Harmonic Filter Market

Harmonic Filter Market: Overview

The market size for industrial refrigeration systems was USD 1.1 billion in 2021, and it is projected to grow at a CAGR of 7.5 percent during the forecast period. Numerous industries, including automotive, oil and gas, information technology, HVAC, mining, and wastewater, employ harmonic filters extensively. Power systems are now being overlooked while the industrial sector continues to grow worldwide. Harmonic problems in the power systems of many industries can cause outages and severe damage to utility providers and consumer gadgets.

Harmonics are continuous multiples of the fundamental frequency of 60 Hz in terms of current and voltage. Large amounts of harmonics can cause the system to malfunction, causing downtime and increased operational expenses. Appliance-induced harmonic distortion is removed using harmonic filters. Electrical equipment uses a harmonic filter to reduce harmonics brought on by non-linear loads. Numerous industries use these filters extensively, including oil and gas, manufacturing, water and waste management, metal and mining, and paper and pulp. Harmonic currents are diverted to the ground using harmonic filters, which consist of capacitors, inductors, and resistors. Manufacturers have been able to lower operational expenses and production downtime by using harmonic filters. Harmonics has always been a significant issue, and this trend is still present in the era of contemporary electrical power networks. A third-generation DPM active harmonic filter that may be used with high-frequency current sensors to monitor the load current continuously was released by Mesta Electronics, Inc. in January 2019.

Price is one of the most important considerations when adopting any technology, especially in developing economies where consumers are more price-sensitive. Due to their high initial investment costs, harmonic filters are only used by a few global sectors. Harmonic filters are widely used in various sectors, including IT, automotive, textile, and pulp & paper. Due to the availability of cheaper alternatives, adoption is slow in other small-scale businesses. ABB Ltd. unveiled PQactiF, a multipurpose power quality and energy storage solution, in December 2018. It consists of active harmonic filters and energy storage options.

Harmonic Filter Market: COVID-19 Impact

Due to the ongoing COVID-19 outbreak, the market has suffered. Many nations' travel restrictions have hampered the supply chains of the major participants in this business. Additionally, because China is one of the top producers of electronic devices and accessories, its international selling has been hindered. However, this has allowed numerous local players to meet regional demands, intensifying rivalry between the major organizations. Furthermore, it is projected that the market for harmonic filters will rise over the post-pandemic period due to quick technology advancements and the desire to reduce irregularities.

Harmonic Filter Market: Drivers

Increasing Demand from a Variety of End-Use Industries Has Driven Market Growth

Numerous industries, including automotive, oil and gas, information technology, HVAC, mining, and wastewater, employ harmonic filters extensively. Power systems are now being overlooked while the industrial sector continues to grow worldwide. Harmonic problems in the power systems of many industries can cause outages and severe damage to utility providers and consumer gadgets. Despite the current and voltage distortion in networks, end users of harmonic filters are looking for strategies to reduce harmonic pollution. To reduce the nonlinear current in customer loads within a power system, businesses operating in the current harmonic filter market environment are devoting resources to creating novel technologies.

Urbanization Worldwide Has Boosted Market Expansion

Global economic and urban development is a trend that is anticipated to have a significant impact on the expansion of the harmonic filter market. Transportation systems have drawn much attention due to the growing urbanization of cities everywhere. Many nations, including China, are devoting significant resources to constructing high-speed rail networks, especially in the Asia Pacific region. In the spring of 2019, the East Japan Railway Co. unveiled a new high-speed train model. The construction of the Kuala Lumpur-Singapore high-speed railway line began in 2017 and is anticipated to be finished in 2026. Due to the high levels of power quality and voltage stability issues required by these large-scale advances, harmonic filters are likely to become more widely used shortly.

Harmonic Filter Market: Restraints

 Lack of Alternatives has Limited Market for Harmonic Filters

Price is one of the most important considerations when adopting any equipment, especially in emerging economies where consumers are more sensitive to price. Because harmonic filters are expensive pieces of equipment, their use is restricted to a small number of global sectors. Harmonic filters are widely used in various sectors, including IT, automotive, textile, and pulp & paper. Due to the availability of cheaper alternatives, adoption is slow in other small-scale businesses. Small-scale enterprises have embraced affordable methods for harmonic mitigation, including reactors, transformers, and inexpensive filters. However, these alternative technologies do not completely achieve harmonic filtering, buyers in emerging economies who are price conscious like them. Therefore, the availability of affordable alternatives is a significant hindrance to the harmonic filter business.

