The global harmonic filter market is expected to reach a market worth exceeding USD 1.1 billion by 2024 growing at an estimated CAGR of over 7% from 2016 to 2024. Increasing demand for quality power distribution systems coupled with rising usage of variable frequency drives (VDF) for efficient transmission is expected to drive market growth in near future.
Increasing awareness regarding the potential damage from power frequency fluctuations in electrical and heating devices is anticipated to remain a key factor driving industry expansion. Harmonic filters are increasingly used in capacitor banks which find application in heating and electrical appliances.
These capacitors correct the unfiltered harmonic frequencies generated due to fluctuations in voltage or current in electric appliances. Hence, it ensures proper functioning of heating devices. Growing harmonic filter demand in data centers & IT sector is expected to drive product demand over the forecast period.
Growing application in industrial and commercial sectors, such as power converters, fluorescent lamps, light dimmers, and variable speed motor drives (VSDs) have significantly contributed to industry expansion over the past few years. The filters help in controlling continuous harmonic distortions in electronic appliances.
Government and regulatory bodies such as Institute of Electronics and Electrical Engineering (IEEE) have offered a favorable environment for product demand in various electrical equipment. The standard IEEE-Std 519-1992 limits the fluctuations produced in power generating utilities. Determining a harmonic within a stipulated limit at the point of common coupling (PCC) and establishing a demand current at the design state are the challenges covered under this norm.
R&D spending along with IEEE initiatives to offer concise document, clarified PCC, new voltage range, measurement guidance, and inter-harmonics are estimated to provide lucrative opportunities for industry participants in near future.
The application of harmonic filters using adjustable speed drives (ASDs) on two separate platforms is expected to hinder industry growth. It poses a significant threat to the key players involved in high levels of harmonic distortions that affect overall system functionality and efficiency.
By filter types, the market has been segmented into passive, active and hybrid filtering. Passive filters dominated the global demand and accounted for over 70% of the global revenue in 2015 and are expected to continue its dominance in near future. The segment has been further classified into tuned and de-tuned filters.
Extensive adoption of passive filters can be attributed to its advantages over other filters which make it an industry leader. Most standard and traditional filters work at optimum for 100% power load, but performance degrades at lower loads. Passive filter whereas adapts to varying power loads. It comes with a performance guarantee which also enhances the life of electrical equipment. However, active filters are the fastest growing market owing to its low cost, size and weight and no loading problem compared to passive filters.
By voltage level, the industry has been categorized into low, medium and high voltage harmonic filters. Low voltage filters find significant application in power plants and various industries such as harbor cranes and lifts. High voltage filters are used in shunt capacitor bank, SVCs, industrial & commercial buildings, and power industry. Growing concern towards fluctuations is expected to drive harmonic filter market over the next nine years.
Harmonic filters find application in a wide host of end-use industries including automotive, industrial, data center & IT, oil & gas, and water treatment. Increasing demand for stable appliances and efficient functioning of industrial facilities is anticipated to drive the industry growth across all sectors over the long term.
North America harmonic filters market dominated the global demand in 2015. Increasing consumer awareness coupled with stringent government regulations regarding electrical equipment is expected to drive product demand in the region over the next eight years.
Asia Pacific is predicted to rise as the fastest growing market over the forecast period. Economies including India, China, and Japan, have witnessed growth in various sectors including automotive, IT and oil & gas. Increasing concern towards power tariffs and voltage fluctuations are expected to drive market growth in the region over the forecast period.
Stringent regulatory standards regarding energy consumption coupled increasing requirement for quality energy systems is anticipated to drive market growth in the European market. Countries including Germany, France and UK are expected to be the major contributors to industry growth in the region.
Key players in the sector include Baron Power Ltd, Zhangzhou Kehua technology Co. Ltd, Anhui Tongfeng Electronics Ltd., ABB India Ltd., Schaffner Group and Schneider Electric. Among the major players, Schaffner Group offers ECOsine harmonic filters which are designed for operating on the input side of power electronic equipment. The screen is equipped with six-pulse rectifier front ends in balanced three-phase power. These filters are not designed for single-phase or split phase applications.
Other initiatives undertaken by key industry participants include new product innovation, improved transmission efficiency, and multi-device compatibility. These strategies allow industry participants to have a competitive edge over their counterparts and enhance the overall portfolio.
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