Motor Soft Starter Market by Voltage Range (2.3 KV to 13.8 KV, Above 13.8 KV, Below 2.3 KV), Rated Power (Above 100 kW, Upto 100 KW), Application, Vertical - Global Forecast 2024-2030

Motor Soft Starter Market by Voltage Range (2.3 KV to 13.8 KV, Above 13.8 KV, Below 2.3 KV), Rated Power (Above 100 kW, Upto 100 KW), Application, Vertical - Global Forecast 2024-2030

The Motor Soft Starter Market size was estimated at USD 2.35 billion in 2023 and expected to reach USD 2.49 billion in 2024, at a CAGR 6.42% to reach USD 3.64 billion by 2030.

A motor soft starter is an electronic device that gradually increases the voltage of an electric motor, allowing it to start smoothly and reduce mechanical and electrical stress during the startup phase. A soft starter avoids the abrupt impact of direct-on-line starting by controlling the acceleration of the motor, which can result in high currents and torque. Rising demand for industrial pumps with increasing refineries worldwide and growing investments in water and wastewater treatment projects attributed to motor soft starter market growth. The increasing trend toward industrial automation supports enhancements in smart connectivity features, fueling market growth. The high cost of designing and manufacturing motor soft starters and compatibility issues with the motor soft starter need ongoing support and maintenance, which is restricting the market growth. Furthermore, growing advancements in motor soft starters allow for smart and predictive maintenance of soft starters, and the rising integration of motor soft starters in renewable energy systems is creating growth opportunities in the market.

Regional Insights

The motor soft starter market in the Americas is experiencing growth due to the significant adoption of advanced motor control technologies across various industries, including manufacturing, HVAC, and water & wastewater treatment. The United States is a major country in the region's motor soft starter market, propelled by stringent energy consumption regulations and increased emphasis on industrial automation. Energy efficiency initiatives, such as the NEMA Premium Efficiency Motors program also contribute to the growth of the soft starter market in the region. The Asia-Pacific region is experiencing a high-growth motor soft starter market, primarily driven by rapid industrialization and infrastructure development, especially in China, India, and Southeast Asia. The region benefits from local manufacturers offering cost-effective soft starters, which are becoming increasingly popular due to the rising energy costs and focus on energy conservation in these nations. In the EMEA region, Europe stands out as a mature market for motor soft starters due to established industries and high awareness about energy efficiency. The European market is supported by stringent EU regulations emphasizing energy-efficient machinery and industrial solutions. The Middle East shows potential for growth in line with the region's efforts to diversify economies and develop their manufacturing sectors.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Motor Soft Starter Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rising demand for pump systems with increasing refineries worldwide
    • Growing investments in water & wastewater treatment projects
    • Increasing trend toward industrial automation
    • Market Restraints
      • High cost of manufacturing and designing of motor soft starter
      • Market Opportunities
        • Growing advancements in motor soft starters
        • Rising integration of motor soft starters in renewable energy systems
        • Market Challenges
          • Compatibility issues with the motor soft starter
          • Market Segmentation Analysis
            • Voltage Range: Significant preference for motor soft starters within the 2.3 KV to 13.8 KV voltage range for robust performance and durability across industries
            • Rated Power: Significant adoption of soft starters designated for motors above 100 kW
            • Application: Rising application of motor soft starters in compressors and pumps to benefit from the reduction in pressure surges
            • Vertical: Increasing usage of explosion-proof and corrosion-resistant in the In the oil and gas sector
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Motor Soft Starter Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Motor Soft Starter Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Shakti Pumps India Receives 5th Patent
              
              Shakti Pumps (India) Limited, a pumps and motors manufacturer, was granted a patent by the Indian Patent Office for their innovation 'Ada conversion based contractor less soft starter.' This proprietary technology, meticulously in line with the 1970 Patents Act, fortifies Shakti Pumps' intellectual property portfolio, marking it as their 5th patent aimed at enhancing better product commercialization.
              
              Digistart D4-D5, The New Generation of Electronic Controllers for Fixed Speed Applications
              
              Nidec upgraded its Leroy-Somer Digistart soft starter portfolio with the introduction of the D4 and D5 series, presenting enhancements tailored for static-speed apparatus. These innovations highlight the amalgamation of advanced control technologies and onboard intelligence, streamlining both machine precision on start/stop and performance while concurrently driving down energy expenditure.
              
              Siemens Presents EUR 2 Billion Investment Strategy to Boost Future Growth, Innovation and Resilience
              
              In a move to fuel growth, spur innovation, and enhance resilience within the digitalization, automation, and sustainability sectors, Siemens AG has unveiled a comprehensive EUR 2 billion investment plan. This strategic infusion aims to bolster manufacturing capacities, establish modern innovation labs, and develop educational institutions across various locations. Notably, Siemens is responding to the Southeast Asian market surge with a new state-of-the-art factory in Singapore, complemented by an expansion of its digital factory in Chengdu to cater to the Chinese market's rising demand. These initiatives are poised to generate employment and integrate cutting-edge technologies such as digital twins and smart manufacturing solutions.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Motor Soft Starter Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Motor Soft Starter Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Amtech Electronics India Limited, Benshaw Inc., Carlo Gavazzi Holding AG, CG Power And Industrial Solutions Limited, CHINT Group Co., Ltd., Crompton Greaves Consumer Electricals Limited, Danfoss A/S, Eaton Corporation PLC, Eltech Engineering, Emerson Electric Co., Hitachi, Ltd., ICM Controls, JT Engineering Solutions, Larsen & Toubro Limited, Lecon Energetics Pvt. Ltd., Libratherm Instruments Pvt. Ltd., Littelfuse, Inc., LOVATO Electric S.p.A., LS ELECTRIC CO., LTD., Mitsubishi Electric Corporation, Motortronics, Nidec Corporation, NOLTA GmbH, Param Controls, Rockwell Automation, Inc., Schneider Electric SE, Shakti Pumps (India) Limited, Shenzhen Gozuk Co., Limited, Shenzhen Inomax Technology Co.Ltd, Shenzhen Powtech Co., Ltd., Shenzhen Sinovo Electric Technologies Co., Ltd., Siemens AG, Solcon-IGEL Group, Sprecher + Schuh, TECO Electric & Machinery Co., Ltd., Toshiba Corporation, WEG S.A., Xcellent Enterprise, and Xi'an Xichi Electric Co., Ltd..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Motor Soft Starter Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Voltage Range
              • 2.3 KV to 13.8 KV
              • Above 13.8 KV
              • Below 2.3 KV
              • Rated Power
                • Above 100 kW
                • Upto 100 KW
                • Application
                  • Compressor
                  • Conveyor Belt
                  • Fan
                  • Pump
                  • Vertical
                    • Mining
                    • Oil & Gas
                    • Power Generation
                    • Water & Wastewater
                    • Region
                      • Americas
                        • Argentina
                        • Brazil
                        • Canada
                        • Mexico
                        • United States
                          • California
                          • Florida
                          • Illinois
                          • New York
                          • Ohio
                          • Pennsylvania
                          • Texas
                          • Asia-Pacific
                            • Australia
                            • China
                            • India
                            • Indonesia
                            • Japan
                            • Malaysia
                            • Philippines
                            • Singapore
                            • South Korea
                            • Taiwan
                            • Thailand
                            • Vietnam
                            • Europe, Middle East & Africa
                              • Denmark
                              • Egypt
                              • Finland
                              • France
                              • Germany
                              • Israel
                              • Italy
                              • Netherlands
                              • Nigeria
                              • Norway
                              • Poland
                              • Qatar
                              • Russia
                              • Saudi Arabia
                              • South Africa
                              • Spain
                              • Sweden
                              • Switzerland
                              • Turkey
                              • United Arab Emirates
                              • United Kingdom
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year