Global Oilfield Roller Chain Market By Application (Hoisting Operations, Sucker Rod Pump, etc.), By Type (Drive Chain, Conveyor Chain, etc.), By Region (North America, Middle East & Africa, etc.), Competition Forecast & Opportunities, 2012-2022
Tremendous growth in exploration of unconventional reserves such as shale oil & gas, especially in North America and China, rising use of enhanced oil recovery techniques, coupled with recovering crude oil prices is boosting oil & gas drilling activities across the globe. This is augmenting demand for oilfield roller chains for transmitting power and pulling objects in tough operating conditions in oil & gas fields. Based on requirement, diverse types of oilfield roller chains such as drive chain, conveyor chain, multi strand chain, etc., are used. Drive chains move over sprockets where teeth of sprocket link with holes present in the roller chain. Conveyor chains are used to move products/equipment in and out of the hole through the drilling line. Multi strand chains, on the other hand, are mainly used to transmit maximum power to the equipment. Surging oil & gas consumption across the globe is increasing rig count and this is anticipated to drive growth in global roller chain market through 2022.
According to “Global Oilfield Roller Chain Market By Application, By Type, By Region, Competition Forecast & Opportunities, 2012-2022”, global oilfield roller chain market is projected to reach $ 430 million by 2022, due to rising production and consumption of oil across the globe. In 2016, North America dominated demand for oilfield roller chains across the globe, due to increasing rig count and rising demand for oil & gas. Over the last few years, United States and Canada have emerged as the major demand generators for roller chains, as these countries are the key centers for shale gas developments backed by factors such as accessible formations, large proven reserves and availability of advanced drilling & fracturing technologies and infrastructure. Few of the major oilfield roller chain manufacturers include Timken, Rexnord, Daido Kogyo, Tsubakimoto Chain, Jereh, and Renold PLC. “Global Oilfield Roller Chain Market By Application, By Type, By Region, Competition Forecast & Opportunities, 2012-2022” discusses the following aspects of the global oilfield roller chain market: