Enclosed Motor Starter Market Competitive Landscape 2024-2033 – Major Players and Strategies

Overview and Scope

The enclosed motor starter market consists of sales of event manual starters, magnetic motor starters, rotor resistance starters, and direct-on-line starters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast

The enclosed motor starter market size has grown strongly in recent years. It will grow from $1.66 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increased demand for electric vehicles, strict global regulations on energy consumption, growth in automation and use of electric motors in manufacturing processes, expansion of wind and solar power projects requiring efficient generators, increased use of electric motors.

The enclosed motor starter market size is expected to see strong growth in the next few years. It will grow to $2.22 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to continued growth in the EV market, development of new alloys and composites, growing emphasis on reducing carbon footprints, continued growth in renewable energy installations, urbanization in developing economies, and greater investments in research and development. Major trends in the forecast period include increased use of high-performance materials, trend towards smaller, lighter motor designs to improve performance in automotive and portable applications, growth in smart motors with embedded sensors and IoT connectivity for real-time monitoring and optimization, use of advanced manufacturing processes such as laser cutting and additive manufacturing, rise in demand for customized motor laminations tailored to specific applications and performance requirements.

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Segmentation & Regional Insights

The enclosed motor starter market covered in this report is segmented –

1) By Type: Metal Shell, Plastic Shell
2) By Power Source: Alternate Current, Direct Current
3) By Application: Commercial, Industrial
4) By Sales Channel: Direct Sales, Distributors
5) By End User: Automotive Industry, Oil And Gas, Power Plants, Manufacturing Units

North America was the largest region in the enclosed motor starter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enclosed motor starter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rise in industrial automation is expected to propel the growth of the enclosed motor starter market going forward. Industrial automation refers to using digital logical programming and mechanized equipment to operate machines and minimize the need for human intervention in decision-making and manual commands. The rise in industrial automation is due to technological advancements, increased emphasis on safety and compliance, and rising demand for real-time data analysis. Enclosed motor starters aid industrial automation by providing reliable and protected control of motors, enhancing operational efficiency and safety. For instance, in October 2022, according to a report published by the International Federation of Robotics, a Germany-based professional non-governmental organization, factories worldwide saw the deployment of 517,385 new industrial robots, a significant increase from the approximately 39,400 new industrial robots recorded in 2020. Therefore, the rise in industrial automation will drive the enclosed motor starter market.

Key Industry Players

Major companies operating in the enclosed motor starter market are Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd, Eaton Corporation, Nidec Motor Corporation, Danfoss Inc., Rockwell Automation Inc., Fuji Electric Co. Ltd., WEG S.A., Hubbell Incorporated, Yaskawa Electric Corporation, SEW-EURODRIVE GmbH & Co KG, Franklin Electric Co. Inc., Leviton Manufacturing Co. Inc., Baldor Electric Company, Benshaw Inc., Toshiba International Corporation, C3 Controls Company Inc., Sprecher + Schuh AG, Springer Controls Company Inc., MCI Control Solutions LLC, Allied Power and Control Inc., LS Industrial Systems Co. Ltd.

The enclosed motor starter market report table of contents includes:

1. Executive Summary
2. Enclosed Motor Starter Market Characteristics
3. Enclosed Motor Starter Market Trends And Strategies
4. Enclosed Motor Starter Market – Macro Economic Scenario
5. Global Enclosed Motor Starter Market Size and Growth
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32. Global Enclosed Motor Starter Market Competitive Benchmarking
33. Global Enclosed Motor Starter Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Enclosed Motor Starter Market
35. Enclosed Motor Starter Market Future Outlook and Potential Analysis
36. Appendix