APAC Oilfield Roller Chain Market to Cross $51 million Sales by 2022

Increasing exploration of unconventional reservoirs, surging applications of EOR and rise in drilling activities to drive Asia-Pacific oilfield roller chain market through 2022

According to a recently published TechSci Research report, “Asia-Pacific Oilfield Roller Chain Market By Application, By Type, By Country, Competition Forecast & Opportunities, 2012-2022”, oilfield roller chain market in the region is anticipated to cross $ 51 million by 2022, on account of tremendous growth in exploration of unconventional reservoirs of shale gas/oil, especially in China, and use of enhanced oil recovery techniques such as carbon capture sequestration, microbial EOR, etc. Upstream companies present in the region have been reducing their budget on capital expenditure due to declining crude oil prices, over the past few years. However, since crude oil prices have started to firm up, companies are willing to invest in exploration activities. In 2016, ONGC announced plans to invest around USD10 billion in offshore East coast in India. In addition, China has the world’s highest 36.1 trillion cubic meter (TCM) of shale gas reserves and Australia has 11.2 TCM of shale reserves. Drilling activities of these shale reservoirs would lead to huge demand for oilfield roller chains.

Browse 22 Figures 2 Market Data Tables spread through 78 Pages and an in-depth TOC on "Asia-Pacific Oilfield Roller Chain Market"

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Asia-Pacific oilfield roller chain market was governed by hoisting operation application in 2016, on the back of new oil and gas development projects in the region and the exploration of new shale reserves in countries like China and Australia. The application segment is expected to maintain its dominance through 2022. The second largest share was held by sucker rod pump followed by mud pump and others in the indicated year. Power transmission is the main segment where roller chains such as drive chains are majorly employed, which garnered a lion’s share in the market in 2016. Some of the prominent players operating in the market include Timken, DAIDO KOGYO CO., LTD., Tsubakimoto Chain Co., Jereh Global Development LLC, Zhejiang Gidi Industrial Chain Co., Ltd., Rombo Chain, Sugiyama Chain Co., Ltd., ARK ENGINEERING WORKS, and Hengjiu Group.

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“Recovery in oil and gas prices, recuperation of investments in oil and gas sector, surging exploration & production due to maturing onshore oil & gas fields coupled with declining production are forecast to propel oilfield roller chain market in Asia-Pacific during 2017-2022. Moreover, low reserve to production ratio, enhanced utilization of EOR methods and increase in drilling activities across the region are anticipated to provide growth opportunities for the market through 2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.   

“Asia-Pacific Oilfield Roller Chain Market By Application, By Type, By Country, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of Asia-Pacific 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 Asia-Pacific oilfield roller chain market.

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