Global Load Bank Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Load Bank Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Load banks are devices designed to provide electrical loads for testing power sources such as generators and Uninterruptible Power Supplies (UPS). Load banks are also used to reduce wet stacking problems in diesel engines of backup generating systems. They are used in a variety of ways including factory testing of generator sets, periodic exercising of standby engine generator sets, battery system testing, ground power testing, load optimization in prime power applications, and factory testing of turbines. The load bank includes resistive load bank, inductive load bank, capacitive load bank and manufacturers can provide the resistive/inductive load bank or resistive/inductive/capacitive load bank according to the Client's request.

Market Overview:

The latest research study on the global Load Bank market finds that the global Load Bank market reached a value of USD 382.93 million in 2022. It’s expected that the market will achieve USD 407.49 million by 2028, exhibiting a CAGR of 1.04% during the forecast period.

Market Opportunities

The growing focus on preventive maintenance will drive the growth prospects for the global load bank market in the next few years. One of the major factors responsible for the growing focus on preventive maintenance is the rising cost of downtime in various mission-critical industries such as power, defense, data centers, and healthcare. Consequently, a multitude of players in these industries are increasingly adopting different preventive maintenance programs to ensure the reliability of power systems and electrical components. It has been observed that electrical equipment can deteriorate under hostile conditions such as overload or severe duty cycle, which can be prevented by one of the most commonly used methods called load bank testing.
A large number of vendors are increasingly focusing on offering value-added products in addition to the introduction of new advanced technologies to expand their geographical reach and product base. One of the major factors responsible for the increasing growth potential of these vendors in the market includes essentiality of testing power critical technology in banking, medical, marine, and defense industries.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Emerson (Vertiv), Kaixiang and Jovyatlas with the revenue market share of 29.11%, 12.04% and 10.59% in 2018.

Vertiv brings together hardware, software, analytics and ongoing services to enable continuous and optimal running of vital applications for data centers, communication networks, and commercial and industrial facilities. Its portfolio comprises of power, cooling and IT infrastructure solutions and services, extending from the cloud to the edge of the network.

Hebei Kaixiang Electrical Technology Co., Ltd is a leading manufacturer in emergency power supply test & maintenance industry. Specialized in the design, R&D, manufacture of the high capacity AC & DC load bank, it owns the professional intelligent power supply testing equipment R & D centre in China. Kaixiang offer one-stop solutions to generator set & battery & UPS power manufacturers.

Segmentation Overview:

Among different product types, Resistive Load Bank segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Power Generation segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Load Bank market covered in Chapter 3:

Pite Tech
MS Resistances
Kaixiang
Northbridge
Jovyatlas
Eagle Eye
Metal Deploye Resistor
Thomson
Sephco Industries
Tatsumi Ryoki
Shenzhen Sikes
Emerson (Vertiv)
Storage Battery Systems
Greenlight Innovation
Mosebach
Powerohm (Hubbell)

In Chapter 4 and Chapter 14.2, on the basis of types, the Load Bank market from 2018 to 2029 is primarily split into:

Resistive Load Bank
Reactive Load Bank
Resistive/Reactive Load Bank

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Load Bank market from 2018 to 2029 covers:

Power Generation
Government/Military
Maritime/Shipyards
Oil, Gas & Nuclear
Data Centers
Industrial
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)