Global Transmission Sales Market to Witness CAGR of 5.6% from 2023 to 2031, Estimated to Reach US$ 23.24 Billion by End of the Forecast Period

WILMINGTON, DELAWARE, UNITED STATES, November 27, 2023 /EINPresswire.com/ -- Global Transmission Sales Market Synopsis
Transmission sales involve marketing and distributing mechanical systems responsible for transmitting power within vehicles and machinery. Industries such as automotive, aerospace, and industrial sectors rely on transmission sales for operational efficiency and functionality. Prior to the pandemic, the transmission sales market maintained stability, benefiting from industries such as automotive and manufacturing that heavily relied on transmission systems for seamless operations. The global outbreak disrupted supply chains and industrial activities, affecting transmission sales. Despite initial setbacks, the renewed emphasis on sustainable infrastructure and the resurgence of the automotive sector have contributed to the market's gradual recovery and resurgence, highlighting the resilience of the industry.

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Global Transmission Sales Market Growth Drivers:
• Infrastructure Development: The need for extensive infrastructure development serves as a significant driver in the transmission sales market. The Global Infrastructure Outlook report estimated that $94 trillion in infrastructure investment is required by 2040. Transmission systems are essential components for energy and water distribution, supporting urbanization and economic growth. Governments and private entities are investing in transmission projects to meet rising energy and water demands, driving the market's growth by providing reliable and efficient infrastructure solutions.
• Renewable Energy Expansion: The rapid expansion of renewable energy sources acts as a driving force in the transmission sales market. The International Renewable Energy Agency projected that by 2050, renewable energy could provide 86% of global power demand. As solar, wind, and hydropower sources increase, transmission systems become vital to transmit energy from remote generation sites to consumption centers. This driver underscores the market's response to the global shift towards cleaner energy alternatives and the need for efficient transmission networks.
• Urbanization and Industrialization: Urbanization and industrialization are driving factors in the transmission sales market. The United Nations projected that 68% of the world's population will reside in urban areas by 2050. Urban growth and industrial expansion demand reliable transmission systems for electricity, water, and wastewater management. A study by the World Bank stated that urbanization and industrialization contribute to water scarcity, necessitating efficient water transmission. This driver emphasizes how transmission sales cater to the increasing infrastructure requirements of rapidly growing urban and industrial environments.

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Global Transmission Sales Market Key Insights & Developments:
• The transmission sales market is growing rapidly, due to the increasing demand for automatic transmissions in vehicles. Some of the recent developments in the transmission sales market include the increasing demand for automatic transmissions, the development of new technologies, the growth of the electric vehicle market, the increasing adoption of automation, and the growing focus on sustainability.
• The Asia Pacific region exhibits highest growth rate in the transmission sales market. The International Energy Agency estimated that by 2040, Asia Pacific will account for 60% of global energy demand growth. Rapid urbanization, industrialization, and the expansion of renewable energy sources drive the need for efficient transmission systems. The region's dynamic economic growth fosters increased demand for transmission sales solutions to support its energy and infrastructure development.

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Global Transmission Sales Market: Competitive Landscape and Key Developments
o Ariel Corporation
o Atlas Copco Group
o BAUER COMP Holding GmbH
o Caterpillar
o Cummins Inc.
o General Electric
o HD HYUNDAI HEAVY INDUSTRIES CO., LTD.
o HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC
o Ingersoll Rand
o MITSUBISHI HEAVY INDUSTRIES, LTD.
o Siemens
o Other Industry Participants

In August 2023, Ingersoll Rand officially concluded its acquisition of Howden Roots from Chart Industries. This strategic move serves to broaden Ingersoll Rand's product offerings, introducing new and supplementary low-pressure compression and vacuum technologies to their portfolio.
In August 2022, Cummins successfully finalized its acquisition of Meritor, Inc., a prominent worldwide provider of drivetrain, mobility, braking, aftermarket, and electric powertrain solutions catering to commercial vehicle and industrial sectors.

Global Transmission Sales Market:
By Compression Media
o Air Compression
o Gas Compression
By Type
o Reciprocating Compressor
o Rotary Compressor
o Centrifugal Compressor
o Axial Flow Compressor
By Application
o Artificial Lift
o Gas Processing Station
o LNG & FPS Vessel
o Storage & Facilities
o Others
By End-User
o Oil & Gas
o Power Generation
o Water & Wastewater Management
o Others

By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

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The Niche Research
+1 302-232-5106
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