Harmonic Filters Market: Lucrative Opportunites across Globe
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Rising demand for power quality across different verticals such as industrial, automotives, IT and data center, and oil and gas among others is the major factor driving the market in India. In addition, increasing adoption of variable frequency drives generating harmonics in industrial as well as commercial applications is expected to support the growth of harmonic filters. In spite of these growth factors, lack of awareness, high costs of harmonic filters, and availability of substitutes have collectively inhibited the growth of harmonic filters market in India. However, escalating demand for ensuring optimum power quality in IT and data center applications offer potential opportunity for the growth. In addition, government regulations and penalties imposed by utilities are expected to increase adoption of harmonic filters in India.
In 2012, passive harmonic filters were the largest contributors, accounting for over 3/4th of the total harmonic filters market in India. Although passive harmonic filters are expected to account for majority of market share over the forecast period, active harmonic filters are expected to show maximum growth. The swift growth can be attributed to growing awareness about returns and benefits offered by active filters in terms of harmonic mitigation and voltage stability over passive harmonic filters. Currently, low voltage harmonic filters account for majority of market share. However, medium and high voltage harmonic filters are expected to outpace low harmonic filters as their use in the industrial segment is expected to increase over the forecast period. In terms of end-use, industrial segment was the largest segment in 2012 accounting for over 1/3rd of the total India harmonic filters market. IT and data center segment is expected to exhibit fastest growth over the forecast period. The growth can be attributed to growing need for ensuring power quality, leading to increased use of harmonic filters in high end machine, UPS, routers, servers, and HVAC systems.
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