Soft Starter Market Research 2024

1. Downloaded from: justpaste.it/702ee Soft Starter Market Demand, News and Application 2024 The soft starter market size has the potential to grow by USD 359.90 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. Get FREE Sample here: https://www.technavio.com/talk-to-us? report=IRTNTR44691&type=sample&src=report This report provides a detailed analysis of the market by end-user (oil and gas, mining, power, automotive, and others), application (pumps, fans and blowers, compressors, and others), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ABB Ltd., CG Power and Industrial Solutions Ltd., Danfoss AS, Eaton Corporation Plc, Emerson Electric Co., General Electric Co., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Toshiba International Corp. Market Competitive Analysis The soft starter market is fragmented with numerous players competing to capture the highest market share. The presence of numerous manufacturers of soft starters that offer a variety of products to end-users in terms of price and geographical expansion has intensified market competition. ABB Ltd., CG Power and Industrial Solutions Ltd., and Danfoss AS are some of the major market participants. Although the high demand for energy-efficient products will offer immense growth opportunities, the popularity of variable frequency drives will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments To help clients improve their market position, this soft starter market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this soft starter market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. Due to stringent government regulations and the need to protect the pumps and fans, soft starters have become an integral part of the oil and gas industry. The increased investments and the rising number of pipelines in regions such as APAC, Middle East, and Africa are expected to increase the installation of soft starters in the oil and gas industries. There is an increased demand for intellectual soft starters as they have an in-built communication protocol that facilitate the sending of notifications before any kind of machine failure, reducing the downtime and increasing the overall efficiency of the production process However, the market growth in the oil and gas segment will be slower than the growth of the market in the power and automotive segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the soft starter market size.

2. Soft Starter Market: Key Drivers and Trends Market research analysis on the global soft starter market identifies the increase in demand for energy-efficient products, which will regulate energy consumption by regulating the voltage of the motors, as one of the primary growth factors for this market. Soft starters provide the required voltage to the motors, which will enable smooth functioning and will also reduce the amount of energy consumed by the motors. The increasing need to reduce energy consumption that will help manufacturers reduce expenses and manufacture low-cost products will drive the demand for soft starters especially in medium and low voltage motors. According to our industry research analysts, this market will grow at a CAGR of over 4% during the forecast period. Continuous technological advancement will lead to the demand for smart starters from the end-user. The intelligent soft starter is a software that not only provides the required torque but also provides proper breaking to the motors, which can reduce the harmonic effects. The installation of the software can also work independently without any support from the supervisors. The emergence of smart factories and the usage of advanced equipment and devices to improve the process in industries will increase the demand for soft starters.