Motor Soft Starter Market and Revenue Analysis Insights by Latest Trends, Top Key Players, Future Growth, Revenue and Demand Forecast 2022

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The motor soft starter market is projected to reach USD 1.84 billion by 2022, at a CAGR of 6.08% from 2017 to 2022. The growing demand for industrial pumps and HVAC systems have boosted the demand for motor soft starters. In addition, the growth of water & wastewater industry in regions, such as Asia-Pacific and the Middle East & Africa, would further aid the growth of this market. The functional superiority and cost competitiveness of VFDs would act as a restraint for the growth of the motor soft starter market.

“The pumps segment is expected to grow at the highest CAGR from 2017 to 2022”
Based on the type of application, the pump segment is estimated to be the largest and fastest growing market from 2017 to 2022. Pumps find their applications in industries such as oil & gas, chemicals & petrochemicals, cement, and paper & pulp. Pumps are critical for various industrial applications and majority of applications does not require a speed control. The rising application of pumps in these industries and the demand for motor soft start & stop applications would drive the motor soft starter market during the forecast period.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Motor Soft Starter Market and Revenue Analysis Insights by Latest Trends, Top Key Players, Future Growth, Revenue and Demand Forecast 2022

“The up to 100 kW segment is expected to dominate the motor soft starter market from 2017 to 2022”
The up to 100 kW motor soft starter is the largest market in the rated power segment. Motor soft starters are extensively used by industries for protecting the equipment from sudden inrush voltage while starting. Moreover, this segment is expected to exhibit the highest CAGR from 2017 to 2022. The up to 100 kW motor soft starter segment finds major applications in industries such as water & wastewater, which is poised to grow significantly during the forecast period. This is likely to drive the up to 100 kW motor soft starter market.

“Asia-Pacific: The largest market for motor soft starters”
Asia-Pacific is currently the largest market for motor soft starters, followed by Europe and North America. The Asia-Pacific market is driven by power generation capacity addition and rapid industrialization projects in this region. The market in the Asia-Pacific region is projected to grow at the fastest rate, with China expected to dominate the market. Countries, such as Japan, Malaysia, Australia, and South Korea are driving the market in the Asia-Pacific region. Moreover, the low manufacturing cost of soft starters coupled with the increased use of AC induction motors are driving the growth of the motor soft starter market in China.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1—50%, Tier 2—33%, Tier 3—17%
By Designation: C-Level—17%, D-Level—33%, Others—50%
By Region: Asia-Pacific—50%, North America—17%, Europe—17%, Rest of the World—16%

Research Coverage:
The report defines, describes, and forecasts the global motor soft starter market by voltage, rated power, application, industry, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.

Why buy this report?
1. The report identifies and addresses key markets for motor soft starter market, which would help suppliers review the growth in the demand for the product.
2. The report helps solution providers understand the pulse of the market, and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better, and will help in making strategic decisions.

TABLE OF CONTENTS

1 INTRODUCTION 15
1.1 OBJECTIVES OF THE STUDY 15
1.2 MARKET DEFINITION 15
1.3 MARKET SCOPE 16
1.3.1 MARKETS COVERED 16
1.3.2 REGIONAL SCOPE 17
1.3.3 YEARS CONSIDERED FOR THE STUDY 17
1.4 CURRENCY 18
1.5 LIMITATIONS 18
1.6 STAKEHOLDERS 18

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