Tuesday, 01 August 2017

Sport events drive growth in power rental market

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Aggreko powers America's 51st National Football Championship Aggreko powers America's 51st National Football Championship

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.

Expenditure in the sports market reached $145 billion in 2015 and is expected to a CAGR of 4% over the next five years. In terms of regional growth potential, the events power rental markets in Europe and North America are expected to have larger market shares compared to other regions.

Europe has the highest growth rates for rental power solutions – not only in the events segment, but also as a source of balancing energy to compensate for intermittent electricity supply for wind and solar power installations.

Deployment of flexible, decentralized gas generators also help ensure security of electricity supply during maintenance times and in the event of early retirement of Europe’s aging fleet of industrial-scale power plants.

As the risks of power outages grows in some European countries, the region’s key electricity producers and some grid operators have started to invest into the deployment of flexible power rental solutions. A majority of the nuclear power plants in Europe are over 40 years old, thus increasing the risk of unexpected downtimes and the need for backup power solutions.

By power rating, the 1,501 kW–2,000 kW segment has the largest power rental market. Meanwhile, smaller-scale generators in the 501 kW–2,500 kW power rating category are predominately used in the mining, oil & gas, manufacturing, shipping, and utility sectors. These generators can be used to provide standby power as well as power during peak shaving.

To provide an in-depth understanding of the competitive landscape, RnRMarketResearch as split its analysis into power rental market by fuel type (diesel, gas, dual Fuel & HFO),power rating, end users (utilities, oil & gas, events, construction, mining, manufacturing, shipping), application (peak shaving, base load, stand by), by region – global forecasts to 2022.

The report includes profiles of some of the leading players in the power rental market, such as Caterpillar, Aggreko, Cummins, United Rentals, and APR Energy.

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