Soft Starter Market by End-user, Application, and Geography - Forecast and Analysis 2020-2024

The soft starter market size has the potential to grow by USD 359.90 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by end-user (oil and gas, mining, power, automotive, and others), application (pumps, fans and blowers, compressors, and others), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including ABB Ltd., CG Power and Industrial Solutions Ltd., Danfoss AS, Eaton Corporation Plc, Emerson Electric Co., General Electric Co., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Toshiba International Corp.

Market Overview

Browse TOC and LoE with selected illustrations and example pages of Soft Starter Market

Request a FREE sample now!

Market Competitive Analysis

The soft starter market is fragmented with numerous players competing to capture the highest market share. The presence of numerous manufacturers of soft starters that offer a variety of products to end-users in terms of price and geographical expansion has intensified market competition. ABB Ltd., CG Power and Industrial Solutions Ltd., and Danfoss AS are some of the major market participants. Although the high demand for energy-efficient products will offer immense growth opportunities, the popularity of variable frequency drives will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this soft starter market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this soft starter market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• ABB Ltd.
• CG Power and Industrial Solutions Ltd.
• Danfoss AS
• Eaton Corporation Plc
• Emerson Electric Co.
• General Electric Co.
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• Toshiba International Corp.

Soft Starter Market: Segmentation by Geography

For more insights on the market share of various regions Request for a FREE sample now!

APAC was the largest soft starter market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing need for automation in the industrial processes, rising urbanization, and need to simplify complex industrial processes will significantly drive soft starter market growth in this region over the forecast period.

49% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for soft starters in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Soft Starter Market: Segmentation by End-user

Request for a FREE sample and Get more information on the market contribution of various segments

Due to stringent government regulations and the need to protect the pumps and fans, soft starters have become an integral part of the oil and gas industry. The increased investments and the rising number of pipelines in regions such as APAC, Middle East, and Africa are expected to increase the installation of soft starters in the oil and gas industries. There is an increased demand for intellectual soft starters as they have an in-built communication protocol that facilitate the sending of notifications before any kind of machine failure, reducing the downtime and increasing the overall efficiency of the production process. 

However, the market growth in the oil and gas segment will be slower than the growth of the market in the power and automotive segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the soft starter market size.

Soft Starter Market: Key Drivers and Trends

Market research analysis on the global soft starter market identifies the increase in demand for energy-efficient products, which will regulate energy consumption by regulating the voltage of the motors, as one of the primary growth factors for this market. Soft starters provide the required voltage to the motors, which will enable smooth functioning and will also reduce the amount of energy consumed by the motors. The increasing need to reduce energy consumption that will help manufacturers reduce expenses and manufacture low-cost products will drive the demand for soft starters especially in medium and low voltage motors. According to our industry research analysts, this market will grow at a CAGR of over 4% during the forecast period.

Continuous technological advancement will lead to the demand for smart starters from the end-user. The intelligent soft starter is a software that not only provides the required torque but also provides proper breaking to the motors, which can reduce the harmonic effects. The installation of the software can also work independently without any support from the supervisors. The emergence of smart factories and the usage of advanced equipment and devices to improve the process in industries will increase the demand for soft starters.

Request for a FREE sample

Soft Starter Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive soft starter market growth during the next five years
• Precise estimation of the soft starter market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the soft starter industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of soft starter market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch