Oilfield Roller Chain Market–Global Industry Size, Share, Trends, Opportunity, and Forecast, 2028 By Application (Hoisting Operations, Sucker Rod Pump, Mud Pump, Others), By Type (Drive Chain, Conveyor Chain, Multi Strand Chain, Others), By Region and Com

Oilfield Roller Chain Market–Global Industry Size, Share, Trends, Opportunity, and Forecast, 2028 By Application (Hoisting Operations, Sucker Rod Pump, Mud Pump, Others), By Type (Drive Chain, Conveyor Chain, Multi Strand Chain, Others), By Region and Competition

Global oilfield roller chain market is anticipated to grow at a steady pace during the forecast period due to the rising industrialization and urbanization across the world. As a result, more exploratory activities are being conducted by various oil and gas corporations, which have significantly increased the demand for oilfield roller chains around the world. For raising large loads during exploration tasks, these roller chains are crucial.

The oil and gas industry uses roller chains to endure heavy shock loads and heavy cycle loads. These chains, which are constructed from strong, durable materials with a high tensile strength, are used to pull large objects during exploratory activities. For lifting large loads and power transmission in oilfield sectors, roller chains are typically utilized as drive chains, conversion chains, and multi-stranded chains.

Increasing oil & gas investments:

Rapid infrastructure development appears to be likely to continue for a long period. The development of tight and shale resources is anticipated to pick up steam, and markets will grow in reaction to the relatively low commodity prices supported by fresh oil and gas supplies. This still serve as the primary impetus for rapid expansion. Despite the Base Case's forecast that the US oil production will stay largely steady, tight oil supplies will continue to decline conventional production. The High Case predicts that by 2035, the US oil production may reach upward of 12 million barrels per day. Natural gas output will increase from its present daily average of roughly 72 billion cubic feet to a range between 110 and 131 billion cubic feet by 2035, which is a much more pronounced increase. Natural gas liquids (NGL) output will eventually lag behind that of gas. Thus, investments in oil and gas infrastructure will amount to USD1.06 to USD1.34 trillion between 2017 and 2035, or USD56 to USD71 billion annually on average. Around USD16.7 to USD19.2 billion annually, or about 30% of the investment, will be spent on surface and leasing equipment, which will be used to build offshore platforms in the Gulf of Mexico as well as equipment for onshore well production. Oil, gas, and NGL pipeline growth will also be active, accounting for an average annual CAPEX of USD12.3 to USD19.0 billion from 2017 to 2035, or 22% to 27% of the total infrastructure expenditure. During this time, pipes with a 10 to 12 million horsepower of compression will be added to and replaced across the US on a distance of between 27,000 and 45,000 miles. Gathering and processing, which ranks third on the list of investment categories with an average annual CAPEX of USD12.4 to USD14.8 billion, makes up roughly 22% of all infrastructure expenditure.

This investment will result in the construction or replacement of 218,000 to 240,000 miles of collection lines, 22 to 29 million horsepower and compression, 70 to 85 billion cubic feet of processing plant capacity per day, and 5 to 6 million barrels of fractionation capacity per day. With this expenditure, between 24,075 and 28,175 new well completions of oil, gas, and NGLs will be collected and processed annually.

Increasing production & exploration activities in the oil & gas industry

One of the businesses with a high capital requirement is oil and gas production, which necessitates expensive machinery and highly skilled labor. When a company locates oil or gas, plans are made for drilling. Numerous oil and gas companies get into agreements with specialized drilling companies and pay for the labor of the crew in addition to the rig's daily rates. The length of the process can be influenced by the drilling depth, rock hardness, weather, and distance from the site. By delivering real-time information and trends, data tracking via smart technology can aid in drilling efficiency and well performance. Although every drilling rig has the same fundamental components, the drilling techniques differ based on the type of oil or gas and the local geology. The production and exploration activities in the oil and gas business are expanding, which means that the equipment is being used more and needs repair because of wear and tear.

Increasing Deep-Water Projects Offer Robust Opportunities:

An increasing number of deep-water and ultra-deepwater drilling projects will present this industry with profitable chances during the projected period. The stabilization of crude oil prices has led to more efforts, increasing the profit margin for drilling and production businesses. Despite prices plateauing and falling by 50% in the most recent year, deepwater development expenditure growth has outpaced oil and gas price growth for the past three to four years. Many deepwater projects are categorized as so-called "mega projects" because their capital expenditures (CAPEX) frequently exceed USD5 billion. Even large operators and contractors with substantial project management capabilities struggle to produce workable financial results in these conditions.

The roughly 12 deepwater US Gulf discoveries made in 2021 may rise by a couple the following year, and a few areas that have been patiently enduring price volatility for years may finally receive the green light. The US Gulf presently produces 1.769 million b/d of oil, according to the most recent Platts Analytics estimates. Early in 2022, the output was likely to rise by up to 125,000 b/d and reach 2 million b/d by the end of the year. The three main projects in the Gulf that go into service in 2022 are the Vito field by Shell, Mad Dog Phase 2 by BP, and the three fields managed by Murphy Oil, Khaleesi, Mormont, and Samurai.

Deepwater output is anticipated to increase by more than 60%, from 6% to 8% of total upstream production, between 2022 and 2030. With ultra-deepwater production growing at the fastest rate by 2024, more than half of all deepwater production will be made at depths of 5,000 feet or deeper. Deepwater is the upstream oil and gas resource topic with the fastest growth. By 2022, production was expected to have increased from just 300,000 barrels of oil equivalent per day (boe/d) in 1990 to 10.4 million boe/d. By the end of the decade, that figure should approach 17 million boe/d, according to Wood Mackenzie.

Market Segmentation

The global oilfield roller chain market can be segmented into application, type, and region. Based on application, the market is segmented into hoisting operations, sucker rod pump, mud pump, and others. Based on type, the market is segmented into drive chain, conveyor chain, multi strand chain, and others. Based on region, the market is segmented into North America, Asia-Pacific, Europe, South America, and the Middle East & Africa.

Market Players

Major players in the global oilfield roller chain market are Tsubakimoto Chain Co., Rexnord Corporation, Timken Company, Renold plc, Diamond Chain Company, Inc., Ramsey Products Corporation, U.S. Tsubaki Inc., Ewart Chain Ltd., Kaman Corporation, and Webster Industries, Inc.

Report Scope:

In this report, the global oilfield roller chain market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Oilfield Roller Chain Market, By Application:
• Hoisting Operations
• Sucker Rod Pump
• Mud Pump
• Others
• Oilfield Roller Chain Market, By Type:
• Drive Chain
• Conveyor Chain
• Multi Strand Chain
• Others
• Oilfield Roller Chain Market, By Region:
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Indonesia
• Europe
• Germany
• United Kingdom
• France
• Russia
• Spain
• South America
• Brazil
• Argentina
• Middle East
• Saudi Arabia
• South Africa
• Egypt
• UAE
• Israel

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global oilfield roller chain market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights