The enclosed motor starter market is in line for expansion with USD 1,822.7 million in 2024. Use of enclosed motor starters for renewable energy is helping the market get a jump start over rivals. Heading towards growth, the market is inclined to expand to USD 2,865.9 million by 2034, covering a CAGR of 4.63% through 2034.
Attributes | Key Statistics |
---|---|
Expected Base Year Value (2024) | USD 1,822.7 million |
Anticipated Forecast Value (2034) | USD 2,865.9 million |
Estimated Growth (2024 to 2034) | 4.63% CAGR |
Rise in industrial automation has contributed to innovations in enclosed motor starters for efficient motor control. These starters are essential components in automated manufacturing systems. Accordingly, the requirement for energy-efficient solutions in manufacturing and industrial sectors has led to market growth.
The increasing adoption of renewable energy sources like solar and wind has created a huge demand for motor starters in these systems. With the growing trend of these energy sources, manufacturers are shifting to the production of high-quality and versatile motor starters catering to specific needs, as they are used in the control and protection of motors in these systems.
Development of smart motor control technologies has created new opportunities in various sectors for these motor starters. The growth of the electric vehicle market is one of the key factors accounting for the market growth, as these starters are an integral part of these technologies.
Ongoing research and development in customized enclosed motor starters have also opened new market segments for industry players. The development of wireless motor control technologies for remote monitoring and control, along with the increasing adoption of Industry 4.0 technologies integrated with IoT systems for smart manufacturing and predictive maintenance, contribute to the emerging trends of these motor starters and the rising sales of them.
Against the ongoing growth and development of these motor starters, there are some factors that demote them. Factors like the availability of low-cost alternatives, increasing competition, and the high cost of installation and maintenance. Additionally, a lack of awareness about the benefits of enclosed motor starters among small and medium-sized enterprises is also one of the major factors hindering market growth.
Combination starters allow for the control of both the motor and the load, simplifying the installation process. Thus, the overall cost of the system is reduced. This makes it a top choice for end users, setting a market share of 60.70% for 2024.
Attributes | Details |
---|---|
Product Type | Combination Starters |
Market Share (2024) | 60.70% |
Combination starters are compact and require less space. This makes them ideal for use in applications with limited space. Safety feature of a combination starter in an enclosed motor starter is another factor driving its popularity. They are designed to protect against overloads, short circuits, and other electrical damage. This capability ensures the safety of equipment and the operators. With rising demand for starters with ease of maintenance and versatility, combination starters are expected to capture the market.
Enclosed motor starters provide precise control over the speed and torque of the motor, which is essential for maintaining optimal performance in the industrial sector. Therefore, the industrial sector consumes the maximum number of enclosed motor starters, with a market share of 70.50% for 2024.
Attributes | Details |
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Application | Industrial |
Market Share (2024) | 70.50% |
Industrial sector has a high demand for reliability and durability. This is the reason why motor starters are so popular in this industry. Enclosed motor starters are designed to withstand harsh industrial environments, such as extreme temperatures, dust, and humidity, ensuring long-term reliability and durability. Its ability makes it important in industries like manufacturing, where downtime can result in significant financial losses.
Countries like India, Italy, Spain, Australia, and South Korea are expanding broadly in the enclosed motor starter market.
Countries | CAGR from 2024 to 2034 |
---|---|
India | 5.80% |
Italy | 5.50% |
Spain | 5.30% |
Australia | 5.30% |
South Korea | 5.20% |
India is a prominent player in the market, with a CAGR of 5.80% from 2024 to 2034. The Indian government’s Make in India initiative has encouraged the development of domestic manufacturing capabilities by providing incentives for local production. This has led to a rise in several Indian manufacturers who can cater to the specific needs of the Indian market.
Manufacturers in India have been able to offer affordable products compared to their international counterparts. This has enabled them to capture a larger share of the market, particularly in price-sensitive sectors like agriculture and small-scale industries.
The market in India has become increasingly localized, with domestic players dominating the space and offering customized solutions and after-sales services. This has provided a competitive advantage to Indian manufacturers over foreign players.
Italy has made a significant investment in industrial automation, creating a strong market. Thus, it is set to capture a good piece of market share, recording a CAGR of 5.590% through 2034.
A few key players, including ABB, Schneider Electric, and Siemens, dominate the Italian market. Italy has a large and diverse manufacturing sector that relies heavily on motor starters for its operations. As a result, these market players have been establishing a strong presence in Italy, offering high-quality enclosed motor starters and meeting the specific needs of Italian manufacturers.
