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    Harmonic Filter Market Analysis | 2018-2023

    Harmonic Filter Market Analysis | 2018-2023
    Report code - SRCE111 Published On : Oct,2018 No. of Pages: 234
    Harmonic Filter Market Size, Share, Trend, Forecast & Industry Analysis: 2018-202 See more...

    Market Insights

    The Harmonic Filter Market is projected to grow at a healthy CAGR of 6.4% over the next five years to reach an estimated value of US$ 1,059.1 million in 2023. 

    Harmonic-Filter-Market-Forecast

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    What is a harmonic filter?

    A harmonic filter is a device that mitigates harmonics to tolerable levels. Heavy electric machines generate huge non-linear loads which create a lot of harmonics in the electrical power system. Harmonics are periodic, sinusoidal, and integer multiples of the fundamental frequency (50Hz or 60Hz), current, or voltage components, present in the non-sinusoidal waveform. Non-linear loads are the root cause of the generation of harmonics.

    Heavy industrial applications, such as arc furnaces, large variable frequency drives (VFDs), and heavy rectifiers for electrolytic refining, generate a lot of harmonics due to significant non-linear loads. A harmonic filter is the most suitable component that safeguards electronics and improves the power quality factor. Nowadays, apart from industrial, various commercial applications, such as data & IT centers, hospitals, and commercial complexes, are also creating a huge concern about mitigating harmonic distortions.

    Market Drivers

    The key factors propelling the growth of harmonic filters are listed below.

    • Increasing use of power electronics that operate through electronic switching.

    • Increasing levels of harmonic distortions of voltage and current waveforms in power systems.

    • Increasing usage of variable frequency drives (VFDs).

    • Rising demand from the data centers and IT industries.

    • An increasing number of metal arc furnaces worldwide.

    • Increasing concern for potential damage from power frequency variations.

    • Increasing use of sensitive electronics in the industrial automation process.

    Segments Analysis

    Harmonic-Filter-Market-Dominant-Segments

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    By Filter Type

    The market is segmented as passive harmonic filter and active harmonic filter. Passive harmonic filter is likely to remain the most dominant filter type in the market during the forecast period. Passive filters are most suitable for constant loads, as they eliminate or bypass lower-order fixed harmonics of current or voltage by tuning passive filters at the resonance frequency.

    However, the active harmonic filter is likely to be the fastest-growing filter type segment of the market, owing to its superior harmonic elimination factor as it doesn’t get easily overloaded even if reaches its limit.

    By Voltage Level Type

    The harmonic filters market is segmented into low-voltage, medium-voltage, and high-voltage harmonic filters. Low-voltage harmonic filter is projected to remain the largest segment of the market during the forecast period. Whereas, medium-voltage harmonic filter, another considerable segment, is likely to grow at an impressive rate in the market during the same period.

    By Type of Phase

    The market is segmented into single-phase harmonic filters and three-phase harmonic filters. Three-phase harmonic filter is projected to maintain its dominance in the market over the next five years. The segment is also likely to grow at an impressive rate in the market during the same period, owing to its diversified usage in high-end industrial applications, such as manufacturing and metal processing, as well as in commercial applications, such as data and IT centers, malls, and airports.

    By End-User Type

    The market is classified as manufacturing, metal processing, paper & pulp, data & IT centers, oil & gas, and others. The manufacturing segment is likely to remain the most dominant end-user type in the market during the forecast period. The manufacturing segment majorly includes cement, pharmaceutical, power plants, steel, foundries, and chemical industries.

    The industrial sector is the major generator of variable speed drives (VSDs) to which manufacturing is a big contributor. VSDs inject harmonics and create a power-quality problem in industrial power supply distribution.

    Regional Insights

    In terms of regions, North America is projected to remain the largest harmonic filter market during the forecast period. The USA is the growth engine of the North American market, driven by the presence of major players in harmonic filters as well as end-use industries. Asia-Pacific is likely to be the fastest-growing harmonic filter market during the forecast period, driven by China, India, and Japan.

    Key Players

    The market is highly populated with the presence of several local, regional, and global players. The supply chain of this market comprises raw material suppliers, component manufacturers, harmonic filter manufacturers, distributors, and end users.

    The following are the key players in the harmonic filters market (arranged alphabetically).

    • ABB Ltd.,
    • AVX Corporation, Comsys AB,
    • Danfoss Group,
    • Eaton Corporation Plc,
    • Schaffner Holding AG,
    • Schneider Electric SA,
    • Siemens AG,
    • TCI, LLC,
    • TDK Corporation

    Note: The above list does not necessarily include all the top players in the market.

    Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Harmonic Filter Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Who are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Research Methodology

    For calculating the market size, our analysts follow either the Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage a multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data.

    More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The harmonic filter market is expected to grow at 6.4% CAGR during 2018-2023.

    ABB Ltd., Schneider Electric SA, Eaton Corporation Plc, Danfoss Group, Schaffner Holding AG, Siemens AG, TDK Corporation, AVX Corporation, Comsys AB, and TCI, LLC. are among the key players in the market.

    The Harmonic Filter Market is projected to reach an estimated value of US$ 1,059.1 million by 2023.

    In terms of regions, North America is projected to remain the largest market during the forecast period.

    The manufacturing segment is expected to remain dominant in the market in the coming years.

    Passive harmonic filter is expected to remain dominant in the market during the next five years.