Global Soft Starter Market - Growth, Trends, and Forecast (2018 - 2023)
Soft starter improves the reliability of the equipment, as it starts and stops a motor, gradually. These starters also control the torque of the motor and protect it from sudden surges in electricity and overpressure. Soft starters find application in industries, such as steel, cement, textile, and power industries, among others. The global soft starter Market is estimated to be mainly driven by the increase in industrialization, urbanization, and the increasing demand for energy.
Cement Industry Growth is Among the Factors Driving the Market
With the requirement of natural resources and construction materials increasing at an unprecedented rate, cement industries have grown in size and the machinery has increased in complexity. With such excesses, the power required to start particular equipment has also increased in the cement industries, all over the world. The requirement has increased drastically, leading to a need for continuous monitoring of the load shedding and evaluation of power supply to every equipment. In such a scenario, the starting of a cement plant is a daunting task and, hence, the deployment of soft starters for the safe operation of the plant has become inevitable. The stability of the technology brought to the industry has encouraged industries, worldwide, to install soft starters.
Impact of Industrialization in Asia-Pacific on Soft Starter Demand
Asia-Pacific is likely to emerge as a demand center for soft starters, led by the increase in industrialization in the region’s emerging economies, such as India and China, among others. Industries, such as cement, steel, and power, are expected to grow during the forecast period, which is expected to drive the demand for soft starters in the region. Additionally, Asia-Pacific is expected to be among the fastest growing markets for soft starters during the forecast period.
India’s Growing Cement Industry Driving the Market
India is the second-largest cement producer in the world. The housing sector accounts for more than 50% of the cement demand. In 2017, the cement industry was estimated to grow by 6-7%, due to the government’s focus on infrastructure development. As of September 2017, country’s total cement production capacity was around 425 million metric ton. On the back of growing demand from various sectors, such as housing, industrial construction, and commercial construction, the cement industry is expected to reach 550 million metric ton capacity by 2025, and drive the demand for soft starter in the country.
Key Developments in the Market
February 2018: Rockwell Automation introduced smart motor controllers, Allen-Bradley SMC-50. The product is an extension of the SMC-50 soft starter family.
The major players include - Siemens AG, Schneider Electric SE, Eaton Corporation PLC, ABB Ltd, Brilltech, Toshiba Corp., amongst others
Reasons to Purchase this report
Current and future global soft starter market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
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