Major factor driving growth of the global harmonic filter market is rapid innovation in electronic devices that help in distortion of power in buildings and power plants. In addition, growing demand from power plants is another factor expected to support growth of the global harmonic filter market.
The global harmonic filter market report has been segmented on the basis of type, voltage level, end user, and region.
The type segment in the global harmonic filter market is segmented on the basis of passive filtering, active filtering, and hybrid filtering. The active filtering segment is expected to contribute significant revenue share in the global market.
The end user segment in the global harmonic filter market is segmented on the basis of industrial, commercial, and residential. The industrial segment is expected to contribute significant revenue share in the global market.
On the basis of region, the global harmonic filter market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The harmonic filter market in Asia Pacific is expected to account for largest share in the global market in terms of revenue, owing to rapid industrialization and presence of major manufacturers in countries in the region. The market in Europe is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to stringent government regulations pertaining or reliability and quality power supply in economies in this region.
Key players operating in the global harmonic filter market include Schneider Electric S.E., Schaffner Holding AG, Siemens Ltd., MTE Corporation, Janitza Electronics GmbH, Epcos AG, Vertiv Co., Eaton Corporation, Danfoss A/S, and CG Power and Industrial Solutions Limited.