The latest research study “Soft Starter Market Report : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global soft starter market reached a value of US$ 1.87 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.56 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Soft starters refer to additional devices used with electrical motors to reduce the load and limit the torque temporarily in the powertrain during startup. They work by controlling the amount of voltage running through the motor circuits and utilize silicon-controlled rectifiers (SCR) or thyristors to enable the conduction of current flow in one direction. They offer enhanced acceleration and deceleration control, reduce energy use, improve operating efficiency, extend the lifespan of mechanical components, protect the electrical equipment, prevent motor overheating, and minimize power surges. As a result, soft starters find extensive applications in pumps, fans, compressors, and conveyor belts.
Soft Starter Market Trends and Drivers:
The soft starter market is primarily driven by the escalating demand for electric motors and industrial pumps. Additionally, with the rising construction activities, there has been widespread product adoption in heating, ventilation, and cooling (HVAC) systems to reduce the inrush current required for operating compressors.
Besides this, the increasing usage of soft starters in pumps and coolers to ensure access to clean water in water and wastewater treatment plants has augmented the product demand. Furthermore, various product innovations, such as the launch of compact, flexible, and advanced soft starters embedded with smart features and functions, have accelerated the product adoption rate.
Other factors, including extensive investments in oil and gas projects, favorable government initiatives, emerging applications in data centers, rapid industrialization, and technological advancements, are also anticipated to catalyze the market growth.
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Global Soft Starter Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these major key players include:
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The report has segmented the market on the basis of region, type, application and end use industry.
Breakup by End Use Industry:
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Key highlights of the report:
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