Harmonic Filter Market : Industry Analysis, Opportunity Assessment and Forecast upto 2024

The stiff competition between ABB Ltd., Emerson Electric Co., and Schneider Electric SE characterizes the competitive landscape of the global harmonic filter market, finds Transparency Market Research (TMR). Collectively, these three players account for a share of 41% in this highly concentrated market. As the industrial sector consumes the highest number of these filters at present, ABB Ltd., which supplies harmonic filters to utilities, metal processing, and manufacturing industries, has gained prominence, accounting for 17.7% of the market.

“The rapid upsurge in the demand for power on utilities has increased the concerns over the power quality and its transmission. Harmonic filters are witnessing extensive demand across the world due to this. The sales dynamics of these filters are being greatly influenced by the increasing deployment of variable frequency drives (VFDS),” says an analyst at TMR.

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On the other hand, the lack of awareness among consumers regarding harmonic suppression is limiting the application of these filters across a number of industries. Apart from this, the high cost of harmonic filters is also acting as a barrier to their adoption among end-users.

The future growth of the global harmonic filters market will be impacted considerably due to these factors. However, the imminent enforcement of stringent government regulations regarding the consumption of energy in heavy industries is likely to multiply the demand for harmonic filters in IT and data centers.

This 164 page report gives readers a comprehensive overview of the Harmonic Filter Market. Browse through Table. Browse through 104 figures and 29 data tables to unlock the hidden opportunities in this market.

According to TMR, the global market for harmonic filters is likely to grow into an opportunity worth US$1.2 bn by 2024, rising at a CAGR of 6.50% between 2016 and 2024. In 2015, it had attained a valuation of US$697.2 mn worldwide. Currently, passive harmonic filters attract higher demand than active harmonic filters. However, the latter is expected to gain impetus over the next few years, states TMR.

Based on voltage, while low voltage harmonic filters are likely to hold the majority of the market share, medium voltage harmonic filters will register the fastest growth rate over the forecast period.

Asia Pacific emerged the largest regional market for harmonic filters with a share of nearly 38% in 2015. It is likely to grow almost 1.8 times over the forecast period to reach an opportunity worth US$471.6 mn by the end of this term.

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Global Harmonic Filter Market, by Type

Active Harmonic Filters
Passive Harmonic Filters
Tuned Passive Harmonic Filters
De-Tuned Passive Harmonic Filters

Global Harmonic Filter Market, by Voltage Level

Low Voltage Harmonic Filters
Medium Voltage Harmonic Filters
High Voltage Harmonic Filters

Global Harmonic Filter Market, by End-Use

Industrial
IT And Data Centers
Automotive
Oil & Gas
Others

Global Harmonic Filter Market, by Geography

North America
Europe
Asia Pacific
Middle East & Africa (MEA)
Latin America

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