Kenneth Research published a report on the Global Motor Soft Starter Market which gives a detailed analysis of the present market landscape. The report which is evaluated for the forecast period, i.e., 2022-2031, provides an in-depth analysis of the market, based on size, volume, latest trends, opportunities and challenges are associated.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Motor Soft Starter Market products.
Get a Sample Copy of this Report with Graphs and Charts: https://www.kennethresearch.com/sample-request-10325219
It is also anticipated to grow on account of the growing demand for alternative renewable energy sources, backed by the growing concern for pollution worldwide emitted from burning conventional fuel sources. Total electricity capacity from renewable energy sources around the world increased from around 750,000MW in 2000 to about 2,500,000MW in 2019. Additionally, electricity from hydropower energy, wind, solar, and bioenergy, grew from around 780000MW, 16000MW, 1200MW, and 29000MW in 2000 to 1300000MW, 620000MW, 580000MW, and 120000MW in 2019 respectively.
Global Motor soft starter Market is valued approximately USD 1.70 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.00% over the forecast period 2020-2027. The Motor soft starter has impressive application in various end-use industries such as oil & gas, mining and power generation industries. It helps in minimizing the inrush current formed while motor start up and accordingly enhance the prolonging and efficiency of motor. Along with this, it significantly helps in controlling motor acceleration which results in safety of motor from various damage while in entire process. It is an equipment that is installed with compressors, fans, pumps and other devices to efficiently control the flow of current to desired level of users. The motors have wide range of application in oil & gas industries where soft starters installed in motors plays essential role to control the voltage of the motor at the start to safeguard the motor against heavy inrush currents. Therefore, global rise in spending among oil and gas industries is driving the growth of market over the forecast years. For instance: as per International Energy Agency (IEA), the global oil & gas upstream capital spending in 2017 was USD 450 billion and increased to USD 497 billion till 2019. In addition, growing demand for heating, ventilation and air conditioning application is propelling the growth of market over the upcoming period. Whereas, rising investment in non-oil sector of the Middle East is creating a lucrative thrust to the growth of market over the forecast years. However, decline in investment in conventional power generation plants is hampering the growth of market.
The regional analysis of global Motor soft starter market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the rapid growth in construction sector in the region. Also, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing power generation capacity additions and electricity demand would create lucrative growth prospects for the Motor soft starter market across Asia-Pacific region.
Major market player included in this report are:
Larsen & Toubro
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Rated Power:
Up to 750W
751 W-75 Kw
Above 75 Kw
Oil & Gas
Water & Wastewater
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2022 to 2031
Download Free Sample Reports Here – https://www.kennethresearch.com/sample-request-10325219
Target Audience of the Global Motor soft starter Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Email : firstname.lastname@example.org
Phone: +1 313 462 0609