Soft Starter Market Size: Dynamics, Segments, Size and Demand Analysis 2022-2031

The global soft starter market was valued at USD 1672.70 million in 2022, and it is expected to reach a value of USD 2301.00 million by 2031, while registering a CAGR of approximately 6.22% over the forecast period. Soft starters are one of the main start systems used, due to the characteristics to reduce initial current and minimize the mechanical stress on the structure. In some electrical installations by different reasons, due to a bad phase load division, it is possible to identify a voltage unbalanced and, in extreme cases, a great phase dropping.

The Mechanical soft starters include clutches and several types of couplings using a fluid, magnetic forces, or steel shot to transmit torque, similar to other forms of the torque limiter. Electrical soft starters can be any control system that reduces the torque by temporarily reducing the voltage or current input, or a device that temporarily alters how the motor is connected in the electric circuit.

– Demand for industrial pumps is increasing in several end-use industries dealing with water, chemicals, petroleum, wastewater, oil, sludge, slurry or food, due to their resistivity towards different hazardous chemicals and durability. The demand for industrial pumps is further propelled with increased deliverable pressure pertaining to time.�??

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Key Market Trends

Oil and Gas Industry to Drive the Market Growth

– Soft starter technology provides significant benefits for the pump, compressor, blower/fan, and centrifuge applications in the oil and gas offshore and onshore industry. The reduced start current minimizes stress on the electrical supply, particularly useful for remote applications, such as offshore oil rigs or isolated pumping stations.
– In the oil and gas upstream sector, the EPC market has primarily driven by the onshore segment, mainly due to lower investment requirement, lesser complexity, easier access to sites, and lower risk, compared to the offshore segment.
– According to IEA, the global demand for natural gas is expected to witness significant growth with additional consumption of 370 billion cubic meters (bcm) by 2022, up from 3,630 bcm in 2016, representing a growth of 1.6% a year between 2016 and 2022. The significant investment in the oil and gas sector is anticipated to provide the necessary demand for soft starter, thus augmenting the market growth.
– Besides, the increasing number of oil and gas projects in various countries such as the United States, Canada with abundant oil reserves, and oil sands resources could most likely provide robust growth opportunities for the market during the forecast period. The United States is one of the largest producers of natural gas and crude oil, accounting for around 14.1% and 20.0% of the global production, respectively, in 2019.
– Moreover, pipeline construction projects such as Jupiter Pipeline in Texas, Roanoke Expansion Project by Kinder Morgan, are destined to be completed by the end of 2020. The initiation of more such projects is expected to create a considerable demand for soft starters in the US over the next few years.

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