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.
Expanding its product offering, Nymex-listed Ingersoll-Rand has recently added 50 percent more compressed air rental equipment to its fleet in the U.S., Europe, Middle East, India and Africa. The US company rents out compressed air solutions that keep critical manufacturing processes up and running during emergencies or planned projects.
Argentinian rental power supplier Secco has contracted Wärtsilä to deliver three power plants to Santa Fe province. Additionally, the Finnish OEM will carry out two further projects for Argentinian independent power producers (IPPs) – combined output of all five plants will be 382 MW.
May 26 – Global power rental markets are projected to grow from an estimated $11.6 billion in 2015 to $21.3 billion by 2020, at a cumulative annual growth rate of 12.9%, according to MarketsandMarkets. Major users include utility companies, manufacturers, oil & gas companies as well as construction and mining firms.
March 3 – Power rental markets in Southeast Asia are forecast to post a CAGR of close to 11% by 2020. Indonesia, the largest country in the region, had an 80% electrification rate at the end of 2013, according to Technavio figures. Lead analyst Vishu Rai commented “this, along with poor grid connectivity in remote areas, has also increased the need for temporary power supply in the region.”