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Residential Automatic Motor Starter Market Trends

Report ID: GMI11863
Published Date: Oct 2024
Report Format: PDF

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Residential Automatic Motor Starter Market Trends

The industry is set for robust growth driven by increasing energy efficiency demand, urbanization growth and rapid technological advancements. Growing integration of smart home systems which enable homeowners to remotely control and monitor their electrical systems, thereby proliferating the business growth. Rising expansion of housing development projects in emerging markets in tandem with there is need for efficient residential electrical solutions will propel the demand for automatic motor starter.

Authors: Ankit Gupta, Saurabh Singh

Frequently Asked Questions (FAQ) :

The global residential automatic motor starter industry was valued at USD 1.21 billion in 2023 and is estimated to grow at a 4.6% CAGR from 2024 to 2032, driven by growing concerns over energy consumption and the rising demand for efficient electrical units.

The medium voltage segment is expected to exceed USD 600 million by 2032, as these starters become more streamlined and easier to install, appealing to modern homeowners.

U.S. residential automatic motor starter industry is set to reach over USD 200 million by 2032, fueled by rising urbanization, new residential constructions, and the prioritization of energy-efficient smart solutions.

Key players in the industry include ABB, CHINT Group, C&S Electric, Danfoss, Eaton, Emerson Electric, Fuji Electric, Havells India, and L&T Electrical and Automation.