Soft Starter Market

Global Soft Starter Market:

The global soft starter market size reached US$ 2.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.3% during 2024-2032. The increasing demand for industrial pumps and electric motors is primarily driving the market.

Soft Starter Market Analysis:

• Major Market Drivers: The extensive heating, ventilation, and air conditioning (HVAC) applications are stimulating the market. Moreover, favorable initiatives launched by the government bodies of numerous countries for investing in wastewater projects are also acting as significant growth-inducing factors.
• Key Market Trends: The growing integration of numerous digital solutions has enabled the development of soft starters in flexible, compact, and modular designs, which further offer various advanced features and functions to consumers and suppliers, including increased efficiency, enhanced protection, superior communication capabilities, reduced downtime, etc.
• Competitive Landscape: Some of the prominent companies in the global market include ABB Ltd., AuCom Electronics Ltd. (Benshaw Inc), Carlo Gavazzi Holding AG, CG Power and Industrial Solutions, Danfoss Group, Eaton Corporation PLC, Littelfuse Inc., OMRON Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and SOLCON, among many others.
• Geographical Trends: North America exhibits a clear dominance in the market, owing to the rising number of construction activities. Besides this, extensive investments in the development of enhanced product variants are expected to fuel the regional market over the forecasted period.
• Challenges and Opportunities: One of the primary challenges hindering the market is the high cost and complexity of installation and maintenance. However, the introduction of more user-friendly and cost-effective solutions through technological advancements is expected to catalyze the market in the coming years.

Soft Starter Market Trends:

Rising Use of Automation Technologies

The emerging trend of industrial automation is escalating the demand for soft starters, as they offer precise control over motor operations, thereby minimizing wear and tear. For example, in June 2024, Lenze Americas, one of the global manufacturers of mechanical drives, motion control, and automation technology, introduced an innovative smart motor designed for applications, including material handling. Moreover, it offers customers the freedom and power they want in motion control, with freely adjustable speeds, programmable I/O, and integrated functions for conveying needs. This represents one of the soft starter market's recent opportunities.

Growing Focus on Energy Efficiency

Energy efficiency is becoming an important focus across various industries due to rising energy costs and stringent environmental regulations. Soft starters play a vital role in minimizing energy consumption by reducing inrush currents and preventing electrical surges during motor startup. This not only lowers operational costs but also contributes to sustainability efforts, which is elevating the soft starter market's recent price. Industries are widely adopting soft starters to reduce carbon footprints, meet energy efficiency standards, and achieve long-term savings, driving the market growth for these devices. For instance, in April 2024, Rockwell Automation, Inc., the world's largest company dedicated to digital transformation and industrial automation, developed the FLEXLINE™ 3500, a new low voltage motor control center (MCC) for IEC.

Increasing Applications in Numerous Industries

The rising number of infrastructure development projects, including water treatment, power generation, transportation, etc., is acting as another significant growth-inducing factor. They require reliable motor control solutions to ensure smooth operations of compressors, pumps, and other critical equipment. As per the soft starter market overview, this is stimulating the market. For example, in April 2024, ABB India introduced its latest IEC Low Voltage IE4 cast iron super premium efficiency motors that are tailored for a range of industries, including packaging, food and beverage, metals, cement and mining, plastics and rubber, etc.

Global Soft Starter Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the soft starter market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on the type, application, and end use industry.

Breakup by Type:

• Low Voltage Soft Starter
• Medium to High Voltage Soft Starter
   

Medium to high voltage soft starter currently exhibits a clear dominance in the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes low voltage soft starter and medium to high voltage soft starter. According to the report, medium to high voltage soft starter represented the largest market segmentation.

