Future Market Insights
Increasing exploration activities within the oil & gas sector across the globe and recovering crude oil prices are boosting the growth of the overall petrochemical market, which, in turn, is augmenting market demand for oilfield roller chains. Oilfield roller chains are used for the transmission of objects or to pull objects from one place to another in tough operating conditions. Oilfield roller chains play a vital role in the oil & gas industry where various types of oilfield roller chains such as drive chains, conveyer chains, multi-strand chains, etc. are used for exploration activities. Owing to their significant operating advantages such as reliability and durability, oilfield roller chains are used extensively in the oil and field sector. They have crucial properties which include high dynamic load capacity, significant wear resistance, shock resistant rollers, etc. These properties provide several benefits such as high impact strength and maximising reliability in difficult work conditions. That apart, these unique properties and the use of oilfield roller chains provide protection against corrosion, which ultimately improves wear protection.
Oilfield roller chains are produced to high precision. They have uniform wall thickness and are completely free of any tapering. All the parts of oilfield roller chains are shot peened which improves their fatigue resistance. Various stages included in the manufacturing process of oilfield roller chains are ball drifting, shot peening, pre loading, lubrication and finally, ensuring that the chains have uniform quality. Different oilfield roller chains have different applications. Multi strand chains are used to transmit high energy to equipment. Drive chains easily slide over sprockets with the help of holes present in the roller chain. Conveyor chains, on the other hand, are used to move objects in and out of a hole through the drilling line.
Market Dynamics: Oilfield Roller Chain Market
Globally, oilfield roller chain market is expected to grow at a healthy pace during the forecast period. Various factors such as the many advantages associated with the use of oilfield roller chains, increasing demand for oil & gas and increasing adoption of oilfield roller chain technique among premium manufacturers are responsible for the significant growth of this market. Fluctuating oil & gas demand being witnessed since last couple of years is expected to pose challenges for the growth of the market. Oilfield roller chain manufacturers are found to be focused on introducing new kinds of technologies in the oilfield roller chains market to gain a competitive edge. They are also working on reducing the weight and size of the equipment.
Market Segmentation: Oilfield Roller Chain Market
On the basis of product type, the oilfield roller chain market can be segmented into:
On the basis of application, the oilfield roller chain market can be segmented into:
Regional Outlook: Oilfield Roller Chain Market
Increasing oil & gas demand across the world is anticipated to drive growth in the global oilfield roller chain market during the forecast period. Growing demand from the oil & gas sector, particularly in China and North America, is adding to the growth of the oilfield roller chain market. On the basis of geography, North America followed by Western Europe and Middle East is expected to emerge as a significant market for oilfield roller chains. Over the last couple of years, North America has emerged as the major consumer of oilfield roller chains and is estimated to expand at a healthy CAGR during the forecast period as the region forms the key centre for oil & gas developments.
Some of the key players identified in the oilfield roller chain market value chain include Diamond Chain Company, Inc., Hale Brothers, Inc., Sugiyama Chain Co., Ltd., Rexnord Corporation, Jereh Global Development LLC, Emerson Bearing Company, Fördertechnik Kentzler GmbH, Zhejiang Gidi Industrial Chain Co., Ltd., Wippermann, etc.
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