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

Stratview Research has launched a research report on Harmonic Filter Market. The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Harmonic Filter Market from 2018 to 2023.

This 234-pages report is segmented in five ways to provide a 360-degree holistic view. The segments are –
• By Filter Type (Active Harmonic Filter, Passive Harmonic Filter)
• By Voltage Level Type (Low-Voltage Harmonic Filter, Medium-Voltage Harmonic Filter, High-Voltage Harmonic Filter)
• By Phase Type (Single-Phase Harmonic Filter, Three-Phase Harmonic Filter)
• By End-user Type (Manufacturing, Metal Processing, Paper & Pulp, Data & IT Center, Oil & Gas, Others)
• By Region
o North America (Country Analysis: The USA, Canada, and Mexico)
o Europe (Country Analysis: France, Germany, the UK, Spain, Russia, and Rest of Europe)
o Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
o Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Stratview Research has presented the study of 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.
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.

Go through the detailed scope: https://www.stratviewresearch.com/toc/385/Harmonic-Filter-Market.html
Or
Get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/385/Harmonic-Filter-Market.html

Increasing use of power electronics
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 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 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.

Passive harmonic filter is likely to remain the most dominant filter type
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 is projected to remain the largest segment
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.

Three-phase harmonic filter is projected to maintain its dominance in the market
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.

The manufacturing segment is likely to remain the most dominant end-user type
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.

North America to remain 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.

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
• Research Methodology

This report studies the Harmonic Filter Market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
• Extensive secondary research,
• Rigorous primary interviews with more than 15 industry stakeholders across the value chain.
• Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

Click Here for Other Reports from Stratview Research in the Construction & Equipment Industry:
https://www.stratviewresearch.com/market/report/Construction-Equipment.html

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

400 Renaissance Center, Suite 2600, Detroit, Michigan, MI 48243 United States of America

This release was published on openPR.