The global motor soft starters market is poised to surpass USD 2.3 billion by 2023. Industry experts view the motor soft starter market as a lucrative return on investment (ROI) arena and have adopted an 'investment for expansion' approach.
Substantial portions of their earnings are being directed into research and development (R&D) endeavors, focusing on introducing intelligent motor soft starters leveraging IoT technology.
Undoubtedly, the Fourth Industrial Revolution is propelling market participants towards diversifying their product offerings to realize comprehensive automation, expanding the overall market at a CAGR of 4.8% through 2033 to reach USD 3.7 billion.
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Increasing Adoption of HVAC Systems
The increasing need for heating, ventilation, and air conditioning (HVAC) systems in various residential, commercial, and industrial sectors is driving the adoption of motor soft starters. HVAC systems require precise control of motors to ensure energy efficiency and operational effectiveness. Motor soft starters enable smooth and efficient motor operation in HVAC applications.
The Future of Energy is Recording Profits
Oil and gas and power generation industries are gaining traction in the motor soft starters market. The soft starters minimize the inrush and enhance the effectiveness of the motor. Its influential role in the energy market is gaining the attention of several leading manufacturers. For instance, the Roanoke expansion project of the plantation pipeline that started in 2018 is open to provide refined petroleum products.
| Motor Soft Starters Market Estimated Value (2023) | USD 2.3 billion |
|---|---|
| Motor Soft Starters Market Estimated Value (2033) | USD 3.7 billion |
| Motor Soft Starters Market Value CAGR (2022 to 2033) | 4.8% CAGR |
The motor soft starters market is entering a transformative phase as it looks ahead from 2023 to 2033, building upon the consistent growth patterns witnessed from 2018 to 2022. This evolution is marked by a confluence of factors poised to reshape the industry landscape.
| Motor Soft Starters Market Estimated Value (2018) | USD 1.7 billion |
|---|---|
| Motor Soft Starters Market Estimated Value (2022) | USD 2.2 billion |
| Motor Soft Starters Market Value CAGR (2018 to 2022) | 6.3% CAGR |
One of the overarching trends is a profound shift towards enhanced energy efficiency and sustainability, driven by global imperatives to reduce environmental impact and enhance industrial performance, thereby fostering a growth rate of 6.3% from 2018 to 2022.
This transition is compelling industries to adopt innovative motor soft starter technologies that optimize motor operations and align with the growing demand for greener and more sustainable industrial practices.
As per the motor soft starters market analysis by FMI, the industry is expected to get a revenue share of USD 3.7 billion by 2033 and achieve a 4.8% CAGR from 2023 to 2033.
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The market for motor soft starters in China is to be at the forefront of the global market, with an anticipated market share of about USD 700.9 million by 2033, advancing at a 4.6% growth rate from 2023 to 2033.
| China Market Share for 2033 | USD 700.9 million |
|---|---|
| CAGR (2023 to 2033) | 4.6% |
China is a cost-sensitive nation, and the threat of alternatives is minimal as VFDs are by their very nature prohibitively expensive, and large opportunities are projected to arise from China's expanding manufacturing and industrial sectors.
The increase in government initiatives conducted in developing countries to ensure good sanitation and water delivery to the remotest of families demonstrates a hopeful picture for the country's motor soft starter industry. These activities have led to an increase in pump sales, which has also had an impact on the demand for motor soft starters.
Crompton Greaves Ltd. and Toshiba Corporation, two market participants active in the nation, focus their efforts on portfolio diversification with ‘quality and efficiency’ at the forefront of development.
These companies, however, struggle to produce new goods on schedule, which gives other companies the chance to invest in the nation and dominate the motor soft starter industry with faster turnaround times.
The United States is on an accelerated growth trajectory of around 4.7% during the forecast period and is expected to maintain its commanding position in the motor soft starter market with a revenue share of USD 640 million by 2033.
| The United States Market Share for 2033 | USD 640 million |
|---|---|
| CAGR (2023 to 2033) | 4.7% |
This enduring dominance can be attributed to the substantial presence of motor soft starter manufacturers within the country. Furthermore, the industry stands to benefit significantly from the escalating investments in automation, particularly in the oil & gas exploration sector and manufacturing plants.
These investments are poised to drive substantial growth in the United States motor soft starter industry over the forecast period, reinforcing its leadership.
Japan is on an average growth trajectory of around 4.7% during the forecast period and is expected to maintain its dominance in the market with a market share of USD 542 million by 2033.
| Japan Market Share for 2033 | USD 542 million |
|---|---|
| CAGR (2023 to 2033) | 4.6% |
The growing applications of HVAC equipment in data centers and the construction industry result in market growth. Soft starters mitigate wear and tear on HVAC system components, such as fans and compressors, by providing gradual acceleration and deceleration, thereby extending the lifespan of these systems.
Stricter energy efficiency regulations and environmental standards are compelling HVAC system manufacturers to incorporate motor soft starters to meet compliance requirements and reduce energy consumption.
