Global harmonic filter market will grow at a CAGR of 7.7% between 2014 and 2020|Transparency Market Research

A recently released report by Transparency Market Research (TMR) forecasts that the global harmonic filter market will grow at a CAGR of 7.7% between 2014 and 2020. TMR, a market intelligence firm based in the U.S., states that the global harmonic filter market will reach a market value of US$1015.1 million by 2020, from US$568.9 million in 2013. The report, titled ‘Harmonic Filter Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020’, is available for sale on the website. According to this market research report, high demand for power quality fuels the market for harmonic filter. Apart from that, widespread adoption of variable frequency drives (VFDs), which promote the uptake of harmonic filters, also drives this market. Fluctuations in voltage or currents lead to harmonics in electrical equipment. Equipment which helps mitigate such issues are known as harmonic filters. These make use of non-linear load. 

 

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Problems in the quality of power are caused by changes in harmonic frequencies in electrical devices. Optimum quality of power calls for complete suppression of harmonics, which is of immense importance. Widespread application of VFD and surging demand for higher power quality is expected to fuel the global harmonic filter market in the years to come. This TMR report states that the global harmonic filter market is segmented on the basis of four key parameters, namely type, voltage level, end use, and geography. On the basis of type, the global harmonic filter market is categorized into passive harmonic filters, active harmonic filters, and harmonic standard. High voltage, medium voltage, and low voltage are the three key segments in the overall harmonic filter market based on voltage level.