Seattle, WA -- (SBWIRE) -- 09/20/2019 -- The current in an ideal AC power grid is pure sinusoidal wave, however, in reality the current contains harmonics of multiple orders that reduce the efficiency and usability of the electric energy. Low harmonic drives are the systems that are used to reduce the harmonic distortions introduced in the supply lines and provide power outputs that are relatively safer for general and critical applications.
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Simplicity of deployment and high level of harmonic reduction over multi pulse solutions is expected to garner high adoption rates
Industry participants that provide these solutions provide factory tested integrated solutions that do not require additional hardware or costs, which enhances the simplicity of installations. Moreover, these are compact and do not require additional power wiring and contribute to significant space savings in the space where they are installed. These systems do not require additional dedicated transformers and are featured with low losses, unity power factor, robust performance, high overall efficiency. These factors are expected to provide high traction to the low harmonic drives market over the forecast period.
Low Harmonic Drives Market Taxonomy
On the basis of product type, the global low harmonic drives market is classified into:
- Low voltage drives
- Medium voltage drives
On the basis of components, the global low harmonic drives market is classified into:
- Input section with breakers
- Active supply unit with line filters
- Control unit
- Motor inverter
- Others
On the basis of end use industries, the global low harmonic drives market is classified into:
- Oil & Gas
- Food & beverage
- Water and wastewater treatment
- Mining
- HVAC
- Pulp & Paper
- Others (Pumps, fans, compressors and conveyors)
Increasing demand for effective power utilization and decrease in power loss is expected to boost the market growth
Key players and organizations participating in the market are focused on investing in efficient industrial products and equipment, owing to high demand for reduction in cost of electricity consumption. Moreover, the need to restrict consumption of electricity without impacting the energy efficiency is expected to boost growth of the low harmonic drive market.
Moreover, presence of variable stringent regulations associated with power consumption in different regions worldwide is also expected to propel growth of the market. For instance, National People's Congress (NPC) the 12-5 Plan in China, EPA Power Sector Regulations in U.S., and Electricity Industry Act 2010 in New Zealand are some of the few directives that regulate electricity consumption.
However, high switching costs for end users is expected to restrict the market growth over the forecast period.
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Oil & Gas end use industry segment held dominant position in the market in 2016
Annexation of oil exploration activities such as shale related and offshore explorations are expected to garner high utilizations over the next few years. Moreover, increasing production of renewable energy is also expected to offer lucrative growth opportunities for the market players.
The market in Europe is driven by factors such as increasing use of gasoline, low prices of pumps, and relaxation in diesel and gasoline taxes in the region. Presence of large number of hydrocarbons in Russia is also expected to propel the market growth and help maintain dominant position in the global market. Asia Pacific is expected to witness significant market growth, owing to increasing demand for manufacturing activities in the region.
Chief players in the low harmonic drive market include ABB, Danfoss, Eaton, Rockwell and Schneider Electric. Industry presence is moderately consolidated with several regional players competing with the multinational players. Participants are expected to adopt M&A, and innovative product launches for the propagation of their market shares over the next few years. For instance, in July 2017, Schneider Electric introduced Altivar ATV980 & ATV680 Drives which was featured as the world's first three level low harmonic drive.
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