2029.
Soft starter is a device that used to temporarily reduce the load and torque by controlling the amount of voltage running through the motors circuits. Soft starters are effective in dealing with the problems that might arise at the time of acceleration and deceleration of current applications.
Rising demand from the buildings and construction industry and growth in the demand for industrial pumps will emerge as the major soft starter market growth driving factors. Surging development of advanced technologies, introduction and adoption of high efficiency motors, increasing demand for heating, ventilation and air conditioning (HVAC) systems, and widespread industrialization will further aggravate the soft starter market value. Growing expenditure to undertake research and development proficiencies, surging focus towards the conservation of energy and rising automation and reliability concerns will further carve the way for the growth of the soft starter market.
However, high costs associated with the research and development proficiencies and unstable buildings and construction market will act as growth restraints for the soft starter market. Also, stringent regulatory framework in the developing economies and fluctuations in the prices of raw materials will further dampen the growth rate of the soft starter market. Large scale technological and infrastructural limitations, limited accuracy and control of motor soft starters and skilled professionals in the underdeveloped regions and backward economies will further challenge the soft starter market growth rate.
This soft starter market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on soft starter market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Soft Starter Market Scope and Market Size
The soft starter market is segmented on the basis of type, application and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- Soft starter market on the basis of type has been segmented as low voltage soft starter, and medium to high voltage soft starter.
- On the basis of application, the soft starter market has been segmented into pumps, fans and blowers, and compressors.
- Soft starter has also been segmented on the basis of end user industry into mining and metal, food and beverage, energy and power, oil and gas, and other end-user industries.
Soft Starter Market Country Level Analysis
The soft starter market is analysed and market size, volume information is provided by country, type, application and end user industry as referenced above.
The countries covered in the soft starter market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the global soft starter market owing to the growth in the demand by various industries such as steel and power, cement and other industries, growing infrastructure and construction activities, growing construction of residential and commercial buildings, increasing research and development investments towards technology and product development, surging adoption of advanced technologies by small and medium scale enterprises, increasing awareness for better infrastructure, government regulations towards conserving the environment and growing number of manufacturing industries.
The country section of the soft starter market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Soft Starter Market Share Analysis
The soft starter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to soft starter market.
Some of the major players operating in the soft starter market are ABB, Eaton, Siemens, Schneider Electric, Rockwell Automation, Inc., Emerson Electric Co., CG Power and Industrial Solutions, Danfoss, LARSEN & TOUBRO LIMITED, WEG, Toshiba International Corporation Pty Ltd., Phasetronics Inc. dbaMotortronics, SOLCON., CARLO GAVAZZI UK LTD, Nolta India Pvt. Ltd., Minilec India Private Limited, Benshaw Inc., and Carlo Gavazzi Holding AG among others.
SKU-