LONDON, June 14, 2017 /PRNewswire/ -- Highlights
· The harmonic filter market is projected to grow at a CAGR of 6.65% between 2017 and 2023
· According to the new market research report, the harmonic filter market is projected to grow from USD 0.70 billion in 2016 to USD 1.12 billion by 2023, at a CAGR of 6.65% between 2017 and 2023.
· The key reason fueling the growth of the market is the need to eliminate the harmonic distortion caused by nonlinear loads.
· Harmonics in power systems result in increased heating of equipment and conductors, misfiring in variable speed drives, and torque pulsations in motors.
· Based on type, the passive segment is expected to lead the harmonic filter market between 2017 and 2023
· The cost of Passive Harmonic Filter (PHF) is lower than Active Harmonic Filter (AHF), as the former is built using passive network elements, such as resistors, capacitors, and inductors.
· The harmonic filter market in APAC is expected to grow at the highest CAGR during the forecast period
· The harmonic filter market has been studied for North America, Europe, APAC, and RoW.
"The harmonic filter market is projected to grow at a CAGR of 6.65% between 2017 and 2023"
According to the new market research report, the harmonic filter market is projected to grow from USD 0.70 billion in 2016 to USD 1.12 billion by 2023, at a CAGR of 6.65% between 2017 and 2023. The key reason fueling the growth of the market is the need to eliminate the harmonic distortion caused by nonlinear loads. Harmonics in power systems result in increased heating of equipment and conductors, misfiring in variable speed drives, and torque pulsations in motors. Thus, reduction of harmonics using filters is crucial across industrial and commercial sectors.
"Based on type, the passive segment is expected to lead the harmonic filter market between 2017 and 2023"
The cost of Passive Harmonic Filter (PHF) is lower than Active Harmonic Filter (AHF), as the former is built using passive network elements, such as resistors, capacitors, and inductors. In the present scenario, PHF is most commonly used to control the flow of harmonic currents. PHFs offer a plug-and-play approach with more compact dimensions, which is one of their major advantages over AHFs.
"The harmonic filter market in APAC is expected to grow at the highest CAGR during the forecast period"
The harmonic filter market has been studied for North America, Europe, APAC, and RoW. The market in APAC is expected to grow at the highest rate between 2017 and 2023. This can be attributed to the growth of different industries in the region and the adoption of complex equipment that tend to generate harmonics.
Major players in the harmonic filter market are ABB Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation Plc (Ireland), Danfoss A/S (Denmark), and Schaffner Holding AG (Switzerland), among others.
Download the full report: https://www.reportbuyer.com/product/4937591/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article