Global Harmonic Filter Market
Global Harmonic Filter Market
By Type (Active, and Passive), Voltage Level (Low Voltage Harmonic, Medium Voltage Harmonic, and High Voltage Harmonic), Phase and Regional Market Size, Status and Forecast to 2025
The global Harmonic Filter Market was valued at USD 0.70 billion in 2016 and is projected to reach USD 1.24 billion by 2025, growing at a CAGR of 6.54% from 2017 to 2025.
Harmonic filters are shunt elements that are used in power systems for decreasing voltage distortion and for power factor correction. Nonlinear elements such as power electronic converters generate harmonic currents or harmonic voltages, which are injected into power system.
1. Market Drivers
1.1 Rising Need for High Power Quality and Reliability
1.2 Increased Adoption of Variable Frequency Drives (VFDS)
1.3 Stringent Government Regulations Pertaining to Power Quality and Reliability
1.4 Increasing Awareness of Negative Effects of Harmonic Disturbances
2. Market Restraints
2.1 High Cost of Harmonic Filters and Their Cost of Installation and Maintenance
2.2 Availability of Substitutes for Harmonics Filters
1. Global Harmonic Filter Market, by Voltage level:
1.1 Low-Voltage Harmonic Filters
1.2 Medium-Voltage Harmonic Filters
1.3 High-Voltage Harmonic Filters
2. Global Harmonic Filter Market, by Type:
2.1 Active Harmonic Filter (AHF)
2.2 Passive Harmonic Filter (PHF)
2.2.1 Tuned Passive Harmonic Filter
2.2.2 Detuned Passive Harmonic Filter
3. Global Harmonic Filter Market, by Phase:
3.1 Single-Phase Harmonic Filter
3.2 Three-Phase Harmonic Filter
4. Global Harmonic Filter Market, by End-User:
4.1.2 Metal Processing
4.1.3 Pulp and Paper
4.1.5 Oil and Gas
5. Global Harmonic Filter Market, by Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. ABB Ltd.
2. Schneider Electric Se
3. Eaton Corporation PLC
4. Schaffner Holding AG
5. Siemens AG
6. CG Power and Industrial Solutions Limited (CG)
7. TDK Corporation
8. Larsen & Toubro Limited (L&T)
10. AVX Corporation
11. Mte Corporation
12. Comsys Ab
13. Enspec Power Ltd
14. Mirus International Inc.
15. LPI-NZ Ltd
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Harmonic Filter Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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