Rising Demand for Industrial Pumps and Technological Advancements to Encourage Growth of Global Motor Soft Starter Market
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Motor soft starters are being used extensively in diverse industries across the globe, owing to which the global motor soft starter market is expected to witness a significant growth in the next few years. Motor soft starters ensure smooth starting of the system by controlling the torque for a progressive acceleration of the system. This helps in extending the life of the mechanical components and prevents vibration in the system. In addition, the motor soft starters decrease the initial current in order to accomplish break away, further controlling the current during acceleration of the drive system. Thus, the electrical equipment remains safe from mechanical, thermal, and electric stress.
The growing demand for HVAC control systems and industrial pumps is one of the primary factors estimated to augment the growth of the global motor soft starter market in the next few years. Moreover, motor soft starters are cost effective and have minimal space requirements, which are anticipated to bolster the global market throughout the forecast period. However, the functional superiority of variable frequency drive and its competitive pricing in low voltage segment are some of the primary factors projected to curtail the growth of the market in the near future. Nevertheless, the key players in the market are focusing on technological advancements in order to offer innovative and effective products to the consumers.
Europe and North America are considered as the early adopters of innovative technology and are expected to remain in the leading position in the next few years. Nevertheless, the Asia Pacific market for motor soft starters is estimated to witness robust growth throughout the forecast period, thanks to the high rate of industrialization in developing countries such as India and China.
Some of the leading players engaged in the motor soft starter market across the globe are Rockwell Automation, Danfoss A/S, WEG SA, Schneider Electric, Emerson Electric Co., ABB Ltd, Crompton Greaves Limited, Toshiba Corporation, Siemens AG, and Eaton Corporation PLC. Several mergers and acquisitions and strategic expansions have assisted the key companies in enhancing their product portfolio across the globe. The other key strategies adopted by the leading players have also been discussed in the research report to help the entrants in making appropriate decisions in the next few years.
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