Covina, California, January 11, 2021 (Global News Service)-A load bank is a device that provides electrical loads for testing power sources such as UPS and generators. Usually the load group is used for the factory test of the generator set, the test of the battery system, the ground power test and the factory test of the turbine. Large investments in industry, real estate, IT and telecommunications, and power plants will drive the generator market and thus the load bank market.
By 2029, the global load bank market is estimated to be USD 225.7 million, with a compound annual growth rate of 3.10% expected.
Report “Global load bank market, by type (resistive, reactive, and combined), by application (power generation, government/military, maritime/shipyard, oil, gas and nuclear energy, data center, industry and others)”, And by region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa)-trends, analysis and forecasts up to 2029″.
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Due to the surge in global demand for load group resistors, the increased demand for load testing activities for generator sets is attracting end users. Due to increased investment, some load bank manufacturers have designed and launched handheld portable load banks, attracting a large number of end users. A considerable proportion of end users prefer to rent these load boxes; the demand for portable load boxes is increasing. There are several other wheeled load groups on the load group resistor market, and they are becoming more prominent, which promotes the growth of load groups. Oil and gas is a prominent industry in the load group resistor market. Oil and gas companies deploy generator sets to ensure continuous power supply for their offshore and onshore facilities. From a manufacturing point of view, the increase in load bank adoption is directly proportional to the purchase of load bank resistors. This factor is a key driving factor for the global load bank resistor market.
The market is driven by factors such as refurbishing aging electrical infrastructure and increasing investment in the power distribution sector. The ever-increasing renewable energy generation is expected to drive the demand for load disconnect switches.
Browse 60 market data tables* and 35 numbers* on the “Global Load Banking Market”, through 140 slides and in-depth TOC, by type (resistive, reactive, and combined), by application (power generation, government /Military, Maritime/Shipyard), Oil, Gas and Nuclear Energy, Data Center, Industry and Others) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)-Trends, Analysis and Forecasts to 2029
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By 2029, the global load bank market is estimated to be USD 225.7 million, with a compound annual growth rate of 3.10% expected. The market report has been segmented according to type, application and region.
Well-known companies operating in the global pharmaceutical membrane filtration technology market include Northbridge, Coudoint SAS, Jovyatlas, MS Resistance, Metal Deploye Resistor, Hillstone, Astro Geo Marine Inc., ESSEX ELECTRO, MCM Engineering, Inc., Aurora Generators and CHROMALOX.
The market provides detailed information about the industrial base, productivity, advantages, manufacturers and recent trends, which will help the company expand its business and promote financial growth. In addition, the report also shows dynamic factors, including market segments, sub-segments, regional markets, competition, major players and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions and partnerships, as well as regulatory frameworks in different regions that affect the trajectory of the market. The report includes the latest technological advances and innovations affecting the global market.
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