Global Load Bank Market to Grow at a CAGR of 1.90% During 2024-2032, Driven by its Deployment in Various End Use Sectors

The increasing focus across industries to ensure the proper working of emergency power sources and associated equipment supports the load bank market growth. Resistive load banks are rising in popularity as they provide a simulated electrical load for generators and backup power systems. These load banks are ideal for clearing carbon build-up in the engine for engine-only exercising and general engine maintenance. It is a commonly used cost-effective option for preventative maintenance. Resistive load banks find use in a range of applications, from testing turbines, generators, and rotary UPS in manufacturing to maintenance in mission-critical facilities, such as hospitals and data centres.

The Asia Pacific is anticipated to hold a significant share of the market owing to its growing industrial sector and expansion of data centres. Data centres across the Asia Pacific are growing in scale owing to increased demand as a result of continued  igitization and wider adoption of artificial intelligence. According to Cushman & Wakefield’s H1 2023 Asia Pacific Data Centre Update report, Beijing, Singapore, Sydney, Shanghai, and Tokyo account for 62% of the operational data centre capacity in Asia Pacific. Load banks are deployed during the commissioning, maintenance, expansion, and component replacement of modern data centres.

The major energy producers, such as Duke Energy Corp (NYSE: DUK) use load banks to simulate an electrical load and test an electric power source such as a generator, without connecting it to its normal operating load.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Breakup by Current Type, Type, Product Type, End Use, and Region:

• The market is segmented based on current type into alternating current (AC) and direct current (DC).

• By type, the market is segmented into stationary and portable.

• By product type, the load bank market is segmented into resistive load bank, radiator load bank, and resistive reactive load bank.

• By end use, the market segments include oil and gas, power generation, government, healthcare, manufacturing, and others.

• Region-wise, the global market for load banks can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The expansion of data centres globally owing to continued digitisation aids the demand for load testing using load banks. Load testing during the commissioning of data centres ensures any faulty electrical components are replaced before going live.

• Advancements in microprocessor technology are helping to improve the overall testing performance of load banks, thus increasing their efficiency.

• Power outages caused by servers and unpredictable weather conditions are increasing the demand for alternative power sources. Businesses are investing in generators to prevent financial losses due to power failures. The demand for alternative power sources is aiding the demand for load banks to efficiently conduct load testing of the equipment.

• Load banks are critical in the oil and gas sector, especially for commissioning turbines destined for offshore use.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for load banks for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the current type, type, product type, end use, and major regions of load bank.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the load bank market are ASCO Power Technologies, L.P., Simplex, Inc., Dekal Load Banks, Trystar, Cressall Resistors Ltd, Aktif Group, MegaResistors Corporation, and M.S. Resistances, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.