Timken Leading Oilfield Roller Chain Market in 2016
Surging oil & gas consumption,
anticipated recovery in crude oil prices and increasing investments in oil
& gas drilling activities to fuel global oilfield roller chain market
through 2022
According to TechSci Research report “Global
Oilfield Roller Chain Market By
Application, By Type, By Region, Competition Forecast & Opportunities,
2012-2022”, the global market for oilfield roller chains is projected to
reach $ 430 million by 2022, on account of recovering crude oil prices, increasing
oil & gas consumption and rising rig count across the globe. With increasing
global energy demand, a large number of energy players are investing in oil &
gas development projects and this is anticipated to boost demand for oilfield
roller chains through 2022.
Browse 9 market data Tables and 90 Figures
spread through 195 Pages and an in-depth TOC on "Global Oilfield Roller Chain Market"
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North America dominated global oilfield
roller chain market and the region is forecast to continue dominating the
global oilfield roller chain market in the coming years. United States is largest
producer and consumer of oil & gas in the world, and thus, generates huge
demand for roller chains. The
proposed 2017-2022 Offshore Lease Program is projected to unlock about 80% of
estimated undiscovered recoverable oil & gas resources, on the Outer
Continental Shelf (OCS) in the US. During
the forecast period, oil & gas development projects in the US are expected
to rise, which would lead to increase in oil & gas rig count, and hence,
surge demand for oilfield roller chains in the country through 2022.
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“Growth in the global oilfield roller chain market can
be attributed to increasing oil & gas rig count owing to rising demand for oil
& gas. Rising availability of lube free roller chains, in applications
where lubrication is not feasible is also boosting growth in the global
oilfield roller chain market. Moreover, with anticipated recovery in crude oil
prices and increasing investments in new processing and testing equipment for
chain and sprocket production, the global oilfield roller chain market is set
to grow during the forecast period.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Oilfield
Roller Chain Market By Application, By Type, By Region, Competition Forecast
& Opportunities, 2012-2022” has evaluated global oilfield roller chain market and
provided statistics and information on market structure, industry behavior and
trends. The report includes market projections and demand forecasting. 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 strategic recommendations
for the global oilfield roller chain market.
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