Soft starter market device that used to temporarily reduce the load and torque by controlling the amount of voltage running through the motors circuits. Soft starters are effective in dealing with the problems that might arise at the time of acceleration and deceleration of current applications.
Growth and expansion of semiconductors industry especially in the emerging ones, growing usage of soft starter by the small and medium scale enterprises in the developing economies, surging awareness about the benefits of soft starter, upgrading and revitalization of infrastructure, growth in automation sector, rising number of oil and gas exploration activities, rising up gradation of existing infrastructure with advanced systems and increasing infrastructural development activities especially in the developing economies are the major factors attributable to the growth of soft starter market. Data Bridge Market Research analyses that the soft starter market will exhibit a CAGR of 6.78% for the forecast period of 2022-2029. Therefore, the soft starter would rocket up to USD 1.66 billion by 2029.
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· Demand for industrial pumps is increasing in several end-use industries dealing with water, chemicals, petroleum, wastewater, oil, sludge, slurry or food, due to their resistivity towards different hazardous chemicals and durability. The demand for industrial pumps is further propelled with increased deliverable pressure pertaining to time.
· Industrial pumps such as centrifugal pumps are known for their extensive usage in refineries, hydrocarbon processing, water injection, and pipeline services. The growth of refineries across the world is expected to drive the demand for centrifugal pumps. For instance, In June 2020, Dharmendra Pradhan, Oil Minister of India, affirmed that India is planning to double its oil refining capacity to 450-500 million tonnes in the next ten years to meet the rising demand domestic fuel.
· Further, the deployment of a soft starter in HVAC units results in improved efficiency and longevity by reducing the inrush current needed for compressors to start by 60%. The growing applications in end-user markets like the data center market and growing construction business in major emerging economies have resulted in the growth of the HVAC equipment market, consequently the growth of the target market over the forecast period.
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Major toc of the report
Ø Chapter One: Introduction
Ø Chapter Two: Market Segmentation
Ø Chapter Three: Market Overview
Ø Chapter Four: Executive Summary
Ø Chapter Five: Premium Insights
TOC Details- https://www.databridgemarketresearch.com/toc/?dbmr=global-soft-starter-market
The major players covered in the soft starter market report areABB, Eaton, Siemens, Schneider Electric, Rockwell Automation, Inc., Emerson Electric Co., CG Power and Industrial Solutions, Danfoss A/S, LARSEN & TOUBRO LIMITED, WEG, Toshiba International Corporation Pty Ltd., Phasetronics Inc. dbaMotortronics, SOLCON., CARLO GAVAZZI UK LTD, Nolta India Pvt. Ltd., Minilec India Private Limited, Benshaw Inc.,among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa(MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Profound Questions Answered in this Report:
· What is the growth rate of various stages in the value chain of the industry?
· Which region has the highest growth rate and size of the emerging market by value in 2022?
· Who are the competitive players in Global Soft Starter Market?
· Which region has the largest share and degree of competition in the industry?
· What is the CAGR of the market during the forecast period 2022 to 2028?
· Which region is expected to hold the highest market share for the market?
· What is the main driver of the Global Soft Starter Market?
· What is sales volume, revenue, and price analysis of top players of the market?
· What are the market opportunities and threats faced by the vendors in the industry?
· What has been the impact of COVID-19 on the Global Soft Starter Market?
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