In its latest five-year forecast, the American Rental Association (ARA) expects equipment rental industry revenue to continue to grow consistently in the United States over the next five years, resulting in total revenue of $59.6 billion in 2021. According to the ARA Rental Market Monitor™ five-year forecast updated in February, total rental revenue in the U.S. is expected to grow by 4.5 percent in 2018 to reach $51.5 billion, 5.6 percent in 2019, 5 percent in 2020 and 4.4 percent in 2021. The February forecast is identical to the previous forecast released in November 2017 for 2018, with slight upticks in the expected revenue growth rates for 2019 through 2021.
Three high-flow pumps from Atlas Copco Power Technique North America are on display at The Rental Show for the first time. The PAS open frame pump systems consist of a highly efficient diaphragm pump with a semi-open impeller and a large separator, allowing the pumps to pass true 3-inch spherical solids. Air is separated from the liquid and sucked by the vacuum pump, making automatic and efficient priming possible. Both wet prime and dry prime options are offered.
Two of the horizontal directional drilling (HDD) industry's leading equipment and tooling manufacturers, Vermeer Corporation and Mincon Group PLC, have formed a distribution alliance to expand contractors' access to quality rock tooling worldwide. As part of the agreement, Vermeer dealers are now the exclusive channel for Mincon HDD air hammer systems, HDD pull reaming hammers and HDD support equipment, including HDD support stations and oilers.
Debuting during media day of the Canadian International Autoshow, the all-new and exclusive-to-Canada 2019 Ram 1500 Sport is designed specifically for Canadian truck buyers, who have made the ‘Sport' trim the country's most popular Ram light-duty model. The all-new Ram Sport features unique exterior design cues, interior treatments and custom options.
NETZSCH has added to its line of FSIP (full service-in-place) NEMO progressive cavity pumps. Ideal for wear-intensive applications, the maintenance-friendly FSIP design has been re-engineered to provide full access to all the pumps' rotating parts. NEMO FSIP is now available in six sizes (NM045 to NM105) for flow rates up to 180 m3 per hour. NEMO FSIP models are now offered with differential pressures up to 6 bar (1-stage) up to 12 bar (2-stage), identical to the performance parameters of the standard series.
Dover announced that its "Wellsite" upstream energy businesses will be named Apergy. Apergy will be a publicly traded company headquartered in The Woodlands, Texas with the tagline: "Unlocking Energy." The spin-off transaction is on track for completion in May of 2018, subject to the satisfaction or waiver of certain customary conditions.
Cenovus Energy Inc. delivered strong cash from operating activities and adjusted funds flow in 2017. Through its continued focus on capital discipline and reliable operational performance, the company generated almost $1.3 billion in free funds flow last year. Cenovus also completed the divestitures of its legacy conventional oil and natural gas assets within its expected timeframe.
SignalFire Wireless Telemetry introduces the TiltSCOUT, a new, patent-pending, intrinsically safe wireless inclinometer for tank hatch detection and pump jack motion monitoring. The innovative device helps mitigate environmental and safety risks associated with accidental emissions from tanks by monitoring and reporting the status (opened, partially opened, closed) of the tank's hatch. The built-in, three-axis sensor continually monitors the hatch and wirelessly transmits status if the tank hatch is moved. This feedback can help operators avoid or minimize environmental and unsafe gas emissions from a tank.
The Price College of Business Energy Institute at the University of Oklahoma will host its Sixth Annual Energy Symposium, on March 15, 2018, at the SandRidge Energy Auditorium in Oklahoma City.
Honeywell now offers a cloud-based simulation tool that uses a combination of augmented reality (AR) and virtual reality (VR) to train plant personnel on critical industrial work activities. With as much as 50 percent of industrial plant personnel due to retire within the next five years, the Honeywell Connected Plant Skills Insight Immersive Competency is designed to bring new industrial workers up to speed quickly by enhancing training and delivering it in new and contemporary ways.
Suncor has reached an agreement to acquire Mocal Energy's 5% interest in the Syncrude joint venture for US$730 million, or approximately Cdn$920 million, subject to closing adjustments. The transaction will be effective as of Jan.1, 2018 and is anticipated to close in the first quarter of 2018.
Sunbelt Rentals has launched the new SunbeltRentals.com comprised of updated features and benefits designed for an easier, faster equipment rental experience. The optimization and enhancement of the site continues the company's focus on offering digital tools, such as Command Center, for customers.