The
India harmonic filters market was valued at US$81.1 mn in 2012. The
market is expected to rise at an impressive CAGR of 12.80% from 2013
to 2019 to reach a valuation of US$188.5 mn by 2019, says a recent
market study published by Transparency Market Research (TMR). The
report is titled “Harmonic
Filters Market in India - Industry Analysis, Size, Share, Growth,
Trends and Forecast 2013 - 2019” and is available for sale on the
company website.
The
report states that the rising demand for consistent power quality
across various industries such as automotive, oil and gas, and IT and
data center, among others, is the major factor driving the harmonic
filters market in India. Moreover, in commercial as well as
industrial applications, the increasing demand for variable frequency
equipment that generate harmonics is supporting the growth of this
market.
However,
high costs of harmonic filters, lack of awareness, and availability
of substitute products are factors that are collectively impeding the
growth of this market. In the coming years, the rising demand to
safeguard optimum power quality, especially for IT and data center
applications, will open growth opportunities for this market. In
recent years, government regulations pertaining to quality of power
have become strict in India and utility companies are imposing
penalties in the instance of non-adherence to the stipulated quality.
This is leading to increased adoption of harmonic filters in India.
The
report segments the India harmonic filters market on the basis of
product type, voltage level, and application. By product type, active
filters and passive filters are the segments of the India harmonic
filters market. Of the two product segments, passive filters
accounted for the larger market share in 2012. However, active
filters will exhibit robust growth in the forecast period. This is
due to the increasing awareness about the benefit of active filters
to attain higher harmonic mitigation.
The
harmonic filters market in India is divided on the basis of voltage
into low voltage, high voltage, and medium voltage configurations.
Amongst all, currently, harmonic filters with low voltage are widely
used. However, the demand for both medium as well as high voltage
harmonic filters is slated to rise during the forecast period in
India.In India, harmonic filters are used across several end-use
industries such as automotive, IT and data center, and oil and gas,
among others. Among all the applications of harmonic filters, in
2012, the industrial application segment contributed highest revenue
to the harmonic filters market in India. This is because harmonic
filters are consistently used for the improvement of harmonics in
drives.In the coming years, with increasing consumer awareness about
power quality considerations, the automotive and IT and data center
applications will expand their market share in the India harmonic
filters market.
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A Sample Of This Report:
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2550
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