Press release
Transmission Sales Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Transmission Sales
How Large Will the Transmission Sales Market Size By 2025?
In recent times, the transmission sales market has experienced significant expansion. The market, which is expected to surge from $17.96 billion in 2024 to an estimated $18.98 billion in 2025, projects a compound annual growth rate (CAGR) of 5.7%. Factors such as vehicle demand, fuel efficiency policies, worldwide economic patterns, and consumer preferences have contributed to this growth during the historical period.
How Big Is the Transmission Sales Market Size Expected to Grow by 2029?
The market size of transmission sales is projected to witness significant growth in the upcoming years, expanding to $25.15 billion in 2029 at a compound annual growth rate (CAGR) of 7.3%. This growth during the forecast period is linked to several factors including the adoption of electric vehicles, the advent of autonomous vehicles, government regulations, and expansion of the global market in general. Key market trends expected during this period encompass the shift towards automatic transmissions, the prevalence of electrification, the implementation of advanced driver assistance systems (ADAS), usage of lightweight materials, integration of AI and machine learning, development of modular and scalable designs, as well as market consolidation.
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Which Key Market Drivers Powering Transmission Sales Market Expansion and Growth?
The escalation in shale gas production activities is anticipated to bolster the expansion of the transmission sales market. Shale gas, a type of natural gas that is trapped in shale rocks, aids in the sales and storage of transmission since it is conveyed through high-pressure pipelines over long distances. This starts with the processing of shale gas, among other similar gases. For instance, the Center for Strategic and International Studies, a non-profit organization based in the US, reported in January 2022 that 20 major shale producers in the United States generated a free cash flow of approximately $36 billion in the first three quarters of 2021. As a result, the intensifying activities in shale gas production are facilitating the growth of the transmission sales market.
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Which Fast-Growing Trends Are Poised to Disrupt the Transmission Sales Market?
The leading trend catching attention in the transmission sales market is technological innovation. Prominent enterprises in transmission sales are adopting and launching novel technologies in their products to remain competitive in the market. For instance, GE Digital, from the United States' software sector, unveiled the GridOS software for grid orchestration in February 2023. GridOS is a comprehensive platform and application suite, ensuring safe and dependable grid control, along with providing the resilience and adaptability required by global utilities. It is crafted to renovate and transmute the electrical grid into the eco-friendly grid of the future. GridOS amalgamates energy data, network modelling, and AI/ML-propelled analytics to drive an array of smart applications created by GE, utilities, and GridOS collaborators.
What Are the Emerging Segments in the Transmission Sales Market?
The transmission salesmarket 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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Transmission Sales Industry?
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
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