The low voltage harmonic segment is expected to grow at the highest CAGR: Harmonic Filter Market

According to the new market research report "Harmonic Filter Market by Type (Active, and Passive), Voltage Level (Low Voltage Harmonic, Medium Voltage Harmonic, and High Voltage Harmonic), Phase, End User, and Region - Global Forecast to 2023", The harmonic filter market is estimated to reach USD 1.12 Billion by 2023, growing at a CAGR of 6.65% between 2017 and 2023.

Low voltage harmonic filters find application in various manufacturing and process industries, power plants, and harbor cranes. Therefore, based on voltage level, the low voltage harmonic segment led the harmonic filter market in 2016. Furthermore, this segment is expected to grow at the highest CAGR during the forecast period.

“APAC estimated to account for the largest share of the harmonic filter market in 2023”

The APAC region is estimated to account for the largest share of the harmonic filter market in 2023. This can be attributed to a large number of manufacturing and processing industries in the APAC region, especially in countries, such as China, India, Singapore, and South Korea. Manufacturing and processing industries require harmonic filters to maintain smooth operations of machines in these sectors.

The major players in this market are ABB Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation Plc (Ireland), Danfoss A/S (Denmark), and Schaffner Holding AG (Switzerland), among others.

To estimate the size of the harmonic filter market, top players in the market and their market shares have been considered in this report. This research study involves extensive use of secondary sources, such as annual and financial reports of top players, presentations, press releases, journals, paid databases, and interviews with industry experts. The research methodology is explained below:

• Analyzing the overall size of the individual markets through percentage split with the help of primary and secondary research
• Analyzing several market segments and subsegments
• Analyzing supply and demand sides of the harmonic filter market ecosystem
• Analyzing market trends in various regions and countries, supported by the ongoing research and development in these regions
• Finalizing overall market sizes by triangulation with supply-side data, which includes product development, supply chain, and estimated sales in the harmonic filter market

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