Europe Oilfield Roller Chain Market to Cross $ 133 million by 2022
Enhanced use of oil recovery
techniques, growing
exploration & production activities coupled with licensing of new blocks to
drive Europe oilfield roller chain market through 2022
According to a recently published TechSci Research report, “Europe
Oilfield Roller Chain Market By Application, By Type, By Country,
Competition Forecast & Opportunities, 2012 – 2022”, oilfield roller chain market in Europe is projected to cross $ 133
million by 2022. Growth in the market size is
expected on account of licensing of new blocks in Europe, which would result
increase drilling activities in the region thereby, generating demand for
oilfield roller chains. In March 2016, UK Oil & Gas Authority (OGA) announced
159 onshore blocks under the 14th Onshore Oil and Gas Licensing Round that has
been offered to successful applicants. Around 75% of 159 blocks offered were
unconventional shale oil or gas. In May 2016, Norway announced
to open Virgin Arctic Waters to offshore oil and gas exploration. All the above
stated factors are predicted to boost the market in the coming years.
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23 Figures 2 Market Data Tables spread through 79 Pages and an in-depth TOC on "Europe Oilfield Roller Chain Market"
https://www.techsciresearch.com/report/europe-oilfield-roller-chain-market-by-application-hoisting-operations-sucker-rod-pump-mud-pump-others-by-type-drive-chain-conveyor-chain-multi-strand-chain-others-by-country-competition-forecast-opportunities/1150.html
Hoisting operation, by application
segment, captured the largest share in Europe oilfield roller chain market in 2016,
as it is a major activity performed in drilling rigs. The segment’s share is
expected to elevate by 2022 due to growth in the number of oil and gas rigs in
the region owing to surge in drilling activities, which is estimated to fuel demand
for oilfield roller chains in the region through 2022. The second largest share
was held by sucker rod pump followed by mud pump and others in the same year. Drive
chain, by type segment is anticipated to continue dominating the market during
the forecast period backed by its importance in power transmission. Some
of the prominent players operating in
the market include Rexnord
Corporation, DAIDO KOGYO CO., LTD., Renold plc., Diamond Chain Company, Inc., Emerson
Bearing Company, Wippermann, Joh. Winklhofer Beteiligungs GmbH & Co. KG, Hale
Brothers, Inc, and Fördertechnik Kentzler GmbH.
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“Rising exploration of
unconventional reserves and deep & ultradeep waters, licensing of
unexplored wells in Europe and potential for shale development in
Russia are the factors expected to spur demand
for oilfield roller chains in the region during 2017-2022. Moreover, increase
in horizontal drilling and surging utilization of enhanced oil
recovery techniques such as carbon capture sequestration, microbial EOR, etc. All these factors are
projected to aid Europe oilfield roller chain market to exhibit double digit
growth in the course of next five years.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Europe Oilfield
Roller Chain Market By Application, By Type, By Country, Competition Forecast
& Opportunities, 2012 – 2022” has evaluated the future growth potential of Europe oilfield roller chain market and
provides statistics and information on market structure and trends. The report
is intended to provide cutting-edge market intelligence and help decision
makers take sound investment evaluation. Besides, the report also identifies
and analyzes emerging trends along with essential drivers, challenges and
opportunities available in Europe
oilfield roller chain market.
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