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The transmission sales market size is forecast to increase by USD 7.50 billion at a CAGR of 7.68% between 2023 and 2028. The market is experiencing significant growth, driven by key trends and developments. One major factor fueling market expansion is the advancement of cross-border and cross-country pipeline infrastructure, enabling the transportation of resources over long distances. Technological innovations, such as pipeline inspection tools, are enhancing the efficiency and safety of transmission systems, particularly in harsh environmental conditions. These advancements are crucial in addressing the increasing demand for reliable and sustainable energy solutions. Additionally, the growing application of transmission systems in various industries, including oil and gas, renewable energy, and chemicals, is further boosting market growth. Overall, the market is poised for continued expansion, driven by these trends and the ongoing need for efficient and reliable energy transportation solutions.
The market is witnessing significant growth due to the increasing demand for power transmission systems in various industries and manufacturing sectors. The use of mechanical engineering devices, such as gearboxes and gears, is essential in power transmission systems, particularly in shale gas activity. Shale gas is a key contributor to the market's growth, as it fuels industrial usage in areas like drilling, cementing, and fracturing in oil fields. Mechanical devices like gear trains and gearboxes are integral components of power transmission systems, used in automobiles, pedal bicycles, stationary machines, and manufacturing sectors. In the power sector, transmission lines and substations are crucial for the efficient transfer of electricity from power plants to end-users.
The Reciprocating type segment, which includes piston compressors, is a significant contributor to the gas transmission pipelines market, particularly in petrochemical plants and refineries. Overall, the market is expected to continue its growth trajectory, driven by the expanding industrial and energy sectors.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The reciprocating segment is estimated to witness significant growth during the forecast period.The market encompasses various mechanical engineering devices, including gearboxes and gears, used in diverse industries such as Shale gas, automobiles, pedal bicycles, and stationary machines. In oil fields, mechanical devices are employed extensively for drilling, cementing, fracturing, hoisting, and pumping activities. Technological advances have led to the integration of gear technology in industrial facilities and equipment, such as belts, chains, and gear trains, enhancing their efficiency and productivity. Gear technology is also crucial in power transmission systems, enabling the transfer of power from one place to another. Industrial usage of this technology is prevalent in power generation, including reciprocating, rotatory, centrifugal, axial flow, and artificial lift systems.
Furthermore, gas processing stations, LNG and FPS, storage and facilities, and oil and gas industries rely on gear technology for gas processing and power generation. In the automobile manufacturing sector, gearboxes are essential components in transmitting power from the engine to the wheels. Similarly, pedal bicycles use gears to optimize the transmission of pedaling power to the wheels. Overall, the market plays a pivotal role in various manufacturing areas, including wastewater management, oil fields, automobile manufacturing, and industrial facilities, by providing efficient and reliable mechanical devices for power transmission.
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The Reciprocating segment accounted for USD 6.38 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is witnessing significant growth in various manufacturing sectors due to increased shale gas activity and the expansion of industrial plants. Transmission lines, substations, transformers, and network management systems are essential components of the power grid infrastructure, which is experiencing a growth in demand. Energy storage systems, electric vehicles, and renewable energy projects are driving the market, with regulatory developments and political initiatives playing a crucial role in shaping the industry. Digital technology, data analytics, and smart grid technology are transforming the power sector, enabling efficient energy management and integration of distributed energy resources such as renewable energy projects, reciprocating engines, hydrocarbons, and petrochemical plants.
Further, regulations and environmental issues continue to be key considerations, with a focus on reducing carbon emissions and improving energy efficiency. The reciprocating type segment, including piston compressors, is a significant contributor to the market, with gas transmission pipelines and refineries being major consumers. Privatization of the power sector is also contributing to the market growth.
Our transmission sales market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The developments in cross-border and cross-country pipeline infrastructure is the key driver of the market. The oil and gas industry relies heavily on reliable transmission systems to transport resources from exploration sites to manufacturing areas and end-users. Mechanical engineering devices, such as gearboxes and gear trains, play a crucial role in power transmission systems, enabling the efficient operation of various industrial processes. In the context of the oil and gas sector, these mechanical devices are utilized in drilling operations, including shale gas extraction, as well as in cementing, fracturing, hoisting, and pumping activities. Technological advances have led to the development of various types of gear technology, including those used in automobiles, pedal bicycles, and stationary machines.
Additionally, gear technology is employed in wastewater management systems, as well as in power generation through reciprocating, rotatory, centrifugal, axial flow, and other types of engines. In the oil and gas industry, gear technology is also used in artificial lift systems, gas processing stations, LNG and FPS facilities, and storage and transportation infrastructure. Pipeline infrastructure is essential for transporting oil and gas over long distances, particularly when rail and road transportation are not feasible. The expansion of the oil and gas pipeline network is ongoing, driven by increasing demand and the need to connect new exploration sites to refineries and demand centers.
