Load Bank Resistors Market 2022
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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.
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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.
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.
Who are the Major vendors of Load Bank Resistors Market?
Some of the leading vendors and companies of load bank resistors market include
ASCO Power Technologies
Cermet Resistronics
Mosebach Manufacturing Company
Megaresistors
Cressall
Sandvik AB
Vishay Intertechnology Inc.
Tutco Farnam
Widap AG
Others.
These key vendors have adopted various organic/inorganic strategies, to increase customer base at global market. They spends millions of dollars into product research and development to carry off the needs of their customers for load bank resistors market. Furthermore, many companies are focusing on introducing new product to enhance their product offering.
For instance, in May 2021, ASCO Power Technologies announced new load bank model, ASCO 4800 load bank. The new model increases advantages such as safety of workers and provides better application flexibility. New model works with optional 100 kA short circuit current rating.
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Key Segments
By Type
Resistive
Reactive
Resistive and Reactive
By Application
Battery Systems Testing
Generators Testing
UPS Testing
Turbines Testing
Others
By Region
North America
US
Canada
Latin America
Brazil
MexicoRest of Latin America
Europe
UK
Germany
France
Italy
Spain
Benelux
Russia
Rest of Europe
East Asia
China
Japan
South Korea
South Asia & Pacific
India
Malaysia
Indonesia
Singapore
Australia & New Zealand
Rest of South Asia & Pacific
Middle East & Africa
GCC Countries
Turkey
South Africa
North Africa
Rest of Middle East & Africa
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.
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