Summary

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.

“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.
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• 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:
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