NEW YORK, Jan. 23, 2024 /PRNewswire/ — According to Technavio, the transmission sales market is to grow by USD 6.90 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 6.82% with a YOY growth rate of 6.58% during the forecast period. Europe held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 37%.
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Technavio has announced its latest market research report titled Global Transmission Sales Market
Technavio has segmented the market based on Type (Reciprocating, Rotatory, Centrifugal, and Axial Flow), End-user (Oil and Gas, Power Generation, Water and wastewater management, and Others), and Geography (Europe, North America, APAC, South America, and Middle East and Africa).
The market share growth by the reciprocating segment will be significant during the forecast period. Reciprocating engines, also known as piston engines, operate through to-and-fro motion. The combustion of the fuel-air mixture generates pressure, initiating the reciprocating motion of the piston, which is then converted into rotary motion by the crankshaft. Currently holding a 100% share in automotive engines, the demand for fuel-efficient vehicles, driven by safety awareness, is increasing the demand for reciprocating engines. Additionally, there’s a growing trend in the development and integration of performance-enhancing systems.
Based on geography, the global transmission sales market is segmented into Europe, North America, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global transmission sales market.
Europe is estimated to contribute 37% to the growth of the global market during the forecast period. Several upcoming pipeline projects in the region aim to enhance the natural gas supply. Notable plans include delivering natural gas from Turkey to Greece and Bulgaria and the Trans-Anatolian Natural Gas Pipeline (TANAP) transporting gas from Azerbaijan to Europe via Turkey. These projects are expected to significantly increase natural gas consumption in Europe as the region shifts towards natural gas-based power generation.
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The developments in cross-border and cross-country pipeline infrastructure are key factors driving market growth. Pipelines are a vital mode of transportation in the oil and gas sector, especially when other means are impractical. As demand rises, the oil and gas pipeline network continues to grow, connecting new exploration sites to refineries and meeting the transportation needs of crude oil, natural gas, and petroleum products.
Technological advances in pipeline inspection are a major trend in the Transmission Sales Market. Volatility in raw material prices is a significant challenge restricting market growth.
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Major Technologies
Growing trade activities in the global oil and gas sector are driving the construction of cross-country and cross-border pipelines. This surge in pipeline projects worldwide will boost the demand for pipeline monitoring equipment and management software systems to ensure efficient operations. Automatic Transmission, Manual Transmission, Continuously Variable Transmission (CVT), Dual-Clutch Transmission (DCT), Electric Vehicle (EV) Transmissions, Hybrid Transmissions, Torque Converters, Gearboxes, Transmission Fluids, OEM (Original Equipment Manufacturer), Aftermarket Sales, Automotive Industry, Vehicle Powertrain, Drivetrain Components, Transmission Control Units (TCU), Transmission Repair and Maintenance, Transmission Efficiency, Vehicle Fuel Economy, Heavy-Duty Transmissions, Commercial Vehicles, Automotive Supply Chain, Gear Ratios, and Transmission Sensors are all crucial elements in ensuring the seamless functioning of these pipelines, highlighting the interconnected nature of the oil and gas industry with the automotive sector.
What are the key data covered in this Transmission Sales Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the Transmission Sales Market between 2023 and 2027
Precise estimation of the size of the Transmission Sales Market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the Transmission Sales Market industry across Europe, North America, APAC, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of Transmission Sales Market companies
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio