Harmonic Filter Resistor Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product Type (C-Type, Single Tuned, Second Order, and Third Order); End-users (Power Plant, Industrial, and others); and Region/Country
The Harmonic Filter Resistor market is expected to grow at a strong CAGR of around 5% during the forecast period owing to the increasing requirement to reduce the losses of the line along with their higher reliability, higher insulation and lower working over temperature. The demand for harmonic filter resistors in the power industry is driving the growth of harmonic filter resistors due to several factors. Firstly, the increasing use of power electronics in various industrial and commercial applications, such as power plants, has led to the generation of harmonic distortion in the power system. This distortion can cause problems such as equipment damage, reduced efficiency, and increased energy consumption. Therefore, to ensure the smooth operation of these systems and to comply with regulatory requirements, the use of harmonic filter resistors has become necessary. In addition, the growing demand for efficient power transmission and distribution is driving the growth of the harmonic filter resistors market. Power transmission and distribution networks are required to operate efficiently to meet the increasing demand for electricity. Harmonic filter resistors can help to reduce the amount of energy lost due to harmonic distortion, thereby improving the efficiency of the power system. Further, technological advancements in the field of harmonic filter resistors have led to the development of more efficient and cost-effective solutions.
Some of the major players operating in the market include Telema spa, MegaResistors, Hilkar, Vishay Intertechnology, Inc., Resisturk Electric (TR) Ltd, Backer AB, NATIONAL SWITCHGEARS, Filnor, Inc., Post Glover Resistors and Metal Deploye Resitor. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, the third order segment held a dominating share of the market in 2021”
Based on product type, the market is segmented into C-type, single tuned, second order and third order. The third order segment is expected to hold a significant market share during the forecast period. Third order harmonic filters are the most advanced type of harmonic filter and consist of multiple capacitors, inductors, and resistors that are connected in a specific way to form a third-order filter. These filters are capable of reducing harmonic distortion to very low levels. In addition, the design of third order harmonic filters is complex and requires careful consideration of the specific requirements of the power system. The filter components must be carefully selected and optimized to ensure that the filter is effective at reducing harmonic distortion while minimizing the impact on system stability and power quality.
“Amongst end-users, the power plant segment register significant CAGR during the forecast period”
Based on end-users, the market is segmented into power plants, industrial, and others. The power plant segment is expected to register a significant CAGR during the forecast period owing to the increasing need for efficient power transmission and distribution is becoming more critical as the global population continues to grow and the demand for electricity increases. Harmonic filter resistors can help to improve the efficiency of power transmission and distribution systems by reducing the amount of energy lost due to harmonic distortion. Also, power quality issues, such as harmonic distortion, can have a negative impact on the performance and longevity of electrical equipment, including motors, transformers, and generators. Harmonic filter resistors can help to improve power quality by reducing the amount of harmonic distortion in the power system.
Harmonic Filter Resistor Market Report Coverage
“Asia-Pacific dominated the harmonic filter resistor market in 2021”
The need for efficient power transmission and distribution is becoming increasingly critical in the Asia-Pacific region, due to the growing population and increasing demand for electricity. Harmonic filter resistors can help to improve the efficiency of power transmission and distribution systems by reducing the amount of energy lost due to harmonic distortion. Many countries in the Asia-Pacific region have regulations in place that require power systems to meet certain levels of harmonic distortion. The implementation of these regulations is driving the demand for harmonic filter resistors to help ensure compliance with these standards. Overall, the growth of the harmonic filter resistors in power plants in the Asia-Pacific region is being driven by a combination of factors, including rapid industrialization, the growing demand for efficient power transmission and distribution, regulatory requirements, technological advancements, and the need for improved power quality. As these factors continue to shape the market, it is expected that the demand for harmonic filter resistors will continue to grow in the coming years.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global harmonic filter resistor market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Harmonic Filter Resistor Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global harmonic filter resistor market were the three major steps undertaken to create and analyze the adoption of harmonic filter resistor in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global harmonic filter resistor market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the harmonic filter resistor market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the harmonic filter resistor market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the harmonic filter resistor market. Further, we conducted factor analysis using dependent and independent variables such as product type and end-users of the harmonic filter resistor market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Harmonic Filter Resistor market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global harmonic filter resistor market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the harmonic filter resistor market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global harmonic filter resistor market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global harmonic filter resistor market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type and end-users in the global harmonic filter resistor market.
The main Objective of the Global Harmonic Filter Resistor Market Study
The current & future market trends of the global harmonic filter resistor market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the harmonic filter resistor market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the product type and end-users
- Define and analysis of the regulatory framework for the harmonic filter resistor industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the harmonic filter resistor market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the harmonic filter resistor market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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