Research Nester has released a report titled “Metal Enclosed Harmonic Filter Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global metal enclosed harmonic filter market in terms of market segmentation by type, phase, voltage level, application, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global metal enclosed harmonic filter market is segmented by type into active, passive and hybrid filter, out of which, the passive filter segment registered the largest market share of 54.16% in the year 2019 as these filters were preferred in earlier days to compensate harmonics on account of its simple structure and easy installations. The passive filter segment accounted for a value of USD 342.16 million in the year 2019 and grow at a CAGR of 5.99% during the forecast period, i.e. 2020-2028. The segment is anticipated to gain an incremental $ opportunity of USD 10.3 million in the year 2020 as compared to the previous year and further an absolute $ opportunity of USD 107.2 million by growing at 1.6x during the forecast period.
The global metal enclosed harmonic filter market, which registered a value of USD 631.78 million in the year 2019, is anticipated to gain a CAGR of 5.20% across the globe over the forecast period owing to the growing adoption of variable frequency drivers in the commercial and manufacturing industry, growing industrialization in the developing countries worldwide, for instance the US, China, Australia, Germany, India, and various others, rising installations of harmonic filters in power distribution systems, coupled with the numerous benefits associated with metal enclosed harmonic filters, such as reducing overall operating costs by efficient use power, reducing the risk of operational downtime from overloading, premature plant failure, and nuisance tripping among others. The global metal enclosed harmonic filter market is also anticipated to register an incremental $ opportunity of USD 32.85 million in the year 2020 as compared to the previous year and gain an absolute $ opportunity of USD 332.4 million by growing at 1.5x during the forecast period.
Regionally, the global metal enclosed harmonic filter is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa. The market in Asia Pacific registered the largest market share of 47.49% in the year 2019 owing to the region growing as the global data center hub, which is requiring data center operators to deploy metal enclosed harmonic filters and the increasing automotive industry in the nations such as China, India and others. Additionally, the market in Asia Pacific is anticipated to gain an incremental $ opportunity of USD 16.36 million in the year 2020 as compared to the previous year and gain an absolute $ opportunity of USD 167.39 million by growing at 1.53x during the forecast period.
Increasing Industrialization in Developing Countries
There is a growing demand for electricity in the industrial sectors of the developing countries which is raising the need for the installation of metal enclosed harmonic filters with various voltage ranges. Harmonic filters are known to improve the performance of the equipment and enhance the system's capacity in industries such as utility and commercial power systems. Moreover, harmonic filters are also used for eliminating electrical disturbances and harmonics. The growing demand for electricity in the industrial sectors of the developing countries is therefore anticipated to drive the growth of the metal enclosed harmonic filters market.
However, lack of awareness for metal enclosed harmonic filters among the small and medium enterprises is expected to hamper the growth of the metal enclosed harmonic filters market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global metal enclosed harmonic filters market, which includes company profiling of ABB Ltd. (SWX: ABBN), Siemens AG (ETR: SIE), General Electric Company (NYSE: GE), CG Power and Industrial Solutions Limited (NSE: CGPOWER), Eaton Corporation plc (NYSE: ETN), Baron Power Limited, Northeast Power Systems, Inc., Arteche Group, Controllix Corporation, and AZZ Inc. (NYSE: AZZ). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global metal enclosed harmonic filters market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.