The global load bank market was valued at US$ 284.8 Million in 2020 and expected to reach US$ 386.7 Million by the end of the forecast period, expanding at a CAGR of 5.3% during the forecast period. The high adoption of diesel generators and power backup systems among various industries is one of the prime factors boosting the demand for load banks worldwide.
The Asia Pacific is the largest market for load banks and expected to retain market dominance throughout the forecast period as well. The dominance of the region is supported by huge contributions from China and major players operating in the space of the manufacturing industry. The load bank market is highly fragmented as a large number of players offer a wide range of products and services across the globe. There is no dominant shareholder in the global load bank market, who acquires more than 4% of the total revenue.
The research report analyses the ecosystem of the Load Bank market and categorizes the Load Bank Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
Market Size by Current Type
Market Size by Type
Market Size by Product Type
Market Size by End-Use Industry
Market Size by Region
By Type, the stationary segment accounted for a larger market share in the year 2020
Based on the type, the stationary segment of the load bank market accounted for a market share of 61.5% in 2020. Generators are often used for emergency purposes and therefore are commonly used in those industries where power emergencies are on high priority. They are crucial in oil & gas, manufacturing, and service-oriented industries such as healthcare, data center, where generators are used onsite for standby purposes. Any type of backup generator (portable or stationary) gives users assurance of availability for a power source to fall back on. However, the failure of generators might cause severe damage to the production or operations of the manufacturer/company.
By Product Type, resistive load bank is estimated to be a larger type market in the Load Bank market in 2020
Based on product type, load banks can be classified into resistive, radiator, and resistive reactive load banks. Resistive type of load bank is commonly used and thus acquired the largest market share in terms of revenue and number of units sold. Resistive load bank provides loading for prime movers as well as generators. The load elements simulate unity power factor loads such as some type of lighting or heating and resist current flow linearly. Resistive load banks convert electrical energy into heat, which must be removed from it.
The key player's operation in the global Load Bank market includes Metal Deploye Resistor, Simpax Sp. z o.o, Cressall Resistors Ltd., Schneider Electric S.E., Hilkar Ltd, Aktif Group, Microelettrica Scientifica SpA, Littelfuse, Inc., MegaResistors Corporation, National Resistors, among others. The market dominance of these companies is characterized by their vast product portfolio of Load Bank, high investment in R&D activities for Load Bank, revenue, capital expenditure, employee strength, and geographical presence of companies.
In-depth analysis of market dynamics such as drivers, restraints opportunities, and challenges:
|Sr. No.||Key Trends||Impact|
|1||The rising industrial automation requires a continuous power supply thereby driving the demand for uninterruptible power supplies||Positive|
|2||Increasing efforts made to reduce carbon emissions and to encourage sustainable lifestyle, thereby accelerating the use of renewable energy sources||Positive|
|3||Accelerating demand for lead-acid batteries as most popular standby UPS power source across data centers, offices, and other commercials, industrial, and retail environments||Positive|
|4||Flexible and innovative methods adopted to boost the renewable energy sector as the world is moving towards 100% renewable energy||Positive|
The report also provides an in-depth analysis of recent News Developments and Investments:
The unique insights provided by this report also includes the following:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Chapter 1. Executive Summary
Chapter 2. Market Dynamics and Outlook
Chapter 3. Global Load Bank Market (US$ Mn, Units), by Current Type, 2016 -2026
Chapter 4. Global Load Bank Market (US$ Mn, Units), by Type, 2016 -2026
Chapter 5. Global Load Bank Market (US$ Mn, Units), by Product Type, 2016 -2026
Chapter 6. Global Load Bank Market (US$ Mn, Units), by End-Use Industry, 2016 -2026
Chapter 7. Global Load Bank Market (US$ Mn, Units), by Geography, 2016 -2026
Chapter 8. Competitive Intelligence
Chapter 9. Company Profiles
Chapter 10. Research Methodology