The global harmonic filters market size is estimated to reach
USD 1.28 Billion by 2025, according to a new report by Grand View Research,
Inc., rising at a CAGR of 7.1% during the forecast period. Harmonic filters are
an integral part of electric power systems that are used for mitigation of
harmonics, an effect produced due to non-linear loads. Significant investments
in building renewable energy infrastructure worldwide coupled with rapid
adoption of variable frequency drives (VFDs) for industrial applications such
as heating, ventilation, and air conditioning (HVAC) and electric motors are
anticipated to boost the growth of the market.
Harmonic filter is an essential component
integrated in power converters and inverters, UPS systems, and other commercial
applications such as data centers, hospitals, and offices to enhance power
quality in these systems. The global demand for the product is projected to
rise tremendously by 2030 on account of increasing investments by governments
in the deployment of renewable energy infrastructure (wind energy and solar
energy).
For instance, China invested approximately USD
126 Billion on renewable energy infrastructure in 2017. Harmonic resonance is a
key concern during the set-up of large solar and wind power plants. Harmonic
filters are installed during the deployment of renewable energy infrastructure
for the purpose of mitigating harmonic disturbances and power losses.
Additionally, key market players are focusing
on developing new innovative products for the rapidly growing e-mobility market
across the world. For instance, in 2017, Schaffner Holding AG introduced a new
lightweight active harmonic filter for electric vehicles with objective of
delivering high performance and reducing power losses even at a high frequency.
Moreover, strong adoption of harmonic filters in the manufacturing and consumer
electronics industry coupled with significant renewable energy investments
enabled the Asia Pacific regional market to gain a substantial share in 2017.
Increasing investments aimed at the
construction of new data centers and renewable energy infrastructure in key
countries such as the U.S., China, India, and the U.K. are poised to drive the
market over the forecast period. Despite all these benefits, lack of product
awareness among small and medium-sized manufacturers coupled with significant
availability of substitute products is likely to inhibit the growth of the
global harmonic filters market over the forecast period.
For full research report on Harmonic
Filter Market visit here:
https://www.grandviewresearch.com/industry-analysis/harmonic-filter-market
Further key
findings from the study suggest that:
- In 2017, Asia
Pacific represented the leading share in the market, owing to high
adoption of VFDs in the manufacturing industry, data centers, and the
energy & power sectors
- Europe is expected
to reflect the highest growth during the forecast period on account of
increasing investments in deployment of renewable energy infrastructure
along with burgeoning demand for harmonic filters from the automotive
industry, specifically for their use in electric vehicles
- Significant
investments in R&D initiatives to develop new and innovative harmonic
filters with the objective of reducing the overall input voltage and
enhancing product performance is estimated to stimulate the growth of the
market
- Investments aimed at
building new data centers to meet needs of business enterprises are
anticipated to stir up the adoption of harmonic filters over the forecast
period.
Get free request sample of this report
here: https://www.grandviewresearch.com/industry-analysis/harmonic-filter-market/request/rs1
Grand
View Research has segmented the global harmonic filters market on the basis of
product, phase, voltage, end use, and region:
Harmonic
Filters Product Outlook (Revenue, USD Million, 2015 - 2025)
- Active
- Passive
- Hybrid
Harmonic
Filters Phase Outlook (Revenue, USD Million, 2015 - 2025)
- Single-Phase
- Three-Phase
Harmonic
Filters Voltage Outlook (Revenue, USD Million, 2015 - 2025)
- Low
- Medium
- High
Harmonic
Filters End-Use Outlook (Revenue, USD Million, 2015 - 2025)
- Industrial
- Commercial
- Residential
Harmonic
Filters Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- MEA
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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