The transmission sales market is projected to grow at a CAGR of 4.2%, from 2019 to 2024
NEW YORK, Nov. 11, 2019 /PRNewswire/ --
The transmission sales market is projected to grow at a CAGR of 4.2%, from 2019 to 2024.
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The transmission sales market is projected to reach USD 18.7 billion by 2024, from an estimated USD 15.2 billion in 2019, at a CAGR of 4.2%. Transmission equipment is used for gas lift & injection, gas processing station, LNG & FPS, and storeage & facilititates applications in various end-use sectors such as oil & gas, power generation, water & waste water management, and others. 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 segme....