According to the new research report available at MarketStudyReport.com under the title ‘Load Bank Resistor Market to 2027 - Global Analysis and Forecasts by Load Bank Type (Resistive, Reactive, and Resistive & Reactive) and Application (Battery System, Generator, Uninterruptible Power Supplies (UPS), Turbines, and Others)’, the worldwide load bank resistor market is anticipated to amass US $318.57 million by the year 2027.
 

Extensive adoption of load test activities for gen-sets, couple with the features like portability and reliable construction are propelling the demand for load bank resistors. Shifting consumer preference for renting these units has encouraged the manufacturers to develop hand-portable load banks, thereby boosting the growth of load bank resistor market.
 

Moreover, expansion of oil & gas industry is further augmenting the market outlook. These industries install gen-sets to ensure continuous electricity supply for onshore and offshore facilities. Adverse weather conditions across the globe is giving rise to the incidences of blackout and power outage, hence fueling the adoption of gensets, which contributing towards the growth of load bank resistor market.
 

According to the report, load bank resistor market was worth USD 214.48 million in the year 2018 and is anticipated to expand with a CAGR of 4.5% through the year 2027.
 

Based on the type, the market is segmented as reactive, resistive, and reactive & resistive. Load bank resistor market from resistive segment contributed the largest revenue share in 2018, owing to its ability to test generators at full capacity and providing precise results. Furthermore, resistive & reactive segment is presumed to gain accelerated growth over the forecast period, due to shifting consumer preference, cites the report.
 

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Speaking of application spectrum, load bank resistor market is fragmented as battery system, uninterruptible power supply (UPS), generator, turbines, and others. While as per geographical landscape, Asia Pacific load bank resistor market is estimated to witness accelerated growth during the analysis period, on account of budding telecommunication industry.
 

The prominent companies operating in load bank resistor market include Sandvik AB, ASCO Power Technologies, Cermet Resistronics Pvt. Ltd., Vishay Intertechnology, Inc., Cressall Resistors Ltd., Crestchic Ltd., Danotherm Electric A/S., Tutco-Farnam Custom Products, Mosebach Manufacturing Company, and Widap AG.