Aug 2 – The coiled turbine market, by service, is seen expanding at a compound annual growth rate (CAGR) of 6-7% to reach an estimated $4.4 billion in 2020. North America is the largest market for coiled turbine (CT), both by value and by active fleet count. The United States in 2013 held the major share of the active fleet count of more than 59%, spurred by the surge of shale gas drilling activities, with analyst seeing further growth potential for ultra-deep CT services.
At events, particularly major sporting shows, there is need to fast-track power solutions and maintain a stable, continuous supply. RnRMarketResearch has singled out the sector as the growth driver for rental power solution: Expanding at over 8% per annum, the global power rental market is estimated to be worth $20.64 billion by 2022.
Seven electricity providers in the western part of the United States and Canada are considering joining the California Independent System Operator’s (CAISO) western energy imbalance market (EIM) which enables more frequent dispatch of generating assets, and electricity trade in the sub-hourly market. Since late 2014, CAISO estimates the gross financial benefit for EIM members is about $174 million.
June 26 – Electric car deployment is swift in some markets: In Norway, electric cars had a 29% market share last year, the highest globally, followed by the Netherlands with 6.4%, and Sweden with 3.4%. Globally, the number of electric cars on the roads rose to 2 million in 2016, following a year of strong growth in 2015, according to of the International Energy Agency’s latest Global EV Outlook. China was the largest EV market in 2016, accounting for more than 40% of new sales.
June 8 – The global market for utility communication devices, valued at $6.53 billion in 2015, is expected to grow by 15.55% per annum in the years running up to 2021. According to MarketandMarkets, the sector will see significant growth due to the increasing use of smart grids and mobile devices, modification in billing practices, and more stringent emission rules for electric power utilities.
Large-scale uptake of variable renewable energy (VRE), forecast to remain the fasted-growing power source over the next five years, is challenging traditional policy, market and regulatory frameworks. “Without taking appropriate action, this complexity can act as a brake as countries seek to add ever larger shares of VRE to their power systems,” analysts at the International Energy Administration (IEA) warn.
May 12 –Global turbocompressor market is seen expand at a rate of 6.5% per year to reach $18,424 million by 2022, up from $11,703 million in 2015.Turbocompressors are highly used in dirty and corrosive applications such as petrochemical plants, refineries, natural gas processing, coal gasification & power stations due to their longer life, low maintenance, and continuous service. According to Allied Market Research, the oil & gas sector is currently dominating end-user demand for turbocompressors.
As Ireland moves towards an Integrated Single Electricity Market (I-SEM), the regulator has just set out a methodology for a transition to competitive power auctions in a bid to attract investment in new capacity. The first auction will be held on December 15 for the rest of the delivery year 2017/18.
LNG bunkering and use of integrated small-scale power stations spurs a rise in gas demand in Southeast Asia that could gradually shift the energy mix towards the cleaner-burning fuel. Xunpeng Shi, researcher at Singapore University addresses “the paradox of ASEAN’s green energy aspirations in the absence of a blueprint for a unified regional energy market.”
Though Asian LNG prices for November delivery rebounded slightly over the past ten days, the oversupply persists and helps open new markets: Indonesia and Jamaica have chartered floating storage units (FSUs) to underpin power plant projects. Puerto Rico, Ghana, Bahrain and Bangladesh are tipped as the ‘next round of new importers.’