The global harmonic filters market size is anticipated to value USD 1.28 billion until 2025. It is also expected to register a CAGR of 7.1% over the forecasted years, 2018 to 2025. Surging demand for harmonic filters across electronic systems to reduce effects caused due to non-linear loading and resonance is estimated to trigger the market growth for harmonic filters.
The low voltage segment dominated the global market on account of their rising applications like the construction of harbor cranes, power plants, data centers and manufacturing plants. The high voltage harmonic filters are also largely used for large power distribution and transmission equipment to reduce resonance problems.
The industrial end-use segment held the highest share of 58.0% across the global market owing to its surging usage of such filters in VFDs across several industries like energy & power manufacturing. On the other hand, the segment of commercial end-use is expected to register substantial growth in the upcoming years on account of their rising usage to reduce the harmonic level in electrical devices like electric heaters, power converters and electric motors.
In 2017, Asia Pacific held the highest share of around 35.0% across the global market due to the increasing demand for consumer electronics and the rising adoption of these harmonic filters across energy and power sectors across China and India. Europe is anticipated to witness significant growth from 2018 to 2025 owing to rising investments by governing authorities for the promotion of renewable energy products.
The harmonic filter market includes key players such as Comsys AB, Baron Power Ltd., Siemens AG, ABB Ltd., Emerson Electric Co, and TDK Corporation. Heavy investments are being undertaken by these players for product development and innovation to gain competitive advantage and to widen their product portfolio.
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Further key findings from the report suggest:
• In 2017, the three-phase segment dominated the global market with share of 75.0% across the global market.
• The industrial end-use segment accounted for highest share of more than 58.0% across the global market in 2017.
• In 2017, Asia Pacific held the highest share of around 35.0% across the global market.
• The key players in this market are Comsys AB, Baron Power Ltd., Siemens AG, ABB Ltd., Emerson Electric Co, and TDK Corporation.
Million Insights has segmented the global harmonic filter market on the basis of product, phase, voltage, end use and region:
Harmonic Filters Product Outlook (Revenue, USD Million, 2015 - 2025)
Harmonic Filters Phase Outlook (Revenue, USD Million, 2015 - 2025)
Harmonic Filters Voltage Outlook (Revenue, USD Million, 2015 - 2025)
Harmonic Filters End-Use Outlook (Revenue, USD Million, 2015 - 2025)
Harmonic Filters Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• Latin America