Harmonic Filter Market: Segment Overview

Three-Phase Segment Dominated Market Due to Its Use in the Commercial sector

Based on the type of phase, the worldwide harmonic filter market can be divided into single-phase and three-phase segments. In 2018, the three-phase sector held a market share of more than 75.0% worldwide. Its growing use in commercial and industrial electrical power systems to lower voltage distortion and rectify the power factor can be linked to this. In the future, it is also projected that the soaring demand for three-phase harmonic filters across the manufacturing, power, and energy sectors would support the market expansion for this niche. The single-phase harmonic filter market is also anticipated to expand moderately in the next years. This can be linked to the expanding popularity of DC circuits for connecting consumer electronics and the rising consumption of electronic items like computers, refrigerators, smartphones, and others.

Low Voltage Segment has Dominated Segment due to Its Variety of Uses

The market category for low voltage held the largest proportion worldwide. Up until 2025, it is anticipated to hold the biggest market proportion, at about 75.0%. This is due to its widespread use in several industries, including manufacturing, data centers, power plants, and harbor cranes. Additionally, it is anticipated that their advantages of offering maximum efficiency with minimal power usage will increase demand for them. For efficient operation, several contemporary electrical devices in industrial sectors, such as power distribution systems, need higher power and voltage stability. Only a very small amount of voltage distortion is allowed in these systems. Therefore, large power distribution and transmission equipment use high voltage harmonic filters to reduce harmonic distortion and resonance issues.

Harmonic Filter Market: Regional Landscape

Asia-Pacific Dominated Market Due to Adoption of Harmonic Filters at A Fast Rate

Asia Pacific dominated the market in 2021 and generated more than 35.0% of the total revenue. Harmonic filters are widely used in the industrial and energy & power sectors, particularly in developing nations like China and India, promoting regional market expansion. Furthermore, the use of harmonic filters for residential purposes is anticipated due to the region's widespread population and large-scale manufacture of consumer electronics. The East Japan Railway Co. introduced a new high-speed train model in February 2019 for the following spring. The construction of the Kuala Lumpur-Singapore high-speed railway line began in 2017 and is anticipated to be finished in 2026.

Furthermore, significant expenditures on renewable energy projects by governments of various nations, including the U.K., Germany, and France, are expected to result in significant growth in Europe during the projected period. For instance, in 2017, Germany and Ghana invested USD 117 million to build renewable energy infrastructure. A third-generation DPM active harmonic filter that may be used with high-frequency current sensors to monitor the load current continuously was released by Mesta Electronics, Inc. in January 2019.

Harmonic Filter Market: Competitive Landscape

Active harmonic filters and energy storage options are combined in the multi-functional power quality and PQactiF system, which ABB Ltd. unveiled in December 2018. The East Japan Railway Co. introduced a new high-speed train model in February 2019 for the following spring. The construction of the Kuala Lumpur-Singapore high-speed railway line began in 2017 and is anticipated to be finished in 2026.

Few of the players in the Harmonic Filter Market include Koninklijke Philips N.V.(Netherlands), Fuji Component Parts USA, Inc.(US), Siemens AG (Germany), and manufacturers such as ABB Ltd. (Switzerland), Comsys AB (Sweden), Schneider Electric SE (France), Eaton Corporation Plc (Ireland), Baron Power Limited (India), Danfoss A/S (Denmark), Siemens AG (Germany), Crompton Greaves Ltd. (India), Schaffner Holding AG (Switzerland), TDK Corporation (Japan), MTE Corporation (US), TCI, LLC (US), Larsen & Toubro Limited (India), Enspec Power Ltd. (UK), Arteche (Spain), AVX Corporation (US), Mirus International Inc. (Canada), LPI-NZ Ltd. (Australia), Mesta Electronics, Inc. (US), and REO AG (Germany).

Regional Classification of the Global Harmonic Filter Market is Described Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability

Key Elements Included In The Study: Global Harmonic Filter Market

• Harmonic Filter Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2018 - 2022
• Market Value at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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