NEW YORK, July 23, 2024 /PRNewswire/ -- The global
transmission sales market size is estimated to grow by
USD 7.50 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 7.68% during the forecast period. Developments in cross-border
and cross-country pipeline infrastructure is driving market growth,
with a trend towards technological advances in pipeline inspection.
However, increased application in harsh environmental conditions
poses a challenge. Key market players include AAMCO
Transmissions Inc., Allison Transmission Holdings Inc., Bauer Comp
Holding GmbH, Bayerische Motoren Werke AG, BorgWarner Inc.,
Bridgestone Corp., Caterpillar Inc., Continental AG, Cottman
Transmission and Total Auto Care, Cummins Inc., General Electric
Co., Ingersoll Rand Inc., Lee Myles Autocare and Transmission,
Mister Transmission International, Mitsubishi Heavy Industries
Ltd., NV Bekaert SA, Prysmian Spa, RPG Enterprises, Schaeffler AG,
and Siemens AG.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Type (Reciprocating,
Rotatory, Centrifugal, and Axial Flow), End-user (Oil and Gas,
Power generation, Water and wastewater management, and Other), and
Geography (Europe, North America, APAC, South America, and Middle
East and Africa)
|
Region
Covered
|
Europe, North America,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
AAMCO Transmissions
Inc., Allison Transmission Holdings Inc., Bauer Comp Holding GmbH,
Bayerische Motoren Werke AG, BorgWarner Inc., Bridgestone Corp.,
Caterpillar Inc., Continental AG, Cottman Transmission and Total
Auto Care, Cummins Inc., General Electric Co., Ingersoll Rand Inc.,
Lee Myles Autocare and Transmission, Mister Transmission
International, Mitsubishi Heavy Industries Ltd., NV Bekaert SA,
Prysmian Spa, RPG Enterprises, Schaeffler AG, and Siemens
AG
|
Key Market Trends Fueling Growth
In the oil and gas industry, pipeline safety is of utmost
importance. Advanced technologies have enabled remote monitoring of
pipelines, allowing operators to detect potential issues. Devices
like scrapers or pigs are used for maintenance and inspection, a
practice known as pigging. However, smaller diameter or bent
pipelines can't be pigged, leading to undetected metal loss,
corrosion, or cracks. SCADA systems are a significant innovation,
enabling real-time data control, monitoring, and processing for
effective pipeline management. Satellite-based SCADA systems ensure
rapid and cost-effective deployment in remote locations. Drones are
another game-changer, used for pipeline examinations, offshore
drilling platforms, and refinery inspections. They are anticipated
to play a crucial role in leak identification. LUMEN, a methane
detection system, consists of a ground wireless sensor network and
a drone-based system for air monitoring. These technological
advances enhance pipeline inspection efficiency and safety,
increasing adoption over other oil and gas transport methods.
Therefore, advancements in pipeline inspection technologies will
fuel the growth of the global transmission sales market.
The Transmission Sales Market is experiencing significant trends
in various sectors. In the energy industry, there's growing demand
for Transformers due to network management needs and integration of
renewable energy sources like wind and solar. Energy storage
systems and electric vehicles are also driving the market, as
regulatory developments and political initiatives push for cleaner
energy solutions. Digital technology, data analytics, and smart
grid technology are transforming the power transmission system,
enabling better efficiency and reliability. Renewable energy
projects, including hydrocarbon-based sources like shale gas, are
expanding, leading to increased demand for gas transmission
pipelines and reciprocating engines in power generation. Industrial
usage, including petrochemical plants, refineries, and
manufacturing areas, continues to be a significant market for
transmission sales. Mechanical engineering devices like gearing and
gear trains are essential components in these applications.
Privatization of power sectors in some regions is also contributing
to market growth. Environmental issues are driving the adoption of
cleaner technologies, with a focus on distributed energy resources
and renewable energy projects. Additionally, reciprocating type
segments, such as piston compressors, find applications in oil
fields, drilling, cementing, and fracturing processes. The
automobile industry, including pedal bicycles and stationary
machines, also utilizes transmission sales for various
applications.
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Market Challenges
- The oil and gas industry faces significant challenges with the
installation and maintenance of instruments on pipelines,
particularly those in harsh environments like the Arctic offshore.
These pipelines are subjected to extreme conditions and are
continuously exposed to potentially corrosive process streams. The
harsh conditions can lead to failure mechanisms such as fracture,
buckling, fatigue, and bursts. The remote location and thick ice
covers pose challenges for leak detection and repair, leading to
high repair costs and potential hazards. Computational pipeline
monitoring systems help detect large leaks, driving the growth of
the global transmission sales market. However, minor leaks can go
undetected, especially when under constant seasonal ice cover. The
process stream may contain corrosive materials, primarily due to
the presence of sulfur in crude oil and natural gas. Thermocouples
installed inside thermowells, which are in direct contact with the
pressurized process stream, create potential points for corrosion
and failure. These weak points can lead to dangerous leaks,
creating hazards such as fires in the plant. The oil and gas
industry must address these challenges to minimize pipeline leaks
and ensure the safety and reliability of their operations. The
global transmission sales market is expected to grow as companies
invest in advanced technologies to mitigate these risks and improve
pipeline monitoring and maintenance.
