How Has the Transmission Sales Market Evolved Historically and What is its Current Size?
The transmission sales market has seen considerable growth due to a variety of factors.
• There has been a robust growth in the transmission sales market in the past few years. The market, which is predicted to escalate from $17.96 billion in 2024 to $19.14 billion the following year, is projected to have a compound annual growth rate (CAGR) of 6.6%.
Factors contributing to this remarkable growth during the historical period include rising vehicle demand, stringent fuel efficiency standards, worldwide economic patterns, and shifts in consumer tastes.
What is the Forecasted Market Size and CAGR for the Transmission SalesMarket?
The transmission sales market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for transmission sales is anticipated to experience significant expansion in the coming years, with projections suggesting that it will reach a value of $25.64 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 7.6%.
The surge in growth expected during this period is due to factors such as the adoption of electric vehicles, the advent of autonomous vehicles, government strategies, and global market progression. Key trends for this period encompass the transition towards automatic transmissions, the predominance of electrification, advanced driver assistance systems (ADAS), the use of lightweight materials, the integration of artificial intelligence and machine learning, modular and scalable designs, and market integration.
What Key Factors and Trends are Driving the Growth of the Transmission Sales Market?
The surge in activities related to shale gas production is believed to stimulate the expansion of the transmission sales market. Shale gas refers to the natural gas trapped in shale rocks, and its production aids in transmission sales and storage as this gas needs to be transported over long distances via high-pressure pipelines. The process of shale gas refinement promotes this, along with the processing of other natural gases. For example, data cited by the Center for Strategic and International Studies, a nonprofit organization based in the US, showed that during the first three quarters of 2021, 20 American shale producers generated a free cash flow of approximately $36 billion. Hence, the intensifying activities in shale gas production are fueling the growth of the transmission sales market.
What are the Market Segments in the Transmission Sales Market?
The transmission sales market covered in this report is segmented –
1) By Type: Reciprocating, Rotary, Centrifugal, Axial Flow
2) By Compression Media: Air Compressor, Gas Compressor
3) By Application: Artificial Lift, Gas Processing Station, LNG And FPS, Storage And Facilities, Other Application
4) By End-User: Oil And Gas, Power Generation, Water And Wastewater Management, Other End User
Subsegments:
1) By Reciprocating: Piston Compressors, Diaphragm Compressors
2) By Rotary: Gear Pumps, Vane Pumps, Screw Compressors
3) By Centrifugal: Single-Stage Centrifugal Pumps, Multi-Stage Centrifugal Pumps
4) By Axial Flow: Axial Flow Pumps, Mixed Flow Pumps
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What Trends are Shaping the Transmission Sales Market?
The introduction of cutting-edge technologies by leading companies is a major trend that's becoming increasingly prevalent in the transmission sales market. The goal is to stay competitive in the transmission sales market by enhancing their product lines with the latest advancements. Take for example, GE Digital, a US-based software enterprise, which announced GridOS software for grid orchestration in February 2023. GridOS is a robust suite of applications and platform developed to provide secure and dependable grid management, delivering the resilience and adaptability required by utility providers worldwide. Its objective is to revamp and transform the traditional electric grid into the clean energy grid of the future. GridOS amalgamates energy data, network modeling, and predictive analytics powered by AI/ML to drive a suite of smart applications created by GE, utilities, and GridOS associates.
Who Are the Key Players in the Transmission Sales Market?
Major companies operating in the transmission sales market include:
• Caterpillar Inc.
• Cummins Inc.
• PJSC Gazprom
• Siemens AG
• General Electric Company
• Allison Transmission Inc.
• ZF Friedrichshafen AG
• Mister Transmission Ltd.
• Lee Myles Autocare & Transmission
• ABB Ltd.
• Schaeffler Technologies AG & Co. KG
• Continental AG
• Power Sales Group Inc.
• Duke Energy Corporation
• Hyundai Heavy Industries Co. Ltd.
• Ingersoll Rand Inc.
• Schneider Electric SE
• Mitsubishi Electric Corporation
• Eaton Corporation plc
• Toshiba Corporation
• Hitachi Ltd.
• Alstom SA
• CG Power and Industrial Solutions Limited
• Bharat Heavy Electricals Limited
• Larsen & Toubro Limited
• Powell Industries Inc.
• S&C Electric Company
• Eimco Electro-Mechanicals Co. Ltd.
• Emerson Electric Co.
• Prysmian Group S. p. A.
• Nexans S. A.
• NKT A/S
• LS Cable & System Ltd.
What are the Regional Insights into the Transmission Sales Market?
Europe was the largest region in the global transmission sales market in 2024.The regions covered in the transmission sales market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
