Press Release

Europe Oilfield Roller Chain Market to Cross $ 133 million by 2022

Enhanced use of oil recovery techniques, growing exploration & production activities coupled with licensing of new blocks to drive Europe oilfield roller chain market through 2022

According to a recently published TechSci Research report, Europe Oilfield Roller Chain Market By Application, By Type, By Country, Competition Forecast & Opportunities, 2012 – 2022, oilfield roller chain market in Europe is projected to cross $ 133 million by 2022. Growth in the market size is expected on account of licensing of new blocks in Europe, which would result increase drilling activities in the region thereby, generating demand for oilfield roller chains. In March 2016, UK Oil & Gas Authority (OGA) announced 159 onshore blocks under the 14th Onshore Oil and Gas Licensing Round that has been offered to successful applicants. Around 75% of 159 blocks offered were unconventional shale oil or gas. In May 2016, Norway announced to open Virgin Arctic Waters to offshore oil and gas exploration. All the above stated factors are predicted to boost the market in the coming years.

Browse 23 Figures 2 Market Data Tables spread through 79 Pages and an in-depth TOC on "Europe Oilfield Roller Chain Market"

https://www.techsciresearch.com/report/europe-oilfield-roller-chain-market-by-application-hoisting-operations-sucker-rod-pump-mud-pump-others-by-type-drive-chain-conveyor-chain-multi-strand-chain-others-by-country-competition-forecast-opportunities/1150.html

Hoisting operation, by application segment, captured the largest share in Europe oilfield roller chain market in 2016, as it is a major activity performed in drilling rigs. The segment’s share is expected to elevate by 2022 due to growth in the number of oil and gas rigs in the region owing to surge in drilling activities, which is estimated to fuel demand for oilfield roller chains in the region through 2022. The second largest share was held by sucker rod pump followed by mud pump and others in the same year. Drive chain, by type segment is anticipated to continue dominating the market during the forecast period backed by its importance in power transmission. Some of the prominent players operating in the market include Rexnord Corporation, DAIDO KOGYO CO., LTD., Renold plc., Diamond Chain Company, Inc., Emerson Bearing Company, Wippermann, Joh. Winklhofer Beteiligungs GmbH & Co. KG, Hale Brothers, Inc, and Fördertechnik Kentzler GmbH.

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“Rising exploration of unconventional reserves and deep & ultradeep waters, licensing of unexplored wells in Europe and potential for shale development in Russia are the factors expected to spur demand for oilfield roller chains in the region during 2017-2022. Moreover, increase in horizontal drilling and surging utilization of enhanced oil recovery techniques such as carbon capture sequestration, microbial EOR, etc. All these factors are projected to aid Europe oilfield roller chain market to exhibit double digit growth in the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.   

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

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Europe Oilfield Roller Chain Market By Application (Hoisting Operations, Sucker Rod Pump, Mud Pump & Others), By Type (Drive Chain, Conveyor Chain, Multi Strand Chain & Others), By Country, Competition Forecast & Opportunities, 2012 – 2022

Oil and Gas | Jul, 2017

Enhanced use of oil recovery techniques, growing exploration & production activities coupled with licensing of new blocks to drive Europe oilfield roller chain market through 2022

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