Advanced Harmonic Filters Market
Advanced Harmonic Filters Market Forecasts to 2030 - Global Analysis By Type (Active Filters, Hybrid Filters, Passive Filters and Other Types), Application and By Geography
|
Years Covered |
2021-2030 |
|
CAGR (2023 - 2030) |
8.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Advanced Harmonic Filters Market is expected to grow at a CAGR of 8.9% during the forecast period. The term "Advanced Harmonic Filters Market" designates an area of the electrical equipment and power quality market that deals with the production, exploitation, and use of advanced harmonic filters. The purpose of these filters is to reduce and manage harmonic distortion in electrical circuits. In order to reduce or completely eliminate harmonic distortion, advanced harmonic filters are specialized equipment or systems that are connected into electrical networks. To ensure that the power provided to connected devices is of higher quality and complies with set standards, they operate by selectively filtering out the undesired harmonic frequencies.
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%.
Market Dynamics:
Driver:
Stringent power quality standards and growing use of non-linear loads
Harmonic distortion has increased as a result of the expanding usage of non-linear loads in companies, office buildings, and data centers, such as variable-frequency drives (VFDs), LED lights, and power electronics. To preserve power quality, this increases the necessity for improved harmonic filters. Additionally, strict power quality requirements have been established by regulatory agencies and industry standards bodies. The adoption of sophisticated harmonic filters is largely motivated by compliance with these requirements, which guarantees that electrical systems satisfy the necessary quality standards.
Restraint:
High initial expenses and integration complexity
The cost of installing and purchasing advanced harmonic filters might be high. Some businesses could decide against using these solutions because of the high upfront costs, especially for smaller applications. However, power system analysis and technical knowledge are often required for the difficult integration of modern harmonic filters into existing electrical systems. Adoption may be hampered by its complexity.
Opportunity:
Expansion of industrial automation and concerns with energy efficiency
Electronic devices that can be sensitive to harmonic distortions are used in industrial automation. Investments in harmonic mitigation technologies are being made by sectors looking to increase production and efficiency. In electrical systems, harmonic distortions can result in energy losses. Additionally, advanced harmonic filters are employed to minimize these losses and maximize energy use as energy efficiency becomes a priority for companies and utilities.
Threat:
Limited understanding and alternative solutions
Some equipment end-users might not completely understand the advantages of harmonic filters or may disregard the negative effects of harmonic distortion. This lack of knowledge may make adoption more difficult. However, alternative approaches, such as active harmonic filters and passive filters, are available for dealing with power quality problems. The market for advanced harmonic filters may be impacted by the availability of rival technology.
Covid-19 Impact:
Advanced harmonic filters and their component manufacture and delivery were delayed as a result of the pandemic's disruption of worldwide supply chains. Due to this, initiatives were delayed, and it was difficult to meet client demand. Due to the uncertain economic outlook, several sectors reduced capital investments, especially in the early stages of the epidemic. Advanced harmonic filter installation, among other power quality improvement projects, was impacted by this.
The active filters segment is expected to be the largest during the forecast period
Active filters segment is expected to be the largest during the forecast period. Electronic filters, known as "active filters," are used to actively eliminate or reduce harmonic distortion and other problems with power quality in electrical systems. Additionally, active components used in active filters include transistors and operational amplifiers. Active filters, in contrast to passive filters, can actively produce compensating harmonic currents to balance out the undesirable harmonics.
The transmission segment is expected to have the highest CAGR during the forecast period
Transmission segment is expected to have the highest CAGR during the forecast period. Many cutting-edge harmonic filters that are utilized in transmission systems have remote monitoring and control functions. This enables grid operators to keep an eye on their performance, make changes in real time, and proactively deal with power quality problems. Additionally, transmission systems use sophisticated harmonic filters to reduce harmonic distortion and preserve power quality. They are usually deployed at substations or other crucial locations in the transmission network where harmonics have significant consequences.
Region with largest share:
Over the course of the projected period, the Asia Pacific region held the majority of market share as a result of the necessity to address power quality concerns, such as harmonic distortion in electrical systems, as companies grew and updated their operations. Additionally, power quality laws and guidelines were created in several nations in the area, which prompted the use of cutting-edge harmonic filters in order to meet requirements.
