Transmission Sales Market Recent Developments & Emerging Trends To 2024

Latest report "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" The transmission sales market is expected to grow from an estimated market size of USD 15.2 billion in 2019 to USD 18.7 billion by 2024, registering a CAGR of 4.2% from 2019 to 2024. The transmission sales market is witnessing significant growth, which is driven by the growing shale gas production activities.

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Based on type, the reciprocating segment is expected to hold the largest share of the market

The reciprocating segment is expected to dominate the transmission sales market during the forecast period. Applications of a reciprocating compressor include oil refineries, gas pipelines, chemical plants, natural gas processing plants, and refrigeration plants. These compressors are used in the oil & gas industry for compressing the gas for the main transmission through gas pipelines. This has helped the reciprocating segment to acquire the largest share in the transmission sales market.  

Power generation is expected to be the fastest segment of the transmission sales market during the forecast period

The transmission sales market in this report has been classified based on end-user into oil & gas, power generation, water & wastewater management, and others. Power generation plants require compressors for gas turbine power plants, ash conveying, and fly ash handling, ensuring highest efficiency and operating reliability. The rising demand for power is triggering the need for additional power generation. This, coupled with the need to replace and modernize existing power plants, has resulted in the extensive use of gas turbine power plants. Compressors are used to maintain pipeline pressure in the power generation sector. Moreover, retrofit and modernization projects in Europe and North America are likely to boost the power plant segment of the transmission sales market.

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Europe: the leading transmission sales market

In this report, the transmission sales market has been analyzed with respect to 5 regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is expected to lead the Transmission sales market during the forecast period. The market in Europe is driven by the growth of the industrial sector and competitive growth in Eastern and Central Europe. This growth is influenced by increasing privatization and low-cost base. Compressors are used in manufacturing and processing sectors, which represent a major advancement in the adoption of newer technologies by customers. Its distinguishing features include high-quality compressed air, low energy consumption, reduced noise levels, and ease of maintenance. The major end-users driving the transmission sales market in the region are power generation, oil & gas, and water & wastewater management.

The report includes the profiles of some of the top players in the transmission sales market to enable an in-depth understanding of the competitive landscape. The key players in the transmission sales market include Caterpillar, Inc. (US), GE (US), Siemens (Germany), Gazprom (Russia), and Cummins (US). The leading players are adopting various strategies to increase their share in the transmission sales market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Power-to-gas Market is Expected to Grow at a Healthy CAGR with Hydrogenics, ITM Power, McPhy Energy, Siemens,MAN Energy Solutions, Nel Hydrogen

Power-to-gas Market Overview

The global power-to-gas market is projected to reach USD 42 million by 2024 from an estimated USD 26 million in 2019, at a CAGR of 10.1% during the forecast period. Effective utilization of renewable energy resources and integrated management of power and gas network are driving the growth of the global industry.

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Key Market Players:

The major players in the power-to-gas market are Hydrogenics (Canada), ITM Power (UK), McPhy Energy (France), Siemens (Germany), MAN Energy Solutions (Germany), Nel Hydrogen (Norway), ThyssenKrupp (Germany), Electrochaea (Germany), Exytron (Germany), and GreenHydrogen (Denmark).

Hydrogenics (Canada) is a key player in this segment. The company actively focuses on inorganic strategies to increase its global market share. For instance, in March 2017, Hydrogenics entered into an agreement with Wind to Gas Südermarsch in Germany to deliver a 2.4 MW PEM power-to-gas system for hydrogen production. This 2.4 MW facility would significantly help reduce emissions using renewable hydrogen.

Another major player in the market is the ITM Power(UK). The company opts for partnerships as its inorganic business strategy for increasing its clientele base globally. For instance, in September 2018 ITM Power in partnership with INOVYN, Storengy, Cadent, and Element Energy deployed a 100+ MW power-to-gas energy storage project “Project Centurion” in Runcorn, Cheshire, UK.

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Electrolysis segment is expected to lead the power-to-gas market by technology

Highly effective ways of generating hydrogen and its ability to incorporate excess renewable energy for the production of hydrogen effectively are the factors, for which electrolysis segment is expected to lead and grow at the fastest rate within all the segments.

1000 kW and Above segment is expected to capture the major share of the power-to-gas market by capacity

1000 kW and Above segment, by capacity, is expected to grow faster than others. This is mainly because of key projects that focus on the generation of large scale hydrogen using power-to-gas in industries. In addition to this, there is also substantial investment and development of power-to-gas technology in this capacity range.

