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Global Harmonic Filter Market: Increased Adoption of Variable Frequency Drives and Growth of Power Sector
Variant Market Research
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Rise in demand for power quality in various industries fuels the global Harmonic Filter Market
The major global harmonic filter market trend is increasing demand for power quality in numerous industries such as, medical, railways, IT, automobile, aircraft and others. Additionally, increased acceptance of adjustable frequency of power sector are also supporting the market growth. However, high price of harmonic filter attached with availability of substitutes is the restrain that would hamper the market growth. Further, rising demand from data centers and IT, would provide lucrative opportunities to the market.
Market Segmentation
The major segments considered in the global harmonic filter market are type, voltage level, and end user. Type segment is classified into active harmonic filters and passive harmonic filters. The passive harmonic filter segment is sub segmented into tuned passive harmonic filters and de-tuned passive harmonic filters. Voltage level segment comprises low, medium and high voltage harmonic filters. Further, the end-user segment is bifurcated into industrial, IT & data centers, oil & gas, automotive and others. By geography, the global harmonic filter market has been bifurcated into Europe, North America, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe covers Germany, UK, and Rest of Europe. Asia-Pacific is categorized into Japan, China, India, and Rest of Asia-Pacific, while Rest of the World is bifurcated into Middle East, South America, and Africa.
Passive harmonic filters contributed for the largest market share in the product type segment
By type, passive harmonic filters projected for more than two third of the total market revenue in 2016, driven by its low cost in comparison to active filters.
Industrial, by end user segment led the maximum market share in 2016
By end user, the industrial segment occupied for around one-third of the global harmonic filter market share in 2016, due to increasing demand from manufacturing industry, metal processing industry and pulp & paper industry.
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Low voltage harmonic filter dominated the primary share in the Voltage level segment in 2016
On the basis of harmonic filter analysis in the voltage level segment, low voltage harmonic filter segment was the largest revenue generating segment in 2016.
Asia-Pacific dominated the leading share in the global harmonic filter market
Asia-Pacific accounted for the maximum market share of 37.8% in 2016, due to economic development in countries such as China, Japan, and India which have increased the demand from numerous industries such as IT, oil & gas and automotive industries. Europe accounted for the second largest market share of 27.2%, fueled by strict regulations regarding energy consumption in countries such as France, UK and Germany. In terms of growth, Asia-Pacific is to reach the fastest CAGR of 7% during the forecast period 2016-2022, boosted by increased demand for harmonic filters from emerging economies such as China, to ensure better power quality.
Competitive Landscape
Major players in the global harmonic filter market include, ABB, NKT Cables, Dubai Cable Company Private Limited, Prysmian Group, TELE-FONIKA Kable S.A, Siemens AG, General Cable Technologies Corporation, Sumitomo Electric Industries, Ltd., Nexans S.A., Southwire Company, LLC, among others.
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Scope of Harmonic Filter Market
Filter Type Segments
• Active Harmonic Filters
• Passive Harmonic Filters
o Tuned Passive Harmonic Filers
o De-Tuned Passive Harmonic Filters
Voltage Level Type Segments
• Low Voltage Harmonic Filters
• Medium Voltage Harmonic Filters
• High Voltage Harmonic Filters
End User Segments
• Industrial
• IT & Data Centres
• Automotive
• Oil & Gas
• Others
Geographical Segments
• North America
o US
o Others
• Europe
o Germany
o UK
o Others
• Asia-Pacific
o China
o India
o Japan
o Others
• RoW
o South America
o Middle East
o Africa
Related Topics
1. Global Photonics Integrated Circuit (IC) Market - https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/photonics-ic-pic-market
2. Global Industrial Robotics Market - https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/industrials-robotics-market
3. Global Magneto Resistive RAM (MRAM) Market - https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/magneto-resistive-ram-market
4. Global Electric Motor Market - https://www.variantmarketresearch.com/report-categories/semiconductor-electronics/electric-motor-market
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy &Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
For further information, visit https://www.variantmarketresearch.com
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Head - Sales
Variant Market Research
649 Mission St, 5th Floor, San Francisco, CA 94105, United States.
Tel: +1-415-680-2785
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