Dublin, Dec. 10, 2018 (GLOBE NEWSWIRE) -- The "Harmonic Filter Market by Type, by Voltage Level Type, by Phase Type, by End-User Type and by Region Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The global 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.
Increasing use of power electronics that basically operates 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, increasing number of metal arc furnaces worldwide, increasing concern for potential damage from power frequency variations, and increasing use of sensitive electronics in industrial automation process are some of the factors burgeoning the growth of harmonic filters worldwide.
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. 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 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 from 2018 to 2023. 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 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
Based on the end-user type, the market is classified as manufacturing, metal processing, paper & pulp, data & IT center, 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) in which manufacturing is a big contributor. VSDs inject harmonics and create a power-quality problem in industrial power-supply distribution.
In terms of regions, 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 of 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.
The supply chain of this market comprises raw material suppliers, component manufacturers, harmonic filter manufacturers, distributors, and end users.
Some of the key companies supplying harmonic filters are ABB Ltd., Schneider Electric SA, Eaton Corporation Plc, Danfoss Group, Schaffner Holding AG, Siemens AG, TDK Corporation, AVX Corporation, Comsys AB, and TCI, LLC. Advancement in harmonic filters and regional expansion are some of the key strategies adopted by the major players in order to quickly gain market share.
Key Topics Covered
1. Executive Summary
2. Harmonic Filter Market - Overview and Market Forces
2.1. Introduction
2.2. Market Classification
2.2.1. By Filter Type
2.2.2. By Voltage Level Type
2.2.3. By Phase Type
2.2.4. By End-User Type
2.2.5. By Region
2.3. Market Drivers
2.4. Market Constraints
2.5. Supply Chain Analysis
2.6. Industry Life Cycle Analysis
2.7. PEST Analysis: Impact Assessment of Changing Business Environment
2.8. Porter's Five Force Model
2.9. SWOT Analysis
3. Harmonic Filter Market Analysis - By Filter Type
3.1. Strategic Insights
3.2. Active Harmonic Filter Market Trend and Forecast (US$ Million)
3.3. Passive Harmonic Filter Market Trend and Forecast (US$ Million)
4. Harmonic Filter Market Analysis - By Voltage Level Type
4.1. Strategic Insights
4.2. Low-Voltage Harmonic Filter Market Trend and Forecast (US$ Million)
4.3. Medium-Voltage Harmonic Filter Market Trend and Forecast (US$ Million)
4.4. High-Voltage Harmonic Filter Market Trend and Forecast (US$ Million)
5. Harmonic Filter Market Analysis - By Phase Type
5.1. Strategic Insights
5.2. Single-Phase Harmonic Filter Market Trend and Forecast (US$ Million)
5.3. Three-Phase Harmonic Filter Market Trend and Forecast (US$ Million)
6. Harmonic Filter Market Analysis - By End-User Type
6.1. Strategic Insights
6.2. Harmonic Filter Market Trend and Forecast for the Manufacturing Industry (US$ Million)
6.3. Harmonic Filter Market Trend and Forecast for the Metal Processing Industry (US$ Million)
6.4. Harmonic Filter Market Trend and Forecast for the Pulp & Paper Industry (US$ Million)
6.5. Harmonic Filter Market Trend and Forecast for Data & IT Center (US$ Million)
6.6. Harmonic Filter Market Trend and Forecast for the Oil & Gas Industry (US$ Million)
6.7. Harmonic Filter Market Trend and Forecast for the Other Industries (US$ Million)
7. Harmonic Filter Market Analysis - By Region
7.1. Strategic Insights
7.2. North American Harmonic Filter Market Analysis
7.3. European Harmonic Filter Market Analysis
7.4. Asia-Pacific's Harmonic Filter Market Analysis
7.5. Rest of World's (RoW) Harmonic Filter Market Analysis
8. Competitive Analysis
8.1. Strategic Insights
8.2. Product Portfolio Analysis
8.3. Presence by Voltage Level Type
8.4. New Product Launches
8.5. Market Share Analysis
9. Strategic Growth Opportunities
9.1. Strategic Insights
9.2. Market Attractive Analysis
9.2.1. Market Attractiveness by Filter Type
9.2.2. Market Attractiveness by Voltage Level Type
9.2.3. Market Attractiveness by Phase Type
9.2.4. Market Attractiveness by End-User Type
9.2.5. Market Attractiveness by Region
9.2.6. Market Attractiveness by Country
9.3. Growth Matric Analysis
9.4. Emerging Trends
9.5. Key Success Factors
10. Company Profiles of Key Players
10.1. ABB Ltd.
10.2. AVX Corporation
10.3. Comsys AB
10.4. The Danfoss Group
10.5. Eaton Corporation PLC
10.6. Schaffner Holding AG
10.7. Schneider Electric SE
10.8. Siemens AG
10.9. TCI, LLC
10.10. TDK Corporation
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