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Report explores the harmonic filter market expected to grow at a CAGR of 7.0% by 2024

Report explores the harmonic filter market expected to grow at a CAGR of 7.0% by 2024

Data Bridge Market Research new report "Global Harmonic Filter Market" accounted to USD 720.2 million in 2016 growing at a CAGR of 7.0% during the forecast period of 2017 to 2024

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The new report "Global Harmonic Filter Market" accounted to USD 720.2 million in 2016 growing at a CAGR of 7.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Global Harmonic Filter Market, By Type (Active Harmonic Filter (AHF), Passive Harmonic Filter (PHF), Tuned Passive Harmonic Filter, Detuned Passive Harmonic Filter) By voltage level (Low-Voltage Harmonic Filters, Medium-Voltage Harmonic Filters, High-Voltage Harmonic Filters) By application {Industrial (Manufacturing, Metal Processing, Pulp and Paper, Automotive, Oil and Gas, Water Treatment, Packaging, Food Processing) Commercial, Residential} By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024

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A harmonic filter is used to eliminate the harmonic distortion caused by appliances. Harmonics are currents and voltages that are continuous multiples of the fundamental frequency of 60 Hz such as 120 Hz (2nd harmonic) and 300 Hz (5th harmonic).

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The latest trend in this market is the high power quality and reliability, increase in variable frequency devices help in the growth of the market. There is need of harmonic filters for several applications like Industrial (Manufacturing, Metal Processing, Pulp and Paper, Automotive, Oil and Gas, Water Treatment, Packaging, Food Processing) Commercial, Residential will create a huge market for the harmonic filter.   

Key Drivers

  • Need for High Power Quality and Reliability
  • Increased in Variable Frequency Drives (VFDS)
  • Stringent Government Regulations
  • Negative Effects of Harmonic Disturbances
  • High Cost of Harmonic Filters Installation and Maintenance
  • Availability of Substitutes

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Major Players:

Some of the major players operating in harmonic filter market are ABB Ltd., Schneider Electric Se, Eaton Corporation PLC, Schaffner Holding AG, Siemens AG, CG Power and Industrial Solutions Limited (CG), TDK Corporation, Larsen & Toubro Limited (L&T), Arteche, AVX Corporation, Mte Corporation, Comsys Ab, Enspec Power Ltd, Mirus International Inc., LPI-NZ Ltd, Mesta Electronic Inc., Reo AG, Baron Power Ltd, TCI, LLC, Danfoss A/S, Sinexcel Electric Co., Ltd, LPI-NZ Ltd, Clariant Power System Ltd., Inphase Power Technologies Private Limited, Rem Electromach Pvt. Ltd. among others. In 2017, ABB partners with Scott Engineering to deliver six unique capacitor banks for six huge Canadian gas processing plants.

Market Segmentation:

On the basis of type the harmonic filter market is segmented into Active Harmonic Filter (AHF), Passive Harmonic Filter (PHF), Tuned Passive Harmonic Filter, and Detuned Passive Harmonic Filter. The tuned passive harmonic filters market is expected to grow in the forecasted period.

On the basis of voltage level the harmonic filter market is segmented into Low-Voltage Harmonic Filters, Medium-Voltage Harmonic Filters, and High-Voltage Harmonic Filters.  The medium-voltage harmonic filters market is expected to grow in the forecasted period.

On the basis of application the harmonic filter market is segmented into Industrial, Commercial, and Residential. The Industrial market is expected to grow in the forecasted period.

The industrial segments are further classified into Manufacturing, Metal Processing, Pulp and Paper, Automotive, Oil and Gas, Water Treatment, Packaging, Food ProcessingThe water treatment market is expected to grow in the forecasted period.

Read more about the Global Harmonic Filter Market [email protected] databridgemarketresearch.com/repor…ic-filter-market/

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