Soaring Demand from Different End-use Industries to Propel Market Growth
Harmonic filters are extensively used across a host of sectors, including automotive, oil & gas, information technology, HVAC, mining, and wastewater, among others. At present, as the industrial sector around the world continues to flourish, power systems have come under the radar. Harmonic issues within the power systems across different industries can lead to downtime and inflict heavy damage in both, consumer appliances as well as utility suppliers. End users of harmonic filters are increasingly seeking ways to minimize harmonic pollution despite the existing current and voltage distortion in networks. Companies involved in the current harmonic filter market landscape are investing resources in the development of new solutions that minimize the nonlinear current in customer loads within a power system.
Some of the key parameters that are influenced due to harmonic filters in power systems include distortion, overloads, disturbances, etc. Technological advancements coupled with design improvements in the semiconductor space are expected to trigger significant developments within the harmonic filter market during the forecast period. Companies operating in the harmonic filter market are projected to launch different products in an array of shapes and sizes. As harmonic filters are cost-effective in comparison to series filters, the demand for the same is witnessing significant growth in communication and power applications worldwide. The surge in demand for variable frequency drives and large-scale urbanization across the world are some of the key factors that are expected to influence the growth of the global harmonic filter market during the assessment period. At the back of these factors, the harmonic filter market is expected to reach a value of ~1.5 Bn by the end of 2027.
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Global Urban Development to Augment Market Growth
Economic and urban development across the world is a trend that is expected to have a strong influence on the growth of the harmonic filter market. Due to the rapid development of cities across the world, transportation systems have received a great amount of attention. Multiple countries, particularly in the Asia Pacific region, including China, are investing considerable resources for the development of high-speed railway systems. Moreover, the East Japan Railway Co. launched a new high-speed train model in the spring of 2019. The construction of the Kuala Lumpur-Singapore high-speed railway line was initiated in 2017 and is expected to complete around 2026. These large-scale developments demand high levels of power quality and voltage stability problems and the adoption of harmonic filters, is thus, likely to grow in the near future.
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Integration of Variable Frequency Drives in Industry 4. Expected to Drive Global Market
The dawn of Industry 4.0 has led to a significant transformation in modern-day industries with automation at the helm of all major developments. Variable frequency drives (VFDs) are increasingly being deployed within the Industry 4.0 sphere, particularly in high-demanding power applications. The fast-paced industrialization and urbanization around the world are expected to increase the demand for variable frequency drives. Electrical appliances that have a non-linear load such as personal computers, AC and DC motor drives, and LED lighting display some level of harmonics. Power correction, stability, and apprehensions overpower quality continue to remain key parameters in industrial settings worldwide. As the industrial sector continues to emphasize on energy savings, electrical reliability is another area of concern that continues to gain the attention of participants involved in the industrial sector. Harmonic mitigation has gained ground over the past couple of decades due to which, the demand for harmonic filters is projected to move in the upward trajectory during the forecast period.
The adoption of harmonic filters is expected to grow at a rapid pace, as they reduce distortions in networks with significantly high levels of harmonics. The applicability of passive or active filters primarily depends on voltage levels of different applications. Active harmonic filters are increasingly used for low-voltage applications. Thus, passive harmonic filters are expected to dominate the harmonic filter market during the forecast period, due to high demand for the same from medium to high-voltage applications.
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Harmonic Filter Market: Overview
- According to Transparency Market Research’s latest research report on the global harmonic filter market for the historical period of 2017–2018 and the forecast period of 2019–2027, the rising demand for harmonic filters for use in various applications is expected to boost the global harmonic filter market during the forecast period
- In terms of revenue, the global harmonic filter market is estimated to reach value of ~US$ 1.5 Bn by 2027, expanding at a CAGR of ~6% during the forecast period
Growing Concerns about Reliable and Efficient Power Supply: A Key Driver
- Demand for power is increasing continuously and the quality and reliability of power are becoming increasingly important
- Harmonics frequencies generated in individual facilities severely affect the transmitted power around a power line. Harmonic frequencies is major cause of power quality problems. In order to eliminate this disturbance, utilities have started imposing severe penalties and, in some cases, they shut down power supply to harmonics defaulters.
- In addition, governments of various countries are taking initiatives for setting a permissible harmonic distortion limit
- Moreover, rise in the demand for modernized power grids and general preference for renewable energy applications are boosting the demand for harmonic filters
- Growing urbanization and increasing population have fueled the demand for power generation, telecommunications, infrastructure, and mass transportation
- These factors are expected to drive the global harmonic filter market during the forecast period
Increasing Demand from IT and Data Centers Offers Opportunities to Harmonic Filter Market
- The global information technology (IT) industry is expanding at a rapid pace and it is propelled by the development of IT infrastructure across the globe
- Growing urbanization has fueled the demand for telecommunications, infrastructure, and mass transportation. With growth of these sectors, leading companies are experiencing requirements in terms of infrastructure development such as high-end machines, routers, servers, as well as commercial space, lighting systems, and centralized air-conditioning systems.
- These systems is a major source of harmonic distortion. Consumer awareness about the mitigation of harmonics in the global IT industry is increasing and large players in the global IT industry are becoming aware of the effect of harmonic distortion on their energy expenditures.
- Thus, the need to minimize the level of harmonic distortion in power for IT and data centers fuels the demand for harmonic filters. Furthermore, growth of the global IT industry offers an opportunity to the global harmonic filter market.
- Thus, rise in spending in the IT industry is expected to support the adoption of high-end machines and equipment with non-linear loads, thereby giving rise to harmonics. Rising demand for ensuring optimum quality of power is expected to fuel the demand for harmonic filters in the IT & data center industry in the near future.
Availability of Substitutes to Hinder Harmonic Filter Market
- Price is one of the critical factors considered for adoption of any equipment, especially in developing economies that have highly price-sensitive consumers
- Harmonic filters are high-cost equipment and hence, their adoption is confined to a limited number of industries across the globe
- Penetration of harmonic filters is high in industries such as IT, automotive, textile, and pulp & paper. However, the adoption in other small-scale industries is sluggish, due to availability of cost-effective substitutes.
- For harmonic mitigation, small-scale industries have adopted cost-effective alternatives such as reactors, transformers, and low-cost filters. Though these alternative systems do not achieve complete harmonic filtering, they are preferred by price-sensitive customers in developing economies.
- Thus, availability of cost-effective substitutes is another major factor hampering the harmonic filter market
Harmonic Filter Market: Competition Landscape
- Detailed profiles of providers of harmonic filters have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global harmonic filter market are
- ABB Ltd.
- Emerson Electric Co., and Schneider Electric SE
- Danfoss A/S
- Siemens AG
- Comsys AB
- Schaffner Holding AG
- Crompton Greaves Ltd.
- Eaton Corp. Plc
Harmonic filter Market: Key Developments
- Key providers of harmonic filters are focusing on the development of new products and technological advancements. Some other key developments in the global harmonic filter market are as follows:
- In January 2019, Mesta Electronics, Inc. launched a new, third-generation, DPM active harmonic filter, which can be used for high-frequency current sensors to continuously monitor the load current
- In December 2018, ABB Ltd. introduced a multi-functional power quality and energy storage solution called PQactiF, which consists of active harmonic filters and energy storage solutions
- In the report on the global harmonic filter market, we have discussed individual strategies, followed by company profiles of providers of harmonic filters. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global harmonic filter market.
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