ICT RESEARCH REPORTS Tuned-Passive-Harmonic-Filters-Market | Page 2

expected to witness an annual average change of 0.7% and non-OECD countries of 1.6% in the
duration of 2012–2040. Furthermore, increasing utilization of renewable energy sources for
electricity generation is among the prominent trends gaining traction, in order to reduce
environmental impacts, which is expected to fuel demand for tuned passive harmonic filters over
the forecast period.
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However, active harmonic filters (AHF) require relatively higher initial capital, and therefore are
the last options for power quality correction solutions. This factor is expected to adversely affect
growth of the market.
“Increasing demand for these filters to reduce harmonic distortions for enhancing
supply efficiency and avoid system malfunctions is expected to drive growth of the
market”
Power systems have recurring distortions of current and voltage waveforms, owing to extensive
usage of loads that produce currents with higher frequencies. Growing number of non-linear
loads in conjunction with substantial surge in demand for electricity has led to introduction of
large number of parameters that distort the voltage and can potentially cause malfunction,
overheating, and breakdown of the systems utilized in power systems.
Requirement to provide consistent supply and avoid potential damage to the end user and power
systems is expected to lead to demand for these power factor correction systems and fuel
growth of the tuned passive harmonic filters market. These equipment are featured with large
sizes of MVAR ratings, maintenance free service, and are economically viable than synchronous
condensers. It also offers many advantages for systems that require high starting power, voltage
support, and protection in case of source. These features are expected to lead to high adoption
of these systems over the forecast period.
According to BP Statistical Review of World Energy 2017, Asia Pacific primary energy
consumption in 2016 was over 42% of the global primary energy consumption in terms of million
tons of oil equivalent. Moreover, the region is home to countries that include China, India, Japan,
South Korea, Taiwan, Australia, and Indonesia that contribute to significant share in the global
electricity being produced every year. These countries have some of the major energy intensive
industrial activities, and a large population base contributing to high energy consumption. Owing
to these factors, Asia Pacific passive tuned harmonic filters market is expected to witness highest
growth over the forecast period.