Load Bank Resistors Market 2022
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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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.
Key Segments
By Type – Resistive, Reactive, Resistive and Reactive
By Application – Battery Systems Testing, Generators Testing, UPS Testing, Turbines Testing, Others
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Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
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