Safety is the top-most priority across the oil and gas industry. Oil companies are under constant scrutiny of government and environmental bodies, and this compels these companies to have a proper system of waste management and hazard prevention. This factor has played an integral role in the growth of the global transmission sales market. Furthermore, displacement technologies used across an oilrig depends on the type of operations at hand. This factor has also led to increased demand for transmission sales in the oil and gas industry.
Siemens has been the most prominent vendor on the competitive landscape. The company has made earnest efforts to cater to the needs of the clients. Popularity of compressions trains has helped several vendors in earning fresh revenues.
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TMR Research, in this blog makes valued assertions about growth within the global transmission sales market.
Need to Prevent Oil Spills
Oil spills can cause serious backlogs for oil companies. Several companies have become defunct from the debt they incurred due to excessive oil spill incidents. The use of transmission sales equipment across an oilfield prevents the occurrence of such spills. Besides, the demand within the transmission sales market could increase as gas storage applications gain prominence across the oil industry.
Use of Transmission Sales in the Power Sector
Presence of a robust power generation industry has played an integral role in the growth of the global transmission sales market. The need for managing key technologies across the power sector has been a keystone of market growth Wastewater treatment has also emerged as a key area of study for national governments. This factor has also generated humongous demand within the global transmission sales market.
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Some of the leading players in the global transmission sales market include Gazprom (Russia), GE (US), Cummins (US), and Caterpillar, Inc. (US).