New York, NY, April 26, 2017 --(PR.com
)-- 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"
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.
“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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