San Francisco, CA -- (SBWIRE) -- 08/14/2019 -- Global Transmission Sales Market: Overview
The oil and gas industry has evolved into an immensely lucrative sector. The complexity of operations across the oil industry has led to the development of customized, cutting-edge technologies. Concerns related to the safety of oilrigs have prompted operators to induct the latest technologies. This factor has led to increased demand within the global transmission sales market. Displacement dynamics of oil mines play an important role in deciding the technology that needs immediate deployed. Therefore, the multifaceted utility of transmission sales equipment across oilfields has also aided market growth.
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Transmission sales equipment is an important component of the safety and control system across oilfields. The need to avert the incidence of oil spills has generated tremendous demand within the global transmission sales market. Furthermore, pollution caused by the oil and gas industry has also generated global outrage. This has compelled oilfield operators to induct transmission sales equipment. The total volume of revenues in this market is expected to grow as the oil industry becomes a brewing avenue for investment.
A team of analysts at TMR Research (TMR) looked into several end-use industries of transmission sales equipment to find the prospects of market growth. The global transmission sales market can be segmented on the basis of the following parameters: type, application, compression media, end-users, and region. On the basis of application, the use of transmission sales for gas storage has gained prominence.
Global Transmission Sales Market: Notable Developments
Advancements in the oil industry, coupled with the need for wastewater treatments across the industrial sector, has led to several key market developments.
Mitsubishi Heavy Industries Compressor Corporation (MCO) entered into a joint venture with Mitsubishi Corporation to establish a new manufacturing base in South Korea. The primary purpose of the collaboration is to foster integrity across the organization, and offer easy access to Korean customers. The bar of competition across the transmission sales market has gone a notch higher with this move.
Contracts for manufacturing compression trains and compressors have helped market players in achieving sustainable growth. Siemens has emerged as a prominent player that has succeeded in catering to its commitments related to regional projects. The company's strategies have set afoot key plans and developments across the market.
Other leading vendors in the global transmission sales market are:
Caterpillar, Inc. (US)
Global Transmission Sales Market: Growth Drivers
Need for Water and Wastewater Management
The residential, commercial, and industrial sectors are battling the cons of improper management of water and wastewater. This factor has compelled regional authorities to install water management systems across different tiers. Hence, the global transmission sales market is slated to reach fruition in terms of growth optimization.
The power sector has shown staunch determination in inducting and managing new technologies. This factor is majorly responsible for the growing relevance of transmission sales equipment across power generation units. Furthermore, use of improved systems across power utilities has also driven market demand.
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Global Transmission Sales Market: Regional Outlook
Based on regions, the global transmission sales market is segmented into Latin America, the Middle East and Africa, Europe, Asia Pacific, and Europe. The market for transmission sales in the Middle East is expanding alongside advancements in oilfield technologies.
On the basis of type, the transmission sales market has been segmented as follows:
On the basis of application, the transmission sales market has been segmented as follows:
Gas Processing Station
LNG & FPS
Storage & Facilities
On the basis of end-user, the transmission sales market has been segmented as follows:
Oil & Gas
Water & Wastewater Management
On the basis of compression media, the transmission sales market has been segmented as follows: