Report Overview

Indian Harmonic Filter Market Size - Industry Trends & Outlook Report 2020-2025

The Indian Harmonic Filter Market is anticipated to reach the valuation of approximately USD  billion by the end of the year 2025, by expanding at a steady CAGR of 10% during the forecast period 2020- 2025. Major of the market would be driven by the surge in demand for better & improved power quality options from industries. Such as Automotive, manufacturing, oil & gas, etc. also strict government policies and regulations related to power reliability and quality would further help the market to grow.

Indian Harmonic Filter Market Overview

In terms of the electric power system, a harmonic is a current or voltage present at a multiple of the fundamental frequency of the system. Which is produced by the action of non-linear loads, like discharge lighting, rectifiers, or saturated magnetic devices. The harmonic frequencies present in the power grid gives rise to frequent power quality problems. Also, the harmonics in power systems cause increased heating in equipment, and conductor misfiring in variable drives, and torque pulsation in motors. To avoid and to diminish all of this, a harmonic filter is used.

There are multiple factors due to which the Indian market is anticipated to perform well, one of them is the Non-linear load. It is so, due to the initialization of heavy electrical and harmonics applications such as arc furnace generated harmonics or variable frequency drive, rectifiers, etc. And to alleviate the related problems, harmonic filters are used which gets the harmonics down to a much tolerable level.

Indian Harmonic Filter Market

Growth Drivers

Adoption of variable frequency in Indian industries

The increased adoption of variable frequency does drive many industries in the mentioned sub-continent. The industries are residential sectors, housing establishments, commercial sectors such as malls, shopping complexes, and other public places. And lastly, in the industries, where manufacturing takes place, the presence of high-end tools, types of equipment, and machines is there.

Government’s stringency

The enactment of government laws, policies, etc. for various industry-related applications and functioning has also helped the market indirectly. The main cause of which is the fact that energy should be conserved by any means, and for which government would penalize any form of industry which do not follow or comply with the power quality norms.

Restraint

High costs of the harmonic filters

Despite usefulness, and other credited attributes the growth of harmonic filters could hamper in the Indian market. Due to the high costs of the harmonic filter. It would create a margin for the small or medium scale industries leading to a possible hindrance to the growth of the relevant market.

Impact of COVID 19 on Indian Harmonic filter market

Since the pandemic has struck many industries had to halt, so to prevent the virus spread. And to so many small & medium scale businesses, industries must bear crucial losses, from which many had to rescue themselves either by taking debts or shutting down. Amidst all this the manufacturing, automotive, etc. industries did also face downsides, as there were no assembly lines were carried out, and no production. Leading to a stagnant market. But as everything is getting normal and the vaccines are being discovered many productions, manufacturing sites a re-opening giving positive news and prospect growth for the Indian Harmonic Market.

Indian Harmonic Filter Market Segmentation: By Filter Type

Based on type, the Indian harmonic filter market is segmented into Active filters, Passive filters, Hybrid filters, etc. Amongst which the passive filter is anticipated to swell at the highest rate, in the projected period. This filter technology is comparatively new and aids in enhancing the performance of harmonic filters. However, these filters use electronic switching for producing harmonic current/voltage, which automatically cancels harmonics generated by non-linear loads. Although, the passive filters did dominate the market in 2019, as they are effective in removing or eliminating harmonics of lower order.

Indian Harmonic Filter Market Segmentation: By Voltage Level

Based on the voltage level, the market is segmented into low voltage, medium voltage, and high voltage.  These are characterized and applied in the end-user sectors as per their prior requirements. The low voltage harmonic filters are specially made 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 in a power grid. These low voltage filters help in the reduction of the electric bill, thereby no penalties, which is up to 2.5% of the overall allowances. It also helps in reducing the overall power consumption related to peak demand. This kind of harmonic filter help in saving up to 3 to 6% of electricity on its correct installation and maintenance. Therefore, they surely have high hopes for showcasing growth in the forecast period.

Indian Harmonic Filter Market Segmentation: By Phase

By phase of the harmonic filters, the Indian market is divided into single-phase, and multi-phase, or 3-phase. The multi-phase segment was dominant over the market, due to its extensive use in commercial electrical power systems, and industrial ones for power factor correction, and reducing the present voltage distortion. Growing demand in energy, and power manufacturing industries along with data center applications is projected to support the rise in value for the relevant market in the forecast period. Additionally, the increase in adoption of consumer electronic products such as laptops, smartphones, home appliances would bolster the demand for single-phase harmonic filters.

Indian Harmonic Filter Market Segmentation: By End-User Industry

Based on the End-User industry the harmonic filter market in India is segmented into Residential, Commercial, and Industrial. Where the industrial segment did represent more than 50% of the overall Indian market’s revenue. The extensive usage of harmonic filters in VFDs for harmonics mitigation in various end-use industries, like energy & power, manufacturing, metal & mining, pulp &paper, and water treatment plant.

Indian Harmonic Filter Market Segmentation: Regional Insights

The regional analysis is divided into East India, West India, North India, and South India. Northern India has more dominance in the market over the other regions, due to the presence of large industry setups, in Uttar Pradesh for manufacturing of various tech-items.

Competitive Landscape

Leading operating companies in the Indian Harmonic Filter market are  ABB India Limited,Crompton Greaves Ltd., Eaton Technologies Pvt Ltd, Emerson Network Power Pvt. Ltd, Larsen & Toubro Limited, Schneider Electric India Private Limited, Schaffner India, Siemens India, NeoWatt Power Solutions Co. Pvt. Ltd., EPCOS India Pvt. Ltd., etc. among various others.

Recent Developments

December, 03’ 2020 North India, Taking offense to the Punjab State Power Corporation Limited (PSPCL) decision making installation of ‘power quality meters’ mandatory for large supply (LS) consumers, the North India Induction Furnace Association, Punjab (NIIFA) has sought immediate interjection of the Punjab State Electricity Regulatory Commission (PSERC) seeking deferment of the decision till the next economic year.

Scope of the Report

By Filter Type

• Active filter
• Passive filter
• Hybrid filter

By Voltage Level

• Low voltage
• Medium voltage
• High voltage

By End-User

• Residential
• Commercial
• Industrial

By Region

• East India
• West India
• North India
• South India

1.       Research Framework

1.1.     Research Objective

1.2.     Product Overview

1.3.     Market Segmentation

2.       Research Methodology

2.1.     Qualitative Research

2.1.1.   Primary & Secondary Research

2.2.     Quantitative Research

2.3.     Market Breakdown & Data Triangulation

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4.     Breakdown of Primary Research Respondents, By Region

2.5.     Assumption & Limitation

3.       Executive Summary

4.       Indian Harmonic Filter Market Insights

4.1.     DROC Analysis

4.1.1.   Growth Drivers

4.1.2.   Restraints

4.1.3.   Opportunities

4.1.4.   Challenges

4.2.     Recent Development

4.3.     Porter’s Five Forces Analysis

4.3.1.   Bargaining Power of Suppliers

4.3.2.   Bargaining Power of Buyers

4.3.3.   Threat of New Entrants

4.3.4.   Threat of Substitutes

4.3.5.   Intensity of Rivalry

4.4.     Impact of Covid-19 on Indian Harmonic Filter Industry.

5.       Indian Harmonic Filter Market Overview

5.1.     Market Size & Forecast by Value, 2020-2025

5.1.1.   By Value (USD Million)

5.1.2.   By Volume (Million Unit)

5.2.     Market Share & Forecast

5.2.1.   By Filter Type

5.2.1.1.             Active filter

5.2.1.2.             Passive filter

5.2.1.3.             Hybrid filter

5.2.2.   By Voltage Level

5.2.2.1.             Low voltage

5.2.2.2.             Medium voltage

5.2.2.3.             High voltage

5.2.3.   By End-User

5.2.3.1.       Residential

5.2.3.2.       Commercial

5.2.3.3.       Industrial  

5.2.4.   By Region

5.2.4.1.             East India

5.2.4.2.             West India

5.2.4.3.             North India

5.2.4.4.             South India

6.       Competitive Landscape

6.1.    List of Key Players and Their Offerings

6.2.    Market/Ranking Share Analysis

6.3.    Competitive Benchmarking, By Operating Parameters

7.       Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

7.1.     ABB India Limited

7.2.     Crompton Greaves Ltd.

7.3.     Eaton Technologies Pvt Ltd

7.4.     Emerson Network Power Pvt. Ltd

7.5.     Larsen & Toubro Limited

7.6.     Schneider Electric India Private Limited

7.7.     Schaffner India, Siemens India

7.8.     NeoWatt Power Solutions Co. Pvt. Ltd.,

7.9.     EPCOS India Pvt. Ltd.