Global Motor Soft Starter Market- Industry Analysis and forecast 2027
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Global Motor Soft Starter Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at CAGR of 6.5% during forecast period of 2020 to 2027.
Global Motor Soft Starter Market
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Global Motor Soft Starter Market Drivers and Restrains:
A motor soft starter is a device used with AC electrical motors to temporarily decrease the load and torque in the power train and electric current surge of the motor during start-up. This reduces the mechanical stress on the motor and shaft, as well as the electrodynamic stresses on the attached power cables and electrical distribution network, extending the lifespan of the system.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The global motor soft starter market is driven by increased demand for industrial pumps, and adoption of high-efficiency motors. Rising demand for heating, ventilation, and air conditioning (HVAC) applications are also boosting the market demand during the forecast period. However, functional superiority and competitive pricing of variable frequency drives (VFDS) are hampering the market growth at the global level. Investments in non-oil sectors, and increased automation & reliability concerns are likely to create lucrative opportunities in the global Motor Soft Starter market. Growing concerns regarding renewable energy is the key challenge for the stakeholders and key market players.
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