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Motor Starter Market Size

Report ID: GMI7596
Published Date: Dec 2023
Report Format: PDF

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Motor Starter Market Size

Motor Starter Market was valued at USD 7.3 billion in 2023 and is anticipated to depict 4.9% CAGR from 2024 to 2032. Driven by the increasing adoption of industrial automation. As industries automate their processes, the demand for efficient motor control and protection devices, favoring the business scenario.

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Growing focus toward sustainability and energy efficiency will positively sway the business growth. The shift toward intelligent motor starters equipped with advanced features including remote monitoring, diagnostics, and smart control capabilities will fuel the product penetration. These features enhance efficiency, reduce downtime, and contribute to predictive maintenance strategies, accelerating the industry growth.

Motor Starter Market Report Attributes
Report Attribute	Details
Base Year:	2023
Motor Starter Market Size in 2023:	USD 7.3 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.9%
2032 Value Projection:	USD 11.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	350
Tables, Charts & Figures:	1,099
Segments covered:	Technology, Voltage, Phase, Application
Growth Drivers:	Increasing trend toward industrial automation Rising demand for energy efficiency Flourishing construction industry & robust expansion of manufacturing sector Renewable energy integration
Pitfalls & Challenges:	Rapid technological changes

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of motor starter was worth USD 7.3 billion in 2022 and is expected to reach over USD 11.1 billion by 2032, due to the increasing adoption of industrial automation along with the growing focus of sustainability and energy efficiency worldwide.

Three phase motor starter industry size is expected to register 5% CAGR from 2023 to 2032, owing to the increasing usage in commercial sector and small scale industries.

Asia Pacific market for motor starter was worth USD 3 billion in 2022 and is expected to register a commendable CAGR from 2023 to 2032, due to rapid industrialization in line with robust development of manufacturing facilities in the region.

Mitsubishi Electric Corporation, General Electric, WEG, Schneider Electric, Siemens, Emerson Electric, Fuji Electric FA Components & Systems Co., Ltd., and ABB are some of the major motor starter companies worldwide.