- The Transmission Sales Market faces several challenges in
various industries. In the Oil and Gas sector, shale gas production
poses unique demands on power transmission systems. Mechanical
engineering devices like gearboxes and gear trains are essential
for drilling, cementing, fracturing, hoisting, pumping, and other
shale gas activities. However, the industrial usage of these
devices in manufacturing areas, oil fields, and power generation
can put significant strain on the transmission system. Automobile
manufacturing and pedal bicycle production also rely on gear
technology for their mechanical components. Technological advances
in reciprocating, rotatory, centrifugal, axial flow, and artificial
lift systems require robust transmission solutions. Wastewater
management facilities also utilize transmission systems, adding to
the market's complexity. Transmission sales must cater to the
diverse needs of industries, including LNG and FPS, gas processing
stations, and power transmission lines and substations. Meeting the
demands of these sectors requires a deep understanding of the
specific challenges in each area, from manufacturing activities to
power generation and transmission.
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challenges - Download a Sample Report
Segment Overview
This transmission sales market report extensively covers market
segmentation by
- Type
- 1.1 Reciprocating
- 1.2 Rotatory
- 1.3 Centrifugal
- 1.4 Axial Flow
- End-user
- 2.1 Oil and Gas
- 2.2 Power generation
- 2.3 Water and wastewater management
- 2.4 Other
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Reciprocating- The Transmission Sales Market
has experienced steady growth due to increasing demand for reliable
power transmission systems. Key players in this market include
Siemens, ABB, and General Electric. These companies offer a range
of products, including power transformers, circuit breakers, and
switchgears. The market is driven by factors such as infrastructure
development and the need for efficient energy transmission.
Collaborations and partnerships are common strategies used by
companies to expand their product offerings and reach new
customers.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2017 -
2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Automotive Control Cables Market is witnessing
significant growth due to the increasing demand for advanced
vehicular control systems. Meanwhile, the global Electric Vehicle
(EV) Transmission System Market is booming, driven by the rapid
adoption of electric vehicles and advancements in transmission
technology. Additionally, the global Semiconductor Assembly and
Testing Services (SATS) Market is expanding, fueled by the rising
need for efficient semiconductor testing and assembly solutions in
various electronic applications. These markets are poised for
substantial growth, offering lucrative opportunities for industry
players and investors.
Research Analysis
The Transmission Sales Market encompasses the trade of various
mechanical engineering devices used in diverse sectors. One
significant application is in the Shale Gas industry, where
transmission systems play a crucial role in transporting natural
gas from oil fields to industrial plants and power transmission
systems. These systems include gearboxes and gears, used in
compressors for shale gas production, such as piston compressors in
the reciprocating type segment. Transmission lines and substations
are essential components of power transmission systems, which
transfer electricity from generating sources to end-users.
Additionally, mechanical devices like gear trains and gearboxes are
employed in automobiles, pedal bicycles, stationary machines, and
manufacturing areas. The manufacturing sectors, including
petrochemical plants and refineries, also utilize transmission
devices in gas transmission pipelines and oil field operations,
such as drilling, cementing, and fracturing processes.
Market Research Overview
The Transmission Sales Market is experiencing significant growth
due to the increasing demand for power transmission systems in
various sectors. Shale gas extraction is a major driver, with
industrial usage requiring advanced mechanical engineering devices
such as gearing and gear trains for drilling, cementing,
fracturing, hoisting, and pumping activities. Automobiles and pedal
bicycles also utilize gear technology, while stationary machines in
manufacturing areas and oil fields require robust gearboxes for
their operations. Technological advances in gear technology,
wastewater management, and energy storage systems are also fueling
market growth. The market includes various types of pumps and
engines like reciprocating, rotatory, centrifugal, axial flow, and
artificial lift, used in oil and gas production, power generation,
and LNG and FPS. Regulatory developments, political initiatives,
digital technology, data analytics, smart grid technology,
renewable energy sources, and distributed energy resources are also
influencing market trends. The market caters to various industries
like automobile manufacturing, industrial facilities, and
manufacturing sectors, with a focus on network management, energy
storage systems, and environmental issues. The reciprocating type
segment includes piston compressors and gas transmission pipelines,
while petrochemical plants, refineries, and privatization are also
key areas of growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Reciprocating
- Rotatory
- Centrifugal
- Axial Flow
- End-user
-
- Oil And Gas
- Power Generation
- Water And Wastewater Management
- Other
- Geography
-
- Europe
- North America
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
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Jesse Maida
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US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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