Research Nester has released a report titled “Metal Enclosed Harmonic Filter Market – Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Metal enclosed harmonic filters with various voltage ranges are increasingly being installed owing to the growing demand for electricity in the industrial sectors of the developing countries. There are numerous benefits of metal enclosed harmonic filters which is why it is preferred in industries.
They improve the performance of the equipment and enhance the system’s capacity in industries such as utility and commercial power systems and also eliminate electrical disturbances and harmonics. The growing demand for electricity in the industrial sectors of the developing countries is therefore anticipated to drive the growth of the metal enclosed harmonic filters market.
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. Rising installations of harmonic filters in power distribution systems, growing industrialization in the developing countries worldwide, for instance the US, China, Australia, Germany, India, and various others, growing adoption of variable frequency drivers in the commercial and manufacturing industry, 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. The global metal enclosed harmonic filter market registered a value of USD 631.78 million in the year 2019 and is anticipated to register an incremental $ opportunity of USD 32.85 million in the year 2020 as compared to the previous year and gain an absolute $ opportunity of USD 332.4 million by growing at 1.5x during the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Geographically, the global metal enclosed harmonic filter market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Among these regions, the market in Asia Pacific registered the largest market share of 47.49% in the year 2019 and is anticipated to gain an incremental $ opportunity of USD 16.36 million in the year 2020 as compared to the previous year and gain an absolute $ opportunity of USD 167.39 million by growing at 1.53x during the forecast period. Asia Pacific is growing as the global data center hub, which is requiring data center operators to deploy metal enclosed harmonic filters.
Moreover, the increasing automotive industry in the nations such as China, India and others is also anticipated to drive the growth of the market in the region.
However, concerns for lack of awareness for metal enclosed harmonic filters among the small and medium enterprises is anticipated to limit the growth of the global metal enclosed harmonic filters market over the forecast period.
This report also studies existing competitive scenario of some of the key players of the global metal enclosed harmonic filters market, which includes profiling of ABB Ltd. (SWX: ABBN), Siemens AG (ETR: SIE), General Electric Company (NYSE: GE), CG Power and Industrial Solutions Limited (NSE: CGPOWER), Eaton Corporation plc (NYSE: ETN), Baron Power Limited, Northeast Power Systems, Inc., Arteche Group, Controllix Corporation, and AZZ Inc. (NYSE: AZZ).
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Metal Enclosed Harmonic Filter Market – Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall metal enclosed harmonic filters industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global metal enclosed harmonic filters market in the near future.
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