Global Harmonic Filter Market was valued at US$ 765.3Mn in 2017 and is expected to reach US$ 1329.3Mn by 2026, at a CAGR of 7.15%during a forecast period.
Increasing demand for power quality, growing adoption of variable frequency by the end users, rising demand from IT and data centers, government regulations, and awareness regarding the potential damage from harmonic are some of the dominant factors driving the harmonic filter market globally.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Growing usage of harmonic filters in commercial and industry , for instance, variable speed motor drives (VSDs), power converters, light dimmers, fluorescent lamps and have significantly contributed to the growth of harmonic filters market. However, restraining the growth of the global harmonic filter market include high cost, availability of substitute products and lack of consumer awareness about the harmonic suppression.
On the basis of the end-user, the manufacturing segment leading the global market for the harmonic filter. The segment majorly having cement, pharmaceutical, power plants, steel, foundries, and chemical industries. The industrial sector is the main generator of variable speed drives (VSDs) in which manufacturing is a big contributor. Variable speed drives inject harmonics and create a power-quality problem in industrial power-supply distribution.
Based on phase, a three-phase harmonic filter is expected to maintain its dominance in the market during the forecast period. The segment is also expected to grow at an impressive rate in the market in the same period, because of its diversified usages in high-end industrial applications, like manufacturing and metal processing, as well as in commercial applications, such as data and IT center, airport & malls.
In terms of region, North America was the largest harmonic filters market in 2017. The market dominance of North America is attributed to high customer awareness and stringent government regulation in the region. The APAC and South America are two of the fastest growing harmonic filter market and they are expected to witness even healthier growth in upcoming years. The rapid growth in these regions is attributed to development in power generation and distribution in developing economies, such as China and India. Brazil is one of the largest and fastest growing markets of a harmonic filter in the South America region. Italy, Germany, France, and the UK are some of the major harmonic filter markets of Europe.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Harmonic Filter Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Harmonic Filter Market.
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Global Harmonic Filter Market, By Type
• Active Harmonic Filter (AHF)• Passive Harmonic Filter (PHF)o Tuned Passive Harmonic Filtero Detuned Passive Harmonic FilterGlobal Harmonic Filter Market, By Voltage Level
• Low-Voltage Harmonic Filters• Medium-Voltage Harmonic Filters• High-Voltage Harmonic FiltersGlobal Harmonic Filter Market, By End-User
• Industrialo Manufacturingo Metal Processingo Pulp and Papero Automotiveo Oil and Gaso Others• Commercial• ResidentialGlobal Harmonic Filter Market, By Phase
• Single-Phase Harmonic Filter• Three-Phase Harmonic FilterGlobal Harmonic Filter Market, by Region
• North America• Europe• Asia Pacific• Middle East and Africa• South AmericaKey Players operating in Global Harmonic Filter Market
• ABB Ltd.• Schneider Electric Se• Eaton Corporation PLC• Schaffner Holding AG• Siemens AG• CG Power and Industrial Solutions Limited (CG)• TDK Corporation• Larsen & Toubro Limited (L&T)• Arteche• AVX Corporation• Mte Corporation• Comsys Ab• Enspec Power Ltd• Mirus International Inc.• LPI-NZ Ltd• Mesta Electronic Inc.• Reo AG• Baron Power Ltd• TCI, LLC• Danfoss A/S• Sinexcel Electric Co., Ltd• LPI-NZ Ltd• Clariant Power System Ltd.• Inphase Power Technologies Private Limited• Rem Electromach Pvt. Ltd.
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