Harmonic Filter Market

Harmonic Filter Market: Overview

• According to Transparency Market Research’s latest research report on the global harmonic filter market for the historical period of 2017–2018 and the forecast period of 2019–2027, the rising demand for harmonic filters for use in various applications is expected to boost the global harmonic filter market during the forecast period
• In terms of revenue, the global harmonic filter market is estimated to reach value of ~US$ 1.5 Bn by 2027, expanding at a CAGR of ~6% during the forecast period

Growing Concerns about Reliable and Efficient Power Supply: A Key Driver

• Demand for power is increasing continuously and the quality and reliability of power are becoming increasingly important
• Harmonics frequencies generated in individual facilities severely affect the transmitted power around a power line. Harmonic frequencies is major cause of power quality problems. In order to eliminate this disturbance, utilities have started imposing severe penalties and, in some cases, they shut down power supply to harmonics defaulters.
• In addition, governments of various countries are taking initiatives for setting a permissible harmonic distortion limit
• Moreover, rise in the demand for modernized power grids and general preference for renewable energy applications are boosting the demand for harmonic filters
• Growing urbanization and increasing population have fueled the demand for power generation, telecommunications, infrastructure, and mass transportation
• These factors are expected to drive the global harmonic filter market during the forecast period

Increasing Demand from IT and Data Centers Offers Opportunities to Harmonic Filter Market

• The global information technology (IT) industry is expanding at a rapid pace and it is propelled by the development of IT infrastructure across the globe
• Growing urbanization has fueled the demand for telecommunications, infrastructure, and mass transportation. With growth of these sectors, leading companies are experiencing requirements in terms of infrastructure development such as high-end machines, routers, servers, as well as commercial space, lighting systems, and centralized air-conditioning systems.
• These systems is a major source of harmonic distortion. Consumer awareness about the mitigation of harmonics in the global IT industry is increasing and large players in the global IT industry are becoming aware of the effect of harmonic distortion on their energy expenditures.
• Thus, the need to minimize the level of harmonic distortion in power for IT and data centers fuels the demand for harmonic filters. Furthermore, growth of the global IT industry offers an opportunity to the global harmonic filter market.
• Thus, rise in spending in the IT industry is expected to support the adoption of high-end machines and equipment with non-linear loads, thereby giving rise to harmonics. Rising demand for ensuring optimum quality of power is expected to fuel the demand for harmonic filters in the IT & data center industry in the near future.

Availability of Substitutes to Hinder Harmonic Filter Market

• Price is one of the critical factors considered for adoption of any equipment, especially in developing economies that have highly price-sensitive consumers
• Harmonic filters are high-cost equipment and hence, their adoption is confined to a limited number of industries across the globe
• Penetration of harmonic filters is high in industries such as IT, automotive, textile, and pulp & paper. However, the adoption in other small-scale industries is sluggish, due to availability of cost-effective substitutes.
• For harmonic mitigation, small-scale industries have adopted cost-effective alternatives such as reactors, transformers, and low-cost filters. Though these alternative systems do not achieve complete harmonic filtering, they are preferred by price-sensitive customers in developing economies.
• Thus, availability of cost-effective substitutes is another major factor hampering the harmonic filter market

Harmonic Filter Market: Competition Landscape

• Detailed profiles of providers of harmonic filters have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
• Key players operating in the global harmonic filter market are 
  • ABB Ltd.
  • Emerson Electric Co., and Schneider Electric SE
  • Danfoss A/S
  • Siemens AG
  • Comsys AB
  • Schaffner Holding AG
  • Crompton Greaves Ltd.
  • Eaton Corp. Plc

Harmonic filter Market: Key Developments

• Key providers of harmonic filters are focusing on the development of new products and technological advancements. Some other key developments in the global harmonic filter market are as follows:
  • In January 2019, Mesta Electronics, Inc. launched a new, third-generation, DPM active harmonic filter, which can be used for high-frequency current sensors to continuously monitor the load current
  • In December 2018, ABB Ltd. introduced a multi-functional power quality and energy storage solution called PQactiF, which consists of active harmonic filters and energy storage solutions
• In the report on the global harmonic filter market, we have discussed individual strategies, followed by company profiles of providers of harmonic filters. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global harmonic filter market.

Flourishing Electronic Industry to Add Extra Stars of Growth to the Harmonic Filters Market

The rising disposable income of a large chunk of the global populace has led to an increase in the sales of electronic appliances. Poor power supply can damage these appliances. To prevent damage, harmonic filters are necessary. The increasing sales of electronic appliances are directly proportional to the demand for the harmonic filters market. Based on these factors, the harmonic filters market will observe substantial growth during the forecast period of 2013-2019.

• The increasing awareness about the damage caused by power frequency variations in heating and electrical appliances will serve as a profitable growth generator. The expanding use of harmonic filters across commercial and industrial sectors will also boost the growth prospects to a considerable extent. These filters are designed for preventing non-linear loads that result in inferior-quality power transmission.
• Industrialization has spread its wings rapidly in almost all regions around the world. The growing influence of urbanization and industrialization around the world may further impact the growth prospects of the harmonic filters market to s certain extent. The rising disposable income and the escalating purchasing power parity of the individuals around the world may serve as prominent growth-generating factors for the harmonic filters market during the assessment period.
• The heightening influence of cloud computing has led to an increase in the demand for power inverters. Similar commercial applications have increased the use of harmonic filters substantially. All these aspects invite extensive growth for the harmonic filters market.
• Increased investments across the consumer electronics industry may invite exceptional growth prospects. All these factors may join the dots of growth across the harmonic filters market during the forecast period of 2013-2019. Subsidies and schemes by the governments of numerous countries in favor of the harmonic filters market will serve as a golden growth opportunity.