Harmonic Filter Market is Projected to Grow at a Healthy Rate Over the Next Five Years and Reach US$ 1.1 Billion in 2023, Says a New Report Published by Stratview Research
DETROIT, October 4, 2018 /PRNewswire/ --
Stratview Research announces the launch of a new research report on Harmonic Filter Market by Type (Active Harmonic Filter and Passive Harmonic Filter), by Voltage Level Type (Low-Voltage Harmonic Filter, Medium-Voltage Harmonic Filter, and High-Voltage Harmonic Filter), by Phase Type (Single-Phase Harmonic Filter and Three-Phase Harmonic Filter), by End-User Type (Manufacturing, Metal Processing, Pulp & Paper, Data & IT Center, Oil & Gas, and Others), and by Region (North America, Europe, Asia-Pacific, and RoW) Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
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This report, from Stratview Research, studies the harmonic filter market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Harmonic Filter Market: Highlights from the Study
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 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 for mitigating harmonic distortions.
As per Stratview Research, 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 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.
Based on the filter type, 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 in the market, owing to its superior harmonic elimination factor as it doesn't get easily overloaded even if reaches its limit.
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 in 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 center, malls, and airports.
Based on the end-user type, the manufacturing segment is likely to remain the most dominant end-user type in the market during the forecast period. The segment majorly includes cement, pharmaceutical, power plants, steel, foundries, and chemical industries. 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.
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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 in the same period, driven by China, India, and Japan.
Some of the key companies supplying harmonic filters are ABB Ltd., Schneider Electric SA, Eaton Corporation Plc, Danfoss Group, Schaffner Holding AG, Siemens AG, TDK Corporation, AVX Corporation, Comsys AB, and TCI, LLC. Advancement in harmonic filters and regional expansion are some of the key strategies adopted by the major players in order to quickly gain market share.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
This report studies the global harmonic filter market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Harmonic Filter Market, By Filter Type
- Active Harmonic Filter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Passive Harmonic Filter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Harmonic Filter Market, By Voltage Level Type
- Low-Voltage Harmonic Filter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Medium-Voltage Harmonic Filter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- High-Voltage Harmonic Filter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Harmonic Filter Market, By Phase Type
- Single-Phase Harmonic Filter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Three-Phase Harmonic Filter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Harmonic Filter Market, By End-user Type
- Manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Metal Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Paper & Pulp (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Data & IT Center (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Harmonic Filter Market, By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: France, Germany, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Latin America, the Middle East, and Others)
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