Market Overview:
The global load bank hire market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for power globally and the growing need for backup power solutions. Additionally, the increasing number of data centers is also contributing to the growth of this market. The resistive load bank segment is expected to dominate the global load bank hire market during the forecast period, owing to its low cost and easy installation. However, reactive load banks are expected to grow at a higher CAGR during the forecast period as they are used for testing purposes and help in improving system reliability by simulating real-world conditions. In terms of application, power plants are expected to account for majority ofthe demand forload banksduringthe forecastperiodas there is an increase in investmentsin these facilities across all regions.
Product Definition:
A load bank is a device used to apply a controlled load to an electrical circuit or power supply. Load banks are often used for testing or calibrating generators, motors, and other electrical equipment.
Resistive Load Bank:
Resistive load bank, also called as reactive or passive load bank is a device used to store electrical energy. It works on the basic principle of electromagnetic induction. A resistive element such as a coil of wire is placed in an electric field and electricity is stored in the form of current induced into this element. The most common usage of resistive load banks are for charging batteries that are used in solar power systems and wind powered systems, which require frequent charge up's (PV).
Reactive Load Bank:
The reactive load bank is a device used to store and conserve energy during power outages. It works by harnessing the kinetic energy present in the form of falling objects or water from a reservoir. The load bank stores this energy in the form of an electrical charge which can be used later when there is no electricity for short periods due to frequent blackouts or power failures.
Reactive load banks are most commonly utilized during natural disasters such as floods, earthquakes, hurricanes, etc.
Application Insights:
The power plant application segment accounted for the largest revenue share in 2017 and is projected to continue its dominance over the forecast period. The growth can be attributed to factors such as increasing demand for electricity from growing population, rapid urbanization, rising disposable income and changing lifestyles.
The government/military application segment is expected to register a significant CAGR of XX% during the forecast period owing to increasing military spending across various countries including China, India and U.S.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a surge in industrialization, especially China and India. Growing demand for electricity across these countries has led to an increase in power generation activities, which is anticipated to drive the regional load bank hire market over the forecast period.
The North America regional market held a share of around 25% of total revenue generated by the global industry owing to high investments made by governments for developing renewable energy sources such as wind and solar energy along with other initiatives taken up by regulatory bodies such as NAFI (National Association of Regulatory Utility Commissioners) that are aimed towards reducing carbon footprint associated with conventional fossil fuel based electricity generation sources.
Europe also accounted for a significant share within the global industry due to growing awareness regarding security issues arising out of terrorism at domestic levels coupled with government policies implemented at international levels pertaining towards national security and defense against foreign threats or attacks.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization
- Rising concerns over grid security and reliability
- Proliferation of intermittent renewable energy sources such as solar and wind
- Growing number of data centers and electric vehicles
- Development of smart grids and energy storage technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Load Bank Hire Market Research Report
By Type
Resistive Load Bank, Reactive Load Bank, Resistive/Reactive Load Bank
By Application
Power Plant, Government/Military, Maritime/Shipyards, Oil, Gas and Nuclear, Data Centers, Industrial, Others
By Companies
United Rentals, Sunbelt Rentals, Aggreko, ComRent, Northbridge, Optimum Power Services, Kennards Hire, Byrne Equipment Rental, Tatsumi Ryoki, Gregory Poole, Starline Power, Rentaload, Global Power Supply, LLC., Holt of California, Energyst, Load Banks Direct, Simplex, LM Generating Power Company Ltd., Worldwide Power Products, Perennial Technologies Pvt. Ltd., CSME Power Systems, Jovyatlas
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
190
Number of Tables & Figures
133
Customization Available
Yes, the report can be customized as per your need.
Global Load Bank Hire Market Report Segments:
The global Load Bank Hire market is segmented on the basis of:
Types
Resistive Load Bank, Reactive Load Bank, Resistive/Reactive Load Bank
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Plant, Government/Military, Maritime/Shipyards, Oil, Gas and Nuclear, Data Centers, Industrial, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- United Rentals
- Sunbelt Rentals
- Aggreko
- ComRent
- Northbridge
- Optimum Power Services
- Kennards Hire
- Byrne Equipment Rental
- Tatsumi Ryoki
- Gregory Poole
- Starline Power
- Rentaload
- Global Power Supply, LLC.
- Holt of California
- Energyst
- Load Banks Direct
- Simplex
- LM Generating Power Company Ltd.
- Worldwide Power Products
- Perennial Technologies Pvt. Ltd.
- CSME Power Systems
- Jovyatlas
Highlights of The Load Bank Hire Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Resistive Load Bank
- Reactive Load Bank
- Resistive/Reactive Load Bank
- By Application:
- Power Plant
- Government/Military
- Maritime/Shipyards
- Oil, Gas and Nuclear
- Data Centers
- Industrial
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Load Bank Hire Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Load bank hire is the process of hiring a truck or trailer to transport large amounts of material. The load bank can be filled with sand, gravel, rocks, or other construction materials.
