Harmonic Filter Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Albany, NY -- (SBWIRE) -- 06/09/2015 -- A recently released report by Transparency Market Research (TMR) forecasts that the global harmonic filter market will grow at a CAGR of 7.7% between 2014 and 2020. TMR, a market intelligence firm based in the U.S., states that the global harmonic filter market will reach a market value of US$1015.1 million by 2020, from US$568.9 million in 2013. The report, titled 'Harmonic Filter Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020', is available for sale on the website. According to this market research report, high demand for power quality fuels the market for harmonic filter. Apart from that, widespread adoption of variable frequency drives (VFDs), which promote the uptake of harmonic filters, also drives this market. Fluctuations in voltage or currents lead to harmonics in electrical equipment. Equipment which helps mitigate such issues are known as harmonic filters. These make use of non-linear load.
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Problems in the quality of power are caused by changes in harmonic frequencies in electrical devices. Optimum quality of power calls for complete suppression of harmonics, which is of immense importance. Widespread application of VFD and surging demand for higher power quality is expected to fuel the global harmonic filter market in the years to come. This TMR report states that the global harmonic filter market is segmented on the basis of four key parameters, namely type, voltage level, end use, and geography. On the basis of type, the global harmonic filter market is categorized into passive harmonic filters, active harmonic filters, and harmonic standard. High voltage, medium voltage, and low voltage are the three key segments in the overall harmonic filter market based on voltage level.
The various end users in the global harmonic filter market are water treatment, oil and gas, automotive, IT and data centers, industry, and food processing and packaging. Within the industrial segment, pulp and paper, metal processing, and manufacturing are the main categories in the global harmonic filter market. Geographically, the report classifies the global harmonic filter market into Asia Pacific, Europe, North America, and Rest of the World. Some of the prominent companies in the global harmonic filter market include Schneider Electric, Schaffner Holding AG, Siemens AG, MTE Corporation, Epcos AG, Emerson Network Power, Eaton Corporation, Danfoss A/S, Comsys AB, Baron Power Ltd., and ABB Ltd.
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In 2013, the segment for passive harmonic filters held the largest share in the overall harmonic filter market, accounting for more than 3/4th of the total revenue generated in the market. This segment is expected to retain its dominant position even in the forecasting horizon. The active harmonic filters segment is also anticipated to grow robustly in the forthcoming years owing to some of its noteworthy physical properties, which include rapid reaction to changes in harmonic loads and its superior ability of harmonic mitigation. The segment of medium voltage harmonic filters is anticipated to expand robustly owing to greater efficiency.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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