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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Soft Starter Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global soft starter market attained a value of nearly USD 2,045.12 million.
The global soft starter market is assessed to grow at a CAGR of 5.80% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 3,402.74 million by 2032.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The major drivers of the market include the rising application of the product in various end use sectors such oil and gas, mining and metal, and food and beverage, among others, growing demand for industrial pumps, and rapid urbanisation.
The rapid industrialisation in emerging nations is expected to be a key trend guiding the growth of the industry.
The leading end use industries in the market are Mining and Metal, Food and Beverage, Energy and Power, Oil and Gas, and Others.
The competitive landscape consists of Siemens AG, Schneider Electric SE, Eaton Corporation plc, Rockwell Automation, Inc., ABB Ltd., Danfoss A/S, and among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124