Hazardous Location Motor Starters Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The hazardous location motor starters market is expected to register a CAGR of 5.25% over the forecast period (2021-2026). Major offshore oil and gas developments, new oil discoveries, coupled with an increasing focus on deepwater drilling activities and rising expenditures in the water and wastewater industry, are the major opportunities for the market to grow in the future.
Key HighlightsThe hazardous location motor starters market is fragmented in nature due to the presence of a large number of regional and international players of various sizes. The market competition is predicted to grow higher with the increase in technological innovation and M&A activities in the future. Moreover, many local and regional vendors are offering specific application products for diverse end-users. Key players are Rockwell Automation, Schneider Electric, ABB Group, etc. Recent developments in the market are -
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