Load Bank Resistors Market to grow at a CAGR of 5.3%
The Load Bank Resistors market would grow by more than 5.3% CAGR. Load bank resistors are widely used for the purpose of testing of generators and power systems. Load bank resistors used in products such as gas turbines, diesel engines, electricity oriented industry, and UPS systems.
It also used for emergency power systems for high power load testing of uninterruptible power supplies, generators, battery systems, turbines, and braking power dissipation for large motors and generators.
According to latest research, load bank resistors market is set to witness steady growth during 2021-2031. The market will show steady growth in coming years, owing to increasing demand for load bank resistors in gas & oil industry. Moreover, lack of availability of raw material for the production of load bank resistors is expected to restraints the growth of the load bank resistors market.
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FACTS AT A GLANCE
Companies: ASCO Power Technologies,Cermet Resistronics,Mosebach Manufacturing Company,Megaresistors,Cressall,Sandvik AB,Vishay Intertechnology Inc.,Tutco Farnam,Widap AG
Coverage: All major geographies and key segments
Segments: Type(Resistive,Reactive,Resistive and Reactive); Applications(Battery Systems Testing,Generators Testing,UPS Testing,Turbines Testing)
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
What is Driving Demand for Load Bank Resistors Market?
The growing demand for load test activities for gen-sets fuels the demand for the load bank resistors market. Gen-sets is a combination of a prime mover/engine which helps to convert the chemical energy to mechanical energy of a fuel with the help of load bank resistors.
Many key vendors have introduced and designed hand portable load banks which attracts the number of end-users owing to rising investments. In load testing industry the use of resistive load banks has been increased due to several advantages such as it tests the generators at full capacity and provides the end-users with precise and accurate results.
Adoption of reactive load banks is expected to increase in coming years thus it ultimately fuels the demand for the load bank resistors market.
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Growing demand for load bank resistors in oil & gas industry is driving the adoption of Load Bank Resistors Market
In load bank resistor market gas & oil is a prominent industry thus oil & gas industry ultimately fuels the demand for the load bank resistors market. Many of end-users in oil & gas industry prefers renting these load banks and demand for hand-portable load banks is increasing.
Gas & oil companies helps to deploy generator which supplies continuous supply of electrical power to their onshore and offshore facilities. Thus demand for load banks is proportional to implementation of load bank resistors and thus it drives the demand for the load bank resistors market in coming years.
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