Global Harmonic Filter Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027

MarketResearch.biz delivers in-depth insights on the global harmonic filter market in its upcoming report titled, “Global Harmonic Filter Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global harmonic filter market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global harmonic filter market report has been segmented on the basis of type, voltage level, end user, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analysed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Harmonics can be currents or voltages that are a continuous multiple of fundamental frequency of 60 Hz such as 120 Hz (2nd harmonic) and 300 Hz (5th harmonic). Harmonic currents release power which are not useful and also takes up electrical system capacity. If harmonics are present in large quantities, it can lead to malfunctioning of the system, resulting in downtime thereby increasing operating costs. In power systems, it can result in extreme heating of components in the equipment, torque pulsations in motors, etc. Thus controlling of harmonics is important which can be done by using harmonics filter. Harmonic filter is built using inductors, capacitors, and resistors that help deflect harmonic currents into the ground.

Adoption of harmonic filter by various industries in order to mitigate the risk associated to conductor overheating, transformer overheating, generator instability, and malfunction of fuses & circuit breakers is a major factor driving growth of the global harmonic filter market. In addition, rapid industrialization and increasing adoption from electric plants in order to avoid distortion during distribution of power are other factors expected to boost growth of the global harmonic filter market. In addition, increasing government expenditure on power sector is expected to support growth of the global harmonic filter market.

However, high cost of harmonic filters and high installation cost are major factors restraining growth of the global harmonic filter. In addition, availability of substitutes is further expected to challenge growth of the global harmonic filter market to certain extent.

Technological advancements and increasing R&D activities by major player is expected to create new opportunities in terms of revenue to players operating in the global harmonic filter market over the forecast period.

The harmonic filter market in Asia Pacific is expected to account for largest share in the global market in terms of revenue, owing to rapid industrialization, increasing government expenditure on development of smart grid technology, and presence of major manufacturers in countries in the region. The markets in North America and Europe are expected to account for significant revenue shares in the global market. The market in Europe is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to increasing adoption from various industries in economies in this region.

Global Harmonic Filter Market Segmentation:

By Types:

• Passive Filtering
• Active Filtering
• Hybrid Filtering

By Voltage Level:

• Low voltage level
• High voltage level

By End User:

• Industrial
• Commercial
• Residential

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa