Press Release

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.

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“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 – 2022has 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.

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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.

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