Low Voltage Motor Starter Market
Low Voltage Motor Starter Market Global Industry Assessment & Forecast
Segments Covered
- By Type Solid state soft starter, Liquid resistance starter, Other
- By Application Oil and gas industry, Mining industry, Power industry, Automotive industry, Other
Snapshot
Forecast Years: | 2021 - 2028 |
Historical Years: | 2016 - 2020 |
Revenue 2021: | 1.7 Billion |
Revenue 2028: | 3.17 Billion |
Revenue CAGR (2021 - 2028): | 6 |
Fastest Growing Region (2022 - 2028) | Asia Pacific |
Customization Offered
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
FAQ
Frequently Asked Question
What is the global demand for Low Voltage Motor Starter in terms of revenue?
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The global Low Voltage Motor Starter valued at 1.7 Billion in 2020 and is expected to reach 3.17 Billion in 2028 growing at a CAGR of 6%.
Which are the prominent players in the market?
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The prominent players in the market are Emerson, ABB, Siemens, GE, Akron Electric, Schneider Electric, Eaton, Joslyn Clark, Rockwell..
At what CAGR is the market projected to grow within the forecast period?
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The market is project to grow at a CAGR of 6% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
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The driving factors of the Low Voltage Motor Starter include
- The increasing investments in oil & gas and desalination designs is expected to fuel the growth of the low voltage motor starter market in the years to come.
- The increase in use in various industries to control the initial voltage, to protect the motor against heavy inrush currents at the time of motor start is further low voltage motor starter expected to fuel the growth of the market in the years to come.
Which region accounted for the largest share in the market?
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Asia Pacific was the leading regional segment of the Low Voltage Motor Starter in 2020.