“The global load bank resistor market is estimated to account US$ 214.48 Mn in 2018 and is expected to grow at a CAGR of 4.5% during the forecast period 2020 – 2027, to account to US$ 318.57 Bn by 2027.”
Geographically, Asia-Pacific holds the largest load bank resistor market share, owing to rapid technological developments, and numerous investments in the APAC countries. The APAC load bank resistor market is also projected to grow with the highest growth rate during the forecast period. several countries in the APAC region face natural calamities that demand emergency power systems. Load banks are among the prominent solutions to assess the emergency power supplies deployed in such critical situations.
North America holds the second highest market share in the load bank resistor market. The primary reason for the growth of load bank resistor market is the The US government spends significant amounts in its electricity department to continuously provide the US population with the required electricity. For instance, in 2018, the country generated 4,178 billion kWh of electricity, out of which, fossil fuels such as natural gas, coal, petroleum (liquids and coke), and other gases held 63%, nuclear power plants held 20%, and 17% of electricity was generated from renewable sources.
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Global Load Bank Resistor Market – Company Profiles
- ASCO Power Technologies
- Cermet Resistronics Private Limited
- Danotherm Electric Aands
- Mosebach Manufacturing Company
- Sandvik AB
- Tutco Farnam
- Vishay Intertechnology Inc.
- Widap AG
The country invests decent amounts in procuring temporary power generating solutions to provide electricity in case of natural disaster or emergency power need. Similarly, Canada, on the other hand, also require temporary power solutions during emergencies such as natural disasters or sudden electricity outage in oil & gas producing areas. Canada houses several onshore and offshore oil & gas fields, which demands continuous power generation.
Increasing Demand for Load Test Activities for Gen-sets
The global electricity generation industry is observing a constant rise in terms of electricity generated and revenue earned out of generation. The continuous growth in industrialization is leading to an increase in the number of industrial infrastructures, resulting in demand for increased power generation and power distribution. The quantity of power required to run an industrial facility varies from one facility to another.
Pertaining to this, several industrial facilities are increasingly inclining towards the utilization of load banks, to gather information related to the system performance and load capacity under different conditions. Oil & gas is one of the prominent industries in the load bank resistor market. The oil & gas companies deploy gen-sets to ensure a continuous supply of electrical power to their offshore and onshore facilities. In case of any power disruptions at the offshore facility, the companies incur a huge loss.
Transforming Trend of Resistive Load Banks to Resistive & Reactive Load Banks
The resistive load banks have dominated and are continuing to dominate the load testing industry, attributing to several advantages. The significant adoption of resistive load banks is major because, these load banks test the generators at full capacity, thereby, providing the end-users with accurate and precise results. However, various industries require resistive load banks as well as reactive load banks for different purposes. This factor results in increased maintenance cost. Attributing to this, the preference of choosing load banks among these industries is shifting from two separate load banks to a single unit.
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