Another factor helping market growth in Italy is strong distribution networks and fostering long-term relationships with customers, helping them to maintain market share. The growing demand for these starters in Italy and beyond is well-positioned due to increasing adoption in automation and industrialization.
Spain is a lucrative market in renewable energy, electric vehicles, and industrial automation. This has encouraged strong demand for enclosed starters in Spain. Spain has a large manufacturing sector relying heavily on motor starters for its operations.
Key players, including ABB, Schneider Electric, and Siemens, are contributing to the overall growth of the Spanish market. These companies are well-positioned to capitalize on the growing demand for motor starters in Spain.
Spain’s geographical proximity to Mediterranean countries like Italy, France, Tunisia, etc., which are some of the largest producers of fruits and vegetables in the world, facilitates high-quality and fresh raw materials for fruit processing. This prominence of horticulture has pushed farmers to adopt mechanized horticulture practices, including enclosed motor starters, with a CAGR of 5.30% through 2034. This has facilitated market growth in Spain.
The market in Australia is experiencing an upsurge, with a CAGR of 5.30% from 2024 to 2034.
A major chunk of the population in Australia is involved in agriculture, with more than 90% of production going for export. This has put tremendous pressure on motor starter manufacturers to provide their offerings to agriculturists. Companies like Sprecher + Schuh and Schneider Electric are prominent players in Australia's enclosed motor starter market.
Australia’s various industries have also excelled in many manufacturing units susceptible to automation. By acquiring programming and other high-tech roles related to automation, Australia is contributing to steady growth in the motor starting solution market.
As industries in South Korea continue to modernize and upgrade their facilities, the demand for motor soft starters has grown. These motor starters offer improved reliability and safety features, aligning with the industry’s requirements for efficient and sustainable operations. This contributes to a rise in the market with a CAGR of 5.20% through 2034.
Well-developed industrial sectors, including manufacturing, automotive, electronics, and shipbuilding industries in South Korea, are another crucial factor accounting for its market growth. The growing demand for these reliable starters in sectors like transportation and utilities aids in the expansion of the market. Leading players in South Korea include LS Industrial Systems (LSIS), Hyundai Electric & Energy Systems, S&S Tech Corporation, TAEWON Electric, and KACON Co., Ltd.
Many companies are developing smart motor control systems that can be integrated with IoT systems for real-time monitoring and control. Companies are focusing on providing reliable and efficient motor starters for safety and viability. Some of the companies and their ongoing developments are mentioned below
Companies | Development |
---|---|
ABB Ltd. | focusing on expanding its product portfolio by introducing new enclosed motor starters |
Eaton Corporation | establishing new manufacturing facilities and distribution centers and focusing on developing new enclosed starters that are compatible with Industry 4.0 technologies |
Siemens AG | investing in the development of wireless motor control technologies that can be integrated with IoT systems for remote monitoring and control |
Schneider Electric SE | developing customized enclosed motor starters |
Emerson Electric Co. | establishing new manufacturing facilities |
Recent Advancements
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
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Table 57: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034
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Figure 1: Global Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by Starter Size, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by Application, 2024 to 2034
Figure 4: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 6: Global Market Volume (Units) Analysis by Region, 2019 to 2034
Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 9: Global Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 10: Global Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 11: Global Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 12: Global Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 13: Global Market Value (US$ Million) Analysis by Starter Size, 2019 to 2034
Figure 14: Global Market Volume (Units) Analysis by Starter Size, 2019 to 2034
Figure 15: Global Market Value Share (%) and BPS Analysis by Starter Size, 2024 to 2034
Figure 16: Global Market Y-o-Y Growth (%) Projections by Starter Size, 2024 to 2034
Figure 17: Global Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 18: Global Market Volume (Units) Analysis by Application, 2019 to 2034
Figure 19: Global Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 20: Global Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 21: Global Market Attractiveness by Product Type, 2024 to 2034
Figure 22: Global Market Attractiveness by Starter Size, 2024 to 2034
Figure 23: Global Market Attractiveness by Application, 2024 to 2034
Figure 24: Global Market Attractiveness by Region, 2024 to 2034
Figure 25: North America Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 26: North America Market Value (US$ Million) by Starter Size, 2024 to 2034
Figure 27: North America Market Value (US$ Million) by Application, 2024 to 2034
Figure 28: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 29: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 30: North America Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 31: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 32: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 33: North America Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 34: North America Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 35: North America Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 36: North America Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 37: North America Market Value (US$ Million) Analysis by Starter Size, 2019 to 2034
