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Motor Starter Market Trends

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

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Motor Starter Market Trends

The increasing trend towards industrial automation was driving the demand for motor starters that could seamlessly integrate into automated systems. Compliance with environmental regulations and industry standards played a crucial role in shaping the business outlook. The manufacturers were focusing on developing products that met or exceeded these standards, which in turn will offer significant opportunities for business expansion.

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.