DUBLIN, June 19, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Harmonic Filter Market by Type (Active, and Passive), Voltage Level (Low Voltage Harmonic, Medium Voltage Harmonic, and High Voltage Harmonic), Phase, End User, and Region - Global Forecast to 2023" report to their offering.
The harmonic filter market is projected to reach USD 1.12 Billion by 2023, growing at a CAGR of 6.65% between 2017 and 2023
The growth of the harmonic filter market can be attributed to the increasing demand for harmonic filters from industrial and commercial sectors. Both active and passive types of harmonic filters are increasingly used in industrial, commercial, and residential applications.
Based on voltage level, the low voltage harmonic segment is expected to grow at the highest CAGR of 6.99% during the forecast period. In addition, this segment is estimated to account for the largest share by 2023. The high growth rate of the low voltage harmonic segment is due to the use of these filters in power transmission, distribution as well as in various manufacturing and process industries.
Among end-users, industrial segment accounted for the largest share of the harmonic filter market in 2016. Industrial facilities are the major producers of harmonic currents, as machines generally operate at a very high voltage. Several industries, such as manufacturing, metal processing, automotive, and oil & gas, involve some form of power conversion to run processes that use variable speed drives. Harmonic filters are used for a large number of industrial end uses, such as manufacturing, oil & gas, paper & pulp, and metal processing.
Based on type, the active segment of the harmonic filter market is expected to grow at the highest rate between 2017 and 2023. Active filters use power electronics switching to produce harmonic currents and harmonic components, which cancel harmonics generated from nonlinear loads. These filters are comparatively new, and various new technologies are being proposed to enhance their performance.
In 2016, the APAC held the largest share of the harmonic filter market. Moreover, this market in APAC is expected to grow at the highest CAGR between 2017 and 2023. This is due to the growth of different industries in the region and the adoption of complex equipment that tends to generate harmonics. Furthermore, APAC is expected to lead the global harmonic filter market, as there are a large number of manufacturing and processing industries in various countries of APAC, especially China, India, Singapore, and South Korea
The major players in the harmonic filter market are ABB Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation Plc (Ireland), Danfoss A/S (Denmark), and Schaffner Holding AG (Switzerland), among others. These players have adopted various strategies, such as contracts, agreements, partnerships, new product launches, and business expansions to cater to the rising demand for harmonic mitigation across industrial and commercial applications.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Harmonic Filter Market, By Type
8 Harmonic Filter Market, By Voltage Level
9 Harmonic Filter Market, By End-User
10 Harmonic Filter Market, By Phase
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- ABB Ltd. (Switzerland),Schneider Electric Se (France)
- Afp Transformers (The US)
- Arteche (Spain)
- Astrodyne Tdi Power Supplies & Emi Filters (The US)
- AVX Corporation (The US)
- Baron Power Limited (India)
- Comsys Ab (Sweden)
- Danfoss A/S (Denmark),Crompton Greaves Ltd. (India)
- Eaton Corporation PLC (Ireland)
- Finmotor Srl (Italy)
- Larsen & Toubro Limited (India)
- LPI-NZ Ltd. (Australia)
- Mesta Electronics Inc. (The US)
- Mirus International Inc. (Canada)
- Mte Corporation (The US)
- Nhp (New Zealand)
- Phaseco Inc. (The US)
- Reo AG (Germany)
- Schaffner Holding AG (Switzerland)
- Shandong Hoteam Electric Co. Ltd. (China)
- Siemens AG (Germany)
- TCI LLC (The US)
- TDK Corporation (Japan)
For more information about this report visit https://www.researchandmarkets.com/research/wwtcf3/harmonic_filter
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