Global
Load Bank Market Analysis
The Global
Load Bank Market is predicted to have a moderate growth at a favorable
CAGR over the forecast period (2018-2022), reveals the new Market Research Future
(MRFR) report. Load banks are a vital tool that contractors use for preparing
large electrical power systems for incorporating into the main power grid. They
are essential for various applications in different industries, mainly to test
power sources. It is a load bank that offers a fully controllable and contained
load for measurable and predictable use. Load banks mimic peak and average
loads that allow for measurement and testing of how power sources will perform
in operation. Today load banks are available in different types with specific
purposes. Matching the load bank with the application is vital to get accurate
results. Electronic, capacitive, inductive, and resistive are the four common
types of load banks.
Load banks play an essential role in the majority of
the industries, but are essentially vital in applications that use batteries,
generators, or other power sources. It has a huge range of applications
including wind turbines, removal of carbon build-up, load optimization, load
rejection test, ground power testing, exercising engine generators, reducing
wet stacking issues, and testing. The specialty of load banks is they help in
stimulating variable electrical load conditions which can be measured,
recorded, and controlled accurately. Not only this, load banks are often used
for reducing problems associated with wet stacking, especially in backup
generating systems that have diesel engines.
Market
Segmentation
The Market Research Future report offers a wide
segmental analysis of the load bank market based on application and type.
By application, the load bank market is segmented into
oil, gas and nuclear, power generation, data centers, industrial,
government/military, maritime/shipyards, and others. Of these, the power
generation segment will dominate the market during the forecast period.
Based on type, the load bank market is segmented into
resistive and reactive and reactive/resistive.
Regional
Analysis
Based on the region, the load bank market report
covers growth opportunities as well as the latest trends across North and South
America, Europe, the Middle East and Africa, and the Asia Pacific. Of these,
the Asia Pacific region will have the lion's share in the market during the
forecast period. India as well as China are the key contributors here. This is
owing to rapid industrialization and also the need for constant power source
and power backup.
The load bank market in North America and Europe is
predicted to move gradually to a mature phase over the forecast period.
Key
Players
Key players profiled in the load bank market report
include Coudoint S.A.S, CHROMALOX, Metal Deploye Resistor, ESSEX ELECTRO, MS
Resistances, Aurora Generators, Northbridge (Crestchic), Astro Geo Marine, Inc,
Jovyatlas, MCM Engineering, Inc, Hillstone, among others.
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