Oil Field Roller Chain Market - Market Analysis and Future Growth Opportunities by 2025
Transparency Market Research has released a new market report entitled “Oil Field Roller Chain Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025” on to their report store.
Albany, NY -- (SBWire) -- 09/20/2017 --Oil field operations are subjected to high shock load and high cyclic load. Roller chains used in the oil & gas industry need to be capable of handling shock loads, fatigue, and cyclic loads. They should have maximum tensile strength and corrosion resistance. Roller chains are primarily used for lifting heavy loads and power transmission. The American Petroleum Society (API) specification 7F covers the design aspects of roller chains used in the oil & gas industry.
The oil field roller chain market can be segmented based on product type, chain joint type, application, and region. In terms of product type, the oil field roller chain market can be classified into heavy series chain, single strand chain, multiple strand chain, and single & multiple strand chain assemblies. The heavy series chain consists of larger pitches. They are mainly used to carry higher loads during low speed operation. Single strand chains are used for lifting lower loads. They are primarily employed in sucker rod pump application. Single and multiple strand chain assemblies are employed in hoisting and mud pump drive operations. They are designed to lift heavy loads at high speeds. The single & multiple strand chain assemblies segment holds the major share of the oil field roller chain market in terms of volume and value.
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Based on chain joint type, the oil field roller chain market can be divided into riveted chain and cottered chain. Riveted chain is made using pins that spread through the plate on each side and are then side mashed on their ends to hold between the plate and pin. Riveted chains have permanent joints; the links can only break when the rivet fails. Cottered chain is made with pins spreading through the plate on one side and on the other side a cross- drilled hole is made for inserting cotter pin. Cottered joined plates are easy to remove. The riveted chain segment accounts for the key share of the oil field roller chain market due to its capability of holding high loads without fail.
In terms of application, the oil field roller chain market can be segregated into hoisting, rotary table, mud pump drive, sucker rod pump, transmission, and others. Hoisting can be sub-segmented into draw-works, high drum, and low drum. Roller chains used in hoisting system is subject to heavy loads during lifting and lowering of drill pipes and casings. The hoisting segment constituted key share of the oil field roller chain market. It is followed by the mud pump drive segment.
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Based on region, the oil field roller chain market can be divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America accounts for significant share of the oil field roller chain market. This is due to the increase in exploration activities of unconventional reserves such as coal bed methane and shale oil & gas in the region. However, the oil field roller chain market in Asia Pacific is anticipated to expand at a fast-paced during the forecast due to the increase in usage of enhanced oil recovery techniques.
Recover in crude oil prices has resulted in an increase in oil & gas drilling activities. This is estimated to augment the demand for oil field roller chains.
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