Motor Soft Starter Market Share

APAC Market Forecast

Asia Pacific industry is expected to hold largest revenue share of 36% by 2037. The growth of the market can be attributed majorly to the rise in new oil and gas projects in the region. ONGC has announced its plans to set up an oil to a chemical facility in India to extract high-value chemical products directly from crude oil. This in turn will also increase the production of crude oil. On the other hand, Indradhanush Gas Grid Ltd has started the new project of laying down a natural gas pipeline of 1656 km long in eight north easter states of India. On the other hand, China is at the forefront of the fourth revolution of industrial, the adoption of automation has drastically increased which is further boosting the market growth in the region.

Europe Market Statistics

The European motor soft starter market is estimated to be the second largest, registering a share of about 28% by the end of 2037. The growth of the market can be attributed majorly to the presence of leading manufacturers in the regions. The companies are expanding their motor soft starter portfolio which is boosting the product growth in the region. For instance, recently Siemens Smart Infrastructures launched their new series 3rW50 and Sirius 3RW55 Failsafe, both products were launched in Europe to expand their product portfolio. Furthermore, as a part of motor control solutions for European countries, Motoronis UK launched their new range of soft starters in the region.