PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629215
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629215
Harmonic Filter Market size was valued at USD 1,102.90 Million in 2023, expanding at a CAGR of 9.19% from 2024 to 2032.
A Harmonic Filter is an electrical device used in power systems to reduce or eliminate harmonic distortion caused by nonlinear loads. Harmonics are unwanted frequencies that are multiples of the fundamental frequency such as 50 Hz or 60 Hz and can negatively impact the performance, efficiency, and safety of electrical systems.
Harmonic Filter Market- Market Dynamics
Increasing demand for power quality improvement and energy grids for efficiency are expected to propel market demand
As modern industries increasingly rely on sensitive electronic equipment, the need for high-quality power supply is critical. Harmonic filters mitigate harmonic distortion caused by nonlinear loads such as variable frequency drives (VFDs), UPS systems, and industrial machinery, ensuring the smooth operation of equipment and reducing downtime, boosting the market demand. Governments and regulatory bodies have established stringent standards for harmonic distortion limits in power systems. Compliance with these standards, such as IEEE 519 and IEC 61000, is pushing industries to adopt harmonic filters to avoid penalties and ensure operational integrity.
Reducing energy losses is a top priority for businesses to lower operational costs and carbon footprints. Harmonic filters enhance energy efficiency by minimizing harmonic-induced power losses, contributing to their increasing demand in energy-intensive industries. With the rapid growth in renewable energy sources like wind and solar power, harmonic distortion has become a common issue due to the integration of power inverters. Harmonic filters are crucial for maintaining grid stability and ensuring the compatibility of renewable energy with existing power infrastructure. The expansion of industrial automation across manufacturing, oil & gas, mining, and other sectors has led to the proliferation of electrical devices that introduce harmonics into the power system. Harmonic filters help maintain operational efficiency and prolong the lifespan of critical equipment, driving their adoption in automated environments.
Harmonic Filter Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 9.19% over the forecast period (2024-2032)
Based on Phase segmentation, the three-phase segment was predicted to show maximum market share in the year 2023, owing to their grater operational efficiency.
Based on Product segmentation, passive harmonic filter segment was the leading Product in 2023, due to its high applications in transformers, UPS, and other devices.
Based on End User segmentation, industrial segment was the leading End User segment in 2023, due to high demand for electronic devices in the industrial sector.
On the basis of region, North America was the leading revenue generator in 2023, owing to presence of established industrial facilities.
The Global Harmonic Filter Market is segmented on the basis of Phase, Product, End User, and Region.
The market is divided into two categories based on Phase: single phase and three-phase. The three-phase segment dominates the market. The growing awareness about energy efficiency need for power quality is supplementing the demand for the three-phase harmonic filters.
The market is divided into three categories based on the Product: active, passive, and hybrid. The passive harmonic filters segment held the largest share as they are cost-effective and highly preferred in fixed frequency & UPS applications.
The market is divided into three categories based on End User: industrial, commercial and residential. The industrial segment dominates the market and is expected to maintain its high dominance during the forecast period. The increasing adoption of devices such as computers, CPUs, and others for industrial operation is driving the demand for harmonic filters, boosting segment growth.
Harmonic Filter Market- Geographical Insights
Worldwide, the Harmonic Filter market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America is a major market for Harmonic Filters. North America is a mature market for harmonic filters, primarily driven by stringent power quality standards and a high level of industrial automation. The U.S. is a major contributor, with significant investments in upgrading electrical infrastructure. Europe's harmonic filter market is bolstered by its focus on energy efficiency, smart grid integration, and renewable energy adoption. Asia Pacific is the fastest-growing region for harmonic filters, fueled by rapid industrialization, urbanization, and infrastructure development.
The Harmonic Filter market is moderately competitive in nature. Market players such as ABB Ltd., Schneider Electric, Siemens AG, Eaton Corporation, and Danfoss A/S dominate with extensive portfolios and strong R&D capabilities in the global market. Strategic collaborations and acquisitions are shaping the market. Key players are forming alliances to expand geographically and integrate advanced technologies. For instance, Danfoss and ABB have emphasized their partnerships in the renewable energy and industrial automation sectors, fostering innovation in harmonic filtration. The Asia-Pacific region is expected to potential growth opportunities due to rapid industrialization and renewable energy projects in countries like China and India.
In 2023, Danfoss launched the Advanced Active Filter AAF 007 by integrating cutting-edge silicon carbide technology.
In 2023, Powerside introduced the PowerAct Hybrid Harmonic Filter and PQ Edge Power Analyzer, enhancing system reliability and grid performance.