Stratview Research has published a new report on the Harmonic Filter Market, segmented by Filter Type (Active Harmonic Filter and Passive Harmonic Filter), by Voltage Level Type (Low-Voltage Harmonic Filter, Medium-Voltage Harmonic Filter, and High-Voltage Harmonic Filter), by Phase Type (Single-Phase Harmonic Filter and Three-Phase Harmonic Filter), by End-User Type (Manufacturing, Metal Processing, Pulp & Paper, Data & IT Center, Oil & Gas, and Others), and by Region (North America, Europe, Asia-Pacific, and RoW).
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Market Highlights
Harmonic filter market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 1,059.1 million in 2023.
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Covid Impact
Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.
Segmentation –
This report studies the Harmonic Filter Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:
The market is segmented based on the filter type as passive harmonic filter and active harmonic filter. Passive harmonic filter is likely to remain the most dominant filter type in the market during the forecast period. Passive filters are best suitable for constant loads, as they eliminate or bypass lower order fixed harmonics of current or voltage by tuning passive filters at the resonance frequency. However, active harmonic filter is likely to be the faster-growing filter type segment of the market, owing to its superior harmonic elimination factor as it doesn’t get easily overloaded even if reaches its limit.
Based on the voltage level type, the harmonic filters market is segmented as low-voltage, medium-voltage, and high-voltage harmonic filter. Low-voltage harmonic filter is projected to remain the largest segment of the market during the forecast period. Whereas, medium-voltage harmonic filter, another considerable segment, is likely to grow at an impressive rate in the market during the same period.
Based on the phase type, the harmonic filters market is segmented as single-phase harmonic filter and three-phase harmonic filter. Three-phase harmonic filter is projected to maintain its dominance in the market over the next five years. The segment is also likely to grow at an impressive rate in the market during the same period, owing to its diversified usage in high-end industrial applications, such as manufacturing and metal processing, as well as in commercial applications, such as data and IT center, malls, and airports.
Following are the key players in the Harmonic Filter Market:
· ABB Ltd., Schneider Electric SA,
· Eaton Corporation Plc,
· Danfoss Group,
· Schaffner Holding AG,
· Siemens AG,
· TDK Corporation,
· AVX Corporation, Comsys AB,
· TCI, LLC.
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