Harmonic Filter Market Shaping New Trends In Power Quality Management,Comapnies Focuisng On Expansion

Devices that are used to reduce the harmonics in certain equipment are known as harmonic filters. Problems associated with the quality of power is because of harmonic frequencies that tend to occur in most electrical systems. If this problem goes ignored, it can lead to overheating of transformers and conductors, and also the inefficient working of electrical equipment. Excessive harmonics leads to situations such as computer lock-ups, PLC related issues, and even spurious VFD (variable frequency drives) alarms.

The growing use of non-linear loads such as the variable frequency drives that produce harmonics coupled with the increasing need to ensure power quality is boosting the growth of the global harmonic filter market. The growing importance of achieving acceptable levels of power quality is driving the growth of harmonic filters. By maintaining power quality through harmonic suppression, power losses can be extremely minimized and significant energy savings can be achieved. Increasing adoption of variable frequency drives promoting the uptake of harmonic filters. Rise in automation across different industrial and commercial applications and growing demand for electrical efficiency has increased the demand for Variable Frequency Drives (VFD), which is in turn boosting the growth of the harmonic filter market. The conjoint effect of all these drivers is set to boost the growth of the global harmonic filter market from 2016 – 2024.

Escalating demand from IT and data centers are set to offer potential growth opportunities to the global harmonic filters market. Thus, growth in the IT industry spending is expected to support the growth of high end machines and equipments with non-linear loads, giving rise to harmonics. Rising demand for ensuring optimum power quality is expected to fuel the growth of harmonic filters in IT and data center industry. Further, government regulations and penalties imposed by utilities are set to offer lucrative opportunities for the growth of harmonic filters in the near future. For example, in India (Tamil Nadu), government has set the total voltage harmonic distortion limit at 5% and total current harmonic distortion limit at 8%. If a consumer exceeds these harmonic levels, then that person is entitled to pay 15% of his respective tariff as compensation. Owing to the impact of these regulations and penalties, facilities that produce harmonics are installing harmonic filters.

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The future of harmonic filters will be shaped by the trends in power quality management. Leading companies are focusing aggressively on the expansion of their product lines in this field. Schneider Electric has already initiated the development of a wide array of high-quality harmonic filters and power correction devices. In line with this strategy, the firm has developed AccuSine, a high-performance active harmonic filter.

Innovation: A Key Focus Area in the Global Harmonic Filter Market

Besides IT and data centers, the other end users in the global harmonic filter market are food processing, oil and gas, packaging, automotive, and water treatment. The key companies operating in the global harmonic filter market are Schneider Electric, Schaffner Holding AG, Siemens AG, MTE Corporation, Janitza Electronics GMBH, Epcos AG, Emerson Network Power, Eaton Corporation, Danfoss A/S, Crompton Greaves Ltd., Baron Power Ltd., and ABB Ltd. amongst others

MTE Corporation, one of the four main segments of New Jersey based SL Industries Inc., recently launched the High Frequency SineWave Guardian, which is a motor protection filter. It is the very first and the one and only solution for motor protection, which is optimized for motors with high frequencies. The High Frequency SineWave Guardian offers efficiently protects an equipment from the adverse effects of waveforms created by VFDs of high switching frequencies, and also from the harmful impact of PWM (pulse width modulation).

According to TMR, the global market for harmonic filters is likely to grow into an opportunity worth US$1.2 bn by 2024, rising at a CAGR of 6.50% between 2016 and 2024. In 2015, it had attained a valuation of US$697.2 mn worldwide. Currently, passive harmonic filters attract higher demand than active harmonic filters. However, the latter is expected to gain impetus over the next few years.Based on voltage, while low voltage harmonic filters are likely to hold the majority of the market share, medium voltage harmonic filters will register the fastest growth rate over the forecast period.

Asia Pacific emerged the largest regional market for harmonic filters with a share of nearly 38% in 2015. It is likely to grow almost 1.8 times over the forecast period to reach an opportunity worth US$471.6 mn by the end of this term.

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The stiff competition between ABB Ltd., Emerson Electric Co., and Schneider Electric SE characterizes the competitive landscape of the global harmonic filter market, finds Transparency Market Research (TMR). Collectively, these three players account for a share of 41% in this highly concentrated market. As the industrial sector consumes the highest number of these filters at present, ABB Ltd., which supplies harmonic filters to utilities, metal processing, and manufacturing industries, has gained prominence, accounting for 17.7% of the market.

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This release was published on openPR.