The harmonic filter market is projected to reach USD 1.12 Billion by 2023, at a CAGR of 6.65% from 2017 to 2023. The base year used for study is 2016, and the forecast period is from 2017 to 2023
The harmonic filter (HF) market has witnessed enormous technological developments in the past few years. Companies in the APAC region have witnessed significant growth and hold a major share of the harmonic filter market ecosystem.
The companies mainly adopt strategies of contracts, partnerships, and agreements to grow in the market. Currently, these companies are adopting the strategies of mergers & acquisitions, expansions, and new product launches, among others to grow in the harmonic filter market.
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Key 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.
ABB Ltd. (Switzerland) is leading the harmonic filter market. The company offers an extensive array of harmonic filters.
A major advantage that ABB Ltd. has over its competitors in the harmonic filter market is its extensive product portfolio.
ABB Ltd. offers three types of harmonic filter models, namely, BP, HP, and C with different variants. The company provides efficient solutions to reduce harmonics by choosing between different types of filter solutions.
Furthermore, ABB invested in its low voltage business segment in Germany. ABB combined the STRIEBEL & JOHN product range with its own range in the field of low-voltage products to offer complete systems from a single source in Germany.
It has a vast experience in the filtering field and offers various designs of harmonic filters that provide reliable operations in all climatic conditions.
Schneider Electric SE (France) has been ranked second in this market. Schneider Electric SE is dedicated to providing systems and services to the harmonic filter market.
It offers around 72 products with network voltage range of 380–480 V. It also offers filters with different variants, such as RMS output current rating, interrupt capacity, reactive power rating, protection type, and enclosure degree of protection.
Schneider Electric’s new range of AccuSine+ solutions offer flexible designs for ultra-fast and accurate harmonic cancellation as well as reactive current compensation for power quality management. In addition, AccuSine PCS+ product stabilizes electrical networks by providing harmonic mitigation, power factor correction, and load balancing.
This new product helps in strengthening the company’s power sector product portfolio.
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