The market for active type harmonic filters is expected to grow at the highest CAGR by 2023

Active filters not only eliminate harmonics in a power signal but also offer other capabilities, such as the elimination of voltage and current harmonics, improving the power factor of rectifiers, AC and DC drives, and UPS, reactive power compensation, regulation of terminal voltage, and compensation for voltage flickering.

According to the MarketsandMarkets’ forecast, the harmonic filter market is projected to reach USD 1.12 Billion by 2023, growing at a CAGR of 6.65% between 2017 and 2023. The growth of the market can be attributed to the increasing demand for harmonic filters from industrial and commercial sectors. Both active and passive types of harmonic filters are increasingly used in industrial, commercial, and residential applications.

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Based on voltage level, the low voltage harmonic segment is expected to grow at the highest CAGR of 6.99% during the forecast period. In addition, this segment is estimated to account for the largest share by 2023. The high growth rate of the low voltage harmonic segment is due to the use of these filters in power transmission, distribution as well as in various manufacturing and process industries.

Among end-users, industrial segment accounted for the largest share of the harmonic filter market in 2016. Industrial facilities are the major producers of harmonic currents, as machines generally operate at a very high voltage. Several industries, such as manufacturing, metal processing, automotive, and oil & gas, involve some form of power conversion to run processes that use variable speed drives. Harmonic filters are used for a large number of industrial end uses, such as manufacturing, oil & gas, paper & pulp, and metal processing.

In 2016, the APAC held the largest share of the harmonic filter market. Moreover, this market in APAC is expected to grow at the highest CAGR between 2017 and 2023. This is due to the growth of different industries in the region and the adoption of complex equipment that tends to generate harmonics. Furthermore, APAC is expected to lead the global market, as there are a large number of manufacturing and processing industries in various countries of APAC, especially China, India, Singapore, and South Korea

The 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. These players have adopted various strategies, such as contracts, agreements, partnerships, new product launches, and business expansions to cater to the rising demand for harmonic mitigation across industrial and commercial applications.

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