Dublin, Sept. 18, 2019 (GLOBE NEWSWIRE) -- The "Transmission Sales Market by Type (Reciprocating, Rotary, Centrifugal, Axial Flow), Application (Artificial lift, Gas Processing Station, LNG & FPS, Storage & Facilities), Compression Media, End Users, and Region - Global Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.
The transmission sales market is estimated to be valued at USD 14.6 billion in 2018 and is projected to reach USD 18.69 billion by 2024, at a CAGR of 4.2%.
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.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Transmission Sales Market
4.2 Transmission Sales Market, By Region
4.3 Europe Market, By End-User & Country
4.4 Market, By Compression Media
4.5 Market, By Type
4.6 Market, By Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Shale Gas Production Activities
5.2.1.2 Increasing Operational Transmission Pipelines, Gas Processing, and FPS & LNG Vessels
5.2.1.3 Automation and Transition to Energy Efficiency in Oil & Gas Sector
5.2.1.4 Low Cost of Operation
5.2.2 Restraints
5.2.2.1 High Maintenance Cost
5.2.2.2 Technical Challenges Such as Manufacturing Defects and Improper Installation
5.2.3 Opportunities
5.2.3.1 Increased Focus on Mature Oil & Gas Fields
5.2.3.2 Industrialization in Emerging Economies Would Increase the Demand for Transmission
5.2.4 Challenges
5.2.4.1 Gray Market Providing Low-Quality and Cheap Products
6 Transmission Sales Market, By Compression Media
6.1 Introduction
6.2 Air Compression
6.2.1 Demand for Power Generation in the European Region Offers a Lucrative Opportunity to Air Compression Providers
6.3 Gas Compression
6.3.1 Asia Pacific is Projected to Be the Fastest Growing Gas Compression Market
7 Transmission Sales Market, By Type
7.1 Introduction
7.2 Reciprocating Compressor
7.2.1 Europe is the Largest Reciprocating Compressor Market
7.3 Rotary Compressor
7.3.1 North America is Expected to Be the Second Largest Rotary Compressor Market
7.4 Centrifugal Compressor
7.4.1 Increasing Oil & Gas Production in the American Region Offers a Lucrative Opportunity to Centrifugal Compressor Providers
7.5 Axial Flow Compressor
7.5.1 Growth in Industrialization in the Asia Pacific Region Offers a Good Opportunity to Axial Flow Compressor Providers
8 Transmission Sales Market, By End-User
8.1 Introduction
8.2 Oil & Gas
8.2.1 Oil & Gas Segment is Growing at the Highest Rate Owing to the Rise in Developments of Unconventional Reserves
8.3 Power Generation
8.3.1 Increasing Demand for Power Generation Drives the Growth of the Transmission Sales Market
8.4 Water & Wastewater Management
8.4.1 Developments in Water Recycling Plants Around the Globe are Expected to Aid the Growth of the Transmission Sale Market
8.5 Others
9 Transmission Sales Market, By Application
9.1 Introduction
9.2 Artificial Lift
9.2.1 Increase in Oil Production From Mature Wells is Likely to Support the Growth of the Artificial Lift Segment
9.3 Gas Processing Station
9.3.1 Asia Pacific Held the Largest Share of the Gas Processing Station Segment
9.4 LNG & FPS Vessel
9.4.1 New Discoveries in Deepwater are Expected to Leverage the LNG & FPS Vessel Segment
9.5 Storage & Facilities
9.5.1 Europe is Expected to Be the Largest Storage & Facilities Market
9.6 Others
10 Transmission Sales Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Shale Development in the US is Driving the US Transmission Sales Market
10.2.2 Canada
10.2.2.1 Rising Onshore Oil & Gas Production Along With Pipeline Transmission is Expected to Boost the Demand for the Market in Canada
10.2.3 Mexico
10.2.3.1 Investments for Developing Shale Resources are Expected to Drive the Mexican Transmission Sales Market
10.3 Asia Pacific
10.3.1 China
10.3.1.1 Rapid Industrialization is Likely to Drive the Chinese Market
10.3.2 Australia
10.3.2.1 Production Initiation From Shale Resources Along With Plans to Redevelop Mature Fields is Likely to Drive the Transmission Sales Market in Australia
10.3.3 India
10.3.3.1 Redevelopment of Oilfields is Expected to Drive the Indian Market During the Forecast Period
10.3.4 Rest of Asia Pacific
10.4 Middle East & Africa
10.4.1 Iran
10.4.1.1 Enhanced Natural Gas Production and Exploration From Onshore Fields are Expected to Drive the Transmission Sales Market in Iran
10.4.2 Qatar
10.4.2.1 Demand for Transmission Sales is Likely to Grow in Qatar Because of Rising Exports in the Oil & Gas Industry
10.4.3 Egypt
10.4.3.1 Investments in the Power Generation Segment are Expected to Drive the Egyptian Market
10.4.4 Saudi Arabia
10.4.4.1 Huge Untapped Oil & Gas Reserves Offer Lucrative Opportunities for Oil & Gas Activities, thereby Boosting the Saudi Arabian Market Growth
10.4.5 Rest of Middle East & Africa
10.5 Europe
10.5.1 Russia
10.5.1.1 The Exploration & Production Activities in Russia's Far East Region Have Picked Up Pace and are Driving the Russian Transmission Sales Market
10.5.2 UK
10.5.2.1 Redevelopments in Brownfields are Expected to Drive the UK Market
10.5.3 Norway
10.5.3.1 Growth in Natural Gas Production and Exploration is Offering Opportunities for the Transmission Sales Market in Norway
10.5.4 Rest of Europe
10.6 South America
10.6.1 Brazil
10.6.1.1 Offshore Developments are Expected to Drive the Brazilian Market
10.6.2 Venezuela
10.6.2.1 Stabilizing Crude Oil Prices are Expected to Revitalize the Oil Production Activities, Thus Driving the Venezuelan Market
10.6.3 Argentina
10.6.3.1 Development of Shale Reserves is Expected to Drive the Transmission Sales Market
10.6.4 Rest of South America
11 Competitive Landscape
11.1 Overview
11.2 Market Share, 2018
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Contracts & Agreements
11.3.3 Mergers & Acquisitions
11.3.4 Investments & Expansions
12 Company Profile
12.1 Cummins
12.2 Caterpillar
12.3 GE
12.4 Siemens
12.5 Gazprom
12.6 Mitsubishi Heavy Industries
12.7 Hyundai Heavy Industries
12.8 Atlas Copco
12.9 Ingersoll Rand
12.10 Bauer Kompressoren
12.11 Ariel Corporation
12.12 HMS Group
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