Key Takeaways
Key players operating in the soft starter market are Siemens AG, Aucom Electronics Ltd (Benshaw Inc.), Schneider Electric SE, IGEL Electric GmbH, Eaton Corporation PLC, Crompton Greaves Ltd., ABB Ltd., Toshiba Corporation, Rockwell Automation Inc., Fairford Electronics Inc. (Motortronics UK Ltd), and Danfoss Group. The key opportunities in the soft starter include growing demand from industrial segment like oil & gas, mining, cement, food & beverage sectors. Recent advancements like development of soft starters equipped with IoT technology are enabling connectivity with cloud platforms for predictive analysis and remote operations & monitoring.

Market drivers
Growing industrialization and infrastructure development activities: Rapid industrialization and infrastructure development projects across emerging economies are driving the demand for industrial motors, pumps and fans. This is positively impacting the Soft Starter Market Size .
Increasing focus on energy savings: Soft starters help in reducing energy wastage and enhance energy efficiency of connected equipment by slowly ramping up motor voltage and current. This is a major factor spurring their adoption.
Stringent regulations to curb carbon emissions: Strict government regulations regarding emission norms are compelling industries to adopt green technologies like soft starters to reduce their carbon footprint. This acts as a key growth driver.

Current challenges in Soft Starter Market:
The soft starter market is facing challenges due to the high initial cost of installation and maintenance of soft starters. Despite providing various operational and energy efficiency benefits, the high capital expenditure requirement for installing soft starters is restricting their adoption, especially in low-budget projects. Additionally, the complex design of soft starters makes them difficult to operate and maintain. This necessitates regular servicing and repair by skilled technicians, thereby increasing the overall cost of ownership. Moreover, the availability of inexpensive substitute solutions like electromagnetic contactors is hindering the sales of soft starters.

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