The global market for harmonic filters is on a steady rise, expected to grow by about 6.9% each year for the foreseeable future. This means big things for the industry, with total revenue projected to hit a whopping $977.8 million by 2023 and soar past $1,911.5 million by 2033.
So, what exactly are harmonic filters? Well, they’re like superheroes for electrical devices, swooping in to battle those pesky harmonic distortions that can mess with their performance. And thanks to advancements in semiconductor technology, these filters are becoming more affordable and powerful, driving up demand worldwide. It’s a win-win for everyone involved!
Harmonics are caused by the presence of non-linear loads in an electrical power system. One of the key causes of problems associated with poor power quality is the transmission of harmonic frequencies in the power system. As a result, harmonic suppression is necessary for optimal power quality.
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The market is largely driven by the escalating demand for power quality and the increasing need to mitigate power system distortions. As industries and businesses continue to rely heavily on sensitive electronic equipment, any disruption in power quality can lead to operational inefficiencies and equipment damage. This has propelled the adoption of harmonic filters to counteract the adverse effects of harmonics and maintain a stable power supply.
Growing awareness related to potential damage from power frequency variations in electrical and heating devices is expected to be a key factor driving the 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.
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.
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
Leading Key Players:
- Baron Power Limited
- Crompton Greaves Ltd
- TDK Corporation
- Schaffner Holding AG
- Comsys AB
- Merus Power Dynamics Oy
- Larsen & Toubro Ltd.
- Siemens AG
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Harmonic Filter Market Segmentation:
By Type:
- Active
- Passive
- Tuned
- De-tuned
- Hybrid
By Voltage:
- Low
- Medium
- High Medium
By Modality:
- Single Phase
- Three Phase
By Application:
- Commercial
- Industrial
- Residential
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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