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Harmonic Filter Market to Reach US$ 1,059.1 million in 2023

10-09-2018 08:28 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

Harmonic Filter Market to Reach US$ 1,059.1 million in 2023

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. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Click here to read the detailed description and TOC: https://www.stratviewresearch.com/toc/385/Harmonic-Filter-Market.html

The Global Harmonic Filter Market: Highlights
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.
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.
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.
Based on the phase type, the market is segmented as single-phase harmonic filter and three-phase harmonic filter. 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 during 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 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.
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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 during the forecast period, driven by China, India, and Japan.
The supply chain of this market comprises raw material suppliers, component manufacturers, harmonic filter manufacturers, distributors, and end users. 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 into 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, New product launches, etc.
Attractive market segments and associated growth opportunities
Emerging trends
Strategic growth opportunities for the existing and new players
Key success factors
The global harmonic filter market is segmented into the following categories.
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)

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.

Category: Construction & Equipment
https://www.stratviewresearch.com/market/report/Construction-Equipment.html

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life

Stratview Research
Crystal Tower, Raipur - 492001
Phone No. +1-313-307-4176
Email :- sales@stratviewresearch.com

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