Harmonic Filters Demand to be Heavily Influenced by Trends in Power Quality Management

The stiff competition between ABB Ltd., Emerson Electric Co., and Schneider Electric SE characterizes the competitive landscape of the global harmonic filter market, finds Transparency Market Research (TMR). Collectively, these three players account for a share of 41% in this highly concentrated market. As the industrial sector consumes the highest number of these filters at present, ABB Ltd., which supplies harmonic filters to utilities, metal processing, and manufacturing industries, has gained prominence, accounting for 17.7% of the market.

The IT industry and data centers are rapidly emerging as one of the major application areas of harmonic filters, globally, with increasing usage of these filters in UPS and HVAC systems. Emerson Network Power is focusing on expanding its expertise in this sector and establishing itself as the leading supplier.

According to TMR, the future of harmonic filters will be shaped by the trends in power quality management. Leading companies are focusing aggressively on the expansion of their product lines in this field. Schneider Electric has already initiated the development of a wide array of high-quality harmonic filters and power correction devices. In line with this strategy, the firm has developed AccuSine, a high-performance active harmonic filter.

“The rapid upsurge in the demand for power on utilities has increased the concerns over the power quality and its transmission. Harmonic filters are witnessing extensive demand across the world due to this. The sales dynamics of these filters are being greatly influenced by the increasing deployment of variable frequency drives (VFDS),” says an analyst at TMR.

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Growing concerns over the quality of power and power transmission, triggered by the swelling need for power on utilities, have boosted the demand for harmonic filters across the world, TMR’s analysis notes. The sales volume of these filter has also been climbing high on the back on increasing installation of variable frequency drives (VFDS) in the recent past. In 2015, harmonic filters gained an overall market value of US$697.2 mn, globally.

Over the next few years, the implementation of strict rules pertaining to energy consumption in industries is projected to upswing the demand for harmonic filters, specifically in IT industry and data centers. However, the dearth of consumer awareness regarding harmonic suppression will limit their application across other industries. Besides, harmonic filters are expensive and their installation and maintenance incur a significant amount as well, which also will hamper their adoption to some extent.

The global harmonic filter market is expected to rise at a CAGR of 6.50% during the period from 2016 to 2024 and reach an opportunity worth US$1.2 bn by the end of 2024.

Report Link: http://www.transparencymarketresearch.com/world-harmonic-filter-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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