According to a market report by Lucintel, the future of the global harmonic filter market looks promising with opportunities in the low, medium, and high markets. The global harmonic filter market is expected to reach an estimated $1.8 billion by 2030 with a CAGR of 6.9% from 2024 to 2030. The major drivers for this market are growing adoption of variable frequency drives (VFDs) in the manufacturing industry, strict legal requirements for energy consumption, and application growth in the commercial and industrial domains.
A more than 150 – page report is developed to understand Trends, opportunity and forecast in harmonic filter market to 2030 by voltage (low, medium, and high), phase (single and three), product (passive, active, and hybrid), end use (industrial, commercial, residential, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
In this market, passive, active, and hybrid are the major segments of harmonic filter market by product. Lucintel forecasts that passive will remain the largest segment over the forecast period due to several industrial applications such as uninterruptible power supply (UPS) and VFDs for motors, rectifiers, transformers, and others.
Within this market, low voltage will remain the largest segment due to usage in wide variety applications, such as power plants, manufacturing industries, harbor cranes, and data centers, and offering optimal performance with low power consumption.
APAC is expected to witness highest growth over the forecast period due to high use of harmonic filters in the energy and electricity and manufacturing sectors, particularly in developing nations like China and India.
ABB, Schneider Electric, Siemens, Emerson Electric, Danfoss, Schaffner Holding, TDK, Eaton, Comsys, and MTE are the major suppliers in the harmonic filter market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]