Global Harmonic Filter Market Overview :
Global Harmonic Filter Market Report, published by Variant Market Research, forecast that the global market is expected to reach $1,212 million by 2024; growing at a CAGR of 6.5% from 2016 to 2024.Harmonics are generated in an electrical power system due to the presence of non-linear loads such as drives in the system. Harmonic filters are the equipment used to suppress the effect of harmonics in an electrical system. These filters help in controlling continuous harmonic alteration in electronic appliances. Harmonic filter are used in various application areas such as automotive, industrial, data centre & IT, oil & gas, and water treatment. Increased global demand for efficient functioning of industrial facilities coupled with rise in demand for stable appliances show increased harmonic filter market trends.
The global Harmonic Filter Market is majorly driven by increased adoption of variable frequency drives and growth of power sector, rise in demand for power quality in various industries such as, IT, medical, railways, aircraft, and automobile However, high cost of harmonic filter coupled with availability of substitutes in the market may restrain the market growth in the coming years. Escalating demand from IT and data centers, would provide several growth opportunities for the market in the coming years.
The global harmonic filter market is categorized into type, voltage level, end user and geography. By type, the market is segmented into active harmonic filters and passive harmonic filters. The passive harmonic filter segment is sub segmented into tuned passive harmonic filters and de-tuned passive harmonic filters. By voltage level, the market is further divided into low voltage harmonic filters, medium voltage harmonic filters and high voltage harmonic filters. By end user, the market is classified into industrial, IT & data centers, automotive, oil & gas, and others.
Based on geography, the global harmonic filter market has been segmented into North America, Europe, Asia-Pacific and RoW. The U.S. and Others are covered under North America wherein Europe covers Germany, UK, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the harmonic filter market are ABB Ltd., Emerson Electric Co., Schneider Electric SE, Crompton Greaves Ltd., Schaffner Holding AG, Baron Power Ltd.,MTE Corp., Eaton Corp. Plc, TDK Corp., and Comsys AB, among others.
The key takeaways from the report
- The report will provide detailed analysis of the Harmonic Filter Market with respect to major segments such as filter type, voltage level type, and end user type.
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024.
- Comprehensive analysis of market dynamics including factors and opportunities of the Harmonic Filter Market.
- An exhaustive regional analysis of Harmonic Filter Market from 2015 to 2014 has been included in the report.
- Profile of the key players in the Harmonic Filter Market, will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Harmonic Filter Market
Filter Type Segments
- Active Harmonic Filters
- Passive Harmonic Filters
- Tuned Passive Harmonic Filers
- De-Tuned Passive Harmonic Filters
Voltage Level Type Segments
- Low Voltage Harmonic Filters
- Medium Voltage Harmonic Filters
- High Voltage Harmonic Filters
End User Segments
- IT & Data Centres
- Oil & Gas
- North America
- South America
- Middle East