Pune, Maharashtra -- (SBWIRE) -- 11/20/2017 -- Global harmonic filter market is estimated to reach $1,212 million by 2024; growing at a CAGR of 6.5% from 2016 to 2024. Harmonics are created in the electrical power system owing to the occurrence of non-linear loads such as drives in the system. Harmonic filters are mainly used for the suppression of the effect of harmonics in an electric system. Moreover, these filters also help in controlling of the continuous harmonic alterations in electronic appliances. Harmonic filters are used in various industrial sectors which includes oil & gas, industrial, automotive, IT and others. Growing demand for stable appliances and high demand for efficient functioning of industrial facilities are showing increased harmonic filter market trends.

Growing demand for power quality from various sectors which includes aircraft, medical, IT and others and high adoption of variable frequency drives are boosting the growth of the global harmonic filters market. Though, availability of alternatives and high cost of these filters may hamper the growth of the market. Furthermore, elevation demand from data centers and IT is expected to provide growth opportunities in coming years.

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The global harmonic filter market is categorized into voltage level, type, end user and geography. By voltage level, the market is segmented into high voltage harmonic filters, medium voltage harmonic filters and low voltage harmonic filters. By type, the market is further divided passive harmonic filters (de-tuned passive harmonic filters and tuned passive harmonic filters) and active harmonic filters. By end user, the market is classified into automotive, IT & data centers, industrial, oil & gas, and others.

Based on geography, the global harmonic filter market has been segmented into North America, Europe, Asia-Pacific and RoW. The U.S. and Others are covered under North America wherein Europe covers Germany, UK, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.

Major companies operating in the harmonic filter market are Emerson Electric Co., ABB Ltd., Schneider Electric SE, Crompton Greaves Ltd., MTE Corp., TDK Corp., Schaffner Holding AG, Baron Power Ltd., Eaton Corp. Plc, and Comsys AB, among others

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The key takeaways from the report

- The report will provide detailed analysis of the Harmonic Filter Market with respect to major segments such as voltage level type, type and end user

- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024

- Comprehensive analysis of market dynamics including factors and opportunities of the Harmonic Filter Market

- An exhaustive regional analysis of Harmonic Filter Market from 2015 to 2014 has been included in the report

- Profile of the key players in the Harmonic Filter Market, will be provided, which include key financials, product & services, new developments and business strategies

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