The global Harmonic Filters Market size is estimated to reach
USD 1.28 Billion by 2025, according to a new report by Grand View Research,
Inc., rising at a CAGR of 7.1% during the forecast period. Harmonic filters are
an integral part of electric power systems that are used for mitigation of
harmonics, an effect produced due to non-linear loads. Significant investments
in building renewable energy infrastructure worldwide coupled with rapid
adoption of variable frequency drives (VFDs) for industrial applications such
as heating, ventilation, and air conditioning (HVAC) and electric motors are
anticipated to boost the growth of the market.
Further key findings from the study suggest that:
Harmonic filter is an essential component integrated in power
converters and inverters, UPS systems, and other commercial applications such
as data centers, hospitals, and offices to enhance power quality in these
systems. The global demand for the product is projected to rise tremendously by
2030 on account of increasing investments by governments in the deployment of
renewable energy infrastructure (wind energy and solar energy).
For instance, China invested approximately USD 126 Billion on
renewable energy infrastructure in 2017. Harmonic resonance is a key concern
during the set-up of large solar and wind power plants. Harmonic filters are
installed during the deployment of renewable energy infrastructure for the
purpose of mitigating harmonic disturbances and power losses.
Additionally, key market players are focusing on developing new
innovative products for the rapidly growing e-mobility market across the world.
For instance, in 2017, Schaffner Holding AG introduced a new lightweight active
harmonic filter for electric vehicles with objective of delivering high
performance and reducing power losses even at a high frequency. Moreover,
strong adoption of harmonic filters in the manufacturing and consumer
electronics industry coupled with significant renewable energy investments
enabled the Asia Pacific regional market to gain a substantial share in 2017.
Increasing investments aimed at the construction of new data
centers and renewable energy infrastructure in key countries such as the U.S.,
China, India, and the U.K. are poised to drive the market over the forecast
period. Despite all these benefits, lack of product awareness among small and
medium-sized manufacturers coupled with significant availability of substitute
products is likely to inhibit the growth of the global harmonic filters market
over the forecast period.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/harmonic-filter-market
https://www.grandviewresearch.com/industry-analysis/harmonic-filter-market
Further key findings from the study suggest that:
- In
2017, Asia Pacific represented the leading share in the market, owing to
high adoption of VFDs in the manufacturing industry, data centers, and the
energy & power sectors
- Europe
is expected to reflect the highest growth during the forecast period on
account of increasing investments in deployment of renewable energy
infrastructure along with burgeoning demand for harmonic filters from the
automotive industry, specifically for their use in electric vehicles
- Significant
investments in R&D initiatives to develop new and innovative harmonic
filters with the objective of reducing the overall input voltage and
enhancing product performance is estimated to stimulate the growth of the
market
- Investments
aimed at building new data centers to meet needs of business enterprises
are anticipated to stir up the adoption of harmonic filters over the
forecast period.
About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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