Global Soft Starter Market Report and Forecast 2024-2032

Global Soft Starter Market Size

The global soft starter market value reached approximately USD 2,045.12 million in 2023. The market is further projected to grow at a CAGR of 5.80% in the forecast period of 2024-2032, reaching a value of around USD 3,402.74 million by 2032.

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Global Soft Starter Market Growth

A soft starter is a device used with AC electric motors to aid start them with a low power supply during the start-up phase. Soft starters extend the life of electric motors by lowering the power supply at startup. Furthermore, soft starters lower the initial electrical requirement, resulting in energy conservation. The product's primary end use industries include oil and gas, mining, and others drives the demand of the soft starter market.

Global Soft Starter Market Analysis

Growth and expansion of semiconductors industry, especially in emerging ones, growing use of soft starters by small and medium-sized enterprises in developing economies, rising awareness about the benefits of soft starters, upgrading and revitalization of infrastructure, growth in automation sector, rising number of oil and gas exploration activities, rising upgradation of existing infrastructure with advanced systems, and increasing infrastructure development is ensuring the continued soft starter industry growth.

Rising demand from the building and construction industries, as well as increased need for industrial pumps, will emerge as important growth drivers for the soft starter market. The rapid development of new technologies, the introduction and adoption of high-efficiency motors, rising demand for heating, ventilation, and air conditioning (HVAC) systems, and extensive industrialisation will all exacerbate the soft starter market value. Increasing spending on research and development, a growing emphasis on energy saving, and expanding automation and reliability concerns further enables the growth of the soft starter market.

Global Soft Starter Industry Outlook

According to the Federal Chamber of Automotive Industries, electric vehicle sales in Australia grew to 63,899 units in the first quarter of 2024, up from 34,958 in the same period in 2023. The Society of Manufacturers of Electric Vehicles (SMEV) also reported a considerable increase in electric vehicle sales in India, from 445,001 units in 2021-22 to 1,670,736 units in 2023-24. The global electric car market grew significantly in the first quarter of 2024, with sales approaching 3.5 million units, according to the China Passenger Car Association and the European Automobile Manufacturers' Association. Notably, China maintained its top position by selling approximately 1.9 million electric vehicles between January and March 2024, a 35% increase over the same period in 2023 enhancing the soft starter market revenue.

Furthermore, the International Organization of Motor Vehicle Manufacturers reports that global light commercial vehicle manufacturing climbed dramatically between 2020 and 2023, from 16,990,857 units in 2020 to 21,441,715 units in 2023. This growth was seen in all regions, with European production rising from 1,883,087 units in 2020 to 2,203,861 units in 2023. In America, output increased from 10,225,219 units in 2020 to 13,299,671 units in 2023, while Asia-Oceania experienced an increase from 4,668,333 units in 2020 to 5,611,657 units in 2023. Africa's production of light commercial vehicles increased from 214,218 in 2020 to 326,526 in 2023 demonstrating growth in the soft starter market.

In 2018, the Energy Technologies Area at Lawrence Berkeley National Laboratory estimated that there were roughly 52.5 million (±4.5 million) installed motors in the US, with 80% in the commercial sector and 20% in the industrial sector. The commercial sector had approximately 41.7 million (±4.4 million) motors, whereas the industrial sector accounted for 10.8 million (±1.1 million).

These trends in electric vehicle adoption, together with increased production of light commercial vehicles, contribute to rising demand for electric motors, which drives the worldwide soft starter market. Soft starts are critical for managing inrush currents and decreasing mechanical stress on motors, which improves efficiency and extends their lifespan. As the use of electric motors grows, particularly in the commercial and industrial sectors, so will the demand for soft starters, which will help to drive the market forward.

The global Soft Starter industry is being driven by rising demand across several industries and significant advancements in technology.

• As companies attempt to increase energy efficiency, soft starters have become key components in cutting power consumption and optimizing motor control, driving soft starter market growth.

• The growing use of automation and process control systems in manufacturing and industrial applications drives up demand for soft starts.

The market confronts hurdles due to high costs and regulatory complexities.

• The high initial expenses of soft starter installation and integration can be prohibitive for small and medium-sized businesses.

• The industry is subject to severe laws governing energy efficiency and environmental compliance, which can raise the cost and complexity of product design.

Emerging trends and rising applications in renewable energy present expansion of soft starter market opportunities.

• The increased usage of renewable energy sources such as wind and solar power needs sophisticated motor control systems, with soft starts playing an important part in regulating variable power outputs.

• As the electric vehicle market grows, so does the demand for soft starts in EV charging infrastructure, which enable stable and efficient charging operations.

The market is characterized by rapid technical advancement and fierce rivalry.

• Rapid developments in motor control and power electronics technology may render current soft starter products outdated.

• The development and use of alternative motor control technologies, such as variable frequency drives (VFDs), represent a serious threat to the soft starter industry.

Key Players in the Global Soft Starter Market and their Key Initiatives

Siemens AG

• Introduced the SIRIUS 3RW55 soft starter, enhancing motor control and energy efficiency.

• Expanded digital solutions for remote monitoring and diagnostics of soft starters to meet the growing demand of soft starter market.

Schneider Electric SE

• Launched Altivar Soft Starter ATS480 to enhance motor protection.

• Integrated IoT capabilities for real-time monitoring and control to capture the soft starter market opportunities.

Eaton Corporation plc

• Launched advanced soft starter models with enhanced digital controls and IoT integration.

• Focused on energy-efficient solutions to reduce power consumption.

Rockwell Automation, Inc.

• Introduced the Allen-Bradley SMC-50 smart motor controller.

• Formed alliances with global distributors to expand market reach.

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Global Soft Starter Industry Segmentation

“Global Soft Starter Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by End Use Industry

• Mining and Metal

• Food and Beverage

• Energy and Power

• Oil and Gas

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Soft Starter Market Share

The growth of the soft starter industry is also driven by the growing need to increase the safety and efficiency of power distribution systems in various sectors such as oil and gas, mining, food and beverage, and energy and power, among others. Soft starters help bolster the efficiency of power distribution systems by preventing conditions like overloading and providing warning about abnormal load conditions. This helps save any kind of equipment damage and the associated costs.

The soft starter market dynamics and trends are shaped by the growing demand for electrical energy solutions for sustaining the global development.

The product also helps extend the lifespan of equipment which proves to be beneficial in industrial operations at factories or plants. Hence, these factors are anticipated to aid the market. Moreover, the market is anticipated to be driven by the rising demand for industrial pumps such as centrifugal pump in the oil and gas industry, which is likely to propel the soft starter demand growth.

Leading Companies in the Soft Starter Market

These companies are prominent players in the industrial automation and electrical equipment markets, offering a wide range of products, including soft starters.

• Siemens AG

• Schneider Electric SE

• Eaton Corporation plc

• Rockwell Automation, Inc.

• ABB Ltd.

• Danfoss A/S

Key Highlights of the Report

Soft Starter Market Report Snapshots

Soft Starter Market Size

Soft Starter Market Growth

Soft Starter Market Analysis

Soft Starter Market Share

Soft Starter Companies