Latin America Hazardous Location Motor Starters Market

Latin America Hazardous Location Motor Starters Market Analysis

The Latin America Hazardous Location Motor Starters Market is expected to register a CAGR of 2.25% during the forecast period.

• The motor starters control the heavy starting currents, and also, this equipment protects the machines from voltages fluctuations. The requirement to reduce power consumption and increased motor efficiency is expected to propel the growth of the hazardous location motor starters market.
• 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.
• Explosion-proof motors, which use automation and robotic technologies, are dominating the motors starters market. The demand for hazardous location motor starters is increasing due to their rising usage across different industries such as Oil & Gas, Chemicals, Mining, Marine, and Waste Water.
• The COVID-19 pandemic impacted Latin America's supply and demand of hazardous location motor starters market. With the improper supply/collection of the raw materials in the region, manufacturers halted the production of these motors starters due to restrictions in lockdown. As a result of these consequences, the market experienced a downfall in growth.

Latin America Hazardous Location Motor Starters Market Trends

Brazil to hold Significant Share

• In Latin America, Brazil is the preferred destination for oil and gas investments(with China being a significant investor). So, with the rapid evolution of industries in Latin America, there has been a rise in demand for electricity, which ultimately resulted in the growth of the motor starters market.
• Magnetic motor starters drive the short circuit and overload protection of heavy machinery. So, the increase in demand for magnetic motor starters that operate under low voltages for protection is boosting the market growth.
• Schneider Electric has acquired DC Systems B.V. to advance innovations in electrical distribution. This acquisition competences with Schneider Electric's expertise in providing sustainable energy infrastructures.
• Due to many oil & gas projects in Mexico, Latin America, which has a large pool of oil & gas reserves, is expected to show substantial growth during the mentioned forecast period for the hazardous location motor starters market.

Coal and Oil Refineries production to Drive the Market Growth

• Brazil, Mexico, and Venezuela are mainly responsible for the region's increase in oil production capacity and contributed to the overplus market growth for the motor starters market. They have many vital developments on the production side.
• Low voltage motor soft starter operating under low and medium voltage is witnessing a significant market share in process industries such as power generation, chemical & petrochemicals, cement, water & wastewater, paper & pulp, and oil & gas, among others. So, with rising demand for oil and gas, water, and wastewater projects and also the increasing demand for pumps is expected to drive the motor soft starter market.
• The petrochemical manufacturers are using the IoT technologies to connect the motor starters and smart devices in heavy machinery to identify the inefficiencies in the manufacturing process and provide information on the working condition of the machinery if they are encountered any failure to achieve the optimum production levels.
• The hazardous location motor soft starters are widely used in pumps that have applications in process industries such as power generation, water & wastewater, paper & pulp, chemical & petrochemicals, cement, oil & gas, among others. The increased investments in water & wastewater projects and demand for oil, the two significant end-users for pump applications, are expected to drive the growth of the motor soft starter market.

Latin America Hazardous Location Motor Starters Industry Overview

The Latin American hazardous location motor starters market is highly fragmented. The significant players in the market are Schneider Electric, ABB, Eaton, General Electric, and Rockwell Automation, Inc.

• January 2022- Franklin Electric acquired Groundwater Distribution company. The acquisition boosts the overall competency to meet the tough water demands of Latin America and also offers solutions of groundwater pumping systems for submersible motors and submersible water pumps, as the usage of clean water unlocks the doors for motor starters market growth.
• November 2021 - The acquisition of GE Industrial Solutions enhanced the ABB Electrification Services Offerings. Earlier, ABB'S Service had fewer than 30 field engineers present for low- and medium-voltage power distribution systems. GE's offering services are extensive, with more than 250 field engineers. In a way, this acquisition scaled both the companies in innovating the power delivery equipment operating under low and medium voltages with the advanced technologies.

Latin America Hazardous Location Motor Starters Market Leaders

Latin America Hazardous Location Motor Starters Market News

• October 2021- Rexnord PMC merged with Regal, creating Regal Rexnord Corporation. This merger leverages the manufacturing facilities in engineering, power transmission solutions, high-efficiency motors, and systems.
• July 2021 - For the Low Voltage motors, the EU Ecodesign Regulation addressed this by establishing and enforcing International Efficiency (IE) classes defined by the International Electrotechnical Commission (IEC). The commission set ultra-premium ratings as IE5 and IE3 as the minimum standard, including motors used with VSDs (Variable Speed Drives). The company ABB has been following these guidelines in recent developments of its products.