Low Harmonic Drives Market is Estimated to Grow at the Highest Growth Rate till 2018-2026
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Simplicity of deployment and high level of harmonic reduction over multi pulse solutions is expected to garner high adoption rates
Industry participants that provide these solutions provide factory tested integrated solutions that do not require additional hardware or costs, which enhances the simplicity of installations. Moreover, these are compact and do not require additional power wiring and contribute to significant space savings in the space where they are installed. These systems do not require additional dedicated transformers and are featured with low losses, unity power factor, robust performance, high overall efficiency. These factors are expected to provide high traction to the low harmonic drives market over the forecast period.
Growing demand for efficient power utilization and reduce the losses with the increasing energy supply demands is anticipated to provide solid growth prospects to the industry growth
Requirement to reduce the electrical power consumption costs, organizations and industry participants are increasingly investing in efficient industrial products and equipment that different motors, pumps, compressors, and fans. These requirements to limit the consumption without compromising the energy efficiency are expected to present considerable growth prospects for the low harmonic drive market. Furthermore, requirements to meet the distinct regional stringent regulatory compliances relating to efficient power consumptions will provide the traction to the industry growth. For instance, National People's Congress (NPC) the 12-5 Plan in China, EPA Power Sector Regulations in U.S. and Electricity Industry Act 2010 in New Zealand are among the few directives that are in place to regulate the electricity consumption. However, high switching costs for end users is expected to be the only challenge that will negatively impact to overall adoption rates over the forecast period.
Oil & Gas end use industry segment dominated the overall low harmonic drive market end use in 2016
Annexation of oil exploration activities such as shale related and offshore explorations are expected to garner high utilizations over the next few years. Moreover, increasing focus on generation of renewable energy will present considerable growth prospects for the industry participants over the long run.
Global Key Players:
Chief players in the low harmonic drive market include ABB, Danfoss, Eaton, Rockwell and Schneider Electric. Industry presence is moderately consolidated with several regional players competing with the multinational players. Participants are expected to adopt M&A, and innovative product launches for the propagation of their market shares over the next few years. For instance, in July 2017, Schneider Electric introduced Altivar ATV980 & ATV680 Drives which was featured as the world’s first three level low harmonic drive.
Low Harmonic Drives Market Taxonomy
On the basis of product type, the global low harmonic drives market is classified into:
• Low voltage drives
• Medium voltage drives
On the basis of components, the global low harmonic drives market is classified into:
• Input section with breakers
• Active supply unit with line filters
• Control unit
• Motor inverter
On the basis of end use industries, the global low harmonic drives market is classified into:
• Oil & Gas
• Food & beverage
• Water and wastewater treatment
• Pulp & Paper
• Others (Pumps, fans, compressors and conveyors)
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