Harmonic Filter Market Analysis Report By End Use, By Product, By Phase, By Voltage and Segment Forecasts From 2018 To 2025

Industry Insights

The harmonic filter market size across the globe was valued at USD 768.5 million in 2017. It is projected to witness a CAGR of 7.1% over the forecasted years, 2018 to 2025. The rising demand to reduce harmonic vibrations that are created by unstable loads present in electrical components is projected to trigger the market growth for harmonic filters across the globe.

Rapid industrialization across countries like India and China along with the surging adoption of VFDs (variable frequency drives) is also driving the demand for harmonic filters. These VFDs are used along with electrical systems for reducing power consumption. Also, modern power systems like SCADA and solar systems make use of these filters for efficient operations.

  The harmonic filters also reduce the overall operational costs by enhancing power output, eliminate risks due to resonance created by harmonic currents, and lower operational downtime caused due to nuisance tripping, premature plant failure, and overloading.

The creation of several data centers for storing huge amounts of data is also propelling the need for these filters. Further, statutory governing bodies across countries like the U.S., U.K., Germany, and China are promoting the usage of renewable energy. This is also expected to trigger the demand for equipment like harmonic filters for the efficient functioning of electronic systems.

Product Insights

The market can be classified into passive, hybrid, and active based on the product type. The passive product segment accounted for the highest share of around 60.0% across the global market in 2017. This can be associated with their rising usage across industrial applications like VFDs in motors, UPS (uninterruptible power supply), transformers, and rectifiers to reduce fluctuations caused by nuisance tripping and overloading.

Rising concerns over higher power consumption in many electrical systems across commercial, residential, and industrial applications like a copier, fluorescent lighting, and LED drivers are propelling the growth for active harmonic filters. Moreover, their feature of low power consumption and improved operational efficiency are expected to drive the market growth for this segment from 2018 to 2025.

Phase Insights

The global harmonic filter market can be segmented into single and three-phase based on phase type. In 2017, the three-phase segment accounted for a share of more than 75.0% across the global market. This can be associated with its increasing usage across commercial and industrial electrical power systems to reduce voltage distortion and to correct the power factor. The surging demand for three-phase harmonic filters across the manufacturing, power, and energy sectors is also anticipated to support the market growth for this segment in the upcoming years.

The single-phase harmonic filter segment is also projected to witness moderate growth in the upcoming years. This can be attributed to the increasing adoption of electronic products like laptops, refrigerators, smartphones, and others coupled with the rising preference of DC circuits for connection of these consumer electronic products.

Voltage Insights

The segment of low voltage accounted for the highest share across the global market. It is also expected to witness the highest share of around 75.0% across the overall market until 2025. This can be attributed to their usage across a wide range of applications like harbor cranes, power plants, data centers, and manufacturing industries. Also, their features of providing optimal efficiency with low power consumption are expected to propel their demand.

Several modern electrical devices used across industrial sectors like power distribution systems require more power and voltage stability for efficient functioning. In such systems, only a minimal level of voltage distortion is permitted. Thus, high voltage harmonic filters are used across heavy power distribution and transmission equipment for reducing harmonic distortion and resonance problems.

End-Use Insights

The global harmonic filters market can be classified into commercial, residential, and industrial segments based on its end-use. In 2017, the industrial end-use segment held the largest share of around 58.0% across the global market. Rising usage of such filters in VFDs across several industries like energy and power, manufacturing, and water treatment plants to carry out mitigation processes are expected to augment the market growth for this segment.

The commercial segment is also expected to register significant growth over the forecasted period, 2018 to 2025. This can be attributed to the surging usage of these filters for reducing the harmonic level in electrical devices like electric heaters, power converters, and electric motors. Moreover, rising construction activities for setting up commercial buildings and data centers are anticipated to drive the market growth for this segment.

Regional Insights

In 2017, Asia Pacific accounted for a dominant share of around 35.0% across the global market. The rising adoption of these harmonic filters across energy and power sectors in developing countries like India and China is expected to trigger market growth across this region. Further, rising demand for consumer electronics and a surging population is also estimated to fuel up the demand for harmonic filters across this region.

Europe is also expected to register substantial growth in the upcoming years. This can be attributed to the rising investments by governing authorities for the promotion of renewable energy products. For example, in 2017, Ghana and Germany made an investment of USD 117 million for the development of renewable energy infrastructure.

COVID-19 Impact Insights

The market has been negatively impacted due to the ongoing COVID-19 pandemic. Travel restrictions being imposed by many countries have hindered the supply chain of key players operating in this market. Also, as China is one of the leading manufacturers of electronic equipment and auxiliaries, its global sale has been obstructed. However, this has created an opportunity for many local players to cater to regional demands, thereby creating stiff competition for the major organizations. Moreover, rapid technological advances and the need for reducing fluctuations are anticipated to drive the market growth for harmonic filters over the post-pandemic period.

Harmonic Filter Market Share Insights

The global market includes key players such as Siemens AG, ABB Ltd., Emerson Electric Co, TDK Corporation, Comsys AB, Baron Power Ltd., and MTE Corporation. They are constantly engaged in product development and innovation for enhancing the operational efficiency of the components.

Huge investments in R&Ds are being undertaken by these players to widen their product portfolio and geographical reach. For example, MTE Corporation developed line extensions for guardian filters and AP matrix harmonic filters in 2018. These filters can be operated at 600V and produce higher power output and operational efficiency.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2015 to 2025 in each of the sub-segments. For this study, Million Insights has segmented the global harmonic filter market based on product, phase, voltage, end-user, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Active
    • Passive
    • Hybrid

• Phase Outlook (Revenue, USD Million, 2015 - 2025)
    • Single-Phase
    • Three-Phase

• Voltage Outlook (Revenue, USD Million, 2015 - 2025)
    • Low
    • Medium
    • High

• End-Use Outlook (Revenue, USD Million, 2015 - 2025)
    • Industrial
    • Commercial
    • Residential

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • The U.K.
        • Germany
        • France
        • Spain
        • Italy
    • The Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Australia
    • Latin America
    • MEA