Motor Starter Market Analysis

Motor Starter Market Analysis

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Based on phase, three phase motor starter segment size will witness 5% growth rate through 2032. The demand for these motor starters is influenced by the increasing use of these motors in commercial sector and small scale industries. The integration of electronic controls and microprocessor-based technologies will further drive the product penetration.

Based on technology, the automatic motor starter segment captured around 60% of the market share in 2023. Paradigm shift toward sustainability coupled with increasing consumer inclination toward the deployment eco-friendly and energy-efficient solutions will escalate the business growth. Economic growth, infrastructure development, and manufacturing output are among the factors driving the demand for these devices.

Based on voltage, the low voltage motor starter market is set to surpass USD 3.5 billion by 2032. Growing demand for motor starters that offer higher energy efficiency and reduced power consumption, will foster the industry potential. The integration of smart technologies including Internet of Things (IoT) and advanced communication protocols, will further augment the industry landscape.

Based on application, the industrial motor starter industry was witnessing global expansion, with manufacturers targeting emerging markets and establishing a presence in regions experiencing industrial growth. This globalization has led to increased competition and a diversity of offerings, stimulating the industry dynamic.

• The Asia Pacific motor starter market was worth USD 3 billion in 2023. Rapid industrialization in line with robust development of manufacturing facilities will foster the business outlook.
   
• Surging trend toward integrating renewable energy sources into industrial processes will positively impact the industry landscape. Increasing demand for centralized control and monitoring of motors in industrial settings will propel the industry growth.