Market Size of Hazardous Location Motor Starters Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.25 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hazardous Location Motor Starters Market Analysis
The hazardous location motor starters market is expected to register a CAGR of 5.25% over the forecast period (2021-2026). Major offshore oil and gas developments, new oil discoveries, coupled with an increasing focus on deepwater drilling activities and rising expenditures in the water and wastewater industry, are the major opportunities for the market to grow in the future.
- Due to technological advancements, the need for integrated servo and brushless explosion-proof motors has increased, due to the growing robotic and automation technologies in industries. Majority of these robotics and automation activities are carried out in potentially explosive atmospheres, which are driving the market.
- Growing demand for instruments used for protection against thermal overload is driving the market as instantaneous over-current is usually the result of fault conditions. Bimetallic overload relay and time overcurrent relay are the motor protection relay used in high voltage area and provide various features, such as short circuit protection, locked rotor protection, etc.
- The major restraints faced by the market are related to the manufacturing of starters as they cannot withstand the most unlikely of weather conditions and corrosive environments, which is a challenge in the market.
