Harmonic filter market in India is projected to grow at an impressive CAGR of over 10% during the forecast period due to surging demand for power quality in various end user industries such as automotive, oil & gas, etc. and stringent government regulations pertaining to power reliability and quality. Non-linear load is the primary cause of the emergence of harmonics and heavy electrical applications such as rectifiers, variable frequency drive or arc furnace generate harmonics. In order to mitigate this problem, harmonic filters are used which bring down the harmonics to tolerable level.
Increasing adoption of variable frequency drives in various end user industries is driving the harmonic filter market in the country as it generates harmonics. Also, government has enacted several laws and is imposing penalties on industries which do not comply with the power quality norms, consequently, driving the market for harmonic filters in the country. However, high cost of the filter and low awareness about the power quality & harmonic filters can hamper the growth of the market during forecast period.
Harmonic filter market in India can be segmented based on filter type, voltage level, phase, end user, company and region. Among filter type, passive filter is expected to grow at the highest rate until 2025 as this filter technology is comparatively new and helps to enhance performance of the harmonic filter. Moreover, these filters use electronics switching for producing harmonic current, which automatically cancels harmonics generated by non-linear loads. However, passive filter dominated the market in 2019, as these types of filters can effectively remove or eliminate harmonics of low order.
Major players operating in the India harmonic filter market include Crompton Greaves Ltd., Larsen & Toubro Limited, ABB India Limited, Schneider Electric India Private Limited, Eaton Technologies Pvt Ltd, Siemens India, Schaffner India, Emerson Network Power Pvt. Ltd, NeoWatt Power Solutions Co. Pvt. Ltd., EPCOS India Pvt. Ltd., etc.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast the market size of India harmonic filter market, in terms of value and volume.
- To classify and forecast India harmonic filter market based on filter type, voltage level, phase, end user and regional distribution.
- To identify drivers and challenges for India harmonic filter market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India harmonic filter market.
- To conduct the pricing analysis for India harmonic filter market.
- To identify and analyze the profile of leading players involved in the India harmonic filter market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the region.
TechSci Research calculated the market size of India harmonic filter market using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Harmonic filter manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to harmonic filter market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, India harmonic filter market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Filter Type:
- Market, By Voltage Level:
o Low Voltage
o Medium Voltage
o High Voltage
- Market, By Phase:
o Single Phase
o Multi Phase
- Market, By End User:
- Market, By Region:
Company Profiles: Detailed analysis of the major companies present in India harmonic filter market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).