Transmission Sales Market size is set to grow by USD 7.50 billion from 2024-2028, Developments in cross-border and cross-country pipeline infrastructure to boost the market growth, Technavio

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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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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Segment Overview 

This transmission sales market report extensively covers market segmentation by

1. Type
   • 1.1 Reciprocating
   • 1.2 Rotatory
   • 1.3 Centrifugal
   • 1.4 Axial Flow
2. End-user
   • 2.1 Oil and Gas
   • 2.2 Power generation
   • 2.3 Water and wastewater management
   • 2.4 Other
3. 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.

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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

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SOURCE Technavio