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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
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 06 17 27
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 287899028, +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
+84865399124