Global Harmonic Filter Market Size, Market Evolution in the Digital Age 2024-2032

Harmonic Filter Market Size And Forecast

Harmonic Filter Market size was valued at USD 1,123.32 Million in 2022 and is projected to reach USD 1,819.55 Million by 2030, growing at a CAGR of 6.17% from 2024 to 2030.

Government regulations, increased demand from IT and data centers, expanding end-user acceptance of variable frequency, rising demand for power quality, and awareness of the possible harm from harmonics are some of the key drivers propelling the Harmonic Filter Market globally. The market for harmonic filters has grown dramatically as a result of the increasing use of harmonic filters in commercial and industrial settings, including variable speed motor drives (VSDs), power converters, light dimmers, and fluorescent lamps. The Global Harmonic Filter Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Harmonic Filter Market Definition

Harmonics are voltages or currents that occur in electrical power circuits at fundamentally different frequencies. It’s usually referred to as power line noise. Voltage harmonics and current harmonics are two different types of harmonics that exist in the power system. But employing a harmonic filter to remove harmonics from power systems is crucial; otherwise, the power connection must be redesigned to regulate nonlinear loads.

A harmonic filter is a device that is used to moderate, reduce harmonics in a power system to reasonable levels. At crucial working circuit locations, this harmonic filter is designed to lessen or completely remove harmonic resonance and distortion. Usually, excessive currents flowing into and out of appliances cause harmonic distortion. A harmonic filter minimizes operation and operating expenses while preventing extremely high harmonics from causing equipment damage. In order to prevent component damage or utility provider fines, these are employed in a variety of industries including HVAC, oil, gas, mining, and wastewater.

The harmonic filter can be built using a variety of electronic parts, such as resistors, capacitors, and inductors, to stop extra harmonic currents from being sent to the ground. These filters are primarily made to stop particular frequency harmonics. Harmonic filters come in active and passive varieties. The elements employed in the filter design for these two differ significantly from one another. While the passive harmonic filter uses various passive components like resistors, capacitors, and inductors, the active harmonic filter makes use of active components like ICs, BJTs, IGBTs, and MOSFETs.

Global Harmonic Filter Market Overview

The global Harmonic Filter Market has evolved significantly over the past few decades. The market was initially driven by the need to improve power quality in industrial applications. However, the market has since expanded to include a broader range of applications, such as commercial, residential, and renewable energy. The parent market of the global Harmonic Filter Market is the power quality market. Power quality solutions encompass a range of technologies and products designed to ensure a stable and high-quality electrical power supply, which includes addressing issues like voltage fluctuations, sags, surges, and harmonics.

Harmonic filters are a specific power quality solution that mitigates harmonic distortions. The power quality market is concerned with the delivery of electricity that is free from distortions and disturbances. Harmonic filters are one of the many solutions that can be used to improve power quality. The recent developments in the global Harmonic Filter Market include the development of new technologies, such as active and hybrid harmonic filters. These new technologies offer improved performance and efficiency over traditional passive harmonic filters.

The Harmonic Filter Market evolved in response to the growing concern about power quality issues caused by harmonics in electrical systems. Harmonics, unwanted frequency components of electrical signals, can lead to equipment malfunctions, increased energy consumption, and disruptions in power distribution networks.

Global Harmonic Filter Market Segmentation Analysis

The Global Harmonic Filter Market is Segmented on the basis of Type, Voltage Level, And Geography.

Harmonic Filter Market, By Type

• Active
• Passive

To Get a Summarized Market Report By Type:-

Based on Type, the market is segmented into Active and Passive. Active accounted for the largest market share of 42.88% in 2022, with a market value of USD 481.71 Million, and is projected to grow at the highest CAGR of 6.24% during the forecast period.

Harmonic Filter Market, By Voltage Level

• Low Voltage
• Medium Voltage
• High Voltage

To Get a Summarized Market Report By Voltage Level:-

Based on the Voltage Level, the market is segmented into Low Voltage, Medium Voltage, and High Voltage. Low Voltage accounted for the largest market share of 59.63% in 2022, with a market value of USD 669.81 Million, and is projected to grow at the highest CAGR of 6.87% during the forecast period.

Harmonic Filter Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

To Get a Summarized Market Report By Geography:-

On the basis of Regional Analysis, the Global Harmonic Filter Market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia-Pacific accounted for the largest market share of 39.23% in 2022, with a market value of USD 440.68 Million, and is projected to grow at the highest CAGR of 6.63% during the forecast period.

Key Players

The “Global Harmonic Filter Market” study report will provide valuable insight with an emphasis on the global market.  The major players in the market are ABB Ltd, LPINZ, Schneider Electric, Mirus International, Eaton, Enspec Power Ltd, Larsen & Toubro Ltd, Schaffner Holdings AG, Comsys AB, Siemens AG, MTE Corporation, CC Power and Industrial Solutions Ltd., AVX Corporation, TDK Corporation, Arteche, and others.

Our market analysis includes a section specifically devoted to such major players, where our analysts give an overview of each player’s financial statements, along with product benchmarking and SWOT analysis. Key development strategies, market share analysis, and market positioning analysis of the aforementioned players globally are also included in the competitive landscape section.

Key Developments

• A third-generation DPM active harmonic filter that may be used with high-frequency current sensors to continuously monitor the load current was released by Mesta Electronics, Inc. in January 2019.
• In order to meet the demands of industrial and commercial applications, MTE Corporation introduced line extensions for matrix AP harmonic filters and sinewave guardian filters in October 2018. These products can run at 600V and provide great power efficiency and performance.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Harmonic Filter Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Harmonic Filter Market, gauge the attractiveness of a certain sector, and assess investment possibilities.