Stratview Research has launched a new report, titled Harmonic Filter Market segmented by Filter Type (Active Harmonic Filter and Passive Harmonic Filter), by Voltage Level Type (Low-Voltage Harmonic Filter, Medium-Voltage Harmonic Filter, and High-Voltage Harmonic Filter), by Phase Type (Single-Phase Harmonic Filter and Three-Phase Harmonic Filter), by End-User Type (Manufacturing, Metal Processing, Pulp & Paper, Data & IT Center, Oil & Gas, and Others), and by Region (North America, Europe, Asia-Pacific, and RoW).

Covid-19 Impact Analysis:

Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.

According to the report, 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.

The key factors propelling the growth of harmonic filters are listed below.

  • 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
  • Increasing use of sensitive electronics in industrial automation process

Market Segments’ Analysis

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. Passive filters are best suitable for constant loads, as they eliminate or bypass lower order fixed harmonics of current or voltage by tuning passive filters at the resonance frequency. 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 harmonic filters 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. Whereas, medium-voltage harmonic filter, another considerable segment, is likely to grow at an impressive rate in the market during the same period.

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.

Key Players

The following are the key players in the Harmonic Filter Market.

  • ABB Ltd., Schneider Electric SA,
  • Eaton Corporation Plc,
  • Danfoss Group,
  • Schaffner Holding AG,
  • Siemens AG,
  • TDK Corporation,
  • AVX Corporation, Comsys AB,
  • TCI, LLC.

Frequently Asked Questions –

This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:

  • What is the current and future market size of Harmonic Filter Market?
  • How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
  • What will be the short and long-term effects of the pandemic?
  • How are other market factors affecting the market dynamics?
  • Which segments offer high-growth opportunities in the long run?
  • How fierce is the Harmonic Filter Market competition?
  • What are the key emerging trends and unmet needs in the present market?
  • What are the strategic growth opportunities and key success factors?

Read the full report: https://www.stratviewresearch.com/Request-Sample/385/Harmonic-Filter-Market.html#form

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