LOW HARMONIC DRIVES MARKET ANALYSIS

Low Harmonic Drives MarketSize and Trends

Market players provide factory tested low harmonic drives that do not require additional hardware or costs, which enhances the simplicity of installations. Moreover, these drives are compact and do not require additional power wiring and can save significant space. These systems do not require additional dedicated transformers and are featured with low losses, unity power factor, robust performance, high overall efficiency. These factors are expected to boost demand for low harmonic drives over the forecast period.

Low Harmonic Drives Market Taxonomy

On the basis of product type, the global low harmonic drives market is classified into:

• Low voltage drives
• Medium voltage drives

On the basis of components, the global low harmonic drives market is classified into:

• Input section with breakers
• Active supply unit with line filters
• Control unit
• Motor inverter
• Others

On the basis of end use industries, the global low harmonic drives market is classified into:

• Oil & Gas
• Food & beverages
• Water and wastewater treatment
• Mining
• HVAC
• Pulp & Paper
• Others (Pumps, fans, compressors and conveyors)

On the basis of region, the global low harmonic drives market is classified into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa

Increasing demand for efficient power utilization and need to reduce energy losses is expected to boost growth of the market

To reduce the cost of electricity consumption, various organizations and industry participants are focused on investing in efficient industrial products and equipment. The need to limit the consumption of electricity without compromising the energy efficiency is expected to present considerable growth prospects for the low harmonic drives market players. Furthermore, the need to meet distinct and stringent regional regulatory compliances relating to efficient power consumptions is also expected to offer significant market growth. For instance, China’s 12-5 Plan, EPA Power Sector Regulations in the U.S., and Electricity Industry Act 2010 in New Zealand are among the few directives that are in place to regulate the electricity consumption.

However, high switching costs for end users is expected to be the only challenge that will negatively impact the market growth over the forecast period.