Press Release

Asia Pacific Oilfield Roller Chain Market is expected to grow at a robust CAGR

Asia Pacific Oilfield Roller Chain Market is expected to grow owing to increasing rig count across Asia Pacific throughout the forecast period.

 

According to TechSci Research report, “Asia Pacific Oilfield Roller Chain Market - By Country, Competition, Forecast and Opportunities, 2018-2028”, the Asia Pacific Oilfield Roller Chain Market is expected to register robust growth during the forecast period. Numerous countries in the Asia Pacific region, including Australia, Malaysia, and Indonesia, possess substantial offshore oil and gas reserves. The growth of offshore exploration and deepwater drilling has led to an increased need for roller chains specifically engineered for demanding marine conditions.

The Asia Pacific region is currently witnessing strong economic growth and urbanization, resulting in a rising need for energy resources. This demand is stimulating the exploration and production of oil and gas, thereby generating opportunities for the oilfield roller chain market. Roller chains play a crucial role in various drilling and production equipment, making them indispensable in meeting the energy requirements of the region.

 

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Based on application, the Hoisting Operations segment is expected to dominate the market during the forecast period. Hoisting operations encompass the lifting and lowering of heavy equipment, well components, and personnel throughout drilling, completion, and production activities. They are fundamental in the processes of drilling, well intervention, and production, involving the lifting of equipment such as drill strings, casing, tubing, and pumps. Thus, they form an integral part of oilfield operations. The Asia Pacific region has witnessed a surge in energy demand, leading to increased exploration and production activities. Consequently, hoisting operations play a crucial role in the extraction and transportation of hydrocarbons from both onshore and offshore fields, thereby driving the demand for roller chains. The Asia Pacific region, specifically countries like Australia, Malaysia, and Indonesia, is experiencing significant growth in offshore and deepwater drilling activities. These operations heavily rely on hoisting equipment, including roller chains, to facilitate the lifting and lowering of equipment in challenging marine environments. Moreover, the integration of IoT technologies enables condition monitoring and predictive maintenance of roller chains and hoisting equipment, offering opportunities for technology providers to reduce downtime and maintenance costs.

Based on type, the Conveyor Chain segment is projected to dominate the market throughout the forecast period. Conveyor chains are vital components used for the transportation of materials and bulk goods throughout various stages of the oil and gas production process, including drilling, transportation, and processing. They play an integral role in material handling and transportation in the oil and gas industry, finding applications in moving drilling mud, cement, and other materials during drilling, as well as in the transportation of produced oil and gas through pipelines. The Asia Pacific region is witnessing a significant increase in production activities, both onshore and offshore, making conveyor systems crucial for efficient material and product transportation, mainly relying on roller chains. Offshore drilling and production operations heavily rely on extensive conveyor systems for the movement of materials and products to and from platforms and vessels. The expansion of offshore exploration in the region substantially drives the demand for conveyor chains. Moreover, the integration of automation and IoT technologies in conveyor systems presents opportunities for condition monitoring, predictive maintenance, and enhanced control, contributing to improved efficiency and reduced downtime. Manufacturers of conveyor chains can explore avenues to develop environmentally friendly solutions aligning with the sustainability goals and regulations of the oil and gas industry.

 

Key market players in the Asia Pacific Oilfield Roller Chain Market are:-

  • Tsubakimoto Chain Co., Ltd.
  • Donghua Chain Group
  • Rexnord Corporation
  • Hangzhou Vision Chain Transmission Co., Ltd.
  • Hitachi Metals, Ltd.
  • Jiangsu Gidi Chain Ltd.
  • KettenWulf Betriebs GmbH
  • Sedis Group
  • Indian Chain Manufacturers
  • Taiwan Chih-Kang Material Company


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“The Asia Pacific Oilfield Roller Chain Market in China is poised to be the dominant force in the industry. China has made significant investments in research and development in the oil and gas sector. This investment paves the way for the implementation of advanced drilling technologies that necessitate specialized roller chains. Consequently, there is a growing demand for innovative solutions in the roller chain industry.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Asia Pacific Oilfield Roller Chain Market By Application (Hoisting Operations, Sucker Rod Pump, Mud Pump and Others), By Type (Drive Chain, Conveyor Chain, Multi Strand Chain and Others), By Country, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Asia Pacific Oilfield Roller Chain Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Asia Pacific Oilfield Roller Chain Market.

 

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