As per this study the Global Harmonic Filter Market was valued USD XX MN (by revenue) in 2019 and is anticipated to reach USD XX MN by 2026 with a CAGR of XX%.
The harmonic filter is a device used for the improvement of power quality, energy savings, and stabilization of the power supply. It is used in oil & gas, HVAC, water/wastewater and mining industries to reduces, or mitigates, harmonics to tolerable levels. Their usage eradicates problems associated with the expensive damage to components, downtime or penalties from utilities.
The growing industrialization in emerging economies along with increasing adoption of variable frequency drive (VFDs) is driving the market growth. In addition, various governments in developed nations are investing in the set-up for renewable energy infrastructure to control environmental pollution is further fuelling the market growth. However, high installation and maintenance cost of harmonic filters may hinder the market growth. Whereas, rising installation of harmonic filters in power distribution systems and various commercial applications is expected immense growth opportunity over the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of harmonic filter.
The broad harmonic filter market has been sub-grouped into product, phase, voltage and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for harmonic filter in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Harmonic Filter Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the harmonic filter market include ABB Ltd., Baron Power Ltd., Comsys AB, Danfoss A/S, Eaton Corporation Plc, Emerson Electric Co, MTE Corporation, Schaffner Holding AG, Schneider Electric SE, Siemens AG and TDK Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.