What is Global Load Bank Market?
The Global Load Bank Market is a specialized sector that focuses on the production and distribution of load banks. These are devices designed to provide electrical loads for testing power sources such as generators and Uninterruptible Power Supply (UPS) systems. They work by mimicking the operational or "real" load that a power source will see in actual application. However, unlike the "real" load, which is likely to be dispersed throughout a facility, a load bank provides the contained, organized load. In 2022, the market value for these essential devices was US$ 160.6 million. The market is expected to grow and reach a value of US$ 212 million by 2029. This growth is anticipated to occur at a Compound Annual Growth Rate (CAGR) of 4.0% from 2023 to 2029. The market is dominated by three major players who collectively hold approximately 45% of the total global market.
Resistive Load Bank, Reactive Load Bank, Resistive/Reactive Load Bank in the Global Load Bank Market:
The Global Load Bank Market is segmented into three main types: Resistive Load Bank, Reactive Load Bank, and Resistive/Reactive Load Bank. A Resistive Load Bank provides equivalent loading for both generators and prime movers. That is, for each kilowatt (or horsepower) of load applied to the generator by the load bank, an equal amount of load is applied to the prime mover by the generator. A Reactive Load Bank, on the other hand, is used when testing power factor corrected systems, including UPS and generators. It simulates the lagging power factor loads common in real commercial power systems. The Resistive/Reactive Load Bank is a combination of the two and is used to simulate the mixed commercial loads consisting of lighting, heating, and motor loads.
Power Generation, Government/Military, Maritime/Shipyards, Oil, Gas, & Nuclear, Data Centers, Industrial, Others in the Global Load Bank Market:
The Global Load Bank Market finds its application in various sectors including Power Generation, Government/Military, Maritime/Shipyards, Oil, Gas, & Nuclear, Data Centers, Industrial, among others. In Power Generation, load banks are used to test generators and turbines. In the Government/Military sector, they are used for testing and maintaining standby power systems. In Maritime/Shipyards, load banks are used for testing shipboard auxiliary power systems and ground power units. In the Oil, Gas, & Nuclear sector, load banks are used for testing and maintaining emergency power systems. In Data Centers, load banks are used to test and maintain UPS systems and generators. In the Industrial sector, load banks are used for acceptance testing of generators and turbines and for periodic exercising of standby engine generator sets.
Global Load Bank Market Outlook:
To rephrase the market outlook, the Global Load Bank Market, which was valued at US$ 160.6 million in 2022, is projected to grow and reach a value of US$ 212 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period of 2023 to 2029. The market is currently dominated by three major players who collectively hold approximately 45% of the total global market. This indicates a high level of market concentration, with these top players having a significant influence on market trends and prices.
| Report Metric | Details |
| Report Name | Load Bank Market |
| Accounted market size in 2022 | US$ 160.6 million |
| Forecasted market size in 2029 | US$ 212 million |
| CAGR | 4.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | ASCO Power Technologies(Schneider Electric), Simplex, Northbridge Industrial Services plc (Crestchic), Kaixiang, Tatsumi Ryoki, Mosebach, Sephco, Metal Deploye Resistor, Shenzhen Sikes, Pite Tech, Load Banks Direct, M.S. RESISTANCES, Greenlight Innovation, Wärtsilä JOVYATLAS |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
