Motor Soft Starter Market Expected to Reach $4.5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Motor Soft Starter Market," The motor soft starter market was valued at $2.4 billion in 2022, and is estimated to reach $4.5 billion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.

The motor soft starter market plays a pivotal role in diverse industries by facilitating controlled motor acceleration and reducing energy consumption during startups, contributing significantly to operational efficiency. It operates on an upward trajectory driven by several key factors. Increasing industrial automation across sectors such as manufacturing, utilities, and oil and gas propels the demand for efficient motor control solutions, aligning with global energy efficiency mandates.

In addition, the heightened focus on equipment protection and the drive for energy conservation further bolster the market's growth. Technological advancements in soft starter design, including improved control algorithms and enhanced communication interfaces, enhance reliability and efficiency, meeting evolving motor soft starter industry needs and sustainability goals.

However, challenges exist within the motor soft starter market, primarily concerning initial costs and the need for industry-wide awareness. The perceived high initial investment deter some industries, resembling similar cost challenges encountered in various sectors. In addition, limited awareness of the benefits of soft starters in specific applications might hinder widespread adoption, potentially affecting motor soft starter market growth.

As industries worldwide transition toward more sustainable practices, the motor soft starter market adapts to meet stringent environmental standards. The market's trajectory is intertwined with sustainability reforms, emphasizing cleaner and more efficient motor control technologies. This transition fuels the adoption of energy-efficient soft starter systems and drives innovation, particularly in integrating IoT sensor solutions for remote monitoring and predictive maintenance.

Despite these advancements, integrating sophisticated technologies such as IoT sensors and ensuring specialized expertise in soft starter operation poses technical challenges. Overcoming these complexities is essential to maintain operational efficiency, adhere to evolving environmental regulations, and ensure the continued growth and relevance of the motor soft starter market in the global industrial landscape.

The motor soft starter market scope is segmented on the basis of voltage, power rating, application, end-use industry, and region. By voltage, the market is divided into low voltage, and medium voltage. By power rating, the market is bifurcated into up to 100 KW and above 100 KW. On the basis of application, it is segregated into pumps, fans, and compressors. On the basis of end-use industry, it is categorized into oil & gas, water & wastewater, power generation, mining, and others. Region-wise, the motor soft starter market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global motor soft starter market size, and is likely to dominate the market during the motor soft starter market forecast period.

However, the Asia-Pacific region is expected to witness the fastest CAGR growth from 2023 to 2032. The motor soft starter industry in the Asia-Pacific region is undergoing a transformation due to industrialization, energy efficiency regulations, and technological advancements. The region's rapid infrastructural development and growing industrial landscape are increasing the need for these starters in construction projects and equipment deployments. Renewable energy sources like wind and solar power present opportunities for integrating sophisticated motor control mechanisms. Manufacturers can penetrate untapped markets, cater to diverse industry needs, and facilitate technology transfer. The abovementioned factors will provide motor soft starter market opportunities for the future development.

Competitive motor soft starter market analysis and profiles of the major motor soft starter market players, such Siemens AG, Schneider Electric, Rockwell Automation, Mitsubishi Electric, Danfoss A/S, Emerson Electric, ABB Ltd., Larsen & Toubro, Eaton, and Toshiba Corporation. are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications.

Key Findings Of The Study:

• On the basis of voltage, the low voltage segment emerged as the global leader by acquiring nearly two-third of the motor soft starters market share in 2022 and is anticipated to continue this trend during the motor soft starter forecast period.
• On the basis of power rating, the up to 100 KW segment emerged as the global leader by acquiring more than three-fifths of the motor soft starters market share in 2022 and is anticipated to continue this trend during the forecast period.
• Depending on application, the pumps segment emerged as the largest market share in 2022, which accounts for nearly half of the motor soft starters market share.
• Depending on end-use industry, the power generation segment emerged as the largest market share in 2022, which accounts for more than two-fifths of the motor soft starters market share.
• On the basis of region, North America is the major consumer of motor soft starters among other regions. It accounted for nearly two-fifths of the global market share in 2022.