Enclosed Motor Starter Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Enclosed Motor Starter Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, August 16, 2024 /EINPresswire.com/ -- The enclosed motor starter market has experienced robust growth in recent years, expanding from $1.66 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increased demand for electric vehicles, strict global regulations on energy consumption, growth in automation and use of electric motors in manufacturing processes, expansion of wind and solar power projects requiring efficient generators, increased use of electric motors.

Strong Future Growth Anticipated
The enclosed motor starter market is projected to continue its strong growth, reaching $2.22 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to continued growth in the EV market, development of new alloys and composites, growing emphasis on reducing carbon footprints, continued growth in renewable energy installations, urbanization in developing economies, and greater investments in research and development.

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Growth Driver Of The Enclosed Motor Starter Market
The rise in industrial automation is expected to propel the growth of the enclosed motor starter market going forward. Industrial automation refers to using digital logical programming and mechanized equipment to operate machines and minimize the need for human intervention in decision-making and manual commands. The rise in industrial automation is due to technological advancements, increased emphasis on safety and compliance, and rising demand for real-time data analysis. Enclosed motor starters aid industrial automation by providing reliable and protected control of motors, enhancing operational efficiency and safety.

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Major Players And Market Trends
Key players in the enclosed motor starter market include Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd, Eaton Corporation, Nidec Motor Corporation, Danfoss Inc.
Major companies operating in the enclosed motor starter market are developing innovative products, such as enclosed soft-start motor control systems, to serve customers with advanced features better. An enclosed soft start motor control system is a motor control device that combines the functions of a soft starter and a circuit breaker in a single, compact enclosure.

Segments:
1) By Type: Metal Shell, Plastic Shell
2) By Power Source: Alternate Current, Direct Current
3) By Application: Commercial, Industrial
4) By Sales Channel: Direct Sales, Distributors
5) By End User: Automotive Industry, Oil And Gas, Power Plants, Manufacturing Units

Geographical Insights: North America Leading The Market
North America was the largest region in the enclosed motor starter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enclosed motor starter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Enclosed Motor Starter Market Definition
An enclosed motor starter is a type of motor starter that is packaged in a single, self-contained unit. This unit typically includes various components that work together to safely start and stop a motor. Enclosed motor starters are designed to provide a complete motor control solution, often incorporating features such as short-circuit protection, ground fault protection, and overload protection.

Enclosed Motor Starter Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Enclosed Motor Starter Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on enclosed motor starter market size, enclosed motor starter market drivers and trends, enclosed motor starter market major players, enclosed motor starter competitors' revenues, enclosed motor starter market positioning, and enclosed motor starter market growth across geographies. The enclosed motor starter market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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