Region with highest CAGR:
The Asia Pacific region hold the lucrative growth. In the Asia-Pacific area, a number of nations have made large investments in renewable energy sources, including solar and wind. Advanced harmonic filters were needed to control harmonics and ensure grid stability when these intermittent energy sources were integrated into the grid. Significant expansion in the manufacturing sector in nations like China and India has expanded the use of industrial machinery. Advanced harmonic filters contributed to the upkeep of these machines' performance and decreased downtime.
Key players in the market
Some of the key players in Advanced Harmonic Filters Market include ABB, Arteche, Eaton, LandT, MTE Corporation, NHP, Schaffner and Schneider Electric.
Key Developments:
In October 2023, ABB has announced a partnership with ODS Metering Systems, an independent manufacturer of custody transfer flow measurement solutions, that will see ABB’s Flow-X computers support an increasing number of oil and gas customers with an accurate and reliable automation platform for custody transfer.
In October 2023, ABB and Export Development Canada (EDC), Canada’s export credit agency, have signed a global partnership to promote investments in sustainable technologies and projects in Canada and around the world. The support provided by EDC, with a total limit of up to US$ 2.9 billion, will provide ABB’s customers with financing and insurance solutions to strategic electrification and automation projects in the sectors of clean technologies, advanced manufacturing, digital technologies, and resources of the future.
Types Covered:
• Active Filters
• Hybrid Filters
• Passive Filters
• Other Types
Applications Covered:
• Distribution
• Transmission
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Advanced Harmonic Filters Market, By Type
5.1 Introduction
5.2 Active Filters
5.3 Hybrid Filters
5.4 Passive Filters
5.5 Other Types
6 Global Advanced Harmonic Filters Market, By Application
6.1 Introduction
6.2 Distribution
6.3 Transmission
6.4 Other Applications
7 Global Advanced Harmonic Filters Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 ABB
9.2 Arteche
9.3 Eaton
9.4 LandT
9.5 MTE Corporation
9.6 NHP
9.7 Schaffner
9.8 Schneider Electric
List of Tables
1 Global Advanced Harmonic Filters Market Outlook, By Region (2021-2030) ($MN)
2 Global Advanced Harmonic Filters Market Outlook, By Type (2021-2030) ($MN)
3 Global Advanced Harmonic Filters Market Outlook, By Active Filters (2021-2030) ($MN)
4 Global Advanced Harmonic Filters Market Outlook, By Hybrid Filters (2021-2030) ($MN)
5 Global Advanced Harmonic Filters Market Outlook, By Passive Filters (2021-2030) ($MN)
6 Global Advanced Harmonic Filters Market Outlook, By Other Types (2021-2030) ($MN)
7 Global Advanced Harmonic Filters Market Outlook, By Application (2021-2030) ($MN)
8 Global Advanced Harmonic Filters Market Outlook, By Distribution (2021-2030) ($MN)
9 Global Advanced Harmonic Filters Market Outlook, By Transmission (2021-2030) ($MN)
10 Global Advanced Harmonic Filters Market Outlook, By Other Applications (2021-2030) ($MN)
11 North America Advanced Harmonic Filters Market Outlook, By Country (2021-2030) ($MN)
12 North America Advanced Harmonic Filters Market Outlook, By Type (2021-2030) ($MN)
13 North America Advanced Harmonic Filters Market Outlook, By Active Filters (2021-2030) ($MN)
14 North America Advanced Harmonic Filters Market Outlook, By Hybrid Filters (2021-2030) ($MN)
15 North America Advanced Harmonic Filters Market Outlook, By Passive Filters (2021-2030) ($MN)
16 North America Advanced Harmonic Filters Market Outlook, By Other Types (2021-2030) ($MN)
17 North America Advanced Harmonic Filters Market Outlook, By Application (2021-2030) ($MN)
18 North America Advanced Harmonic Filters Market Outlook, By Distribution (2021-2030) ($MN)
19 North America Advanced Harmonic Filters Market Outlook, By Transmission (2021-2030) ($MN)
20 North America Advanced Harmonic Filters Market Outlook, By Other Applications (2021-2030) ($MN)
21 Europe Advanced Harmonic Filters Market Outlook, By Country (2021-2030) ($MN)
22 Europe Advanced Harmonic Filters Market Outlook, By Type (2021-2030) ($MN)
23 Europe Advanced Harmonic Filters Market Outlook, By Active Filters (2021-2030) ($MN)
24 Europe Advanced Harmonic Filters Market Outlook, By Hybrid Filters (2021-2030) ($MN)