Figure 38: North America Market Volume (Units) Analysis by Starter Size, 2019 to 2034
Figure 39: North America Market Value Share (%) and BPS Analysis by Starter Size, 2024 to 2034
Figure 40: North America Market Y-o-Y Growth (%) Projections by Starter Size, 2024 to 2034
Figure 41: North America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 42: North America Market Volume (Units) Analysis by Application, 2019 to 2034
Figure 43: North America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 44: North America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 45: North America Market Attractiveness by Product Type, 2024 to 2034
Figure 46: North America Market Attractiveness by Starter Size, 2024 to 2034
Figure 47: North America Market Attractiveness by Application, 2024 to 2034
Figure 48: North America Market Attractiveness by Country, 2024 to 2034
Figure 49: Latin America Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 50: Latin America Market Value (US$ Million) by Starter Size, 2024 to 2034
Figure 51: Latin America Market Value (US$ Million) by Application, 2024 to 2034
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Figure 53: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 54: Latin America Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 55: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 57: Latin America Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 58: Latin America Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 59: Latin America Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 60: Latin America Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 61: Latin America Market Value (US$ Million) Analysis by Starter Size, 2019 to 2034
Figure 62: Latin America Market Volume (Units) Analysis by Starter Size, 2019 to 2034
Figure 63: Latin America Market Value Share (%) and BPS Analysis by Starter Size, 2024 to 2034
Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Starter Size, 2024 to 2034
Figure 65: Latin America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 66: Latin America Market Volume (Units) Analysis by Application, 2019 to 2034
Figure 67: Latin America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 68: Latin America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 69: Latin America Market Attractiveness by Product Type, 2024 to 2034
Figure 70: Latin America Market Attractiveness by Starter Size, 2024 to 2034
Figure 71: Latin America Market Attractiveness by Application, 2024 to 2034
Figure 72: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 73: Western Europe Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 74: Western Europe Market Value (US$ Million) by Starter Size, 2024 to 2034
Figure 75: Western Europe Market Value (US$ Million) by Application, 2024 to 2034
Figure 76: Western Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 77: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 78: Western Europe Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 79: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 80: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 81: Western Europe Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 82: Western Europe Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 83: Western Europe Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 84: Western Europe Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 85: Western Europe Market Value (US$ Million) Analysis by Starter Size, 2019 to 2034
Figure 86: Western Europe Market Volume (Units) Analysis by Starter Size, 2019 to 2034
Figure 87: Western Europe Market Value Share (%) and BPS Analysis by Starter Size, 2024 to 2034
Figure 88: Western Europe Market Y-o-Y Growth (%) Projections by Starter Size, 2024 to 2034
Figure 89: Western Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 90: Western Europe Market Volume (Units) Analysis by Application, 2019 to 2034
Figure 91: Western Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 92: Western Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 93: Western Europe Market Attractiveness by Product Type, 2024 to 2034
Figure 94: Western Europe Market Attractiveness by Starter Size, 2024 to 2034
Figure 95: Western Europe Market Attractiveness by Application, 2024 to 2034
Figure 96: Western Europe Market Attractiveness by Country, 2024 to 2034
Figure 97: Eastern Europe Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 98: Eastern Europe Market Value (US$ Million) by Starter Size, 2024 to 2034
Figure 99: Eastern Europe Market Value (US$ Million) by Application, 2024 to 2034
Figure 100: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 101: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 102: Eastern Europe Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 103: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 104: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 105: Eastern Europe Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 106: Eastern Europe Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 107: Eastern Europe Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 108: Eastern Europe Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 109: Eastern Europe Market Value (US$ Million) Analysis by Starter Size, 2019 to 2034
Figure 110: Eastern Europe Market Volume (Units) Analysis by Starter Size, 2019 to 2034
Figure 111: Eastern Europe Market Value Share (%) and BPS Analysis by Starter Size, 2024 to 2034
Figure 112: Eastern Europe Market Y-o-Y Growth (%) Projections by Starter Size, 2024 to 2034
Figure 113: Eastern Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 114: Eastern Europe Market Volume (Units) Analysis by Application, 2019 to 2034
Figure 115: Eastern Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 116: Eastern Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 117: Eastern Europe Market Attractiveness by Product Type, 2024 to 2034
