IMARC Group, a leading market research company, has recently releases report titled “Soft Starter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global soft starter market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Soft Starter Market?

The global soft starter market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.

What is Soft Starter?

Soft starters, also known as reduced voltage starters, refer to solid-state devices that work on the principle of thyristor, which allows current to flow in one direction. They help protect the electronic equipment, prolong the lifespan of mechanical components, eliminate motor heating, and prevent bumps by temporarily reducing inrush currents and limiting torque in the powertrain during startup. They are commercially available in low, medium, and high-voltage types. They provide enhanced efficiency and regulated startup to ensure smooth starting. As a result, soft starters are widely used to maintain a three-phase voltage supply in pumps, fans, and compressors. 

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What are the growth prospects and trends in the soft starter industry?

The global soft starter market is primarily driven by the surging product adoption across various industry verticals due to the growing demand for industrial pumps and electric motors. Additionally, the rising use of soft starters for heating, ventilation, and air conditioning (HVAC) applications on account of the increasing construction activities is positively influencing the market growth.

Moreover, the development of soft starters in compact, flexible and modular designs through the extensive integration of various digital solutions, which offers improved protection, superior communication capabilities, increased efficiency, and reduced downtime, has catalyzed the market growth. Furthermore, there has been widespread adoption of soft starters in data centers as they help reduce the inrush current required for operating the systems.

In line with this, several favorable initiatives undertaken by governments of numerous countries for investing in wastewater projects, wherein soft starters are used in pumps and coolers to ensure access to clean water, are contributing to market growth. Other factors, including the rising demand for industrial pumps, rapid expansion in the construction industry, and surging awareness about the benefits of soft starters, are also anticipated to drive the market further.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

  • Low Voltage Soft Starter
  • Medium to High Voltage Soft Starter
     

Breakup by Application:

  • Pumps
  • Fans and Blowers
  • Compressors
     

Breakup by End Use Industry:

  • Mining and Metal
  • Food and Beverage
  • Energy and Power
  • Oil and Gas
  • Others

 Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

ABB Ltd., AuCom Electronics Ltd. (Benshaw Inc), Carlo Gavazzi Holding AG, CG Power and Industrial Solutions, Danfoss Group, Eaton Corporation PLC, Littelfuse Inc., OMRON Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG and SOLCON

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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