Cross-country and cross-border pipelines are currently under construction in various parts of the world, contributing to the growth of the market.
The technological advances in pipeline inspection is the upcoming trend in the market. In the oil and gas industry, ensuring safety is of paramount importance. Advanced technologies have been developed to remotely monitor pipelines, allowing operators to identify potential issues in their entire pipeline network. One such practice is pigging, where devices such as scrapers or pigs are utilized for maintenance and inspection. However, not all pipelines can be pigged due to their smaller diameters or intricate designs. Consequently, inspections may overlook minor metal loss, corrosion, or cracks, which could subsequently lead to oil or gas leakage or spillage. The power transmission system is a crucial mechanical engineering device in various industries, including automobiles, pedal bicycles, and stationary machines.
In the oil and gas sector, it is employed in manufacturing areas such as drilling, cementing, fracturing, hoisting, pumping, and gas processing stations. Technological advances have led to the integration of gear technology in various applications, including reciprocating, rotatory, centrifugal, axial flow, artificial lift, and gas processing stations. Gearboxes and gears are essential components of the power transmission system. They are used in various industrial facilities and equipment, including LNG and FPS storage and facilities, oil and gas power generation, and transmission sales. In the automobile manufacturing sector, they are used in automobiles' drivetrain systems. Gear trains and gearing systems are also used in wastewater management systems.
The oil and gas industry's technological advancements have led to the development of sophisticated mechanical devices, including belts, chains, and gear technology. These innovations have significantly impacted manufacturing activities in oil fields, enabling efficient drilling, cementing, fracturing, hoisting, pumping, and gas processing. The integration of gear technology in these processes has resulted in improved efficiency, reliability, and productivity.
The increased application in harsh environmental conditions is a key challenge affecting the market growth. In the oil and gas industry, the market encompasses various mechanical devices, including gearboxes and gears, used in power transmission systems. These components are integral to industrial usage in sectors such as shale gas production, automobile manufacturing, and cementing, drilling, fracturing, hoisting, pumping, and wastewater management. Mechanical engineering devices like gear trains, belts, and chains are employed in stationary machines and automobiles to transmit power. Technological advances have led to the development of advanced gear technology, such as reciprocating, rotatory, centrifugal, axial flow, and artificial lift systems, used in gas processing stations, LNG and FPS, storage and facilities, and power generation.
Moreover, the oil and gas sector's manufacturing activities require strong and reliable transmission systems to ensure efficient operations. In oil fields, these systems are essential for oil and gas production, including drilling, production, and processing. The challenges of installing and maintaining instruments on pipelines, particularly in extreme environments like the Arctic offshore, necessitate the use of advanced transmission systems to ensure longevity and reliability.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AAMCO Transmissions Inc. - The company focuses on transmission repair and brakes and auto repair services. The key offerings of the company include transmission sales and related solutions.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market in the Oil and Gas industry is witnessing significant growth due to the increasing demand for power transmission systems in various applications. Shale gas production has been a major driver for this market, as industrial usage of shale gas requires advanced power transmission systems for drilling, cementing, fracturing, hoisting, and pumping activities. Mechanical engineering devices such as gear trains and gearboxes are essential components of power transmission systems. These devices are used in various manufacturing areas, including automobile manufacturing and industrial facilities, to transmit power efficiently. Technological advances in gear technology have led to the development of high-performance gearboxes, which are used in reciprocating, rotatory, centrifugal, axial flow, and other types of pumps and compressors.
Further, transmission sales are also crucial in the LNG and FPS sector, where gas processing stations require large gearboxes for compressing and processing natural gas. In addition, transmission sales are essential for power generation, as power plants require gearboxes to transmit power from the turbines to the electrical grid. The market for transmission sales is diverse, with applications ranging from automobiles and pedal bicycles to stationary machines and oil fields. The use of belts and chains for power transmission in various industrial equipment is also a significant market opportunity. Wastewater management facilities also require transmission systems for pumping and treating wastewater, providing another potential market for gear technology.
In conclusion, the market is a vital component of the Oil and Gas industry, with applications ranging from drilling and production to power generation and industrial equipment manufacturing. The market is driven by the increasing demand for power transmission systems in various applications, and technological advances in gear technology are providing new opportunities for growth.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.68% |
Market growth 2024-2028 |
USD 7.50 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.8 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 30% |
Key countries |
US, China, Germany, France, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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