Figure 118: Eastern Europe Market Attractiveness by Starter Size, 2024 to 2034
Figure 119: Eastern Europe Market Attractiveness by Application, 2024 to 2034
Figure 120: Eastern Europe Market Attractiveness by Country, 2024 to 2034
Figure 121: South Asia and Pacific Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 122: South Asia and Pacific Market Value (US$ Million) by Starter Size, 2024 to 2034
Figure 123: South Asia and Pacific Market Value (US$ Million) by Application, 2024 to 2034
Figure 124: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034
Figure 125: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 126: South Asia and Pacific Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 127: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 128: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 129: South Asia and Pacific Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 130: South Asia and Pacific Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 131: South Asia and Pacific Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 132: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 133: South Asia and Pacific Market Value (US$ Million) Analysis by Starter Size, 2019 to 2034
Figure 134: South Asia and Pacific Market Volume (Units) Analysis by Starter Size, 2019 to 2034
Figure 135: South Asia and Pacific Market Value Share (%) and BPS Analysis by Starter Size, 2024 to 2034
Figure 136: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Starter Size, 2024 to 2034
Figure 137: South Asia and Pacific Market Value (US$ Million) Analysis by Application, 2019 to 2034
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Figure 139: South Asia and Pacific Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 140: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 141: South Asia and Pacific Market Attractiveness by Product Type, 2024 to 2034
Figure 142: South Asia and Pacific Market Attractiveness by Starter Size, 2024 to 2034
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Figure 144: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034
Figure 145: East Asia Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 146: East Asia Market Value (US$ Million) by Starter Size, 2024 to 2034
Figure 147: East Asia Market Value (US$ Million) by Application, 2024 to 2034
Figure 148: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 149: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 150: East Asia Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 151: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 152: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 153: East Asia Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 154: East Asia Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 155: East Asia Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 156: East Asia Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 157: East Asia Market Value (US$ Million) Analysis by Starter Size, 2019 to 2034
Figure 158: East Asia Market Volume (Units) Analysis by Starter Size, 2019 to 2034
Figure 159: East Asia Market Value Share (%) and BPS Analysis by Starter Size, 2024 to 2034
Figure 160: East Asia Market Y-o-Y Growth (%) Projections by Starter Size, 2024 to 2034
Figure 161: East Asia Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 162: East Asia Market Volume (Units) Analysis by Application, 2019 to 2034
Figure 163: East Asia Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 164: East Asia Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 165: East Asia Market Attractiveness by Product Type, 2024 to 2034
Figure 166: East Asia Market Attractiveness by Starter Size, 2024 to 2034
Figure 167: East Asia Market Attractiveness by Application, 2024 to 2034
Figure 168: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 169: Middle East and Africa Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 170: Middle East and Africa Market Value (US$ Million) by Starter Size, 2024 to 2034
Figure 171: Middle East and Africa Market Value (US$ Million) by Application, 2024 to 2034
Figure 172: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034
Figure 173: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 174: Middle East and Africa Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 175: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 176: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 177: Middle East and Africa Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 178: Middle East and Africa Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 179: Middle East and Africa Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 180: Middle East and Africa Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 181: Middle East and Africa Market Value (US$ Million) Analysis by Starter Size, 2019 to 2034
Figure 182: Middle East and Africa Market Volume (Units) Analysis by Starter Size, 2019 to 2034
Figure 183: Middle East and Africa Market Value Share (%) and BPS Analysis by Starter Size, 2024 to 2034
Figure 184: Middle East and Africa Market Y-o-Y Growth (%) Projections by Starter Size, 2024 to 2034
Figure 185: Middle East and Africa Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 186: Middle East and Africa Market Volume (Units) Analysis by Application, 2019 to 2034
Figure 187: Middle East and Africa Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 188: Middle East and Africa Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 189: Middle East and Africa Market Attractiveness by Product Type, 2024 to 2034
Figure 190: Middle East and Africa Market Attractiveness by Starter Size, 2024 to 2034
Figure 191: Middle East and Africa Market Attractiveness by Application, 2024 to 2034
Figure 192: Middle East and Africa Market Attractiveness by Country, 2024 to 2034
The market is set to reach USD 1,822.7 million by 2024.
The market is expected to reach USD 2,865.9 million by 2034.
The market is growing at a CAGR of 4.63% from 2024 to 2034.
Industrial applications top the market share with 70.50% for 2024.
The market in India is expected to progress at a CAGR of 5.80% through 2034.
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