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Power Quality Needs from Emerging Markets Drive Revenue Growth
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The global harmonic filters and reactors market will continue to be driven by power quality standards and compliance, transmission and distribution (T&D) infrastructure investment, the energy demand and supply gap, and technological innovation. Increased demand from emerging markets will be the key to future revenue growth.Despite the economic slowdown, Asia-Pacific (APAC) will lead the demand for reactors across industrial applications. Aggressive expansion by Chinese manufacturers has increased the level of competition in the market.Key factors influencing reactor pricing in the global market include the customer knowledge gap about power quality issues; intense competition because of low-cost competitors, especially in the Asian markets; a fragmented market with low entry barriers for low-voltage (LV) reactors manufacturers; product commoditization; and the lack of product differentiation and customisation.
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