SOFT STARTER MARKET ANALYSIS
Global Soft Starter Market: Regional Insights
Among regions, North America is projected to show significant growth in the global soft starter market during the forecast period, owing to growing adoption of soft starters across several industries such as mining and meta, oil and gas, power, and energy among others. Moreover, the region is headquarter for some of the major vendors in the market including Benshaw Inc. and Rockwell Automation Inc. Furthermore, increasing number of market vendors are focusing on various growth strategies, such as merger and acquisition, which is also expected to drive growth of the global soft starter market during the forecast period. For instance, in December 2019, Benshaw Inc. announced to acquire Aucom Electronics. Ltd., a soft starter manufacturer. Thus, these factors are expected to drive growth of the market across the region over the forecast future.
Furthermore, Asia Pacific is expected to gain major share in the global soft starter market during the forecast period. This can be due to rise in industrialization across developing nations in the region, such as India and China among others. The growth industries such as power and cement is growing in the region, which in turn is likely to drive the demand for soft starters. The adoption of industrial automation is increasing in the region due to its advantages, which is also expected to augment the demand for start starters in the various industrial automation applications. These factors are likely to boost growth of the market across Asia Pacific in the coming future.
Figure 1: Global Soft Starter Market Share (%), By Region, 2022
Regional Insights
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