Traditional Air Conditioning Systems Get the Boot as Consumers Turn toward Energy-efficient Models

The vendor landscape of the global air conditioning systems market is speckled with large and established companies such as Gree Electric Appliances, Inc., Daikin Industries Ltd., and Carrier Corporation; emerging players such as Panasonic Corporation, Mitsubishi Corporation, and The Midea Group; and promising vendors such as LG Electronics, Haier Electronics Group Co., Ltd., and Hitachi Ltd. Each of these players have been striving to strengthen their position in the air conditioning systems market and achieve sustainable growth.

Transparency Market Research finds that in order to achieve these goals, companies are presently focused on integrating products so as to expand their customer base and reach out to newer audiences. Strategic partnerships and acquisitions have also been a core strategy for a number of players. A case in point would be Carrier, who, in 2011, joined hands with the Midea Group of China to manufacture as well as distribute HVAC systems in Brazil, Argentina, and Chile. “This joint venture not only helped Carrier form a strong distribution network in these promising countries but also established a strong foothold for the company at a global level,” the lead analyst of the TMR study states.

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Harmonics are generated in an electrical power system owing to the presence of non-linear loads such as drives in the system. The propagation of harmonic frequencies in the electrical system is one of the frequent causes of problems related to power quality. Harmonic causes misfiring in variable speed drives, heating in the system and torque fluctuations. Therefore, for ensuring optimum power quality, complete suppression of harmonics is a critical consideration. Recent advancements in solid state power converters coupled with growing significance of power quality is expected to increase the use of harmonic filters across the globe. The advancements in semiconductor technology, making harmonic filters slightly cost effective and high powered technology, has had positive impact on the growth of harmonic filters across the globe.

The growing use of non-linear loads such as the variable frequency drives that produce harmonics coupled with the increasing need to ensure power quality is boosting the growth of the global harmonic filter market. The growing importance of achieving acceptable levels of power quality is driving the growth of harmonic filters. By maintaining power quality through harmonic suppression, power losses can be extremely minimized and significant energy savings can be achieved. Increasing adoption of variable frequency drives promoting the uptake of harmonic filters. Rise in automation across different industrial and commercial applications and growing demand for electrical efficiency has increased the demand for Variable Frequency Drives (VFD), which is in turn boosting the growth of the harmonic filter market. The conjoint effect of all these drivers is set to boost the growth of the global harmonic filter market from 2016 – 2024.

Escalating demand from IT and data centers are set to offer potential growth opportunities to the global harmonic filters market. Thus, growth in the IT industry spending is expected to support the growth of high end machines and equipments with non-linear loads, giving rise to harmonics. Rising demand for ensuring optimum power quality is expected to fuel the growth of harmonic filters in IT and data center industry. Further, government regulations and penalties imposed by utilities are set to offer lucrative opportunities for the growth of harmonic filters in the near future. For example, in India (Tamil Nadu), government has set the total voltage harmonic distortion limit at 5% and total current harmonic distortion limit at 8%. If a consumer exceeds these harmonic levels, then that person is entitled to pay 15% of his respective tariff as compensation. Owing to the impact of these regulations and penalties, facilities that produce harmonics are installing harmonic filters.

Report Link: http://www.transparencymarketresearch.com/air-conditioning-systems-market.html

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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