- Developing regions emerge as lucrative markets for harmonic filters
MOUNTAIN VIEW, California, June 12, 2013 /PRNewswire/ -- The use of variable frequency drives create multiple levels of harmonics in the system, which cannot be rectified or cleaned up without a harmonic filter. Growing uptake of these drives in mature markets such as North America gives a huge boost to the overall harmonics filter market. Further, the rampant use of power electronics-based systems highly susceptible to harmonics building accelerates the adoption of harmonics filters.
New analysis from Frost & Sullivan's (http://www.powersupplies.frost.com) Analysis of the Global Harmonic Filters Market research finds the market earned revenue of $570.5 million in 2012 and estimates this to reach $924.5 million in 2019.
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Currently, harmonic filter market growth is driven by commercial market applications and the uptake of active filter technology. End users prefer active filters because they are adaptable and easy to design. While active filters gain momentum in the market, especially in North America, due to their cost and adaptability of benefits, passive filters are prominent mainly in Latin America.
"The harmonic filter market is set to rapidly expand in the developing regions of Asia-Pacific, Latin America and the rest of the world, as infrastructure upgrades are aggressively pursued," said Frost & Sullivan Energy and Environmental Senior Industry Analyst Anu Elizabeth Cherian. "However, manufacturers are aware that economic certainty is a critical factor for the stability of this market."
The slow economic recovery and customers' restrained spending pegged back the market to some extent. Further, the slowdown in infrastructural build-outs in telecommunications and investments made customers cautious about investing in harmonic filters.
"Greater awareness about the need for harmonic filters to enhance power quality will go a long way in encouraging customers to adopt the product," noted Cherian. "These filters allow systems to run more efficiently and enable long-term savings on power."
Analysis of the Global Harmonic Filters Market is part of the Energy and Environment Growth Partnership Service program, which also includes: Analysis of the Global Non-renewable Inverter Market, Asia-Pacific Lithium-Ion Batteries Market, Critical Energy Infrastructure Protection in Europe, and Analysis of the European Inverter Market for Renewable Energy Systems. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Global Harmonic Filters Market
SOURCE Frost & Sullivan