43% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for harmonic filters in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The rapid urbanization and the increasing number of commercial establishments will facilitate the harmonic filter market growth in APAC over the forecast period.
The potential growth difference for the harmonic filter market between 2020 and 2025 is USD 223.66 million. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver - The key factor driving growth in the harmonic filter market is the rising need to improve power quality. Power network reliability issues and non-uniform power quality have increased the need for efficient power supply in industrial and commercial premises. Hence, the demand for equipment that ensures high-quality power from end-users is growing. Electricity has become a key concern for various industries, especially in developing countries, because of severe power shortages. Therefore, industrial operators prefer different types of energy-efficient industrial equipment such as motors, compressors, pumps, and fans to reduce the use of electricity utilization and OPEX.
- Market Challenges - The high cost of installation will be a major challenge for the harmonic filter market during the forecast period. Though harmonic filters provide a better return on investment (ROI) in a long duration, end-users must make significant investments compared with economical alternatives such as line reactors and load reactors. Line reactors are used on the input of VSDs and other non-linear devices to eliminate tripping and reduce harmonic distortion and surge currents. The high switching cost is a major obstacle for end-users to implement these filters in their production processes. The need for regular maintenance and repair also increases OPEX.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!
The harmonic filter market report is segmented by Product (PHF and AHF), End-user (industrial and non-industrial), and Geography (APAC, Europe, North America, South America, and MEA). The market research report entails detailed information on the competitive intelligence, marketing gaps, segmentation, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
The harmonic filters market is fragmented and the vendors are deploying growth strategies such as investing in technological innovation to compete in the market.
- ABB Ltd.
- Arteche Group
- Baron Power Ltd.
- Danfoss AS
- Eaton Corp. Plc
- Kyocera Corp.
- Schaffner Group
- Schneider Electric SE
- Siemens AG
- TDK Corp.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Harmonic Filter Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.73% |
Market growth 2021-2025 |
USD 223.66 million |
Market structure |
Fragmented |
YoY growth (%) |
3.45 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 43% |
Key consumer countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ABB Ltd., Arteche Group, Baron Power Ltd., Danfoss AS, Eaton Corp. Plc, Kyocera Corp., Schaffner Group, Schneider Electric SE, Siemens AG, and TDK Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/
SOURCE Technavio
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