The utilities segment is expected to capture the major share of the power-to-gas market by end-user

With the growing demand for hydrogen consumption and blending with the gas network to reduce natural gas consumption, the utilities segment is expected to grow. This is evident from the developments that have been executed from 2016 to 2018. Furthermore, there is also a need to effectively integrate excess renewable energy electricity into green hydrogen for various purposes.

Europe is expected to dominate the global power-to-gas market

The Europe power-to-gas market is expected to dominate by growing power-to-gas projects in countries such as Germany, France, Denmark, and the Netherlands for effective utilization of renewable energy sources, predominantly wind energy. Furthermore, the utilities and commercial sector are also driving the demand for the power-to-gas technology to meet the carbon emission norms from their operations effectively.

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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players, such as Hydrogenics (Canada), ITM Power (UK), McPhy Energy (France), Siemens (Germany),MAN Energy Solutions (Germany), Nel Hydrogen (Norway), ThyssenKrupp (Germany), Electrochaea (Germany), Exytron (Germany), and GreenHydrogen (Denmark) along with other prominent providers of power-to-gas technology.

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https://enpresearch.wordpress.com/2021/06/22/increasing-focus-on-the-generation-of-clean-energy-to-drive-the-micro-turbines-market/

https://enpresearch.wordpress.com/2021/06/09/solid-oxide-fuel-cell-market-analysis-opportunity-forecast-2025/

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Suite 430
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Gas Insulated Transformer Market rising demand growth trend insights for next 5 years

Global Gas Insulated Transformer Market Overview:

The gas insulated transformer market is expected to grow from USD 2.75 Billion in 2018 to USD 3.45 Billion by 2023, at a CAGR of 4.61% between 2018 and 2023. The market is set to witness growth due to factors such as no risk of oil leakage and space constraints in densely populated urban areas. Also, government initiatives toward improving electrification rate and rising transmission & distribution investments are further expected to drive the gas insulated transformer market.

Key Market Players:

The gas insulated transformer market report includes the profiles of some of the key players in the gas insulated transformer market, which include ABB (Switzerland), GE (US), Mitsubishi Electric (Japan), Siemens (Germany), Toshiba (Japan), and Arteche (Spain).

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Utility segment to hold largest share of gas insulated transformer market during forecast period

The utility segment is expected to hold the largest share of the gas insulated transformer market during the forecast period. Power utilities are major suppliers of electricity to factories, commercial establishments, and homes. The projected growth of the market for this segment market during the forecast period is attributed to the growing demand for reliable power supply and rise in urbanization that has led to increasing investments in the power infrastructure. This is expected to lead to the development of transmission and distribution infrastructure, which, in turn, will increase the demand for gas insulated substations and installation of gas insulated transformers.

The report’s target audience includes:

• Gas Insulated Transformer manufacturers, distributors, and suppliers
• Power generation companies
• Industry, energy, and environmental associations
• Raw material providers
• Government and research organizations
• Government and private utilities

Gas insulated transformer market for indoor installation to grow at higher CAGR during forecast period

The market for the indoor installation is expected to grow at the higher CAGR during the forecast period. Gas insulated transformers are non-flammable, non-explosive, and have compact design which makes them ideal preference for installations in underground and indoor substations in urban areas. The increase in renewable power generation, combined with the demand for reliable power sources, and the rise in urbanization support the growth of the market for indoor installation of gas insulated transformers.

Instrument transformers to hold largest share of gas insulated transformer market during forecast period.

The instrument transformers are expected to dominate the gas insulated transformer market with the largest size and the highest CAGR during the forecast period. Instrument transformers are electrical machines that use the electromagnetic properties of alternating currents and ferromagnetic materials to produce voltage and current at different levels from those received as input. They are mainly used for measuring, protecting, and controlling circuits in substations and switchyards. The growth of the market for instrument transformers is attributed to the refurbishment of aging power infrastructure and huge investments in smart grids and energy systems.

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Asia Pacific: Key market for gas insulated transformer market during the forecast period.

In this report, the gas insulated transformer market has been analyzed with respect to four regions Asia Pacific, North America, Europe, and Rest of the World. Rest of the World includes regions such as South America, and the Middle East and Africa. Asia Pacific is expected to account for the largest share of the global gas insulated transformer market by 2018, and this trend is projected to continue till 2023. Almost all the countries in the region are augmenting their power generation capacities. India, China, and Indonesia are investing heavily in renewable electricity generation projects, thereby driving the growth of the gas insulated transformer market in Asia Pacific.

Browse related reports:

Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022

Instrument Transformers Market by Type (Current, Potential, and Combined Instrument Transformers), Enclosure Type (Indoor and Outdoor), Dielectric Medium (Solid, Liquid, and SF6 Gas), Voltage, Application, End-User, and Region - Global Forecast to 2022

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com