Harmonic Filter Market to grow beyond US$ 1,059.1 million by 2023
February 17, 2020
Harmonic Filter Market Overview:
The global harmonic filter market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 1,059.1 million in 2023.
The key factors propelling the growth of harmonic filters are listed below.
- Increasing use of power electronics that basically operates through electronic switching,
- Increasing levels of harmonic distortions of voltage and current waveforms in power systems
- Increasing usage of variable frequency drives (VFDs)
- Rising demand from the data centers and IT industries
- Increasing number of metal arc furnaces worldwide
- Increasing concern for potential damage from power frequency variations
- Increasing use of sensitive electronics in industrial automation process
Report Overview:
This report, from Stratview Research, studies the global harmonic filter market over the trend period from 2012 to 2017 and the forecast period from 2018 to 2023.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Get a free sample of the report here:
https://www.stratviewresearch.com/Request-Sample/385/Harmonic-Filter-Market.html
Harmonic Filter Market Segment Insights:
Passive Harmonic Filter: The growth engine
The market is segmented based on the filter type as passive harmonic filter and active harmonic filter. Passive harmonic filter is likely to remain the most dominant filter type in the market during the forecast period. Passive filters are best suitable for constant loads, as they eliminate or bypass lower order fixed harmonics of current or voltage by tuning passive filters at the resonance frequency. However, active harmonic filter is likely to be the faster-growing filter type segment of the market, owing to its superior harmonic elimination factor as it doesn’t get easily overloaded even if reaches its limit.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/385/Harmonic-Filter-Market.html
Dominance of: Low-voltage harmonic filter
Based on the voltage level type, the harmonic filters market is segmented as low-voltage, medium-voltage, and high-voltage harmonic filter. Low-voltage harmonic filter is projected to remain the largest segment of the market during the forecast period. Whereas, medium-voltage harmonic filter, another considerable segment, is likely to grow at an impressive rate in the market during the same period.
A highly/moderately/fragment consolidated Market
Some of the key companies supplying harmonic filters are ABB Ltd., Schneider Electric SA, Eaton Corporation Plc, Danfoss Group, Schaffner Holding AG, Siemens AG, TDK Corporation, AVX Corporation, Comsys AB, and TCI, LLC. Advancement in harmonic filters and regional expansion are some of the key strategies adopted by the major players in order to quickly gain market share.
Regional Hegemony of North America
North America is projected to remain the largest harmonic filter market during the forecast period. The USA is the growth engine of the North American market, driven by the presence of major players of harmonic filters as well as end-use industries. Asia-Pacific is likely to be the fastest-growing harmonic filter market during the forecast period, driven by China, India, and Japan.
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