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| Report Code: A16454 | Pages: 205 | ||
| Tables: 112 | Charts: 53 |
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The global power filter market was valued at $268.60 million in 2021, and is projected to reach $387.80 million by 2031, growing at a CAGR of 3.8% from 2022 to 2031.
A power filter is referred to electronic component that effectively reduces electromagnetic interference in power line of any equipment. Electronic devices in different fields, mainly work through electricity but sometimes, the performance of these devices may interrupt or breaks down or crashes when an electromagnetic interference (EMI) occurs. So, based on the severe interruption, electromagnetic interference is expected to impact the signal quality of the device received, and the component or device is projected to get damaged permanently. A power filter is used to protect these devices from damage
COVID-19 had a large impact on both, consumers and the economy. Electronics manufacturing hubs have been temporarily shut down to limit the COVID-19 spread among individuals. This has majorly affected the supply chain of the power filter market by creating shortages of materials, components, and finished goods. However, increase in demand for power electronics component across various industry verticals is expected to drive the growth of this market during the forecast period.
The power filter market is segmented into Type and Application. By type, the market is divided into single-phase filter, three phase filter, and DC filter. By application, it is categorized into healthcare, defense and aerospace, communication, industrial machinery, and others.
With the rapid technological advancement of electronic components, there are high risks of electromagnetic interferences that may lead to failure of devices and turn in losses. Power filters are used to avoid these kinds of losses and minimize them, which propels the power filter market growth. There is a growing demand for power filters across the globe to prevent expensive equipment failures in the industrial sector. Also, the safety systems which are installed in industrial machineries are composed of several electronic types of equipment, which also make power filters necessary for avoidance of failure of the system.Â
Top impacting factors
The significant impacting factors in the global power filter market share includes, increasing need to attain higher energy efficiency, which fuels the demand for power filter. In addition, the market is influenced by increase in demand for power electronics component across various industry verticals. However, high prices associated with filters hampers the market growth to a certain extent. Moreover, technological advancements and the rapidly growing semiconductor industry are expected to create greater opportunity for the power filter industry. Each of these factors is anticipated to have a definite impact on the global power filter market forecast.
Competitive Analysis
Competitive analysis and profiles of the major power filter market players, such as COSEL CO., LTD., Astrodyne TDI, Schaffner Holding AG, TDK Electronics, TE Connectivity, ETS-Lindgren, ALTRAN MAGNETICS, INC., API TECHNOLOGIES CORP., SCHURTER, and Curtis Industries
Power Filter Market Report Highlights
| Aspects | Details |
|---|---|
| By Type |
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| By Application |
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| By Region |
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| Key Market Players | CTS Corporation, ALTRAN MAGNETICS, INC., api technologies corp. (formerly spectrum control), COSEL CO., LTD., curtis industries, llc, Schaffner Holding AG, KYOCERA CORPORATION, TDK Electronics, BULGIN LIMITED, TE Connectivity Ltd. |
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The power filter market is anticipated to depict a prominent growth during the forecast period, owing to various factors, such as increase in demand for power electronics component across various industry verticals. In addition, the market is influenced by the growing demand for achieving higher energy efficiency in different verticals of businesses including healthcare, defense and aerospace, communication and others.
However, high prices associated with filters hinder the growth of the market. Moreover, technological advancements and the rapidly growing semiconductor industry are expected to create greater opportunities for the market. Each of these factors are anticipated to have a definite impact on the global power filter market during the forecast period.
The power filter market exhibits high growth potential in commercial and industrial sectors. The current business scenario has witnessed increase in demand for energy, particularly in developing regions, such as China and India, owing to surge in population and rise in demand for energy. Companies in this industry have adopted various innovative techniques, such as mergers and acquisitions to strengthen their business position in the competitive matrix.
The market growth is supplemented by proactive industrialization efforts and surge in manufacturing output, owing to technological advancements. These factors have allowed emerging markets to evolve as largest markets during the forecast period, both from demand and supply sides. Public and private organizations have substantially invested in R&D activities and fabrication techniques to develop cost-effective power filter.
North Americas the major revenue contributor to the global market, followed by Europe. The market growth in Asia-Pacific and Europe is expected to significantly increase during the forecast period. The power filter market provides numerous growth opportunities to the market players, such as TDK Electronics, TE Connectivity, Astrodyne TDI, COSEL CO., LTD., Schurter, and others. These companies are engaged in the process of product innovation, collaboration, and acquisition to expand their services across various regions.
A. The Power Filter Market will expand at a CAGR of 2.6% from 2021 - 2031.
A. The market value of Power Filter Market by the end of 2031 will be $93.1 million.
A. The significant impacting factors in the global power filter market includes, increasing need to attain higher energy efficiency, which fuels the demand for power filter. In addition, the market is influenced by increase in demand for power electronics component across various industry verticals. However, high prices associated with filters hampers the market growth to a certain extent. Moreover, technological advancements and the rapidly growing semiconductor industry are expected to create greater opportunity for the market. Each of these factors is anticipated to have a definite impact on the global power filter market during the forecast period.
A. Currently, TDK Electronics, TE Connectivity, Astrodyne TDI, COSEL CO., LTD., and SCHURTER are some of the leading players in the power filter market.
A. The power filter market is segmented into type, application, and region. By type, the market is divided into single-phase filter, three phase filter, and DC filter. By application, it is categorized into healthcare, defense and aerospace, communication, industrial machinery, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
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