Low Voltage Motor Starter Market
Low Voltage Motor Starter Market by Type (Solid state soft starter, Liquid resistance starter, Other) by Application (Oil and gas industry, Mining industry, Power industry, Automotive industry, Other) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028
Research Methodology: Low Voltage Motor Starter Market by Type by Application by by Region – Global Market Assessment, 2021 - 2028
We at Vantage Market Research, employ comprehensive methodology for each market study, and Low Voltage Motor Starter Market is not an exception. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. We were connected with more than 145 primary respondents adequately distributed across the five regions to procure required Low Voltage Motor Starter market-related information.
Secondary Research
Primary Research:
The next stage involves the primary research conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills the following data requirements
Data Triangulation and Market Size Estimations
At the later stage and after procuring data from secondary and primary research, top-down and bottom-up approaches are used to validate and estimate the market size of the Low Voltage Motor Starter market. After the determination of the overall market size, the market is divided into various segments and sub-segments. The data was triangulated by employing various data models and statistical techniques to arrive at exact statistics and also considering key market trends from supply as well as the demand side of the market.
Frequently Asked Questions
-
What is
the global demand for Low Voltage Motor Starter
in terms of revenue?
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?
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?
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.
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?
Asia Pacific was the leading regional segment of the Low Voltage Motor Starter in 2020.
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