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Competitive LandscapeThe key players of Global Load Bank Market report include Northbridge (Crestchic), Astro Geo Marine Inc., ESSEX ELECTRO, MCM Engineering Inc., Aurora Generators, Coudoint S.A.S., Jovyatlas, MS Resistances, and CHROMALOX and many more.
Industry Developments
CIT Group Inc. announced that CIT Northbridge Credit, its joint venture financing unit, served as sole lead arranger on a $20 million senior secured revolving and term loan credit facility for Greene’s Energy Group, LLC. This will help the company provide a more economical and flexible senior debt solution to support the growing needs of the Greene’s Energy business. Successful execution of this credit facility serves as a component of their business strategy to expand their position in the market.
Aurora Energy Research is planning on bringing unsubsidized wind and solar power into a reformed capacity market to save bill payers hundreds of millions of pounds. It also suggests bringing zero marginal cost renewables into equivalent firm capacity auction would rein in both the clearing price and wholesale prices.
Market Synopsis
Market Research Future (MRFR) reports extensively that the Global Load Bank Market is projected to attain a moderate CAGR during the forecast period 2017-2022. Attributable factors are large amount of investment in industries, real estates, IT & telecom, and power generation plants as well as increasing demand for reliable power source, which will boost the market for generators and load Banks. Load banks are used in factory testing of generator set, factory testing of turbines, testing of battery system and ground power testing.
The market is also witnessing various trends, such as growth in smart grid market, rise in distributed power generation along with rising demand for load banks from renewable energy systems. Smart grids substantially enhance the energy distribution by using distributed energy resources (DER) such as power from renewable energy sources to aid utilities to adapt to demand patterns. Increasing adoption of load banks in distributed power networks allows a full range replication of the true, operational environment, shorter execution times, fewer man-hours, and also shorter lead-time planning. These trends are advantageous to the market and lead to its expansion.
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Market Segmentation
The load bank market can be segmented on the basis of type, application, and region.
Various types of load banks are resistive, reactive and resistive/reactive. Using a resistive/reactive combination load bank is used to simulate the backup power system’s performance in a changing load pattern, due to power disruption. Resistive/reactive testing of a facility’s backup power generation system is the only way to identify its weaknesses in the case of unplanned power disruptions.
The market is segmented on the basis of applications which are power generation, government/military, maritime/shipyards, oil, gas & nuclear, data center, industrial and many more. Load banks are used for commissioning and maintenance testing of campus power networks in government and military facilities as well as the diesel and gas turbine generators for applications in navy and coast guard vessels. Also, in data centers, controlled electrical load generated from load banks reduces unplanned downtime and ensures the equipment is properly installed and fully integrated. This is extremely economical and helps reveal problems with facility designs, individual components, and operational processes, thus saving time.
The load banks market is also segmented based on regions which are North America, Europe, Middle East and Africa, Asia-Pacific, and South America.
Regional Analysis of Global Load Bank Market
The load banks market is geographically spread across North America, Europe, Middle East and Africa, Asia-Pacific, and South America.
Asia Pacific is slated to lead the market among all the regions, according to MRFR report. Steady growth of industrialization in China, India, and Japan and other countries along with the need for continuous power source & backup power are estimated to drive the market for generators and bank load in the region.
Also, the market for load banks in many developed countries like North America and Europe is moving slowly towards the mature phase. In recent times, countries in Europe like U.K, Germany, France, and Russia have witnessed a dramatic increase in sales in data centers for load banks, due to critical need for robust testing. On the other hand, in North America, U.S, Canada, and Mexico have experienced high demand for load banks, particularly in healthcare and finance industries. These factors are majorly responsible for the meteoric rise in load bank market in these regions. Moreover, high demand for air conditioning testing leads to load bank requirements affecting the market positively.
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Load Bank Market - Table of Contents
1. Report Prologue
2. Introduction
3. Research Methodology
4. Market Dynamics
5. Load Banks Market, By Type
6. Load Banks Market, By Application
7. Load Banks Market, By Region
8. Load Banks Active Fleet Information
9. Company Landscape
To be Continue....,
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