Soft starters are a type of motor starters that make use of the voltage reduction technique for reducing the voltage in the starting process of the motor. These devices provide a gradual increase of voltage during motor starting. Using soft starter can prevent all type of mechanical tear and jerking resulting from sudden supply of full voltage. Soft starters are used in several different industries, as it reduces starting torque and gradually grows the voltage. This offers safety to the device without affecting the efficiency.
Market Dynamics:
The rise in demand for HVAC equipment and growing adoption of industrial pumps is expected to drive growth of the global soft starter market during the forecast period. Moreover, increasing technological development is likely to provide market players with multiple opportunities in the market.
However, factors like availability of alternatives such as VFDs and high cost related to R&D proficiencies is anticipated to hamper growth of the global soft starter market during the forecast period.
Key features of the study:
- This report provides in-depth analysis of the global soft starter market, and provides market size (US$ 2,386.5 Million) and compound annual growth rate (CAGR 8.23%) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global soft starter market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Siemens AG, Aucom Electronics Ltd (Benshaw Inc.), Schneider Electric SE, IGEL Electric GmbH, Eaton Corporation PLC, Crompton Greaves Ltd., ABB Ltd., Toshiba Corporation, Rockwell Automation Inc., Fairford Electronics Inc. (Motortronics UK Ltd), and Danfoss Group
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global soft starter market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global soft starter market
Detailed Segmentation:
- Global Soft Starter Market, By End User Industry
- Mining and Metal
- Food and Beverage
- Energy and Power
- Oil and Gas
- Other End user Industries
- Global Soft Starter Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- Siemens AG
- Schneider Electric SE
- Eaton Corporation PLC
- ABB Ltd
- Rockwell Automation Inc.
- Danfoss Group
- Fairford Electronics Inc. (Motortronics UK Ltd)
- Toshiba Corporation
- Crompton Greaves Ltd
- IGEL Electric GmbH
- Aucom Electronics Ltd (Benshaw Inc.)
