Global Harmonic Filter Market Is Driven By Rising Adoption Of Variable Frequency Drives

Global Harmonic Filter Market Report, published by Variant Market Research, forecast that the global market was valued at $692 million in 2016 and expected to reach $1,212 million by 2024; growing at a fastest CAGR of 6.5% from 2016 to 2024.

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Harmonics are produced in an electrical power system due to the existence of non-linear loads such as drives in the system. Harmonic filters, the equipment which are used to suppress the consequence of harmonics in an electrical system. These harmonic filters support in controlling constant harmonic alteration in electronic appliances. Harmonic filters are used in several application areas such as, industrial, automotive, data center & IT, water treatment, and oil & gas.

Development of power sector to drive the growth of global harmonic filter market

Major factors driving the growth of the global harmonic filter market are rising adoption of variable frequency drives, development of power sector, strict government rules relating to power quality & reliability, and increasing demand for high power quality in several industries such as railways, IT, aircraft, medical, automobile, and others. Though, high price of harmonic filter and availability of alternatives in the market may hamper the growth of the market in forecasted period. Furthermore, increasing demand from IT and data centers would provide various opportunities for the growth of the market in the future.

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Market Segmentation

The global harmonic filter market has been bifurcated into type, voltage level, and end user, and geography. The type segment includes active harmonic filters and passive harmonic filters. The passive harmonic filter segment is further classified as tuned passive harmonic filters and de-tuned passive harmonic filters. The voltage level segment contains high voltage harmonic filters, medium voltage harmonic filters, and low voltage harmonic filters. On the basis of end user, the market is classified as IT & data centers, industrial, oil & gas, automotive, and others. By geography, the market is bifurcated into North America, Europe, Asia-Pacific and Rest of the World (RoW).

Passive harmonic filters accounted for the largest market share in the type segment

In 2016, passive harmonic filters held the major market share in the type segment and are expected to continue its dominance during the forecast period 2016 – 2024 owing to its low price in comparison to active filters.
Industrial sector accounted for the largest market share in the end user segment

In 2016, industrial held the major market share in the end user segment and are expected to continue its dominance during the forecast period 2016 – 2024 driven by rising demand from pulp & paper industry, metal processing industry, and manufacturing industry.

Asia-Pacific is anticipated to grow at a fastest CAGR over the forecast period
Asia-Pacific is expected to attain the fastest CAGR of 7% during the forecast period 2016 – 2024, driven by rising demand for harmonic filters from emerging economies such as China, to ensure better power quality. Asia-Pacific held the major market share of 37.8% in 2016, due to economic growth in countries such as Japan, China, and India which have improved the demand from several industries such as IT, automotive, and oil & gas industries. Europe held the second major market share.

Competitive Landscape

The major companies operating in the global harmonic filter market comprises Baron Power Ltd., ABB Ltd., Emerson Electric Co., Crompton Greaves Ltd., Schneider Electric SE, Schaffner Holding AG, MTE Corp., Eaton Corp. Plc., Comsys AB, and TDK Corp., among others.

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Scope of Harmonic Filter Market

Filter Type Segments
• Active Harmonic Filters
• Passive Harmonic Filters
o Tuned Passive Harmonic Filers
o De-Tuned Passive Harmonic Filters

Voltage Level Type Segments
• Low Voltage Harmonic Filters
• Medium Voltage Harmonic Filters
• High Voltage Harmonic Filters

End User Segments
• Industrial
• IT & Data Centres
• Automotive
• Oil & Gas
• Others

Geographical Segments
• North America
o US
o Others

• Europe
o Germany
o UK
o Others

• Asia-Pacific
o China
o India
o Japan
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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