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Technavio’s market research analysts predict that the global motor starters market will grow steadily at a CAGR of almost 5% by 2020. This industry research report identifies the need to reduce power consumption and increase motor efficiency to be one of the major factors having a positive impact on the growth of the electric motor starter market in the coming years. With the rising energy costs becoming one of the major concerns for countries across the world, reducing power consumption is one of the key strategies followed by businesses across the world to increase their profit margins. It has been observed that electric motors account for the major shares for energy consumption in industries. This, in turn, will lead to an augmented demand for increasing the efficiency of these motors by controlling the speed using industrial motor starters.
The use of motor control centers that consist of an assembly of motor starters that are connected through multi-core cables protects motors from overload and voltage imbalances and helps operators to predict the status of the motors, thus, preventing damage. Also, the need to reduce maintenance costs and machine downtime that induced industries to automate their business processes will also result in the adoption of motor control centers or MCC in the coming years. Much of this demand can be attributed to its ability to ensure higher safety standards by allowing the operator to monitor several motors from a centralized location.
This global market is characterized by the presence of a small number of motor starters manufacturers who occupy a large market share and is dominated by key vendors such as ABB, Rockwell Automation, Siemens, and Danfoss. The market is highly capital-intensive, which makes it difficult for new market players to enter the industry. Well-established players are currently facing a major threat due to the introduction of counterfeit products, especially from countries in APAC. To enhance their customer base and increase revenues, motor starter manufacturers such as GE have started conducting awareness programs to educate consumers as well as retailers about counterfeit motor starters.
The leading vendors in the market are -
The other prominent vendors in the market are Allied Motion Technologies, ARC Systems, Emerson Electric, Franklin Electric, Fuji Electric, Huali, IMO precision Controls, Schneider Electric, TECO-Westinghouse, Toshiba, WEG, and Yaskawa.
During 2015, the oil and gas industry accounted for the major market share and dominated the motor starters market. Factors such as increased investments from the major oil and gas companies and the growth of the industrial sector in the developing economies such as China, India, Malaysia, Indonesia, and Brazil that results in the demand for crude oil and natural gas will drive the growth of the electrical motor starters market in this end-user segment.
This market study estimates that in terms of geographical regions, EMEA will be the major revenue contributor to the market throughout the forecast period. The availability of vast reserves of metals and minerals in the region and the implementation of new regulations by the Middle Eastern countries will attract more enterprises to invest in the mining industry, thus, driving market growth. Moreover, the increased focus of governments in this region towards the construction of smart grids and the development of smart grid technologies will also propel the growth of the market in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: Explore Technavio
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