North America Oilfield Roller Chain Market is expected to grow at a robust CAGR
North America Oilfield Roller Chain Market is expected to grow owing to regular
maintenance and occasional replacement of components like roller chains across North
America throughout the forecast period.
According to TechSci Research report, “North America Oilfield Roller Chain Market - By Country,
Competition, Forecast and Opportunities, 2018-2028”, the North America Oilfield
Roller Chain Market is expected to register robust growth during the forecast
period. The growth of the market is being propelled
by the rising activity in the oil and gas exploration and production sector.
Increased drilling and extraction activities drive the demand for roller
chains, which are utilized in various equipment within the oilfield, including
drilling rigs and pumps.
The ongoing exploration and extraction of unconventional oil and gas
resources, such as shale oil and gas, tar sands, and tight oil, present
lucrative opportunities for the roller chain market. These resources
necessitate specialized drilling and production equipment, including roller
chains, that can withstand the demanding conditions associated with their
extraction. The rapid growth of unconventional resources, particularly in
regions like the Permian Basin, offers a substantial market for roller chains.
Companies capable of delivering reliable, high-performance roller chains
tailored to the specific requirements of unconventional drilling and fracking
operations are poised to reap significant benefits.
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in-depth TOC on the "North America Oilfield Roller Chain Market."
Based on application, the
Hoisting Operations segment is expected to dominate the market during the
forecast period. Hoisting operations are a fundamental aspect of oilfield
activities, involving the lifting of heavy equipment, drilling tools, and
tubulars in and out of wellbores during drilling, completion, and workover
operations. Roller chains play a crucial role in various hoisting equipment,
including draw works, crown blocks, traveling blocks, and other lifting
mechanisms. These chains must endure high loads, shock loads, and abrasive
environments while ensuring the safe and efficient movement of heavy loads.
Hoisting equipment in the oilfield is subjected to extremely heavy loads,
necessitating roller chains with high load-carrying capacities and the ability
to handle sudden shock loads. Manufacturers must design chains with the
necessary strength and resilience to safely lift and lower heavy equipment. The
reliability of hoisting operations is critical to safety and productivity.
Roller chains must be highly durable to withstand continuous use in harsh conditions,
such as exposure to drilling mud, abrasive particles, and extreme temperatures.
Any chain failure in hoisting operations can have catastrophic consequences,
highlighting the importance of reliability. Manufacturers have opportunities to
develop roller chains with advanced materials and coatings that enhance
durability and resistance to wear, corrosion, and abrasion. These improvements
can extend service intervals and reduce maintenance requirements. The
integration of IoT technology and smart sensors into hoisting equipment
presents opportunities to monitor the condition and performance of roller
chains in real time. Predictive maintenance based on data analytics can help
prevent chain failures and minimize downtime.
Based on type, the Conveyor Chain segment is projected to dominate the
market throughout the forecast period. Conveyor chains in the oilfield are
consistently exposed to abrasive materials like drilling cuttings and
proppants. It is imperative to design them to endure continuous wear and tear,
ensuring uninterrupted material transport. Reliability plays a critical role in
conveyor systems to avoid disruptions that can impact drilling and production
operations. Therefore, conveyor chains should possess durability and require
minimal maintenance to reduce downtime. Depending on the specific oilfield
environment, chains may encounter corrosive substances, including drilling
fluids and chemicals. Hence, corrosion resistance is vital to maintain their
structural integrity. Manufacturers have opportunities to develop conveyor
chains using advanced materials and coatings that enhance abrasion and
corrosion resistance, ultimately extending their service life and reducing
maintenance needs. By integrating sensors and IoT technology into conveyor
systems, real-time monitoring of chain conditions becomes possible, enabling predictive
maintenance. Early detection of wear or damage can effectively prevent
unplanned downtime. As the oil and gas industry emphasizes energy efficiency
and sustainability, conveyor chain manufacturers can explore designs that
minimize energy consumption in conveyor systems.
Key market players in the North America Oilfield Roller Chain Market are:-
- Timken Company
- Rexnord Corporation:
- Tsubaki
- Diamond Chain Company
- US Tsubaki Power Transmission, LLC
- Renold plc
- Ramsey Products Corporation
- FB Ketju
- Ramsey Industries, Inc.
- IWIS Drive Systems, LLC
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“The North America Oilfield Roller Chain Market in US is poised to be
the dominant force in the industry. Regular maintenance and occasional
component replacement, such as roller chains, are necessary for existing
oilfield equipment due to wear and tear. This ongoing maintenance and
replacement market significantly contributes to the overall demand for roller
chains.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“North America 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 North America 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 North America Oilfield
Roller Chain Market.
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