The transmission sales market is projected to grow at a CAGR of 4.2%, from 2019 to 2024

NEW YORK, Nov. 11, 2019 /PRNewswire/ --

The transmission sales market is projected to grow at a CAGR of 4.2%, from 2019 to 2024.

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The transmission sales market is projected to reach USD 18.7 billion by 2024, from an estimated USD 15.2 billion in 2019, at a CAGR of 4.2%. Transmission equipment is used for gas lift & injection, gas processing station, LNG & FPS, and storeage & facilititates applications in various end-use sectors such as oil & gas, power generation, water & waste water management, and others. The main drivers for the transmission sales market are increasing shale gas activities and low operation cost. However, high maintenance cost can hinder the growth of the market.

The rotary segment is expected to grow at the fastest CAGR from 2019 to 2024.
The rotary type segment is expected to be the fastest growing fuel segment of the transmission sales market from 2019 to 2024.The compressor is also addressed to as screw compressors.

As the name suggests, instead of any piston, the rotating motion of the meshing helical screws, known as rotors, is used to compress the gas.Rotary compressors are used for applications including gas gathering and processing in refineries and plants.

Increasing oil & gas production activities and growing demand for processed and packaged food are likely to drive the rotary compressor market during the forecast period.

The oil & gas segment is expected to be the largest segment in the transmission sales market during the forecast period.
The oil & gas segment is expected to be the largest market during the forecast period.Oil & gas upstream sector includes use of compressors for hydrocarbon vapor recovery, wellhead gas reinjection, onshore and offshore platforms, and FPSO (Floating, Production, Storage, and Offloading) vessels.

In the oil & gas midstream sector, screw compressors are used for natural gas boosting and gathering natural gas, decanting, separation, natural gas and CO2 dehydration, and gas offloading.Screw compressors are important for onshore and offshore applications, ranging from vapor recovery and gas handling to flash gas processing and fuel gas boosting.

These applications are likely to drive the demand for compressors in the oil & gas segment.

Asia Pacific": The fastest market for the transmission sales market.

Asia Pacific is currently the largest transmission sales market, followed by North America and Europe.Asia Pacific is projected to grow at the highest CAGR, from 2019 to 2024.

The major end-users for compressors in the region include the water & wastewater management, power plants, chemicals & petrochemicals, and oil & gas.Rising disposable income, growing demand for energy, and increasing foreign investments are the major factors driving the industrial growth at a high rate in these countries, which would result in higher demand for compressors, thereby driving the transmission sales market during the forecast period.

On the other hand, inter- and intra-country oil & gas pipeline networks, expansion in liquefaction and regasification capacities, and increase in refining capacity are the prominent factors driving the demand for compressors in the oil & gas industry.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
? By Company Type: Tier 1? 70%, Tier 2? 20%, and Tier 3?10%
? By Designation: C-Level?50%, Director Level?20%, and Others?30%

By Region: North America?40%, Asia Pacific?21%, Europe?15%, the Middle East & Africa?13%, and South America? 11%
Note: Others includes product engineers, product specialists, and engineering leads.

Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: >USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3:

The leading players in the transmission sales market include Caterpillar, Inc. (US), GE (US), Siemens (Germany), Gazprom (Russia), and Cummins (US).

Research Coverage:
The report defines, describes, and forecasts the transmission sales market by type, application, compression media, end-user, and region.It also offers a detailed qualitative and quantitative analysis of the market.

The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.It also covers various important aspects of the market.

These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the transmission sales market.

Key Benefits of Buying the Report
The report will provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall transmission sales market and the subsegments.The scope of the study addresses market analysis of gas compression and gas compression engines, and their applicability in transmission and related applications.

This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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