Increasing dependence on electric power source is expected to propel growth of the tuned passive harmonic filters market.

Seattle, WA -- (SBWire) -- 10/16/2019 --The Tuned Passive Harmonic Filters Market is expected to have a highly positive outlook for the next five years 2018-2026 according to a recently released Keyword Market research report. The report has been added in his large database by Coherent Market Insights.

Passive harmonic mitigation systems or devices are used for power factor correction and have several advantages such as low power losses, better system performances, and better power efficiency, in addition to low cost over active filters. However, owing to these aforementioned factors, passive filters have found extensive applications in almost every electric grid and distribution networks. These tuned passive harmonic filters have applications in various end-use industries including food, pulp & paper, refining, exploration, pharmaceuticals, large commercial spaces, electronic industries, and automotive, among others, and this is expected to present considerable growth prospects over the coming years.

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Increasing dependence on electric power source is expected to propel growth of the tuned passive harmonic filters market

According U.S. Energy Information Administration's International Energy Outlook 2016, global industrial consumption of electrical energy as a power source is expected to grow from 31.9 quadrillion British Thermal Units (Btu) in 2012 to 40.0 Btu in 2025. Moreover, OECD countries are expected to witness an annual average change of 0.7% and non-OECD countries of 1.6% in the duration of 2012–2040. Furthermore, increasing utilization of renewable energy sources for electricity generation is among the prominent trends gaining traction, in order to reduce environmental impacts, which is expected to fuel demand for tuned passive harmonic filters over the forecast period.

Power systems have recurring distortions of current and voltage waveforms, owing to extensive usage of loads that produce currents with higher frequencies. Growing number of non-linear loads in conjunction with substantial surge in demand for electricity has led to introduction of large number of parameters that distort the voltage and can potentially cause malfunction, overheating, and breakdown of the systems utilized in power systems. Requirement to provide consistent supply and avoid potential damage to the end user and power systems is expected to lead to demand for these power factor correction systems and fuel growth of the tuned passive harmonic filters market. These equipment are featured with large sizes of MVAR ratings, maintenance free service, and are economically viable than synchronous condensers. It also offers many advantages for systems that require high starting power, voltage support, and protection in case of source. These features are expected to lead to high adoption of these systems over the forecast period.

According to BP Statistical Review of World Energy 2017, Asia Pacific primary energy consumption in 2016 was over 42% of the global primary energy consumption in terms of million tons of oil equivalent. Moreover, the region is home to countries that include China, India, Japan, South Korea, Taiwan, Australia, and Indonesia that contribute to significant share in the global electricity being produced every year. These countries have some of the major energy intensive industrial activities, and a large population base contributing to high energy consumption. Owing to these factors, Asia Pacific passive tuned harmonic filters market is expected to witness highest growth over the forecast period.

Some of the key players in the global tuned passive harmonic filters market included Eaton Corp, ABB, Comsys AB, Schneider Electric, DELTAUS, Siemens, Crompton Greaves, Emerson Electric, Schaffner Holding, and MTE Corporation.

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The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved. The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities. The report classifies the market into different segments based on technique, application and end-user.

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