Wireline Trucks Market Size, Share, Industry, and COVID-19 Impact Analysis, By Truck Type (E-Line Truck & Slickline Trucks), By Application (Open Hole & Cased Hole), and by Regional Forecast, 2024-2032

A wireline truck is a vehicle that carries all the wireline cabling equipment designed to lower gauges, valves, and other piping types of equipment into boreholes. Wireline truck includes logging facilities such as seismic equipment, data recorded and analyzed from sonic and ultrasonic equipment, and others. Operators can sit inside the truck and perform necessary operations. Wireline trucks are part of a wireline service provider and are generally operated and controlled by a wireline service provider.

The diesel gasoline engine is typically utilized in those trucks; however, producers have switched to electric-powered engines due to the boom in carbon emissions from the vans and carbon emission guidelines in many countries. These vans are used on a big scale within the oil & fuel line enterprise, which is the main element of the market boom.

Impact of COVID-19 on the Global Wireline Trucks Market

During the COVID-19 pandemic, prominent OEMs saw a dramatic drop in the trucks market. Due to the COVID-19 pandemic, the transportation industry was shut down, posing new problems for cargo and manufacturing companies to move their goods from one location to another. The spread of COVID-19 starting in 2020 resulting in the delay of various drilling projects worldwide, which affected the demand for wireline services globally. Severe disturbances in the global logistics & supply chain system during the pandemic caused a decline in the production of trucks. Factors, such as increased drilling and boring activities globally, surge the demand for wireline services. However, volatile oil prices were seen in the recent years, owing to geopolitics, supply-demand gap, and several other factors restraining the demand for the product.

• For example, in April 2020, Beach Energy declared a termination notice for its year-long offshore drilling program with Diamond Offshore in the Otway basin in Southern Australia, citing the logistical difficulties caused by the COVID-19 pandemic.

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships


• Porter’s Five Forces Analysis


• PEST Analysis


• Technological Developments


• Impact of COVID-19 on the Global Wireline Trucks Market

Analysis by Truck Type

By truck type, the market is segmented as slickline trucks and e-line trucks. Slickline uses single-line wire into the wellbore for several purposes such as drilling in the oil and gas industry for maintenance jobs. The growing demand for energy sources to quantify customers’ needs is making the segment grow in the market. The high installation cost is one of the key factors restraining segmental growth.

Regional Analysis

The U.S. is one of the world's largest wireline trucks markets. Many manufacturers are distributors and suppliers of these cable carts for different customers. These manufacturers also offer replacement and repair parts for these trucks, boosting aftermarket sales. Manufacturers in the U.S. are offering customized trucks to their customers, which is a key driver of the market in the region. Companies are also launching products that use rechargeable lithium-ion batteries for trucks running on electricity, which will reduce the carbon footprint. Many manufacturers offer driver comfort features, a wide range of LED lights, and laminated solar glass, accelerating the demand for these trucks in the U.S. market. The rise of the oil and gas sector in some countries has boosted the market in the Asia Pacific region. The aftermarket for wired spare parts is also high as the availability of spare parts on e-commerce websites is increasing, which is also an essential factor for the market.

In the North American region, offshore oil and gas projects have become more competitive due to improved efficiencies and supply chain streamlining, leading to falling offshore drilling costs. In terms of government policy and support, the U.S. federal government started an auction of more than 80.9 million acres leased by the U.S. government for oil and gas production in 2021. Mexico's annual oil production declined over the years as the vast Cantrell field in the shallows of the Gulf of Mexico dried up. However, the Government of Mexico is trying to increase private investment in its controlled areas of the Gulf of Mexico.

• For example, in Mexico, between 2017 and 2020, private sector companies announced 12 commercial oil and gas discoveries.

Key Players Covered

• NOV (U.S.)


• Synergy Industries (U.S.)


• Delve International (U.S.)


• BenchMark Wireline (U.S.)


• Schlumberger Limited (U.S.)


• Texas Wireline Manufacturing (U.S.)


• Specialized Oilfield Products (UAE)


• WEOS-Wireline Enterprise & Oilfield Services (Oman)


• KOLLER Maschinen- und Anlagenbau GmbH (Germany)

Segmentation

Key Industry Developments

• In December 2021, ADONOC Drilling (the largest company in the Middle East) received a USD 3.8 billion contract for five years with Adnoc Onshore for the continued provision of drilling, workover, and other good services.


• In October 2021, Saipem (an Italian oilfield service company) was awarded new onshore drilling contracts worth USD 70 million in the Middle East and South America.


• In September 2021, Reservoir Link Energy Bhd, a subsidiary of Reservoir Link Sdn Bhd, bagged a contract from Sarawak Shell Bhd/Sabah Shell Petroleum Co. Ltd for the provision of slickline equipment and services in Malaysia.