Some of the major companies in the load bank hire market are United Rentals, Sunbelt Rentals, Aggreko, ComRent, Northbridge, Optimum Power Services, Kennards Hire, Byrne Equipment Rental, Tatsumi Ryoki, Gregory Poole, Starline Power, Rentaload, Global Power Supply, LLC., Holt of California, Energyst, Load Banks Direct, Simplex, LM Generating Power Company Ltd., Worldwide Power Products, Perennial Technologies Pvt. Ltd., CSME Power Systems, Jovyatlas.
The load bank hire market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Load Bank Hire Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Load Bank Hire Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Load Bank Hire Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Load Bank Hire Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Load Bank Hire Market Size & Forecast, 2018-2028
4.5.1 Load Bank Hire Market Size and Y-o-Y Growth
4.5.2 Load Bank Hire Market Absolute $ Opportunity
Chapter 5 Global Load Bank Hire Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Load Bank Hire Market Size Forecast by Type
5.2.1 Resistive Load Bank
5.2.2 Reactive Load Bank
5.2.3 Resistive/Reactive Load Bank
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Load Bank Hire Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Load Bank Hire Market Size Forecast by Applications
6.2.1 Power Plant
6.2.2 Government/Military
6.2.3 Maritime/Shipyards
6.2.4 Oil
6.2.5 Gas and Nuclear
6.2.6 Data Centers
6.2.7 Industrial
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Load Bank Hire Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Load Bank Hire Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Load Bank Hire Analysis and Forecast
9.1 Introduction
9.2 North America Load Bank Hire Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Load Bank Hire Market Size Forecast by Type
9.6.1 Resistive Load Bank
9.6.2 Reactive Load Bank
9.6.3 Resistive/Reactive Load Bank
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Load Bank Hire Market Size Forecast by Applications
9.10.1 Power Plant
9.10.2 Government/Military
9.10.3 Maritime/Shipyards
9.10.4 Oil
9.10.5 Gas and Nuclear
9.10.6 Data Centers
9.10.7 Industrial
9.10.8 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Load Bank Hire Analysis and Forecast
10.1 Introduction
10.2 Europe Load Bank Hire Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Load Bank Hire Market Size Forecast by Type
10.6.1 Resistive Load Bank
10.6.2 Reactive Load Bank
10.6.3 Resistive/Reactive Load Bank
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Load Bank Hire Market Size Forecast by Applications
10.10.1 Power Plant
10.10.2 Government/Military
10.10.3 Maritime/Shipyards
10.10.4 Oil
10.10.5 Gas and Nuclear
10.10.6 Data Centers
10.10.7 Industrial
10.10.8 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Load Bank Hire Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Load Bank Hire Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Load Bank Hire Market Size Forecast by Type
11.6.1 Resistive Load Bank
11.6.2 Reactive Load Bank
11.6.3 Resistive/Reactive Load Bank
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Load Bank Hire Market Size Forecast by Applications
11.10.1 Power Plant
11.10.2 Government/Military
11.10.3 Maritime/Shipyards
11.10.4 Oil
11.10.5 Gas and Nuclear
11.10.6 Data Centers
11.10.7 Industrial
11.10.8 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Load Bank Hire Analysis and Forecast
12.1 Introduction
12.2 Latin America Load Bank Hire Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Load Bank Hire Market Size Forecast by Type
12.6.1 Resistive Load Bank
12.6.2 Reactive Load Bank
12.6.3 Resistive/Reactive Load Bank
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Load Bank Hire Market Size Forecast by Applications
12.10.1 Power Plant
12.10.2 Government/Military
12.10.3 Maritime/Shipyards
12.10.4 Oil
12.10.5 Gas and Nuclear
12.10.6 Data Centers
12.10.7 Industrial
12.10.8 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Load Bank Hire Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Load Bank Hire Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Load Bank Hire Market Size Forecast by Type
13.6.1 Resistive Load Bank
13.6.2 Reactive Load Bank
13.6.3 Resistive/Reactive Load Bank
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Load Bank Hire Market Size Forecast by Applications
13.10.1 Power Plant
13.10.2 Government/Military
13.10.3 Maritime/Shipyards
13.10.4 Oil
13.10.5 Gas and Nuclear
13.10.6 Data Centers
13.10.7 Industrial
13.10.8 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Load Bank Hire Market: Competitive Dashboard
14.2 Global Load Bank Hire Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 United Rentals
14.3.2 Sunbelt Rentals
14.3.3 Aggreko
14.3.4 ComRent
14.3.5 Northbridge
14.3.6 Optimum Power Services
14.3.7 Kennards Hire
14.3.8 Byrne Equipment Rental
14.3.9 Tatsumi Ryoki
14.3.10 Gregory Poole
14.3.11 Starline Power
14.3.12 Rentaload
14.3.13 Global Power Supply, LLC.
14.3.14 Holt of California
14.3.15 Energyst
14.3.16 Load Banks Direct
14.3.17 Simplex
14.3.18 LM Generating Power Company Ltd.
14.3.19 Worldwide Power Products
14.3.20 Perennial Technologies Pvt. Ltd.
14.3.21 CSME Power Systems
14.3.22 Jovyatlas