25 Europe Advanced Harmonic Filters Market Outlook, By Passive Filters (2021-2030) ($MN)
26 Europe Advanced Harmonic Filters Market Outlook, By Other Types (2021-2030) ($MN)
27 Europe Advanced Harmonic Filters Market Outlook, By Application (2021-2030) ($MN)
28 Europe Advanced Harmonic Filters Market Outlook, By Distribution (2021-2030) ($MN)
29 Europe Advanced Harmonic Filters Market Outlook, By Transmission (2021-2030) ($MN)
30 Europe Advanced Harmonic Filters Market Outlook, By Other Applications (2021-2030) ($MN)
31 Asia Pacific Advanced Harmonic Filters Market Outlook, By Country (2021-2030) ($MN)
32 Asia Pacific Advanced Harmonic Filters Market Outlook, By Type (2021-2030) ($MN)
33 Asia Pacific Advanced Harmonic Filters Market Outlook, By Active Filters (2021-2030) ($MN)
34 Asia Pacific Advanced Harmonic Filters Market Outlook, By Hybrid Filters (2021-2030) ($MN)
35 Asia Pacific Advanced Harmonic Filters Market Outlook, By Passive Filters (2021-2030) ($MN)
36 Asia Pacific Advanced Harmonic Filters Market Outlook, By Other Types (2021-2030) ($MN)
37 Asia Pacific Advanced Harmonic Filters Market Outlook, By Application (2021-2030) ($MN)
38 Asia Pacific Advanced Harmonic Filters Market Outlook, By Distribution (2021-2030) ($MN)
39 Asia Pacific Advanced Harmonic Filters Market Outlook, By Transmission (2021-2030) ($MN)
40 Asia Pacific Advanced Harmonic Filters Market Outlook, By Other Applications (2021-2030) ($MN)
41 South America Advanced Harmonic Filters Market Outlook, By Country (2021-2030) ($MN)
42 South America Advanced Harmonic Filters Market Outlook, By Type (2021-2030) ($MN)
43 South America Advanced Harmonic Filters Market Outlook, By Active Filters (2021-2030) ($MN)
44 South America Advanced Harmonic Filters Market Outlook, By Hybrid Filters (2021-2030) ($MN)
45 South America Advanced Harmonic Filters Market Outlook, By Passive Filters (2021-2030) ($MN)
46 South America Advanced Harmonic Filters Market Outlook, By Other Types (2021-2030) ($MN)
47 South America Advanced Harmonic Filters Market Outlook, By Application (2021-2030) ($MN)
48 South America Advanced Harmonic Filters Market Outlook, By Distribution (2021-2030) ($MN)
49 South America Advanced Harmonic Filters Market Outlook, By Transmission (2021-2030) ($MN)
50 South America Advanced Harmonic Filters Market Outlook, By Other Applications (2021-2030) ($MN)
51 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Country (2021-2030) ($MN)
52 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Type (2021-2030) ($MN)
53 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Active Filters (2021-2030) ($MN)
54 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Hybrid Filters (2021-2030) ($MN)
55 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Passive Filters (2021-2030) ($MN)
56 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Other Types (2021-2030) ($MN)
57 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Application (2021-2030) ($MN)
58 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Distribution (2021-2030) ($MN)
59 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Transmission (2021-2030) ($MN)
60 Middle East & Africa Advanced Harmonic Filters Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
List of Figures
Figure 1 Global Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 2 North America Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 3 US Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 4 Canada Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 6 Europe Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 7 Germany Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 8 UK Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 9 Italy Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 10 France Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 11 Spain Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 14 Japan Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 15 China Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 16 India Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 17 Australia Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 21 South America Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 24 Chile Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 28 UAE Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Advanced Harmonic Filters Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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