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Load Bank Resistors Market Segmented By Type Resistive, Reactive, Resistive and Reactive having Application includes Battery Systems Testing, Generators Testing, UPS Testing, Turbines Testing
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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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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Get a Customized VersionIn 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.
South Asia & Pacific is anticipated to constitute a highest growth in the load bank resistors market over the forecasted period. The Asia Pacific shows significant growth in load bank resistors market owing to factors such as numerous investments in South Asia & Pacific countries and rapid technological developments.
Many countries in South Asia & Pacific region needs emergency power systems owing to natural calamities. Load banks helps to assess the emergency power supplies which deploys in such critical situations. Also portable load banks provide more flexibility thus the demand for portable load banks has been increased in recent years.
The key load bank vendors/companies offers their products to the respective private organizations as well as governments. Many countries such as Indonesia, India, and Vietnam faces natural calamities which fuels the demand for the load bank resistors market.
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North America is the second largest contributor to load bank resistors market, owing to presence of developed infrastructure for the telecommunication industry in the region. Telecommunication industry is the one of the end user industry of load bank resistors thus ultimately it fuels the demand for the load bank resistors market in the North America region.
Government of US spends remarkable amounts on its electricity departments which provides continuous electricity to US population. Thus it has been one of factor which drives the demand for the load bank resistors market in the North America region.
US spends significant amount of money procuring temporary power generating solutions which helps to provide electricity in case of emergency power need or natural disaster. Also Canada needs temporary power solutions in natural emergencies like sudden electricity outage or natural disasters in gas and oil producing areas.
Canada houses several offshore and onshore gas & oil fields, which propels the demand for the continuous power generation. Such factors fuels the demand for load bank resistors market in the North America region.
Some of the leading vendors and companies of load bank resistors market include
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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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.
