Metal Enclosed Harmonic Filter Market size is expected to surpass USD 1800 million by the end of 2035, growing at a CAGR of 10% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of metal enclosed harmonic filter was over USD 930 million. The growth of the market can be attributed to the growing adoption of variable frequency drivers that can help save energy in the commercial and manufacturing industry, industrialization of developing countries and rising installations of harmonic filters in power distribution systems, automobiles, and other industries. Further, the numerous benefits of harmonic filters such as reducing operational costs, efficient power, eliminating noise are all anticipated to promote the growth of the market. The use of harmonic filters in EV’s to reduce any harmonic distortion while charging is a growth factor of the market. For instance, the estimated growth in the sales of electric vehicles in India is around 10 million by 2030. With the increase in EV’s, there is a boost to the harmonic filter market that is anticipated to happen in the coming years.
In addition to these, factors that are believed to fuel the market growth of metal enclosed harmonic filter include the rise in demand for electricity in the industrial segments of the developing countries. For instance, the global electricity demand has measured a 6% rise in 2021 and is largest in terms of percentage since 2010. Half of this global growth in electricity demand has been narrowed to China and India (10%) with rising industrialization. Additionally, the growing demand for power quality and reliability is predicted to present the potential for market expansion over the projected period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~10% |
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Base Year Market Size (2022) |
~ USD 930 Million |
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Forecast Year Market Size (2035) |
~ USD 1800 Million |
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Regional Scope |
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Type (Active, Passive, Hybrid Filter)
The global metal enclosed harmonic filter market is segmented and analyzed for demand and supply by type into active, passive and hybrid filters. Out of the three types of metal enclosed harmonic filters, the passive filter segment is estimated to gain the largest market share of about ~62% in the year 2035. The growth of the segment can be attributed to the simple construction and straightforward installation of the passive filters. The passive harmonic filters are known to be more efficient for dealing with harmonic distortion. Series and shunt passive filters are additional categories of the passive harmonic filters. For instance, a research study conducted on the effectiveness of passive harmonic filters on harmonic mitigation on a Steel Mill power system proved as an optimal and economical solution. On the other hand, another study conducted by ABB Ltd, on active and passive harmonic filters included that passive filters are economical, effective even with high power systems.
Voltage Level (Low, Medium, High Voltage)
The global metal enclosed harmonic filter market is also segmented and analyzed for demand and supply by voltage level into low, medium and high. Amongst these three segments, the low voltage level segment is expected to garner a significant share of around ~28% in the year 2035. Low voltage harmonic filters are typically designed in order to eliminate any premature degradation of power system. With distortion created in power systems that lead to improper operations, this can be prevented with low voltage harmonic filter. On the other hand, the reduction in electric bill by about 2.5% and overall reduction of power consumption is projected to be a major factor of market growth. On September 2019, Danfoss India launched and enclosed low harmonic drive with passive filters for better energy consumption and reduction of energy loss. The growing demand for low voltage harmonic filters as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Phase |
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By Voltage Level |
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By Application |
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By End User |
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APAC Market Statistics
The market share of metal enclosed harmonic filter in the Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~54% by the end of 2035. The growth of the market in the region can be attributed majorly to the increasing rate of industrialization, and the rise in number of commercial establishments in the region. In addition to this, the growing investments in IT sector in the region, and the need amongst these IT companies for optimum power supply as well as power supply correctors to lower their equipment maintenance downtime, is also projected to drive the market growth in the region. For instance, a value of about USD 35 billion is estimated to be spent on developing data centers and related infrastructure during 2022-2027 in the China region. Further, the highest rate of adoption of electronic systems, solutions and products in the Asia Pacific regions such as India, China Taiwan, South Korea, Japan, Indonesia, Malaysia, and Sri Lanka among others are also anticipated to contribute to the market growth in the region. In addition, the region's successful integration of renewable energy sources with global investment of USD 250 Billion is also anticipated to boost the market growth during the forecast period.
Europe Market Forecast
The European metal enclosed harmonic filter market, amongst the market in all the other regions, is projected to hold the second largest share of about ~32% during the forecast period. The growth of the market can be attributed majorly to the rising demand for power electronics in the region. Countries such as Germany, UK, and France are in need for better power quality in power systems. With the growing need for renewable energy sources as clean energy, the market is set to grow in the coming years. For instance, it is noted that Europe has set a target of achieving 27% share of total renewable energy mix by 2030. Further, the opportunities of investments in the renewable energy sector along with growth in alternative energy are also anticipated to contribute to the market growth in the region. Spain is expected to be allocating USD 7.8 Billion in renewables, green hydrogen and energy storage in the next two years. In addition, the region's need to create power and electricity with minimum distortions are also anticipated to boost the market growth during the forecast period.
North American Market Forecast
Further, the market in the North America, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing demand for modernized power grids and renewable energy sources. For instance, the United States of America, invested USD 100 Billion to clean energy initiatives. It was also noted that renewable energy production and electric vehicles received the maximum investment share. These factors are also anticipated to contribute to the market growth in the region.
ABB Ltd., won orders worth over $150 million to supply and integrate renewable wind energy form Hornsea Project using controller systems, transformers and harmonic filters. ABB Ability enabled system called MicroSCADA will be used for monitoring the network and ensure reliable and safe grid integration.
Transgrid and Hitachi Energy sign supply contracts for transmission project in Australia. This was an effort to provide reliable power quality solutions in order to improve transmission capacity and increase power flow. Hitachi’s capacitors are to be installed in the transmission network at strategic locations to improve reliability and voltage capacity.
Author Credits: Rushikesh, Richa Gupta
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