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 2018 – 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. Portable load banks are the most preferred solutions owing to the advantage of their flexibility. Referring to the growing number of natural calamities in countries such as Japan, Indonesia, and Vietnam, among others, several load bank companies are offering their products to the respective governments as well as private organizations. This factor is leapfrogging the growth of the revenue size of load bank resistor market in the Asia Pacific region. This as a result has positively impacted load bank resistor market
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. 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. For instance, in 2019, ASCO launched Sigma LT Control System for 5000 Series Load Banks. The Sigma LT digital control system can now be utilized for offering advanced control and data logging for ASCO’s Model 5505, 5605, and 5905 load banks. Furthermore, in 2015, Mosebach Manufacturing company displayed its wide range of load banks at Power Gen International in Las Vegas. These market initiatives and strategic expansions are expected to continue during the forecast period, contributing to the high growth of load bank resistor market in the region.
Lucrative Regional Load Bank Resistor Market
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Load Bank Resistor Market Insights
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.
Types Segment Insights
The load bank resistor market by type is segmented into resistive, reactive, and resistive and reactive. The increasing number of data centers across the globe is leading to rising in the adoption of UPS and additional power generators. Thus, the rising trend of installation of backup power generation system leads to the adoption of load banks. Pertaining to the fact that resistive load banks offer substantial benefits, the growing trend of data centers is foreseen to create lucrative opportunities in the market. These factors resulted in the steady growth of load bank resistor market.
Application Segment Insights
Investments in the development of data centers in developed countries as well as developing countries are anticipated to soar in the coming years. This factor is foreseen to result in an increase in the procurement of battery systems, which needs to be monitored for smooth functioning under different conditions. Accentuating demand for battery system testing is expected to drive the load bank industry, thereby, catalyzing the market size of load bank resistor market. Thus, these factors are driving the adoptions of these load bak resistor across various applications.
Rest of Asia Pacific Load Bank Resistor Market by Type
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Load Bank Resistor Market: Strategic Insights
Market Size Value in US$ 214.48 Million in 2018 Market Size Value by US$ 318.57 Billion by 2027 Growth rate CAGR of 4.5% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Load Bank Resistor Market: Strategic Insights
Market Size Value in | US$ 214.48 Million in 2018 |
Market Size Value by | US$ 318.57 Billion by 2027 |
Growth rate | CAGR of 4.5% from 2019-2027 |
Forecast Period | 2019-2027 |
Base Year | 2019 |
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Speak to AnalystSome of the market initiatives were observed to be most adopted strategy in the global load bank resistor market. Few of the recent market initiatives are listed below:
2019:Danotherm Electric attended PCIM Europe, an international leading exhibition for Power Electronics, Intelligent Motion, Renewable Energy and Energy Management. In this exhibition, the company discussed about the new technologies, products, ongoing and new projects. Additionally, the company unveiled its plan to introduce resistors from ATE Electronics Srl, which is a brand in the Danotherm Electric resistor group.
2018:Widap AG acquired S.I.R. Società Italiana Resistor in Catellanza, Italy. This acquisition has facilitated the company to expand its resistor technology in the Europe. As a result of this acquisition, S.I.R has been operating as a long-standing supplier of Widap AG products.
2017:Cressall signed a new global distribution agreement with RS Components. This new deal enabled industrial customers to buy Cressall’s resistors and portable load banks from any of the 32 countries in which RS operates.
2016:Danotherm Electric released CMQ Compact Alpha Power Resistor. This new resistor has a very high pulse load capability for 1 second exceeding even more than 380 times the nominal load power. This resistor is ideal for high pulse load application like LVRT and other high dump loads from drive applications.
GLOBAL LOAD BANK RESISTOR MARKET SEGMENTATION
Global Load Bank Resistor Market – By Type
- Resistive
- Reactive
- Resistive and Reactive
Global Load Bank Resistor Market – By Application
- Battery Systems Testing
- Generators Testing
- UPS Testing
- Turbines Testing
- Others
Global Load Bank Resistor Market – By Geography
North America
- U.S.
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- Japan
- South Korea
- Rest of APAC
Middle EAST & Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Rest of Middle East & Africa
South America
- Brazil
- Rest of SAM
Global Load Bank Resistor Market - Company Profiles
- ASCO Power Technologies
- Cermet Resistronics Private Limited
- Danotherm Electric Aands
- Mosebach Manufacturing Company
- Megaresistors
- Cressall
- Sandvik AB
- Tutco Farnam
- Vishay Intertechnology Inc.
- Widap AG
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Load Bank Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The List of Companies
- ASCO Power Limited
- Cermet Resistor Pvt. Ltd.
- Cressall Resistor Ltd.
- Crestchic Limited
- Danotherm Electric A/S
- Mosebach Manufacturing Company
- Sandvik AB
- Tutco-Farnam Custom Products
- Vishay Intertechnology, Inc.
- Widap AG
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
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We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
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- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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