The Billion Dollar, High Growth Harmonic Filter Market 1
The Global Harmonic Filter Market Forecast, Stratview Research
With an exponential rise in power consumption due to the use of heavy machinery, electronics etc. the power losses have grown substantially, creating a huge market for Harmonic Filters. Stratview research, after analysing a myriad of factors, triangulates that the global Harmonic Filter Market to grow at a CAGR of near 6% for the next five years, and reach a market size of around USD 1 Billion.

A high-quality power has three aspects; steady voltage, smooth voltage waveform and steady A.C. frequency. Distortion in any of them leads to poor power quality, resulting in power losses. According to the world bank, the global electric power transmission and distribution losses since the 1990s have gyrated between 8-9%, lower for developed countries and much higher for developing countries, like India where losses are around 19%.

Today the main power quality related issues are electrical harmonics, poor power factor, voltage instability and imbalances. These seemingly trivial issues result in far-reaching consequences including higher energy usage and costs, higher maintenance costs, equipment instability and failure.  Many regulators impose a penalty on industries which have low power factor, as they consume more power than they need, indirectly creating the need for harmonic filters thus.

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According to Stratview Research, after deep analysis of the market, stratum after stratum, estimates the market size of Harmonic Filters to grow to over US$ 1 billion by 2023, with an impressive CAGR of over 6% during the forecast period (2018 to 2023).

There are a number of harmonic mitigation solutions available, most of them are of the passive type: doubling the neutrals, k-rated transformer, zigzag transformer, Phase shifting transformers, redistribute or relocate harmonic producing loads and use of tuned (or detuned) filters. Simply put, the options are of using a transformer or a filter (harmonic filter; active 0r Passive).

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Growth Influencers 

Unprecedented technological progress and proliferated use of electronics, the internet, computing has led to mushrooming of Data and IT centers. They are improving their power factor by using harmonic filters, thus saving power cost and reducing emission while they are also driving the demand for harmonic filters.

Renewable sources of energy like Photovoltaic, wind, natural gas sources which were once considered innocuous harmonic produces are proving to be the contrary.  They will give a great thrust to growth in harmonic filters.

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Our research endeavour focuses on the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

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