Soaring Demand from Different End-use Industries to Propel Market Growth

Harmonic filters are extensively used across a host of sectors, including automotive, oil & gas, information technology, HVAC, mining, and wastewater, among others. At present, as the industrial sector around the world continues to flourish, power systems have come under the radar. Harmonic issues within the power systems across different industries can lead to downtime and inflict heavy damage in both, consumer appliances as well as utility suppliers. End users of harmonic filters are increasingly seeking ways to minimize harmonic pollution despite the existing current and voltage distortion in networks. Companies involved in the current harmonic filter market landscape are investing resources in the development of new solutions that minimize the nonlinear current in customer loads within a power system.

Some of the key parameters that are influenced due to harmonic filters in power systems include distortion, overloads, disturbances, etc. Technological advancements coupled with design improvements in the semiconductor space are expected to trigger significant developments within the harmonic filter market during the forecast period. Companies operating in the harmonic filter market are projected to launch different products in an array of shapes and sizes. As harmonic filters are cost-effective in comparison to series filters, the demand for the same is witnessing significant growth in communication and power applications worldwide. The surge in demand for variable frequency drives and large-scale urbanization across the world are some of the key factors that are expected to influence the growth of the global harmonic filter market during the assessment period. At the back of these factors, the harmonic filter market is expected to reach a value of ~1.5 Bn by the end of 2027.

world harmonic filter market infographic

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Global Urban Development to Augment Market Growth

Economic and urban development across the world is a trend that is expected to have a strong influence on the growth of the harmonic filter market. Due to the rapid development of cities across the world, transportation systems have received a great amount of attention. Multiple countries, particularly in the Asia Pacific region, including China, are investing considerable resources for the development of high-speed railway systems. Moreover, the East Japan Railway Co. launched a new high-speed train model in the spring of 2019. The construction of the Kuala Lumpur-Singapore high-speed railway line was initiated in 2017 and is expected to complete around 2026. These large-scale developments demand high levels of power quality and voltage stability problems and the adoption of harmonic filters, is thus, likely to grow in the near future.

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Integration of Variable Frequency Drives in Industry 4. Expected to Drive Global Market

The dawn of Industry 4.0 has led to a significant transformation in modern-day industries with automation at the helm of all major developments. Variable frequency drives (VFDs) are increasingly being deployed within the Industry 4.0 sphere, particularly in high-demanding power applications. The fast-paced industrialization and urbanization around the world are expected to increase the demand for variable frequency drives. Electrical appliances that have a non-linear load such as personal computers, AC and DC motor drives, and LED lighting display some level of harmonics. Power correction, stability, and apprehensions overpower quality continue to remain key parameters in industrial settings worldwide. As the industrial sector continues to emphasize on energy savings, electrical reliability is another area of concern that continues to gain the attention of participants involved in the industrial sector. Harmonic mitigation has gained ground over the past couple of decades due to which, the demand for harmonic filters is projected to move in the upward trajectory during the forecast period.

The adoption of harmonic filters is expected to grow at a rapid pace, as they reduce distortions in networks with significantly high levels of harmonics. The applicability of passive or active filters primarily depends on voltage levels of different applications. Active harmonic filters are increasingly used for low-voltage applications. Thus, passive harmonic filters are expected to dominate the harmonic filter market during the forecast period, due to high demand for the same from medium to high-voltage applications.

world harmonic filter market segmentation

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Analysts’ Viewpoint

The global harmonic filter market is expected to grow at a steady CAGR of ~6% during the forecast period. Some of the key factors that will propel the growth of the market for harmonic filters in the coming years include increasing focus on industrialization and urbanization, dawn of Industry 4.0, and growing adoption of variable frequency drives. The adoption of harmonic filters is anticipated to remain the highest in low voltage applications followed by medium-voltage applications. The demand for harmonic filters from various end-use industries, including automotive, IT, oil & gas, and industrial, among others, will play an important role in the development of the market for harmonic filters in the upcoming years.  

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.

Harmonic Filter Market – Scope of the Report

A new study on the global harmonic filter market was published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including market drivers, trends, and challenges as well as structure of the global harmonic filter market. TMR’s study offers valuable information of the global harmonic filter market in order to illustrate how growth would discern during the forecast period i.e. 2019–2027.

Key indicators of market growth, which include value chain as well as supply chain analysis and compounded annual growth rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global harmonic filter market during the forecast period.

An extensive analysis of business strategies adopted by leading market players is also featured in TMR’s study on the global harmonic filter market. This can help readers understand principal factors responsible for growth of the global harmonic filter market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global harmonic filter market, which would guide market players in making apt decisions in the near future.

Key Questions Answered in TMR’s Study on Harmonic Filter Market

  • What would be the Y-o-Y growth trend of the global harmonic filter market between 2019 and 2027?
  • What is the influence of the changing trend in technologies on the global harmonic filter market?
  • Would North America continue to be the most profitable regional market for providers of harmonic filters during the forecast period?
  • Which factors would hinder the global harmonic filter market during the forecast period?
  • Which are the leading companies operating in the global harmonic filter market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct comprehensive research on the global harmonic filter market and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.

Secondary research sources referred to by analysts during production of the report on the global harmonic filter market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to the production of TMR’s study on the global harmonic filter market as a primary research source.

These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global harmonic filter market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global harmonic filter market with accuracy. The study also uses a top-down approach to assess the numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects of the global harmonic filter market more reliable and accurate.

Harmonic Filter Market – Segmentation

TMR’s study on the global harmonic filter market segments the market based on type, voltage, end use, and region. Changing trends and other crucial market dynamics associated with these segments of the global harmonic filter market are discussed in detail.

Type

Active

Passive

Tuned Passive

De-tuned Passive

Voltage

Low Voltage

Medium Voltage

High Voltage

End Use

Industrial

IT & Data Centers

Automotive

Oil & Gas 

Others 

Region

North America

Europe

Asia Pacific

Middle East & Africa

South America

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World Harmonic Filter Market

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