The global harmonic filter market is predicted to see a CAGR of 6.7% over the course of the forecast period, with revenues estimated to reach US$ 928.6 Mn in 2022 and US$ 1,770.4 Mn by 2032. The adoption of the harmonic filter is projected to rise as a result of the reduction of distortions in networks with notably high harmonic levels.
Although harmonic filters offer less distinct product lines, a lack of consumer understanding of how they work is anticipated to limit market expansion. Contrarily, the consumer electronics sector has seen a surge in investments, which is expected to open up new chances for market expansion.
Growing awareness related to potential damage from power frequency variations in electrical and heating devices is expected to be a key factor driving harmonic filters market. Harmonic filters are widely used in capacitor banks used in heating and electrical appliances.
Active harmonic filters are designed for power compensation and for avoiding non-linear loads that lead to low-quality transmission. Active harmonic filters are designed for dynamic reactive power compensation and harmonic filtering.
Increasing usage of harmonic filters in industrial and commercial sectors such as variable speed motor drives (VSDs), power converters, light dimmers, fluorescent lamps and have significantly contributed to the growth of harmonic filters market.
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Harmonic Filter Market: Market Dynamics
The growth of harmonic filters can be attributed to the increasing demand for active and passive harmonic filters in industrial and commercial sectors.
Rising demand from IT and data centers creates potential growth opportunities for harmonic filters market.
The application of harmonic filters along with adjustable speed drives (ASDs) on two distinct platforms is expected to hamper the growth of harmonic filter market.
Global Harmonic Filter Market: Competition Landscape
Few prominent players in Harmonic Filter market includeSchneider Electric SE, Eaton Corporation Plc, ABB Ltd., Danfoss A/S, AVX Corporation, Baron Power Limited, Crompton Greaves Ltd., TDK Corporation, Schaffner Holding AG, Comsys AB, Merus Power Dynamics Oy and Larsen & Tourbo Ltd., etc.
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Harmonic Filter Market: Regional Outlook
APAC is estimated to lead in the Harmonic Filter market as there is a high presence of various manufacturing and processing industries in different countries such as China, India, etc. followed by North America and Europe region.
APAC holds the largest market share of Harmonic filter market and is expected to grow at highest CAGR in the forecast period. Latin America and MEA are expected to contribute significantly in the near future
Regional analysis of Global Harmonic Filter Market includes
- North America Harmonic Filter Market
- US & Canada
- Latin America Harmonic Filter Market
- Brazil, Argentina & Others
- Eastern Europe Harmonic Filter Market
- Poland
- Russia
- Rest of Eastern Europe
- Western Europe Harmonic Filter Market
- Germany
- Italy
- France
- UK
- Spain
- Nordic
- BENELUX
- Rest of Western Europe
- Asia Pacific Harmonic Filter Market
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan Harmonic Filter Market
- Middle East and Africa Harmonic Filter Market
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies
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Global Harmonic Filter Market: Market Segmentation
Harmonic filter market segmented by type, voltage level, end user and region.
Segmentation by typein Harmonic Filter market:
- Active Filters
- Passive Filters
- Tuned Passive Filters
- De-Tuned Passive Filters
- Hybrid Filters
Segmentation by voltage level in Harmonic Filter market:
- Low Voltage Level
- Medium Voltage Level
- High Medium Level
Segmentation by end-user in Harmonic Filter market:
- Commercial
- Industrial
- Residential
Segmentation by end-user in Harmonic Filter market:
- Single Phase Harmonic Filter
- Three Phase Harmonic Filter
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