Middle East & Africa Oilfield Roller Chain Market to Cross $ 72 million by 2022
Increasing oil &
gas production, enhancing technological developments, surging investments by international players
coupled with licensing of new blocks are expected to drive the market through
2022
According to a recently published TechSci Research report, “Middle
East & Africa Oilfield Roller Chain Market By
Application, By Type, By Country, Competition Forecast & Opportunities,
2012-2022”, oilfield
roller chain market in the region is projected to cross $ 72 million by
2022, on account of softening steel prices, horizontal drilling activities in
the upstream sector taking place in GCC countries. Around 75% of the wells
drilled in the Middle East are horizontal wells. Due to technical difficulties
involved in horizontal drilling, requirement of power transmission increases,
and hence this is anticipated to boost the MEA oilfield roller chain market through
2022. In addition, licensing of new blocks such as in March 2016, Eni was awarded a
new exploration license, the Cape Three Points Block 4, located in the
prolific Tano basin, offshore Ghana; and huge investments of about USD294
billion are in the Middle East & Africa oil, gas and petrochemicals
projects are anticipated
to propel oilfield roller chain market in the region during 2017-2022
Browse
18 Figures 2 Market Data Tables spread through 76 Pages and an in-depth TOC on "Middle East & Africa Oilfield
Roller Chain Market"
https://www.techsciresearch.com/report/mea-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/1103.html
Saudi Arabia is expected to dominate
the Middle East & Africa oilfield roller chain market through 2022 owing to
new oil & gas development projects and deep-water discoveries. Hoisting
operation, by application segment, garnered the largest share in the market in 2016
on the back of increased oil & gas production, continuous rise in drilling
activities, technological developments, and rise in shale gas exploration
activities. The application segment is expected to control the market through
2022. The second largest share was held by sucker rod pump followed by mud pump
and others in the indicated year. Drive chains, by type segment, dominated the
market in 2016 due to their significance in power transmission, where roller
chains such as drive chains are majorly employed. Some of the prominent
players operating in the market include Flowtools
Middle East LLC, Timken, Daido
Kogyo Co., Ltd., Diamond Chain Company, Inc., Tsubakimoto Chain Co., Jereh
Global Development LLC, Zhejiang Gidi Industrial Chain Co., Ltd., Rombo Chain,
Sugiyama Chain Co., Ltd., ARK ENGINEERING WORKS, etc.
Download
Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=1103
Customers can also
request for 10% free customization on this report.
“Rising exploration of
unconventional reserves, investments in oil and gas sector, softening steel prices are forecast to drive demand for roller chains
in the market during 2017-2022. Moreover, increasing
drilling activities and employment of EOR methods across the region are further anticipated to provide impetus to the
market through 2022.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Middle
East & Africa Oilfield Roller Chain Market By Application, By Type, By
Country, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the
future growth potential of the Middle East & Africa 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 the Middle East & Africa oilfield roller chain market.
About TechSci Research
TechSci
Research is
a leading global market research firm publishing premium market research
reports. Serving 700 global clients with more than 600 premium market research studies,
TechSci Research is serving clients across 11 different industrial verticals.
TechSci Research specializes in research based consulting assignments in high
growth and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]