Dublin, Oct. 12, 2020 (GLOBE NEWSWIRE) -- The "Global Metal Enclosed Harmonic Filter Market Outlook 2028" report has been added to ResearchAndMarkets.com's offering.
The global metal enclosed harmonic filter market is anticipated to achieve a CAGR of 5.20% across the globe over the forecast period, i.e. 2020-2028.
Factors such as the growing adoption of variable frequency drivers in the commercial and manufacturing industry, growing industrialization in the developing countries worldwide, for instance the US, China, Australia, Germany, India, and various others, rising installations of harmonic filters in power distribution systems, coupled with the numerous benefits associated with metal enclosed harmonic filters, such as reducing overall operating costs by efficient use power, reducing the risk of operational downtime from overloading, premature plant failure, and nuisance tripping among others are anticipated to promote towards the growth of the global metal enclosed harmonic filter market.
Additionally, factors such as the growing demand for electricity in the industrial sectors of the developing countries is anticipated to drive the growth of the metal enclosed harmonic filters market.
The global metal enclosed harmonic filter market consists of various segments that are segmented by type, phase, voltage level, application, end user and by region. The market is further segmented by voltage level into low, medium and high voltage. Out of these, the low voltage segment registered the largest market share along with a value of around USD 420 million in the year 2019. The segment is further anticipated to grow at a CAGR of around 5% during the forecast period.
Low voltage harmonic filters are designed to avoid premature degradation of power system components and improper operations of the sensible loads caused by the distortion of current and voltage harmonic components. These filters help in the reduction of the electric bill, thereby avoiding penalties, which is up to 2.5% of the overall allowances. It also reduces the overall power consumption associated with peak demand. These harmonic filters help in saving up to 3 to 6% of electricity on its correct installation.
The market in Europe, which registered a value of around USD 98 million in the year 2019, is anticipated to grow at a CAGR of around 5% during the forecast period, backed by the increase in the region's industrial and commercial activities.
Some of the affluent industry leaders in the global metal enclosed harmonic filter market are
General Electric Company
CG Power and Industrial Solutions Limited
Eaton Corporation plc
Baron Power Limited
Northeast Power Systems Inc.
Key Topics Covered:
Part 1 Market Definition and Research Methodology
Part 2 Executive Summary
Part 3 Market Dynamics
Part 4 Industry Analysis
Key Product Analysis
Export Import Analysis
Assessment of Value Chain
Part 5 Impact of COVID-19
Part 6 Smart Meter Analysis
Part 7 Regional Analysis on Leading Players of Metal Enclosed Harmonic Filters
Part 8 Global Metal Enclosed Harmonic Filter Market
Market Overview - Market Size (2019-2028)
Market Segmentation By:
Part 9 North America Metal Enclosed Harmonic Filter Market
Part 10 Europe Metal Enclosed Harmonic Filter Market
Part 11 Asia-Pacific Metal Enclosed Harmonic Filter Market
Part 12 Latin America Metal Enclosed Harmonic Filter Market
Part 13 Middle East and Africa Metal Enclosed Harmonic Filter Market
Part 14 Competitive Landscape
Company Market Share
Part 15 Analyst Review
For more information about this report visit https://www.researchandmarkets.com/r/vlcfo6
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900