Harmonic Filter Market Size | Global Analysis & Forecast 2023

The increasing need to ensure power quality is identified as the major factor driving the harmonic filter market worldwide. The use of harmonic filters has enabled manufacturers to reduce production downtime and operating costs. In addition, the increasing use of variable frequency drives in industrial applications has been instrumental in driving harmonic filter installations across different industry verticals. These factors are expected to contribute towards the anticipated exponential growth during the forecast period of 2016–2023. However, issues such as product differentiation and substitute availability pose a moderate challenge to market growth.

Report Scope

This report analyses the global harmonic filter market in terms of type, voltage level, end-use application, and geography. On the basis of type, the global harmonic filter market is segmented into the passive harmonic filter, active harmonic filter, and hybrid active. Also, the global harmonic filter market is further segregated on the basis of voltage level into low-voltage, medium-voltage, and high-voltage filters. Similarly, on the basis of end-user, the market for harmonic filters is classified into industrial, commercial, and residential. The geographical distribution of the global harmonic filter market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Purpose of the Report

The purpose of this strategic research study titled "Harmonic Filter Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the harmonic filter market.

1.1.1 Target Audience

Industry Investors
Harmonic Filter Manufacturers
Power Electronics Manufacturers
End-users

On the basis of voltage level, the global harmonic filter market is categorized into the following segments:

Harmonic Filters for Low Voltage
Medium Voltage Harmonic Filters
High-voltage harmonic filters

In terms of revenue, low-voltage harmonic filters acquired the major chunk of the global harmonic filter market revenue share in the base year of 2015. The segment accounted for over three-fourths of the global market revenue in the same year. The trend shall continue, and the segment is poised to retain its dominant position during the forecast period. Although low-voltage harmonic filters are expected to account for the majority of the market's revenue share, medium and high-voltage harmonic filters are expected to witness greater adoption as compared to low-voltage harmonic filters during the forecast period. Their anticipated adoption can be largely credited to the mounting demand from the industrial segment.