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Global Transmission Sales Market Size and Forecast 2024-2033|Caterpillar Inc., Cummins Inc., PJSC Gazprom, Siemens AG, General Electric Company

The Transmission Sales by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/transmission-sales-global-market-report

According to The Business Research Company’s Transmission Sales, The transmission sales market size has grown strongly in recent years. It will grow from $16.86 billion in 2023 to $18 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to vehicle demand, fuel efficiency regulations, global economic trends, consumer preferences.

The transmission sales market size is expected to see strong growth in the next few years. It will grow to $23.49 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to electric vehicle adoption, autonomous vehicles, government policies, global market expansion. Major trends in the forecast period include shift to automatic transmissions, electrification dominance, advanced driver assistance systems (adas), lightweight materials, ai and machine learning integration, modular and scalable designs, market consolidation.

The growing shale gas production activities are expected to propel the growth of the transmission sales market going forward. Shale gas refers to trapped natural gas found in shale rocks. Shale gas production helps with transmission sales and storage as natural gas is transported over great distances through high-pressure pipelines. It begins with the processing of shale gas, among other natural gases. For instance, in January 2022, according to the Center for Strategic and International Studies, a US-based non-profit organization, in the first three quarters of 2021, 20 of the United States shale producers earned a free cash flow of around $36 billion. Therefore, the growing shale gas production activities are driving the growth of the transmission sales market.

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The transmission sales market 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

Technological advancement is the key trend gaining popularity in the transmission sales market. Major companies operating in transmission sales are involved in introducing new technologies in their product offerings to sustain their position in the transmission sales market. For instance, in August 2021, Siemens Energy, a Germany-based gas and power production company, launched SenseSolution with SensSolution technology, which is a power transmission solution with cloud connectivity and a dedicated app for its operations. To assist operators in evaluating, monitoring, and supporting system operations in real-time, it enables the secure transmission of substation data to the cloud. One of SenseSolution’s unique features is that it sends all accessible data from substations to a cloud-based platform so that operators can explore different applications and dashboards to better understand the condition of a system at any given time.

The transmission sales market report table of contents includes:

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