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The Transmission Sales Market size is poised to grow by USD 7.50 billion at a CAGR of 7.68% from 2023 to 2028. The market in the oil and gas sector is experiencing robust growth, driven primarily by advancements in cross-border and cross-country pipeline infrastructure. These pipelines represent an efficient and cost-effective mode of transportation for the industry, facilitating the movement of oil and gas from exploration sites to refineries and demand hubs. The increasing global demand for oil and gas necessitates the expansion of pipeline networks to accommodate new exploration sites and meet growing consumer needs. Notably, numerous pipeline projects worldwide are enhancing trade activities within the industry, contributing significantly to its growth.
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The report offers extensive research analysis on the market, with a categorization based on Type, including Reciprocating, Rotatory, Centrifugal, and Axial Flow. It further segments the market by End-user, encompassing Oil and Gas, Power generation, Water and Wastewater Treatment Chemicals, and Others. Additionally, the report provides geographical segmentation, covering Europe, North America, APAC, South America, and Middle East and Africa. Market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments. The market is undergoing significant transformation with the integration of oil and gas inverters on onshore and offshore platform, strengthened by opportunities assessment and strategic market growth analysis in business endeavours, driven by the dynamics of the market and advancements in artificial intelligence (AI).
The reciprocating segment was valued at USD 6.38 billion in 2018 and continued to grow by 2022. Reciprocating engines are also called piston engines and work on the to-and-fro motion. The piston starts its reciprocating motion by pressure generated from the combustion of the fuel-air mixture. This reciprocating motion is converted into a rotary motion by the crankshaft. Reciprocating engines currently hold a 100% share of the automotive engine. Rising safety awareness among customers has led to an increase in demand for fuel-efficient cars, which has increased the demand for reciprocating engines. In addition, the development and integration of performance-enhancing systems are on the rise. Therefore, the benefits and advantages associated with improved reciprocating engines are expected to fuel the growth of the reciprocating segment of the global market during the forecast period.
North America is estimated to contribute 30% to the growth of the global market during the forecast period. Another region significantly contributing to the market growth is Europe. The market in Europe is expected to witness moderate growth during the forecast period. There are several pipeline projects that are scheduled to become operational in the region. For instance, there are plans to supply natural gas from Turkey to the European countries of Greece and Bulgaria via existing pipelines. Similarly, the Trans-Anatolian Natural Gas Pipeline (TANAP) will supply natural gas from Azerbaijan to Europe via Turkey. These pipelines, once operational, will greatly boost the consumption of natural gas in Europe, which is rapidly moving from coal-based power plants to natural gas-based power plants for electricity generation. Such factors are expected to fuel the demand, which in turn will drive the growth of the regional market during the forecast period.
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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 is experiencing notable growth, driven by advancements in cross-border and cross-country pipeline infrastructure. Pipelines remain one of the most efficient forms of transportation in the oil and gas sector, particularly when rail and road options are impractical. As the demand for oil and gas continues to rise, the expansion of the pipeline network becomes imperative to connect new exploration sites to refineries and demand centers.
Moreover, numerous pipeline projects are underway globally, including cross-country and cross-border pipelines, facilitating increased trade activities in the oil and gas segment. This surge in pipeline construction drives the demand for sales, including compressors and dynamic mechanisms, to support oil and gas production and wastewater treatment processes. Additionally, the adoption of AI in pipeline monitoring further enhances the market's growth prospects in the forecast period.
Technological advances in pipeline inspection are a major trend in the market. Oil and gas companies prioritize safety. Advanced technologies like SCADA systems and drones are now used to monitor and inspect pipelines for potential issues, preventing spillage or leakage. SCADA systems are flexible and allow remote monitoring and control of pipeline valves.
Moreover, drones are crucial in identifying leaks and providing monitoring and inspection solutions for methane detection. These technologies ensure pipeline safety and increase adoption over other forms of transportation, driving growth in the market. Hence, such factors are hindering the market during the forecast period.
Increased application in harsh environmental conditions is the major challenge that affects the growth of the market. In the oil and gas industry, the transmission sales 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. The oil and gas sector's manufacturing activities require robust 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 Arctic offshore, necessitate the use of advanced transmission systems to ensure longevity and reliability. Hence, the above factors will impede the growth of the market during the forecast period
The market is fragmented in nature. Some significant players include AAMCO Transmissions Inc., Allison Transmission Holdings Inc., Bauer Comp Holding GmbH, Bayerische Motoren Werke AG, BorgWarner Inc.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Caterpillar Inc., Cottman Transmission and Total Auto Care, Cummins Inc., Lee Myles Autocare and Transmission, Mister Transmission International, Prysmian Spa, RPG Enterprises, Schaeffler AG, Bridgestone Corp., Continental AG, General Electric Co., Ingersoll Rand Inc., Mitsubishi Heavy Industries Ltd., NV Bekaert SA, and Siemens AG
The market companies research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Billion for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market 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.
Moreover, 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. 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 robust gearboxes to transmit power from the turbines to the electrical grid. The market landscape depends on the Pedal bikes, Industrial plants, Transformers, Network management, Energy storage systems, Cross border transmission projects, Electric vehicles, Regulatory developments, Political initiatives, Digital technology, Data analytics, High voltage power lines, Smart grid technology, Renewable energy. 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 |
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 forecasting, market growth and trends, market report, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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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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