The report, now available on ASDReports, "Combination Starter Market by Type (Reversing & Non-reversing), by Rated Power, by Application, by Industry (Oil & Gas, Water & Wastewater, Infrastructure, Metals & Mining, Food & Beverages & Others) and by Region - Global Forecast and Trends to 2020", The combination starter market is projected to grow from an estimated USD 687.1 Million in 2015 to USD 926.6 Million by 2020, registering a CAGR of 5.19% from 2015 to 2020. The increasing demand for pumps in industries, growing concerns regarding motor control and protection, and increasing infrastructural development in developing regions are driving the global combination starter market.
In this report, the combination starter market has been categorized into two major types: non-reversible and reversible. The demand for non-reversible combination starters is higher than that of reversible combination starters. The former is estimated to account for 79% of the total combination starter market. The former is more widely used, as the vast majority of applications require unidirectional motion from the motors.
The report also segments the combination starter market on the basis of its applications; these include pumps, fans, compressors, conveyors, and other applications. Pumps constitute the largest application market, as the majority of motors employed in industries are used to run pumps. Fans and compressors are also major applications that require combination starters.
In this report, the combination starter market has been analyzed with respect to five regions namely, Asia-Pacific, Europe, North America, South America, and the Middle East & Africa. The combination starter industry is expanding in developing countries, owing to the increasing industrialization and infrastructural development activities. Asia-Pacific and Europe are expected to dominate the market, growing at CAGRs of 5.32% and 5.20% respectively from 2015 to 2020. Growing concerns regarding motor control and protection and the low cost and compact nature of the device are major factors driving the combination starter market.
The figure below depicts the combination starter market on the basis of region for the year 2014.
To provide an in-depth analysis of the competitive landscape, the report includes profiles of some of the leading players in the combination starter market. These include ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), Eaton Corporation (Ireland), and General Electric Company (U.S.). Key players are trying to penetrate developing economies, and are adopting various methods to gain traction in the market.
The report also includes a market share analysis, by revenue, of the top companies. The scope of the report enables market participants to identify high-growth markets and helps in taking key investment decisions. Major players in the combination starter market have been identified using various primary and secondary sources, which include annual reports of top market players and interviews with key opinion leaders such as CEOs, directors, and marketing staff. Based on this research, market shares have been evaluated and validated.
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Source: ASDReports - Market Research
Date: Nov 24, 2015