Motor Starter Market Size & Share Analysis - Growth Trends And Forecast (2024 - 2029)

Motor Starter Market Analysis

The Motor Starter Market size is estimated at USD 6.13 billion in 2024, and is expected to reach USD 8.20 billion by 2029, growing at a CAGR of 6% during the forecast period (2024-2029).

• In response to growing environmental concerns, industries are increasingly adopting energy-efficient motor starters, like soft starters, to reduce energy consumption and extend motor lifespan. Concurrently, the rise of the Internet of Things (IoT) has spurred the creation of intelligent motor starters, enabling remote monitoring and control, thus evolving the market.
• The global shift toward electric vehicles (EVs) has heightened the demand for sophisticated motor control solutions, including motor starters in automotive applications. In EVs, motor starters collaborate with battery management systems to optimize performance and ensure safety. As countries pivot from internal combustion engines to EVs across the world, the demand for motor starters is projected to surge.
• Recent innovations in the motor starter market have introduced products with advanced features like overload protection, thermal monitoring, and programmable settings, boosting reliability and performance. Manufacturers are broadening their product lines to encompass motor starters tailored to various voltage levels, power ratings, and industry-specific needs.
• The motor starter market is fiercely competitive, with many manufacturers competing for a market share. This intense competition often results in pricing pressures and challenges in product differentiation.
• Macroeconomic trends, particularly robust economic growth in emerging markets, fuel the demand for motor starters in the manufacturing and construction sectors. Additionally, tightening regulations on energy efficiency and environmental sustainability are influencing market dynamics. Nevertheless, the market is poised for continued growth.

Motor Starter Market Trends

The Manufacturing Sector is Expected to Drive the Market's Growth

Motor Starter Industry Segmentation

A motor starter is an electrical device designed to start, control, and stop an electric motor safely. It regulates the initial current to the motor, preventing high inrush currents that can cause damage. In addition to starting the motor, it provides overload protection by automatically stopping the motor if it overheats or experiences other electrical issues.

The study tracks the revenue generated from the sale of motor starters by various manufacturers worldwide. It also tracks the key market parameters, underlying growth influencers, and major manufacturers operating in the industry, which supports the market estimations and growth rates during the forecast period. The study further analyses the overall impact of macroeconomic factors on the market. The report’s scope encompasses market sizing and forecasts for the various market segments.

The motor starter market is segmented by type (direct-on-line starter, stator resistance starter, slip ring starter, auto transformer starter, star delta starter, and soft starter), power rating (up to 5 kW, 5 - 50 kW, above 50 kW), end-user vertical (manufacturing, oil and gas, mining, water and wastewater treatment, automotive, food and beverage, and building and construction), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.