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.

A soft starter is a solid-state device that protects alternating current (AC) electric motors from damage caused by sudden influxes of power. It consists of two principal units, including the power unit and the control unit, which has a heat dissipater and thyristors. It helps to limit transient voltages while providing protection against sudden surges of power that accompany both normal operational and power outages. It limits the starting current of the motor to determine the torque and sets the starting time to initiate the motor softly. It also provides protection against phase failure, overcurrent, and undercurrent.

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

At present, the increasing demand for soft starters as they are efficient, reliable, and enable rapid voltage reduction represents one of the primary factors propelling the growth of the market.

Besides this, the rising employment of soft starters to reduce the mechanical stress on a structure is contributing to the growth of the market. In addition, the growing utilization of industrial pumps in refineries, hydrocarbon processing, water injection, and pipeline services are offering a favorable market outlook.

Apart from this, the increasing installation of heating, ventilation, and air conditioning (HVAC) systems for maintaining proper ventilation and air quality indoors is supporting the growth of the market.

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.

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