Medium to high voltage soft starters are essential devices for controlling the acceleration and deceleration of large electric motors, thereby reducing mechanical stress and electrical peak currents. They are typically used in industries such as oil and gas, mining, water treatment, and power generation, where they enhance motor lifespan and energy efficiency. Examples of such products include the ABB PSTX range, which offers advanced protection features and a wide voltage range, and the Siemens 3RW55 series, known for its robust design and integration capabilities with industrial automation systems. These soft starters often come with features like built-in bypass contactors, extensive diagnostics, and customizable control options, making them suitable for demanding industrial applications. This, in turn, is elevating the soft starter market revenue.

Breakup by Application:

• Pumps
• Fans and Blowers
• Compressors
   

Currently, pumps hold the largest market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes pumps, fans and blowers, and compressors. According to the report, pumps represented the largest market segmentation.

Pumps represented the largest segmentation in the market primarily because they are integral to a wide range of industries, including water treatment, oil and gas, and manufacturing, where controlling the flow and pressure of liquids is crucial. The use of soft starters in pump applications minimizes mechanical stress and electrical surges during startup and shutdown, enhancing the longevity and reliability of the pumping systems. For instance, in water treatment plants, Schneider Electric's Altistart soft starters are commonly utilized to ensure the smooth operation of pumps, reducing the risk of water hammer and mechanical wear. This widespread application of pumps in critical processes underscores their dominant presence in the soft starter market outlook.

Breakup by End Use Industry:

• Mining and Metal
• Food and Beverage
• Energy and Power
• Oil and Gas
• Others
   

 Oil and gas industry accounts for the majority of the total soft starter market share

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes mining and metal, food and beverage, energy and power, oil and gas, and others. According to the report, the oil and gas industry represented the largest market segmentation.

The oil and gas industry represented the largest segmentation in the market due to its high demand for reliable and efficient motor control solutions in various applications such as drilling, pumping, and processing. In this sector, the need to minimize equipment downtime and maintenance costs is critical, making soft starters an ideal choice for their ability to reduce mechanical stress and electrical peaks during motor startup and shutdown. For example, in offshore drilling operations, the use of ABB's PSTX soft starters helps ensure smooth and controlled operation of large pumps and compressors, preventing sudden surges and extending the lifespan of critical machinery. This extensive use of soft starters in essential oil and gas operations highlights the industry's significant contribution to the soft starter market demand.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America currently dominates the market

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share. 

The market in North America is characterized by a robust demand driven by the region's advanced industrial base, the widespread adoption of automation technologies, and stringent energy efficiency regulations. Industries, such as oil and gas, water treatment, and manufacturing, heavily rely on soft starters to enhance motor performance and reduce operational costs. For instance, Siemens' 3RW44 soft starters are widely used in North American manufacturing plants to ensure smooth motor startups and minimize electrical disturbances. Additionally, in the water treatment sector, Rockwell Automation's Allen-Bradley SMC-50 soft starters are popular for their advanced control features and reliability, supporting the region's efforts to optimize energy use and maintain high operational standards. This diverse industrial application underscores the significance of the soft starter market statistics in North America.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major soft starter market companies have also been provided. Some of the key players in the market include:

• ABB Ltd.
• AuCom Electronics Ltd. (Benshaw Inc)
• Carlo Gavazzi Holding AG
• CG Power and Industrial Solutions
• Danfoss Group
• Eaton Corporation PLC
• Littelfuse Inc.
• OMRON Corporation
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• SOLCON
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Soft Starter Market Recent Developments:

• June 2024: Schneider Electric introduced a new soft motor starter, the Altivar Soft Starter ATS130, which enables machine builders, OEMs, and panel builders to optimize the design of their machines and reduce the need for preventative maintenance.
• April 2024: VMAC developed the UNDERHOOD 40 with advanced digital controls, built-in soft start, telematics, etc.
• April 2024: Toyota Kirloskar Motor launched a new variant in the Innova Hycross range that offers features such as front and rear parking sensors, LED fog lights, and a rear defogger.

Soft Starter Market Report Scope:

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the soft starter market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global soft starter market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the soft starter industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.