Asia Pacific Oilfield Roller Chain Market is expected to grow at a robust CAGR
Asia Pacific Oilfield Roller Chain Market is expected to grow owing to increasing
rig count across Asia Pacific throughout the forecast period.
According to TechSci Research report, “Asia Pacific Oilfield Roller Chain Market - By Country,
Competition, Forecast and Opportunities, 2018-2028”, the Asia Pacific Oilfield
Roller Chain Market is expected to register robust growth during the forecast
period. Numerous countries in the Asia Pacific
region, including Australia, Malaysia, and Indonesia, possess substantial
offshore oil and gas reserves. The growth of offshore exploration and deepwater
drilling has led to an increased need for roller chains specifically engineered
for demanding marine conditions.
The Asia Pacific region is currently witnessing strong economic growth
and urbanization, resulting in a rising need for energy resources. This demand
is stimulating the exploration and production of oil and gas, thereby
generating opportunities for the oilfield roller chain market. Roller chains
play a crucial role in various drilling and production equipment, making them
indispensable in meeting the energy requirements of the region.
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Based on application, the
Hoisting Operations segment is expected to dominate the market during the
forecast period. Hoisting operations encompass the lifting and lowering of
heavy equipment, well components, and personnel throughout drilling,
completion, and production activities. They are fundamental in the processes of
drilling, well intervention, and production, involving the lifting of equipment
such as drill strings, casing, tubing, and pumps. Thus, they form an integral
part of oilfield operations. The Asia Pacific region has witnessed a surge in
energy demand, leading to increased exploration and production activities.
Consequently, hoisting operations play a crucial role in the extraction and
transportation of hydrocarbons from both onshore and offshore fields, thereby
driving the demand for roller chains. The Asia Pacific region, specifically
countries like Australia, Malaysia, and Indonesia, is experiencing significant
growth in offshore and deepwater drilling activities. These operations heavily
rely on hoisting equipment, including roller chains, to facilitate the lifting
and lowering of equipment in challenging marine environments. Moreover, the
integration of IoT technologies enables condition monitoring and predictive
maintenance of roller chains and hoisting equipment, offering opportunities for
technology providers to reduce downtime and maintenance costs.
Based on type, the Conveyor Chain segment is projected to dominate the
market throughout the forecast period. Conveyor chains are vital components
used for the transportation of materials and bulk goods throughout various
stages of the oil and gas production process, including drilling,
transportation, and processing. They play an integral role in material handling
and transportation in the oil and gas industry, finding applications in moving
drilling mud, cement, and other materials during drilling, as well as in the
transportation of produced oil and gas through pipelines. The Asia Pacific
region is witnessing a significant increase in production activities, both
onshore and offshore, making conveyor systems crucial for efficient material
and product transportation, mainly relying on roller chains. Offshore drilling
and production operations heavily rely on extensive conveyor systems for the
movement of materials and products to and from platforms and vessels. The
expansion of offshore exploration in the region substantially drives the demand
for conveyor chains. Moreover, the integration of automation and IoT
technologies in conveyor systems presents opportunities for condition
monitoring, predictive maintenance, and enhanced control, contributing to
improved efficiency and reduced downtime. Manufacturers of conveyor chains can
explore avenues to develop environmentally friendly solutions aligning with the
sustainability goals and regulations of the oil and gas industry.
Key market players in the Asia Pacific Oilfield Roller Chain Market are:-
- Tsubakimoto Chain Co., Ltd.
- Donghua Chain Group
- Rexnord Corporation
- Hangzhou Vision Chain Transmission Co., Ltd.
- Hitachi Metals, Ltd.
- Jiangsu Gidi Chain Ltd.
- KettenWulf Betriebs GmbH
- Sedis Group
- Indian Chain Manufacturers
- Taiwan Chih-Kang Material Company
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“The Asia Pacific Oilfield Roller Chain Market in China is poised to be
the dominant force in the industry. China has made significant investments in
research and development in the oil and gas sector. This investment paves the
way for the implementation of advanced drilling technologies that necessitate
specialized roller chains. Consequently, there is a growing demand for
innovative solutions in the roller chain industry.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Asia Pacific Oilfield Roller Chain Market By Application (Hoisting
Operations, Sucker Rod Pump, Mud Pump and Others), By Type (Drive Chain,
Conveyor Chain, Multi Strand Chain and Others), By Country, By Competition
Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Asia Pacific Oilfield
Roller Chain Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Asia Pacific Oilfield
Roller Chain Market.
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