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Worldwide Motor Soft Starter Markets to 2024 - Increased Demand for Industrial Pumps & Adoption of High-Efficiency Motors Drives Opportunity

/EIN News/ -- Dublin, Dec. 12, 2019 (GLOBE NEWSWIRE) -- The "Motor Soft Starter Market by Voltage (Low and Medium), Rated Power (Up to 750 W, 751 W-75 kW, Above 75 kW), Application (Pumps, Fans, Compressors), Industry (Oil & Gas, Water and Wastewater, Power Generation, Mining), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global motor soft starter market is projected to reach USD 2.3 billion by 2024 from an estimated market size of USD 1.7 billion in 2019, at a CAGR of 6% during the forecast period.

The growing demand for industrial pumps, increased use of electric motors in key industries, and increased demand for HVAC has boosted the demand for motor soft starters. Moreover, the investments in the non-oil sector of the Middle East and increased automation globally would further aid the growth of this market. The functional superiority and competitive pricing of variable frequency drives (VFDs) is a restraint for the growth of the motor soft starters market.

The leading players in the motor soft starters market are ABB Ltd. (Switzerland), Schneider Electric SE (France), Siemens AG (Germany), Eaton Corporation, PLC (Ireland), Rockwell Automation, Inc. (US), and WEG (Brazil).

The low voltage segment is expected to dominate the motor soft starters market in 2019

The low voltage segment dominated the motor soft starters market in 2018 owing to the extensive adoption of low voltage motors in various industries across the globe. Low voltage motor soft starters are installed mainly in the oil & gas, water & wastewater, power generation, pulp & paper, food & beverage, automobile, oil & gas, and cement industries. They are mostly used in industries to control the initial voltage, to protect the motor against heavy inrush currents at the time of motor start. Therefore, they are in high demand, considering the increasing industrialization and rise in greenfield investments.

The motor soft starters for pump application segment is expected to grow at the highest CAGR from 2019 to 2024

The motor soft starter market for pump applications is estimated to be the fastest-growing motor soft starters market, by application, from 2019 to 2024. This growth is attributed to the increasing levels of water &wastewater investments in regions such as Asia Pacific and the Middle East & Africa.

This, combined with the increase in oil & gas investments in response to rising in demand for oil, is expected to drive the growth of the market for motor soft starters for pump applications. Oil & gas, water & wastewater are two biggest end user industries for industrial pumps and any increase in investments in these industries is expected to drive the market growth of motor soft starters for pump applications.

Asia Pacific is expected to lead the global motor soft starters market in terms of market size and growth rate

Asia Pacific is currently the largest motor soft starters market, followed by Europe and. Owing to increased investments in construction, power generation, and industrialization projects. The Asia Pacific motor soft starter market is also driven by an increase in electricity demand and power generation capacity additions in the region. It is projected to grow at the fastest rate, with China dominating the regional market. Apart from the Chinese and Indian markets, the motor soft starters market in Japan is also growing at a healthy rate.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Motor Soft Starter Market During the Forecast Period
4.2 Motor Soft Starter, By Voltage
4.3 Motor Soft Starter, By Rated Power
4.4 Motor Soft Starter, By Application
4.5 Motor Soft Starter, By Industry
4.6 Motor Soft Starter, By Region

5 Market Overview
5.1 Introduction
5.1.1 Yc Shift Analysis:
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Demand for Industrial Pumps
5.2.1.2 Rising Demand for Heating, Ventilation, and Air Conditioning (HVAC) Applications
5.2.1.3 Adoption of High-Efficiency Motors
5.2.2 Restraints
5.2.2.1 Functional Superiority and Competitive Pricing of Variable Frequency Drives (VFDS)
5.2.3 Opportunities
5.2.3.1 Investments in Non-Oil Sectors of the Middle East
5.2.3.2 Increased Automation and Reliability Concerns
5.2.4 Challenges
5.2.4.1 Decline in Investments in Conventional Power Generation Plants

6 Motor Soft Starter Market, By Voltage
6.1 Introduction
6.2 Low Voltage
6.2.1 Increased Installations of Low Voltage Motors for Industrial Usage are Driving Demand for Low Voltage Motor Soft Starters
6.3 Medium Voltage
6.3.1 Investments in Large Water Treatment Plants and Oil & Gas Globally are Expected to Increase Demand for Medium Voltage Motor Soft Starters

7 Motor Soft Starter Market, By Rated Power
7.1 Introduction
7.2 Up to 750 W
7.2.1 Asia Pacific is Expected to Lead the Up to 750 W Motor Soft Starter
7.3 751 W-75 kW
7.3.1 Significant Global Investments in Oil & Gas and Desalination Projects are Expected to Increase Demand for 751 W-75 kW Motor Soft Starters
7.4 Above 75 kW
7.4.1 Above 75 kW Motor Soft Starter Segment is Expected to Gain Impetus Owing to Rising Global Mining Investments

8 Motor Soft Starter Market, By Application
8.1 Introduction
8.2 Pump
8.2.1 Rising Demand for Oil and Increased Investments in Water & Wastewater Sector are Expected to Drive Motor Soft Starter for Pump Applications
8.3 Fan
8.3.1 Investments in Power Generation Globally are Expected to Increase Demand for Motor Soft Starters for Fan Applications
8.4 Compressor
8.4.1 Investments in Oil & Gas and Industrial Sector Globally are Anticipated to Increase Demand for Motor Soft Starters for Compressor Applications
8.5 Others
8.5.1 Investments in Mining and Industrial Sector Globally are Expected to Increase Demand for Motor Soft Starters for Other Applications

9 Motor Soft Starter Market, By Industry
9.1 Introduction
9.2 Oil & Gas
9.2.1 Increased Oil & Gas Investments in North America are Expected to Drive Market in Oil & Gas Industry
9.3 Water & Wastewater
9.3.1 Investments in Water & Wastewater Projects and Desalination Projects Globally are Expected to Increase Demand for Motor Soft Starters in Water & Wastewater Industry
9.4 Power Generation
9.4.1 Demand for Motor Soft Starters in Power Generation is Expected to Increase With Rise in Energy Sector Investments
9.5 Mining
9.5.1 Increase in Capital Expenditure of Major Mining Companies is Expected to Drive the Market
9.6 Others
9.6.1 Investments in Food & Beverage and Chemical & Petrochemical Globally are Expected to Drive Demand for Motor Soft Starters in Others Industry

10 Motor Soft Starter Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.3 Europe
10.4 North America
10.5 Middle East & Africa
10.6 South America

11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping (Overall Market)
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic Differentiators
11.2.4 Emerging
11.3 Market Share, 2018
11.4 Competitive Scenario
11.4.1 Contracts & Agreements
11.4.2 New Product Launches
11.4.3 Mergers & Acquisitions
11.4.4 Investments & Expansions
11.4.5 Others

12 Company Profiles
12.1 ABB
12.2 Eaton
12.3 Siemens
12.4 Schneider Electric
12.5 RockWell Automation
12.6 Emerson Electric
12.7 Crompton Greaves
12.8 Danfoss
12.9 Larsen & Toubro
12.1 WEG
12.11 Toshiba International Corporation Pty
12.12 Motortronics
12.13 Solcon
12.14 Carlo Gavazzi
12.15 Nolta
12.16 Gozuk
12.17 Lovato Electric
12.18 Minilec
12.19 Sinova
12.20 Benshaw

For more information about this report visit https://www.researchandmarkets.com/r/fmpzf3

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