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 the 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 into 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 the objective of delivering high performance and
reducing power losses even at a high frequency. Moreover, the 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.
Full Research Report On Harmonic Filter Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/harmonic-filter-market
Harmonic Filters
Market Report Highlights
- In 2017, Asia
Pacific represented the leading share in the market, owing to the 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 the 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 the needs of business
enterprises are anticipated to stir up the adoption of harmonic filters
over the forecast period.
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Harmonic Filters
Market Segmentation
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
- The U.S.
- Canada
- Mexico
- Europe
- The 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.
For more info visit @ https://www.grandviewresearch.com
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