The market for motor soft starters in the United Kingdom is to be at the forefront of the global market, with an anticipated market share of about USD 137 million by 2033, advancing at 4.5% from 2023 to 2033.
| The United Kingdom Market Share for 2033 | USD 137 million |
|---|---|
| CAGR (2023 to 2033) | 4.5% |
Soft starter plays a crucial role in the food and beverage manufacturing process. It offers robust serviceable solutions such as accurate overload protection, cooling systems, process pumps, and conveyors.
For instance, SAF Drives Inc. offers Opal starters configured as solid-state full torque reversing. It allows manufacturing facilities to protect their equipment from a jam with a button or auto-reverse out with the reverse output signal.
South Korea is expected to record a growth of around 4.1% during the forecast period and is expected to be worth USD 542 million by 2033. Soft starters find various applications in the metal industry, such as mining and quarrying. According to a report, the mining sector in South Korea is expected to register a growth of 3.20% through 2028.
| South Korea Market Share for 2033 | USD 158 million |
|---|---|
| CAGR (2023 to 2033) | 4.1% |
For instance, Brilltech Engineers is a soft starter panel manufacturer based in South Korea. These panels are used for industrial communication, modular automation, and monitoring and control devices in mining, among others.
Given the ergonomics in place, a change to intelligent starters encourages players to maintain the pace of innovation. The vast mining sector is predicted to have a greater ascent in demand for motor soft starts.
By 2033, the low-voltage segment is poised to assert its dominance in the motor soft starter market, capturing substantial terms of revenue at 4.6% CAGR over the forecast period.
| Top Voltage | Low |
|---|---|
| CAGR % 2018 to 2022 | 6.1% |
| CAGR % 2023 to End of Forecast(2033) | 4.6% |
This remarkable growth is underpinned by the burgeoning adoption of low-voltage motor soft starters across diverse industries, including but not limited to pulp and paper, food & beverage, and power supply.
The escalating deployment of automated systems and machinery across industrial sectors has emerged as a pivotal driver for the robust expansion of this segment.
Low-voltage soft starters are increasingly gaining favor across industries due to their multifaceted benefits. These advantages encompass mitigating the risk of high current surges during motor startup, thereby ensuring smoother and more controlled operations.
They play a pivotal role in minimizing mechanical stress on both motors and connected equipment, leading to prolonged equipment lifecycles and reduced maintenance costs. This surge in adoption underscores the growing recognition of low-voltage soft starters as an indispensable component in enhancing operational efficiency and reliability across various industrial applications.
As industries continue to emphasize efficiency, safety, and sustainability, the low-voltage motor soft starter segment is set to thrive as a fundamental enabler of these objectives.
The oil and gas segment is likely to lead the end-use category in the coming years. Historically, the segment recorded a growth of 5.8% in the market. Soft starter technology benefits the oil and gas industry both offshore and onshore.
| Top End Use | Oil & Gas |
|---|---|
| CAGR % 2018 to 2022 | 5.8% |
| CAGR % 2023 to End of Forecast(2033) | 4.4% |
The surging demand for oil and gas in developed countries with large oil reserves and resources may provide significant opportunities to the manufacturers engaged in soft starters.
According to IEA, in 2022, the demand for natural gas witnessed a growth of around 350 billion cubic meters globally. Moreover, demand for pipeline construction is lifting the motor soft starters market on a global level.
Market players strategically target regions where substitutes for motor soft starters have a stronger presence. While motor soft starters effectively control electrical system currents, they exhibit limitations when it comes to regulating motor speed. In contrast, AC variable frequency drives (VFDs) offer comprehensive control over motor speed, allowing them to match secondary machine speeds for optimal operation precisely. This key advantage has prompted a transition from motor soft starters to VFDs.
Participants in the motor soft starter market have the potential to reshape end-user perceptions by highlighting the cost-effectiveness and space-saving attributes of their products.
As the push toward automation gains momentum, energy-efficient processes have taken the spotlight, and motor soft starters are well-positioned to play a pivotal role in achieving these objectives. Therefore, market players can leverage these advantages to maintain relevance and competitiveness in the evolving industrial landscape.
Recent Developments in the Industry:
The motor soft starters market is valued at USD 2.3 billion in 2023.
The motor soft starters market achieved a CAGR of 6.3% from 2018 to 2022.
The United States is anticipated to reach USD 640 million by 2033.
The market in the United Kingdom is projected to record a CAGR of 4.5% from 2023 to 2033.
The low-voltage soft starters sub-segment is expected to lead the motor soft starters market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Voltage 5.1. Low 5.2. Medium 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 6.1. Oil & Gas 6.2. Mining 6.3. Power 6.4. Water & Wastewater 6.5. Other End-Uses 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Siemens AG 17.2. ABB Ltd. 17.3. General Electric Company 17.4. Schneider Electric SA 17.5. Eaton Corporation PLC 17.6. Rockwell Automation 17.7. Emerson Electric Company 17.8. Crompton Greaves Ltd. 17.9. Littelfuse 17.10. Danfoss A/S 17.11. WEG SA 17.12. Toshiba International Corporation Pty. 17.13. Carlo Gavazzi Holding AG 17.14. Fairford Electronics Ltd. 18. Assumptions & Acronyms Used 19. Research Methodology
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Motor Soft Starters Market
