Harmonic Filter Market Analysis | 2018-2023

Market Insights

The harmonic filter market was estimated at USD 778.1 million in 2017 and is likely to grow at a CAGR of 6.4% during 2018-2023 to reach USD 1,059.1 million in 2023.

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Market Dynamics

Introduction

A harmonic filter is a device that mitigates harmonics to tolerable levels. Heavy electric machines generate huge non-linear loads, which create many harmonics in the electrical power system. Harmonics are periodic, sinusoidal, and integer multiples of the fundamental frequency (50Hz or 60Hz), current, or voltage components present in the non-sinusoidal waveform. Non-linear loads are the root cause of harmonic generation.

Heavy industrial applications, such as arc furnaces, large variable frequency drives (VFDs), and heavy rectifiers for electrolytic refining, generate a lot of harmonics due to significant non-linear loads. A harmonic filter is the most suitable component that safeguards electronics and improves the power quality factor. Nowadays, in addition to industrial applications, various commercial applications, such as data and IT centers, hospitals, and commercial complexes, are also creating a huge concern about mitigating harmonic distortions.

Market Drivers

The key factors propelling the growth of harmonic filters are listed below.

• Rise of industrial automation: Automated Industrial machinery significantly contributes to harmonic distortion in electrical systems which further affects the efficiency of the machinery. Harmonic filters are widely used to remove harmonic distortion in power supply to provide stable current for operational efficiency and long life for the machinery. As industrial automation increases and machinery integrates technologies like machine learning (ML), artificial intelligence (AI), the need for harmonic filters will grow significantly.
• Global adoption of renewable energy systems: The global renewable electricity generation is forecasted to climb to over 17,000 TWh by 2030, an increase of almost 90% from 2023, according to the International Energy Agency (IEA). This growth depicts the global adaptation of sustainable and eco-friendly energy systems, which rely on complex electrical conversion systems for the production of electricity. Renewable energy technologies generate harmonic distortions that can impact grid stability and power quality which requires harmonic filters to reduce harmonic distortions, ensuring a stable and reliable power supply. 
• Growing demand for power quality management: The rapid industrialization, especially in sectors like manufacturing, IT, and energy, has led to an increased demand for power quality management. The presence of non-linear loads such as motors, drives, and power converters produce harmonic distortions leading to severe issues such as power quality problems or damage to equipment. Harmonic filters improve work efficiency by reducing power loss, aiding the industries to strive for efficient and uninterrupted operations. 

• It is increasing the use of power electronics that operate through electronic switching.

• Increasing levels of harmonic distortions of voltage and current waveforms in power systems.

• Increasing usage of variable frequency drives (VFDs).

• Rising demand from the data centers and IT industries.

• An increasing number of metal arc furnaces worldwide.

• Increasing concern for potential damage from power frequency variations.

• Increasing use of sensitive electronics in the industrial automation process.

Segments Analysis

By Filter Type

"The passive harmonic filters segment accounted for the largest market share."

The market is segmented into passive harmonic filters and active harmonic filters. The passive harmonic filter is likely to remain the most dominant filter type during the forecast period. Passive filters are most suitable for constant loads, as they eliminate or bypass lower-order fixed harmonics of current or voltage by tuning them at the resonance frequency.

However, the active harmonic filter is likely to be the fastest-growing filter type segment of the market, owing to its superior harmonic elimination factor as it doesn’t get easily overloaded even if it reaches its limit.

By Voltage Level Type

"The low-voltage segment accounted for the largest market share."

The harmonic filters market is segmented into low-voltage, medium-voltage, and high-voltage harmonic filters. Low-voltage harmonic filter is projected to remain the largest segment of the market during the forecast period.

Whereas, the medium-voltage harmonic filter, another considerable segment, is likely to grow at an impressive rate in the market during the same period.

By Phase Type

"The three-phase harmonic filters segment accounted for the largest market share."

The market is segmented into single-phase harmonic filters and three-phase harmonic filters. 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 centers, malls, and airports.

By End-User Type

"The manufacturing segment accounted for the largest market share."

The market is classified as manufacturing, metal processing, paper & pulp, data & IT centers, oil & gas, and others. The manufacturing segment is likely to remain the most dominant end-user type in the market during the forecast period. The manufacturing segment majorly includes cement, pharmaceutical, power plants, steel, foundries, and chemical industries.

The industrial sector is the major generator of variable speed drives (VSDs) to which manufacturing is a big contributor. VSDs inject harmonics and create a power-quality problem in industrial power-supply distribution.

Regional Insights

"North America accounted for the largest market share."

North America is projected to remain the largest harmonic filter market during the forecast period. The USA is the growth engine of the North American market, driven by the presence of major players in harmonic filters as well as end-use industries. Asia-Pacific is likely to be the fastest-growing harmonic filter market during the forecast period, driven by China, India, and Japan.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. The supply chain of this market comprises raw material suppliers, component manufacturers, harmonic filter manufacturers, distributors, and end users.

The following are the key players in the harmonic filters market (arranged alphabetically).

• ABB Ltd.,
• AVX Corporation, Comsys AB,
• Danfoss Group,
• Eaton Corporation Plc,
• Schaffner Holding AG,
• Schneider Electric SA,
• Siemens AG,
• TCI, LLC,
• TDK Corporation

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected].

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The harmonic filter market is segmented into the following categories:

By Filter Type

• Active Harmonic Filter
• Passive Harmonic Filter

By Voltage Level Type

• Low-Voltage Harmonic Filter
• Medium-Voltage Harmonic Filter
• High-Voltage Harmonic Filter

By Phase Type

• Single-Phase Harmonic Filter
• Three-Phase Harmonic Filter

By End-User Type

• Manufacturing
• Metal Processing
• Pulp & Paper
• Data & IT Center
• Oil & Gas
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s harmonic filter market realities and future market possibilities for the forecast period of 2018 to 2023. After a continuous interest in our harmonic filter market report from the industry stakeholders, we have tried to further accentuate our research scope to the harmonic filter market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].