The latest market report published by Credence Research, Inc. is “Global Active Power Filters Market: Growth, Future Prospects, and Competitive Analysis, 2018 – 2030”. The Global Active Power Filters Market generated revenue of around USD 1.5 billion in 2022 and is projected to grow a CAGR of over 7.5% during the forecast period from 2023 to 2030 to reach around USD 2.48 billion in 2030.
An active power filter is a circuit that helps purify electronic equipment’s power supply. This is achieved by removing harmonic currents from the power source. Harmonic currents can cause interference and shorten the lifespan of electronic devices. They contribute to more efficient production, cost savings, and higher output. They can monitor the filter harmonics and load current in real-time, allowing them to maintain a clean line current. Active power filters use a current transformer to monitor the load current. The current transformer introduces an opposite phase in the direction of the filtered components. Active power filters can also provide lagging and leading reactive current in real-time. This increases the power factor while compensating for reactive power. The presence of waveforms in the power system is one of the leading causes of power quality difficulties, fueling demand for active power filters. Active power filters address the issue of defective consumer electronics. The need to protect consumer gadgets also propels the active power filter sector forward. However, using filters with adjustable speed motors on two independent platforms limits the expansion of the active power filter industry. Another limitation is that active power filters can cause severe power distortion, resulting in various power quality difficulties, increased costs, and energy loss. Furthermore, the growing use of active power filters in multiple applications, including the IT sector, data centers, and heating applications, is enhancing the market’s potential. One of the key advancements in the global active power filter market is the use of semiconductor device technology.
The global active power filter market is bifurcated into Type, Application, and Geography. The market is categorized into modular APF and wall-mounted APF based on type. Based on application, the global market is segmented into industrial, semiconductor, IT & data centers, automotive, oil & gas, and healthcare. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
North America dominated the global active power filters market in 2022, accounting for a significant market revenue share value due to fully automated regional manufacturing processes. In addition, an increase in R&D activities related to construction and vehicles, where active power filters are useful components, contributes to the region’s active power filter market expansion.
The Active Power Filters Market opportunities are vast and promising for businesses operating in this sector. With the increasing demand for efficient power management systems, coupled with stringent regulations on energy consumption, active power filters have become a necessity for industries worldwide. The market opportunities include growth in renewable energy, smart grids, and data centers that require clean power quality to operate efficiently. Additionally, the rising adoption of electric vehicles is driving demand for active power filters to reduce harmonic distortion caused by their charging infrastructure.
Why to Buy This Report-
- The report offers a quantitative and qualitative analysis of the global active power filters market by segments, drivers, current trends, restraints, challenges, opportunities, and market dynamics with the historical period from 2018–2021, base year–2022, and forecast period 2023–2030.
- The report provides insights into the competitive landscape, including how key players in the market are operating globally, regionally, and at the country level.
- The report contains an extensive analysis of the global active power filters market segmentation by type and application, which can assist stakeholders in better understanding market dynamics and identifying potential growth opportunities.
- The report offers business insights into technological advancements, research and development activities, and product innovations in the global active power filters market.
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