Analysis of Harmonic Generators Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to latest research study by Fact.MR, harmonic generators market is set to witness significant growth in terms of volume and value. This will lead to provide promising stance for the manufacturers during the forecast period.
Additionally, muted demand from automobile, electrical & electronic and construction industry is likely to hamper the production of harmonic generators and will directly effect the revenue of the manufacturers across the globe. Although the rapid urbanization and industrialization in developing countries such as India, China and other North American countries is poised to surge the sale with impressive growth rate of more than 6.5% during the years to come.
The increasing consumption of high power electrical & electronics machineries in various end use industries is likely to provide numerous opportunities to the manufacturers globally.
Due to high utilization of power electronics, the quality of electric supply has to be monitored every time in manufacturing units. This will lead to increase the life time of the machinery, and create significant value for harmonic generators.
The harmonics generation can account for measureable benefits for end use industries such as electrical & electronics, construction and automobile in terms of electricity bill reduction and protection against equipment failure.
Automation in harmonic generators has witnessed considerable growth rate in past few years, since it does not require any crew members for harmonic selection. The demand for automatic harmonic generator is predicted to surge in next couple of years.
In addition to this, requirement for harmonic generators is highly dependent on the consumption of high power electrical & electronics machinery, which is remained a longstanding challenge for manufacturers to diversify the consumption. The versatility of the products will lead to surge the utilization in other end use industries as well.
Automotive and heavy industrial manufacturing demand has been impacted by COVID-19-induced slowdown across globe. This also had ripple effect on the sales of harmonic generators in Q2 and Q3 of 2020. Automobile and industrial manufacturing activity are associated with consumption of high power, this is attributed to advancing need of electricity with uninterrupted supply.
Harmonic generators are also used extensively in electrical industry as well, since it is highly efficient for induced voltage test. This is the key factor which also accounts for noteworthy sale in electrical industries.
Asia Pacific is one of the largest consumer globally due to presence of prominent manufacturers in China. China is the major manufacturer and satisfies the consumer’s requirement at cheaper prize, which is projected to attract more consumers across the globe.
The consumption is set to surge in this region during the assessment period 2021-2031. Demand is likely to remain subdued in the next couple of years, as a number of end-use industries make gradual recovery.
Sale in Asia Pacific will be led by automotive and construction sector. The rapid industrialization and urbanization in countries like India, China has accounted for considerable sale since past few years. These sector is anticipated to create numerous opportunities for the manufacturers in upcoming years in this region.
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North America holds the significant market share of harmonic generator. The utilization of advanced machinery has accounted for significant demand in this region. North America has been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities.
US harmonic generators sales will also be impacted by the construction sector recovery in early 2020. The US construction sector is facing a challenging year, however, there is growing optimism that low mortgage rates will lead to a spurt in early 2022.
Some of the leading manufacturers and suppliers of harmonic generators include ADVANCED PHOTONICS INC., COHERENT, Ultrafast systems, Ethicon, LIGHT CONVERSION, Wuhan Hezhong Electric Equipment Manufacture Co., Ltd., Huazheng Electric Manufacturing (Baoding) Co., Lt, WENZHOU JUNKE ELECTRIC CO., LTD., eurofins, Shenzhen Sinexcel Electric Co., Ltd., Alltrade Pacific Co., Ltd., Tek E Industry Grp Co., Ltd., SaLICrU, Hebei Machinery Import & Export Co., Ltd., Mumedia Photoelectric Ltd and other prominent companies.
Many leading manufacturers are more focused on to use alternative renewable power source such as wind energy and solar energy for harmonic generators. This is likely to improve the product penetration into the marketplace.
Moreover, the market is highly consolidated in nature since a large number of dominant key players are present across the globe. Emphasize is given on the adoption of inorganic growth strategy such as merger, expansion, acquisition, partnership and collaboration of the companies.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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North America accounts for 40% share of the harmonic generators market.
The harmonic generators market is projected to develop at a CAGR of 6% through 2029.
Harmonic generators are used in the electrical industry since they are highly efficient for induced voltage test.
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