Load Bank Resistors Market Scope
Load bank resistors are devices that contain resistive, inductive, and/or capacitive loads. Resistive, inductive, and/or capacitive loads are all present in load bank resistors. These devices connect an electrical power supply to a load and then dissipate the power. Load banks provide planned and regulated loads that use their energy output to test, maintain, or protect the power source, unlike on-site loads, which are unpredictably variable in terms of many electrical factors. These powerful heating components are connected by a network of resistors that absorb the load from a generator, battery, or other power sources. Due to a global surge in demand for load bank resistors, an increase in demand for load testing operations for generator sets is attracting end-users. Due to increased investments, several load bank manufacturers have invented and introduced hand portable load banks, which have attracted a large number of end-users. From a production standpoint, the use of load banks is directly linked to the procurement of load bank resistors, and this aspect is a key driver of the worldwide load bank resistor market. The load bank resistor market is dominated by the oil and gas industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | ASCO Power Technologies(United States), Cermet Resistronics Private Limited (India), Hubbell Power Systems Inc (United States), MosebachManufacturing Company (United States), Megaresistors (Canada), Cressall (United Kingdom), Sandvik AB (Sweden), TutcoFarnam(United States), Vishay Intertechnology Inc. (United States) and Widap AG (Switzerland) |
CAGR | 4.5% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Load Bank Resistors market throughout the predicted period.
ASCO Power Technologies(United States), Cermet Resistronics Private Limited (India), Hubbell Power Systems Inc (United States), MosebachManufacturing Company (United States), Megaresistors (Canada), Cressall (United Kingdom), Sandvik AB (Sweden), TutcoFarnam(United States), Vishay Intertechnology Inc. (United States) and Widap AG (Switzerland) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Load Bank Resistors market by Type , by Application (Generators, Uninterruptible Power Supplies, Turbines, Battery Systems and Others) and Region with country level break-up.
On the basis of geography, the market of Load Bank Resistors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
December 2020 – Sandvik completes the acquisition of Miranda Tools’ business. The Miranda Tools’ business will be part of Sandvik Machining Solutions’ division Dormer Pramet, within the business area Sandvik Manufacturing and Machining Solutions.
On June 8, 2022, Cressall Resistors launched a new division specifically for its load bank range — Power Prove. This division focuses on providing an extensive range of load bank designs with competitive lead times and pricing, and enhanced features such as power measurement, data logging, remote control, and multi-load bank networking.
Influencing Trend:
Hand Portable Load Banks and Growing research and Development Activities
Market Growth Drivers:
Increasing Demand for Load Test Activities for Gen-sets and High Procurement of Load Bank Resistors from a Manufacturing Point of View
Challenges:
Operational Barriers for Batteries
Restraints:
High Cost of Products
Opportunities:
Growing Demand from Oil and Gas Industry and Technological Advancements
Key Target Audience
Manufacturers of Load Bank Resistor, Suppliers of Load Bank Resistor, Wholesalers, Distributors and Retailers of Load Bank Resistor, End Users, Investors and Electronic Industry