Harmonic Filter Industry Global Outlook and Analysis
The report "Global Harmonic Filter Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” added by DecisionDatabases.com to its vast repository provides market insights, facts, historical data, and future projections of the harmonic filter industry. This report provides information in terms of revenue and volume for the study period 2016-2022. Drivers, restraints, and opportunities are also intellectually assessed in the research report.
A harmonic filter is an electrical equipment, used to limit the result of distortions produced in an electrical system. These distortions in electrical equipment are the major reasons behind power quality related problems. The harmonic filter helps in suppressing such distortions to achieve power quality and reliability. With rising adoption of variable frequency drives (VFD) along with increasing significance of power quality, the harmonic filter market is anticipated to grow at a significant rate over the coming years. Recent advancements in semiconductor machinery have supported the positive growth of harmonic filters across the globe by making it a relatively cost-effective and advanced power technology in the current market. However, low consumer awareness, high cost, and availability of alternatives in the market are the major challenges for the manufacturers, which can hinder the market growth of the product in the near future.
The growing popularity of power quality and its maintenance through harmonic repression to achieve minimized power loss and significant energy conservation is likely to augment the market growth of harmonic filter over the forecast period. Surging demand for automation across various commercial and industrial applications and rising need for the efficient electrical system is expected to fuel market demand under the study period. Growing IT industry and government regulations imposed by utilities will further aid the market growth.
The global harmonic filter market has been segmented based on types into active harmonic filters and passive harmonic filters (tuned passive harmonic filters and de-tuned passive harmonic filters). The passive harmonic filter is mainly used for stationary loads of electrical equipment and active harmonic filter is used to reduce the distortions produced by variable loads. The hybrid harmonic filter is the combination of both active and passive harmonic filters. The harmonic filter market has been further segmented based on voltage level into low voltage harmonic filters, medium voltage harmonic filters, and high voltage harmonic filters. Furthermore, the harmonic filter market has been segmented based on end-use into industrial, IT and data centers, automotive, oil & gas and others.
North America is the largest market for harmonic filters and is expected to continue its dominance over the forecast period owing to the high awareness and stringent government penalties in the region. Latin America and Asia-Pacific are two of the fastest growing markets and are projected to witness a substantial growth over the coming years on account of developing power generation and distribution in the emerging economies, particularly in China and India. Brazil is one of the fastest growing markets in Latin America.
The major industry players include ABB Ltd., Baron Power Limited, Comsys AB, Danfoss A/S, Schneider Electric SE, Eaton Corporation Plc, Siemens AG, Crompton Greaves Ltd., Emerson Electric Co., TDK Corporation, Schaffner Holding AG, and MTE Corporation. The harmonic filter market is moderately concentrated with some major players, which contributes to the major part of the revenue share. Therefore, application specific product modification and focus on product development are some of the major strategies adopted by manufacturers across the globe.
In Oct 2015, MTE Corporation, a leading manufacturer of power quality solutions, launched the Matrix® ONE specifically for single-phase harmonic filter.
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