Harmonic Filters Market is expanding over the duration starting from 2013 and ending in 2019 is 12.8%
A report by Transparency Market Research on the harmonic filters in India market for finds these to be the key companies operating in it – Schneider Electric India, ABB India Ltd., Schaffner Group, Emerson Network Power (India) Pvt. Ltd., and Neowatt Power Solutions Co. Pvt. Ltd. As per the report, the CAGR at which the market has been expanding over the duration starting from 2013 and ending in 2019 is 12.8%. It valued the market at US$81.1 million in 2012.
The report bifurcates the market for harmonic filters in India broadly into passive and active filters. Between the two, the market for active filters has been growing at a greater pace because of the rising knowledge about their benefits over their passive counterparts in achieving greater harmonic mitigation and stability in voltage. Depending upon the level of voltage in harmonic filters, the report classifies the market into medium, low, and high voltage. Of them, harmonic filters with low voltage are mostly being used nowadays. However, the high and medium voltage harmonic filters are also seeing rapid uptake thereby denting the market share of the former.
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Proliferation of Power-based Equipment Augurs Well for Market
At its most basic, a harmonic filter finds application in mitigating harmonic distortions resulting from appliances and equipment which are non-linear load. With the proliferation of power based electronic equipment, it has become necessary to bring accomplish power quality. Adds the lead analyst of our report, “The severity of power quality in power networks has prompted the usage of harmonic filters that not just lessen current and voltage harmonics, but also regulate terminal voltage and enhances voltage balance in three phase systems.”
Industrial Sector at Forefront of Driving Demand
At the forefront of driving growth in the India market for harmonic filters is the pressing requirement for power quality in various verticals, namely automotive, industrial, data center, oil and gas, and IT. Further, surging uptake of variable frequency drives creating harmonics in both industrial and commercial applications is expected to support the growth of harmonic filters. Currently, the industrial sector is the main generator of demand in the market and is trailed by the IT and data center segment. The latter is growing at the fastest clip because of their increasing need for power quality. This has resulted in usage of harmonic filters in UPS, high end machines, routers, servers, and HVAC systems.
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Lack of Knowledge of Products Dampens Uptake in Market
Despite so many factors boosting growth in the market, dearth of awareness about the products and their steep costs have served to dampen sales. Yet another factor proving harmful for revenue growth is the availability of substitutes. Nevertheless, the market is expected to remain on a steady growth trajectory because of the rising demand for bringing about optimum power quality in IT and data center applications. In addition, government regulations and penalties imposed by utilities are expected to increase adoption of harmonic filters in India.
This review is based on the findings of a TMR report, titled, “India Harmonic Filter Market (Type – Active Harmonic Filter and Passive Harmonic Filter; Voltage Level – Low Voltage, Medium Voltage, and High Voltage; Application – Industrial (Manufacturing, Pulp and Paper, and Metal Processing), IT and Data Center, Oil and Gas, and IT and Data Center) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024.”