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High Growth & Smooth Sailing of Harmonic Filter Market, a US$ 1,059.1 million Opportunity

This report, from Stratview Research, studies the global harmonic filter market over the trend period from 2012 to 2017 and the forecast period from 2018 to 2023.
Published 26 June 2019
The Cutting-Edge Stratview Insights:
 
Stratview Research prognosticates the market to grow at a healthy CAGR over the next five years and expects the market to cross over of US$ 1,059.1 million mark by 2023.
The estimates are a result of market analysis over a period of 2012-17, Stratview Research goes to the depth of the issues shaping the market and estimates the most probable future growth rate for the Harmonic Filter Market during the period 2018-23.
 
Identifying the Factors & Avenues of Growth
 
Tending to the most frequent questions and problems that consume the psyches of business visionaries and leaders, the new report of "Stratview Research" on the Harmonic Filter Market responds to all the significant inquiries.
 
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 nonsinusoidal waveform. Non-linear loads are the root cause for 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. Harmonic filter is the most suitable component that safeguards electronics and improves 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 of mitigating harmonic distortions.
 
The global harmonic filter market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 1,059.1 million in 2023. Increasing use of power electronics that basically operates 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, increasing number of metal arc furnaces worldwide, increasing concern for potential damage from power frequency variations, and increasing use of sensitive electronics in industrial automation process are some of the factors burgeoning the growth of harmonic filters worldwide.
 
 
Unravelling the Critical Segments
 
The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives a better understanding of the market.
                It would mean a lot understand with clarity that the market has various parts and insights on them might be critical to many players.
                The market of Harmonic Filter has been divided into categories such as by Filter Type, Voltage Level Type, Phase Type, By End User Type, By Region. Insights on each segment can be of critical importance to any player.
Each segmented view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
  • Which are the best performing segments of the market?
  • Which is the most dominant region?
  • Which material is the most promising?
  • Who are the movers and shakers of the market?
  • What are the regional growth hotspots?
  • What are the segmental growth forecasts?
 
To get the feel of how our best in class, cutting-edge market research report feels, request a sample
 
 
 
ABB Ltd. at the Helm
 
The top 5 players are ABB Ltd., AVX Corporation, Comsys AB, The Danfoss Group, Eaton Corporation Plc.
Other important firms are Schaffner Holding AG., Schneider Electric SE, Siemens AG, TCI, LLC, TDK Corporation.
 
Emerging Trends:
 
Increasing Demands of Passive harmonic filter
 
The market is segmented based on the filter type 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 best 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, active harmonic filter is likely to be the faster-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.
 
Low-voltage harmonic filter to Remain the Dominant
 
Based on the voltage level type, the market is segmented as low-voltage, medium-voltage, and high-voltage harmonic filter. Low-voltage harmonic filter is projected to remain the largest segment of the market during the forecast period from 2018 to 2023. Whereas, medium-voltage harmonic filter, another considerable segment, is likely to grow at an impressive rate in the market during the same period.
 
Manufacturing Segment to maintain dominance
 
Based on the end-user type, the market is classified as manufacturing, metal processing, paper & pulp, data & IT center, 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) in which manufacturing is a big contributor. VSDs inject harmonics and create a power-quality problem in industrial power-supply distribution.
 
Asia-Pacific to be the Largest Market
 
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 of 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.
 
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