According to the Future Market Insights (FMI) analysis, transmission sales market grew at a CAGR of 8.0% from 2018 to 2022. For the forecast period, the worldwide market for transmission sales is forecast to progress at 6.9% CAGR.
The global transmission sales industry is expected to expand from US$ 16.2 billion in 2023 to US$ 31.5 billion by 2033. Over the forecast period 2023 to 2033, global transmission sales are likely to soar at 6.9% CAGR.
Efficient treatment of gas for control and safety systems, maintenance of correct pressure levels, recovery and recompression of treated gas, and pressurization and accumulation of gas in pipelines by avoiding contamination of treated gas are achieved through transfer sales.
Gas pressurization and storage in pipelines are achieved by efficiently processing gas, maintaining correct pressure levels, and recovering and recompressing processed gas for control and safety systems.
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Transmission sales equipment is also used to avoid process gas contamination when processing biogas derived from water or municipal waste.
There are two types of compressors on the transmission sales market: dynamic and positive displacement. These compressors are mainly used to meet compressed air requirements.
They are used in several end-use industries such as power generation, oil and gas, wastewater and water management. Chemical and petrochemical, automotive, food and beverage, mining, metals, and construction sectors also extensively use transmissions.
Transmission markets are an important part of the power supply chain and play a key role in ensuring efficient and reliable power supply over long distances.
The key aspects and components of the transmission sales industry are:
- Technology and Innovation: Technological advances are having a key impact on the transmission sales market. Smart grid technology, data analytics, and monitoring systems are increasingly being integrated into the power grid to optimize performance and improve grid efficiency.
- Energy policy and regulation: Government policies and regulations play an important role in shaping the market. Energy policies often set guidelines for grid expansion, renewable energy integration, and cross-border energy exchanges.
- Renewable Energy Grid Integration: As the use of renewable energy sources such as wind and solar increases, the power transmission market faces the challenge of effectively integrating intermittent power generation into the
- Connectivity across borders: Cross-border transmission projects enable power exchange between neighboring countries, promote energy security, and facilitate the integration of various energy resources.
- Network stability and security: As the grid becomes more connected and digitized, ensuring grid stability and cybersecurity to protect against potential threats and disruptions becomes
Key Takeaways from the Transmission Sales Industry Report:
- Japan’s transmission sales market is projected to reach a valuation of around US$ 6.1 billion by 2033.
- The United States transmission sales industry is poised to exhibit a CAGR of 8% during the assessment period.
- Transmission sales demand in China is anticipated to rise at a steady CAGR of 8% during the forecast period from 2023 to 2033.
- Based on type, reciprocating segment is projected to surge with a CAGR of 5% in 2033.
- The oil and gas segment is expected to register a CAGR of 4% from 2023 to 2033.
Competitive Landscape:
Leading manufacturers in the transmission sales industry are constantly launching a new range of products to meet rising consumer demand. They are likewise using approaches such as mergers & acquisitions, collaborations, distribution agreements, partnerships, and advertisements to expand their reach and gain a competitive edge in the market.
For instance,
- In January 2020, Siemens acquired around 99% equity share of C&S Electric at a whopping € 267 million.
- In June 2020, Caterpillar Inc. declared the acquisition of Marble Robot, Inc., a robotics expert.
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