Global Transmission Sales Market - 2022-2029
The global transmission sales market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).
Transmission sales are responsible for pressurizing and accumulating gas inside a pipeline by providing efficient gas processing for control & safety systems, maintaining correct pressure levels, recovering & recompressing the processed gas, processing biogas derived from water and residential waste, avoiding contamination of the processed gas. Pressurizing and accumulating gas inside pipelines is accomplished by processing the gas efficiently for control and safety systems, maintaining proper pressure levels and recovering and recompressing the processed gas.
Transmission sales equipment is also used to prevent contamination of processed gas processing biogas obtained from water and household garbage. A transmission machine is a component of a power transmission system. It's a mechanical engineering gadget that allows you to tailor a power supply to a specific application. A transmission gearbox uses gear and trains to produce speed and convert rotating power to specified applications. Transmissions are widely utilized in automobiles. It's also used pedal bicycles, fixed machines and other applications that demand variable rotating speeds and forces.
Growing shale gas production operations, more automation and a shift to energy efficiency in the oil & gas sector contribute to the market's expansion. High maintenance expenses and technical concerns such as production defects and incorrect installation hamper the market's growth.
The rise in shale gas activities
Growth in shale gas development is a key driver for the global transmission sales market. Shale gas production has resulted in a new abundance of natural gas due to ongoing technical improvement. The market for transmission sales has benefited from an expansion in the oil and gas industry, production activities, vehicle manufacturing and industrial facilities.
As energy is the foundation for driving any machinery, industrial facilities such as belt technology, chain technology and gear technology are extensively used in power transmission. The demand for transmission has also been influenced by wastewater control.
Growing demand from the power sector
The demand for transmission sales in the power industry is expanding as the market for wastewater treatment grows, which is a vital topic of research for the national government. The government is pushing for more wastewater treatment to be implemented. As a result, the need for transmission sales in the electricity sector is increasing.
Transmission sales equipment is vital for the oilfield's control and safety system. As a result of the growing frequency of oil spills worldwide, the need for the transmission industry has expanded. The transmission sales industry is fueled by oil and gas inverters. Compressors are used in the oil & gas sector for wellhead gas reinjection, hydrocarbon vapor recovery and onshore & offshore platforms.
High maintenance costs
With so many advantages, automated transmissions are more expensive than manual transmissions. Inside automatic transmission automobiles, various machinery systems work to provide a comfortable and smooth driving experience. Automatic transmissions require higher torque than manual gearboxes due to the increased mechanical complexity. This, in turn, impacts the vehicle's overall fuel usage.
Automobile manufacturers are working to improve the efficiency of automatic transmission engines. A major factor limiting the market's growth is the high investment in transmission machines and the transmission's limited capacity and faulty installation.
COVID-19 Impact Analysis
Oil prices fell in 2020 as a result of the COVID-19 pandemic. During the COVID-19 epidemic, the oil and gas sectors were shut down, reducing demand for offshore drilling rigs, which impacted the transmission sales market. The global supply chain was disrupted in several nations and demand for transmission sales fell. The onset of the COVID-19 pandemic impacted the transmission sales market and reduced transmission and distribution.
By end-user, the transmission sales market is segmented into oil & gas, power generation, water & wastewater management and others.
Rising demand for compressors in power generation
Compressors are required in power production plants for gas turbine power plants, ash conveying and fly ash management to provide maximum efficiency and operating reliability. The need for electricity is increasing, necessitating more power generation. This, combined with the necessity to replace and update existing power facilities, has led to the widespread use of gas turbines.
In the power generation industry, compressors are employed to maintain pipeline pressure. Furthermore, retrofit and modernization projects in Europe and North America are expected to enhance the transmission sales market's power generation segment.
Expansion of oil & gas sector in Europe
Europe is estimated to lead the transmission sales market during the forecast period. The expansion of the oil & gas sector and rising investment in power generation are driving the market forward. Increased oil & gas exploration & production operations and industrial & competitive expansion in Eastern and Central Europe drive the region's growth.
The transmission sales market in Europe is characterized by rising privatization and a low-cost foundation. Power generation, oil & gas and water & wastewater management are the primary end-user categories driving the market in the area.
To grab a significant share of the transmission sale market, the corporations employ various techniques such as contract & agreement, new product introduction, acquisition & mergers and expansion. Siemens, for example, was awarded a contract to deliver residual compression trains (compressors) for two cryogenic gas plants in the Delaware Basin, each with a capacity of 250 million standard cubic feet per day.
Major global transmission sales market companies include Cummins, Caterpillar, Siemens SE, Gazprom, Mitsubishi Heavy Industries, Hyundai Heavy Industries, Atlas Copco, Ingersoll Rand, Bauer Kompressoren and GE Company.
Overview: Cummins Engine Company, a corporation based in Columbus, Indiana, was founded in 1919 as one of the first diesel engine manufacturers. Cummins Inc. became the company's name in 2001. Filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen production and fuel cell products are among the global power leaders that design, manufacture, distribute & service diesel, natural gas, electric, hybrid powertrains and powertrain-related components. In roughly 190 countries and territories, the firm maintains a service network of approximately 500 wholly-owned, joint venture, independent distributor facilities and more than 10,000 Cummins certified dealer locations.
Product Portfolio: Aftertreatment systems, turbochargers, transmissions, filtration goods, electronics and fuel systems for commercial diesel and natural gas applications are among the products supplied by the Components segment, which complements the Engine and Power Systems segments. It develops after-treatment systems, turbochargers, fuel systems, transmissions and electronics to meet increasingly strict emission & fuel economy rules. Filtration systems for on- and off-highway heavy-duty and medium-duty equipment are also manufactured as filtration devices for industrial vehicle applications.
Key Development: Cummins Inc. announced in 2020 the Cummins X15 Performance Series and the Endurant XD 18-speed transmission, the next generation of integrated power that will benefit high-horsepower applications. The Cummins X15 Performance Series and Endurant XD powertrain builds on the proven powertrain integration of the Cummins X15 Efficiency Series and Endurant powertrain. It is optimized for high gross combined weight and severe on and off-highway applications, with full coverage.
Visualize the composition of the transmission sales market segmentation by compression media, type, application, end-user and region, highlighting the critical power generation assets and players.
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Excel data sheet with thousands of transmission sales market-level 4/5 segmentation points.
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The global transmission sales market report would provide access to an approx. 69 market data table, 62 figures and 213 pages.
Target Audience 2022
Transmission Sales Centrifugal Compressor Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Transmission Sales Manufacturers
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